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   Martin Accounting & Tax Service offers a wide range of services to our individual clients. Because our firm is relatively small, our clients benefit by getting personalized, quality service that is beyond comparison. Below we have listed the services that we offer our clients along with a brief description. As the list below is by no means all-inclusive, please feel free to contact us about a service if you do not see it listed.
bullet Tax Planning and Tax Return Preparation
bullet Financial Planning & Investment Review
bullet IRS Representation
bullet Estate & Trust Tax Preparation

Tax Planning and Tax Return Preparation

   We monitor the changes in the tax law that affect you and recommend tax saving strategies. We will prepare all your tax returns and serve as your advocate in all tax matters.  By keeping current on new tax laws and legislation, we are in a position to identify key tax planning opportunities that minimize both your current and future tax liabilities. Our significant investment in computerized tax preparation and research software enables us to accurately and efficiently prepare returns.  We stand behind every tax return we prepare, including taking a strong supporting role when representing our clients before the IRS or other tax authorities.

   There is a certain mystique that has grown up around tax planning and tax-cutting techniques. We are here to put tax planning in plain English for you.  There are actually several basic tax-cutting strategies, and most plans involve one or a combination of them. In a nutshell, the strategies are:

bullet Splitting income among several family members or legal entities in order to get more of the income taxed in lower brackets.
bullet Shifting income from one year to another in order to have it fall where it will be taxed at the lower rate.
bullet Shifting deductions from one year to another to place them where the tax benefit will be greater.
bullet Deferring tax liability through certain investment choices and through pension plan contributions.
bullet Structuring your affairs to obtain a tax deduction for some expenses paid for things you enjoy - a vacation home, for example.
bullet Investing your money to produce income that is exempt from either federal or state income tax or both.

   Today's tax laws are so complicated that unless your financial affairs are extremely simple, chances are you will benefit from a tax professional. It is too easy to overlook deductions and credits to which you are entitled if you prepare only one return a year. Even the use of computer software is no substitute for the assistance of a seasoned tax preparer.  We prepare hundreds of tax returns every year. We know what to look for when your return is prepared. More importantly, you have someone to ask questions of during the rest of the year.

   Contact us today for a no-charge initial conference. We will discuss your financial and tax situation and determine how we can help you.


Financial Planning & Investment Review

   Today, everyone needs to plan for a secure financial future.  Financial management grows increasingly more complex due to changing tax laws; volatile interest rates; a variety of new insurance programs and diverse investment opportunities.  To achieve financial security you cannot proceed without a comprehensive personal financial plan.  So much time is spent fulfilling career goals and earning a living, we rarely allocate the appropriate time to preparing for the future - with a definite plan.  Those individuals who don't plan can be assured that they will pay more income taxes than necessary, more estate taxes, and possibly will have to forfeit their financial objectives.  Therefore, the time to plan is NOW!  Planning NOW enhances your chance of achieving financial independence.  Planning NOW will give you peace of mind because you have defined your goals and know that you can reach them.

We will review your investment ideas with you and your investment advisor and suggest the best structure to maximize your after-tax return.  Don't ignore the impact of taxes on your investments. While taxes should not drive your investment strategy, understanding how taxes affect your earnings will help you minimize taxes and maximize your return. Consider these items:

bullet Capital gains carry a favored tax status. Consider putting more dollars in investments that return capital gains.
bullet You can take an annual deduction of up to $3,000 of capital losses in excess of capital gains. Consider balancing your winners and losers to maximize this deduction each year.
bullet Investments which produce high taxable annual income can be given to family members who are in lower tax brackets, thereby saving taxes for the overall family group.
bullet Depending on your tax bracket, you may benefit from investing in municipal bonds. The level of these investments may need to be adjusted as your total income picture changes.


IRS Representation

   A notice from a federal or state taxing authority can be intimidating. Whether a simple explanation is requested about a particular issue or a comprehensive compliance audit by the IRS is at hand, we can assist in resolving any controversies.  During our years of experience dealing with many taxing authorities, we have achieved a level of competence that can ensure our clients they are being properly represented before the various federal and state tax agencies.  We are experienced in dealing with the taxing authorities (Internal Revenue Service, Social Security Administration, state government, etc.) and can provide you with the effective representation you require.  We are also experienced in acting as clients' representatives in replying to correspondence concerning tax returns and providing explanations, schedules, and other documents in tax examinations.  If you are contacted by any government agency concerning your tax matters, your first call should be to us. We will take care of it so that you can get on with your business.


Estate & Trust Tax Preparation

   Did you know that estate taxes can consume more than half of your assets? Even a relatively small estate can suffer the consequences of failing to plan well. Effective estate and gift planning facilitates the orderly transfer of assets to your beneficiaries, provides security for your surviving spouse, and can reduce or eliminate the tax due on the transfer of your business and other assets.  For business owners, providing for business continuity and succession of ownership is essential. 

  We provide expert service in developing and implementing strategies that minimize estate and gift taxes and preserve the wealth of an individual or family, and smoothly transfer businesses and other assets to the next generation of owners.  Succession planning for family businesses is an important part of estate planning. We provide expertise, focusing on the needs of the retiring owner and his or her successors, as well as the continuing needs of the business operations.

   Trust services are another byproduct of the estate planning process. Our firm can handle complex trust matters and can assist families and their legal advisors in setting up any type of trust that suits their needs.


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