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Professional Tax Return Preparation

Because today's tax laws are so complicated, chances are you will benefit from at least occasional help from a tax professional. It is easy to overlook deductions and credits to which you are entitled if you prepare only one return a year. There is no substitute for the assistance of a seasoned tax professional.

We prepare a variety of individual and business tax returns every year. We apply and explain appropriate tax-cutting deductions when your return is prepared. More importantly, we will answer your questions during the rest of the year. Call us to discuss timely tax, business, and financial advice.

Your Tax-Cutting Checklist

Whether you’re a wage earner, an investor, a business owner, or all three, you should take advantage of the available tax-cutting benefits. There is little to be gained by paying more tax than the law demands.

Identify the tax-savers for which you qualify. Below is a tax-cutting checklist to get you started. Check to see if there are tax breaks you are overlooking.

For Individuals:

  • Roth IRA
  • Roth 401(k) if employer's plan permits
  • Rollover to Roth IRA
  • Tax-deductible IRA
  • Child tax credit
  • Child care credit
  • Earned income credit
  • Annual gifts to reduce estate
  • Education savings accounts
  • Education expenses
  • American opportunity tax credit
  • Lifetime learning credit
  • Bunching deductions
  • Flexible spending accounts
  • Health savings account
  • Donating appreciated assets instead of cash
  • Qualifying property for personal residence gain exclusion
  • Best filing status
  • Shifting income or deductions from year to year
  • Adoption expense credit

For Investors:

  • Tax-free municipal bonds
  • Long-term capital gains
  • Rental property
  • Tax-free exchange
  • Low-income housing credit
  • Small business stock rollover

For Businesses:

  • Home office deduction
  • Keogh plan
  • SIMPLE plan
  • SEP
  • 401(k) plan
  • First year expensing of business equipment
  • Year-end bonuses
  • Bad debt write-off
  • Disabled access credit
  • Health care tax credit
  • Other business tax credits
  • Tax-free exchange

For your convenience, we have provided a complimentary tax organizer. Print it out, fill in the sections that apply to you, and bring it to your tax preparation appointment.

Contact our office at (301) 529-5057 if you have questions or want more information on these and other strategies that could reduce your taxes.

Email us at jcwjrpc@woytashlaw.com to request our newsletter.

Law Offices of
Joseph C. Woytash, Jr.

A Professional Corporation
P.O. Box 34452
Bethesda, MD 20827-0452
(301) 529-5057
Fax: (301) 530-0584
Email: jcwjrpc@woytashlaw.com