Our tax services cover all aspects of tax planning, preparation, and compliance. Ensure your business stays on track and avoids costly penalties. From strategic planning to tax return filing, we offer a complete range of services to support your business’s tax needs.
Taxes are an essential part of running a business, but they can also be one of the most complex and overwhelming aspects for business owners. At J&R Accounting, we specialize in helping small businesses navigate the complexities of tax planning, preparation, and compliance.
Our tax services are designed to reduce stress, maximize deductions, and ensure that your business stays compliant with ever-changing tax regulations.
Our bilingual team is available in both English and Spanish to ensure every client feels comfortable and confident in understanding their taxes. Whether you’re looking for year-round tax planning or seasonal preparation, J&R Accounting is here to simplify the process and help you make the most of your tax strategy.
Tax Services
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Our clients choose us for our commitment to quality, accuracy, and our deep understanding of small business tax needs. Here’s why J&R Accounting is Franklin’s top choice for tax services:
In-Depth Knowledge of Small Business Taxes
We specialize in working with small businesses, which means we understand the unique tax challenges and opportunities that come with being a small business owner. Our expertise allows us to provide valuable insights and strategic planning that can benefit your business in the long term.
Proactive and Comprehensive Tax Planning
Our approach to taxes isn’t just about filing returns; we work with you year-round to develop a proactive tax strategy that maximizes savings and minimizes liabilities. We keep up with the latest tax laws to ensure that your tax strategy is always optimized and compliant.
Bilingual Support in English and Spanish
Our bilingual team is here to make tax services accessible for everyone. By offering services in both English and Spanish, we ensure that all clients understand their tax obligations and opportunities, building trust and confidence along the way.
Tax Planning & Strategy
Effective tax planning is essential for minimizing liabilities and maximizing deductions. Our team takes a proactive approach, working with you throughout the year to develop a personalized tax strategy that aligns with your business goals.
Deduction Optimization: We identify potential deductions specific to your industry, ensuring you take full advantage of tax-saving opportunities.
Entity Selection Consultation: We advise on choosing the right business structure (LLC, S-Corp, etc.) to optimize your tax position and meet your long-term goals.
Timing Strategies: By planning the timing of expenses and income, we help you reduce tax liabilities and smooth out cash flow.
Tax Credit Opportunities: We explore tax credits available to your business, from employee retention credits to energy-efficient investments, helping you reduce your tax bill.
Our tax planning services are designed to provide ongoing support and strategic guidance, so you’re always prepared for tax season and beyond.
Tax Preparing & Filing
Preparing and filing taxes can be complex, especially for small business owners who may have numerous forms and schedules to complete. Our tax preparation services ensure that your returns are accurate, compliant, and filed on time, minimizing the risk of errors and penalties.
Federal and State Tax Returns: We prepare and file all necessary federal and state tax returns, including Forms 1120, 1065, and other small business tax forms.
Schedule C Preparation for Sole Proprietors: If you’re a sole proprietor, we handle the preparation of Schedule C, ensuring all business income and expenses are accurately reported.
Quarterly Estimated Tax Payments: For businesses required to make quarterly payments, we calculate and submit these payments to avoid penalties and keep you compliant.
Local Tax Filing: If your business is subject to local tax requirements, we handle the necessary filings, ensuring that all obligations are met.
Our tax preparation services make tax season hassle-free, with accurate filings that meet IRS and state regulations, so you can focus on running your business.
Sales Tax Filing & Compliance
Sales tax regulations vary by state and, in some cases, by county and city. Our sales tax compliance services ensure that your business collects, records, and submits sales tax in accordance with all applicable regulations.
Sales Tax Registration: We assist with the initial registration process, ensuring that your business is set up correctly to collect sales tax.
Sales Tax Calculation and Collection: We calculate the appropriate sales tax for your products or services, ensuring accurate and compliant sales tax collection.
Sales Tax Filing: Our team handles all aspects of sales tax filing, including preparing and submitting sales tax returns on time.
With our sales tax compliance services, you can avoid the risk of penalties and maintain good standing with state and local tax authorities.
Payroll Tax Filing & Compliance
Payroll taxes can be a significant area of compliance risk for small businesses. We ensure that all payroll taxes are accurately calculated, withheld, and submitted to the appropriate tax authorities, reducing the burden on your team and keeping your business compliant.
Federal and State Withholding: We calculate and withhold the appropriate amount of federal and state taxes from employee wages, ensuring accurate payroll tax compliance.
Social Security and Medicare (FICA) Compliance: Our team manages Social Security and Medicare tax calculations and filings, ensuring compliance with FICA regulations.
Unemployment Tax Compliance: We handle state and federal unemployment tax filings, so you meet all employment tax requirements.
Our payroll tax services keep your business compliant, reducing the risk of costly penalties and maintaining employee satisfaction through accurate payroll management.
Quarterly Estimated Tax Payments
Many small business owners are required to make estimated tax payments each quarter. Our team calculates these payments based on your projected income, ensuring you stay compliant and avoid underpayment penalties.
Accurate Calculations: We calculate quarterly estimated payments based on your income projections and tax obligations, ensuring accurate payment amounts.
Timely Submissions: We submit estimated payments on time, so you avoid penalties and stay in good standing with tax authorities.
Payment Tracking: Our team keeps detailed records of your quarterly payments, making it easy to track and manage tax obligations throughout the year.
With our estimated tax payment services, you can maintain cash flow and avoid surprises at the end of the year.
IRS Audit Representation
If your business is selected for an audit, having professional representation can make a significant difference. Our team provides full support throughout the audit process, representing your interests and ensuring that the audit runs smoothly.
Documentation Preparation: We organize and prepare all necessary financial documents, ensuring you have everything needed for the audit.
Audit Communication: Our team handles all communication with the IRS on your behalf, reducing the stress and complexity of the audit process.
Issue Resolution: If issues arise during the audit, we work to resolve them quickly and efficiently, protecting your business’s interests.
With our audit representation services, you have a trusted partner by your side, guiding you through every step of the audit.
Tax Problem Resolution
If you’re dealing with tax issues, such as back taxes, penalties, or liens, our tax resolution services can help. We work with the IRS on your behalf to address and resolve tax problems, getting your business back on track.
Back Tax Filing: We file any outstanding tax returns, ensuring your records are up-to-date and compliant with IRS requirements.
Payment Plans and Installment Agreements: For businesses struggling to pay back taxes, we negotiate payment plans that allow you to settle your obligations over time.
Penalty Abatement: In certain situations, we can request a reduction or waiver of penalties, helping to reduce the overall amount owed.
Our tax resolution services provide relief from tax problems, allowing you to regain financial stability and focus on growth.
Tax Credit Identification
Tax credits and incentives can provide significant savings for small businesses, but many business owners are unaware of the credits they’re eligible for. Our team identifies and applies all relevant tax credits and incentives, maximizing your savings.
Research and Development (R&D) Credits: For businesses involved in product development, we can apply R&D tax credits, reducing your tax liability.
Energy Efficiency Incentives: We identify tax incentives for energy-efficient investments, such as solar power installations or green building practices.
Employee Retention Credits: If your business qualifies, we apply credits for retaining employees during economic challenges, reducing payroll costs.
By identifying and applying tax credits, we help your business save money and invest in growth.
