Tax Planning and Preparation services
Thomason Financial Services, LLC can help you meet all your tax needs, including:
- individual income taxes
- trust, estate and gift taxes
- small business income and general business taxes
- representation before the IRS or state tax authorities
The emphasis of my tax services to you is planning - understanding the tax consequences of transactions as you enter into them. I encourage you to contact me any time through out the year to evaluate a transaction you are contemplating.
A service included in my individual income tax service fees is a meeting with you in the "off season" (May to November) to review your current tax situation. I suggest meeting with you in the fall so that we have:
- a clear enough financial picture of the current year,
- a sense of any changing tax laws, and
- enough time to execute tax savings transactions or prepare for adequate tax payments before year end.
But income taxes aren't the only tax considerations that affect you - saving taxes this year may not be beneficial if you suffer other tax consequences of accumulating and transferring assets during your lifetime or at your death. Together we'll consider trust and estate planning concepts that could allow you and your heirs to maximize the assets you accumulate or transfer through lifetime giving programs.
For many clients, a large part of their assets are invested in a small business that they or their family members own and operate. The business's cash flows and income tax consequences are often at the center of their individual financial picture. I can draw on my personal experience of over 15 years as a small business owner/operator to help coordinate business operational and tax planning opportunities that maximize the beneficial value of your business to your family now and in the future.
Finally, I perform complete federal and state tax return preparation services for you and, as appropriate, other family members, your business and trusts or estates. If you desire, I can electronically file these returns for you, as allowed by the tax authorities. While other firms may see this as the full extent of their service to you, I view return preparation as the necessary extension of executing your tax plans.
Based on financial records that you provide, I will prepare all tax returns in a competent, professional and timely manner. I will use professional judgment in resolving questions where the tax law is unclear or where conflicting interpretations by taxing authorities allow for supportable filing positions. In the event your returns are examined by either the IRS or state tax authorities, I will be available to represent you in examination, and will render additional invoices for the time and expenses incurred.