Tax Services in Murfreesboro
Few people look forward to tax season, yet many people assume that getting professional help would be too costly or complicated. However, that doesn't have to be the case.
At Ray & Gregory, PC., we offer comprehensive tax preparation and tax planning to businesses and individuals across Murfreesboro. We work with you throughout the year to help you employ tailored strategies that reduce your liability and help you save. Our founding CPAs, Steven Gregory and Cameron Ray, work with a team of experienced accountants and bookkeepers to provide dedicated support for you and your business. With our help, you'll be able to prepare for tax time, resolve tax issues, and reduce your tax-related stress.
Whether your tax needs are personal or business, quarterly or annual, Ray & Gregory, PC. will put our skill and expertise toward helping you minimize your tax burden. Contact our office today to schedule your initial tax consultation.
Benefits of Outsourcing Your Business Taxes
Many small business owners wear many hats in their company and enjoy the feeling of self-reliance. However, the more tasks you have dividing your attention, the harder it is to focus on any one thing. When it comes to tax filing, this can lead to late filing, missed opportunities, and unintentional errors. It also takes valuable time away from other areas of your business that need you.
Having an outsourced accounting team provides you with time, accuracy, and expertise at an affordable rate. We stay on top of changing tax laws to help you maintain compliance whenever you file, and always look for deductions, credits, and other saving opportunities you may qualify for. When you combine tax preparation with our tax planning and accounting services, your filing will be more efficient and you'll be able to take advantage of even greater savings.
Best of all, while we're busy preparing your tax returns, you'll be able to devote more time into the areas of your business that matter most to you.
What Do I Get With Tax Preparation?
When you count on Ray & Gregory, PC. in Murfreesboro to prepare your taxes, you can count on us to ensure that all relevant tax forms are completed, checked for errors, and filed on time. While completing your tax form, we thoroughly evaluate your income and business operations, which helps us to identify deductions and chances to lower your liability.
What's the Difference Between Quarterly and Annual Tax Filing?
Depending on your type of business and annual cash flow, you may have to file once a year or quarterly. Our team is experienced and flexible. We know how to work with you to get your tax forms completed no matter how frequently you need to file.
Quarterly Tax Filing - If you intend to file as a sole proprietor, a partnership, S corporation shareholder, or a self-employed individual, you're required to file and pay your taxes quarterly if you owe taxes of $1,000 or more.
Businesses that file as a corporation generally need to make estimated tax payments if they expect to owe $500 or more in tax for the year. This system can actually work out well for many businesses as they make smaller payments over time. The trade-off is having to spend more time completing and filing tax forms, but the team at Ray & Gregory, PC. can help you simplify this process and stay compliant.
Annual Tax Filing - All businesses must complete tax filing for the previous year at the annual deadline (typically in April), including those that file quarterly. If you file quarterly, this is when you calculate your full tax liability for the year, compare it to your earlier payments, and balance the difference.
Reliable Tax Services for Individuals in Murfreesboro
When it comes to your personal finances, you want to do everything you can to protect them - and so does our team at Ray & Gregory, PC.. We handle your personal income tax just as diligently as we work for our business clients, looking for every opportunity to help you save.
Do I Need Professional Help for My Personal Taxes?
Taxes are never simple, and the more personal and financial ties you have, the more complicated they become. Everything must be considered in tax filing, from your amount and sources of income to your family dynamic and charitable giving.
If any of these qualities apply to you, professional tax preparation could help:
What is Tax Planning?
Most people only think of taxes when filing season comes around again. However, by that time, the only thing you can do about your taxes is tally up your income and what deductions you have already qualified for.
Tax planning takes a proactive approach to your taxes by examining your situation and applying strategies that will help you save in the long run. We evaluate your tax returns from previous years, determine what deductions you're able to claim, and study your future plans to see what other opportunities could be open to you. Each tax planning strategy our team develops is personalized to the client.
Who is Tax Planning For?
Tax planning can benefit both individuals and businesses. When working with a business, we look at your full accounting history to understand your expenses, processes, and how you function. We can find deductions in a variety of places, such as in large purchases or expansion, equipment that needs maintenance, and programs you participate in.
As an individual, tax planning can assist you in several aspects of your financial well-being, especially in planning for your future. Retirement planning and estate planning both impact and are impacted by your taxes, and understanding this beforehand can help you make informed decisions to protect what matters most to you.
Our Murfreesboro Tax Resolution Services
As complex as taxes are, it's not uncommon to make unintended errors, or for life situations to make it difficult to meet your tax obligations. Dealing with tax debt and audits can be a frustrating and overwhelming experience, but you don't have to carry this burden alone.
Our team at Ray & Gregory, PC. can represent you before the IRS. If you or your business are being audited, we'll act as a go-between, providing necessary records, answering questions, and explaining their findings. If we disagree with the results, we can file an appeal on your behalf.
If you are struggling through tax debt, you don't have to let it continue to grow unchecked. We can negotiate with the IRS to create a manageable payment plan that will allow you to clear your debt and get back to taking care of what matters to you.
Proudly Serving the Murfreesboro Community
At Ray & Gregory, PC., we're committed to helping you find the best ways to protect your financial future. Whether we're helping you deal with tax problems or finding proactive ways to avoid them in the first place, you can count on our team to always put your needs and goals first.
Contact our Murfreesboro office today to get reliable help for your taxes this year!