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Tax Planning & Preparation for Individuals
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 Tax
planning WILL save you money! Our philosophy embraces paying in
your fair share of taxes. But if you incorporate smart tax planning
throughout the year, your fair share is often much less than if
you don’t plan at all. The tax code is full of tax breaks that each
of us can and should take advantage of. BAA is here to unravel that
tax code and apply the best tax saving strategies possible.All planning involves looking ahead to reach a specific goal. Tax planning is no different. Planning and executing a strategy to meet your financial objectives is our goal at Black & Associates. And, we aim to save you more money in taxes than our fees if our strategies are implemented. The diagram below outlines the tax planning and preparation process we use with each of our individual and family clients. Clicking on each section will take you to a brief description of each step in the process. OUR TAX PLANNING & PREPARATION PROCESS  Step 1: Contact Black & Associates for Assistance We can’t begin to help you until you call us. Once you do, we briefly assess your tax issues over the phone and set up a follow up meeting where we will go into more depth to solve your tax problems or set up strategies to keep you out of tax trouble. Step 2: We'll Send You a Complete Tax Organizer After we spend some time with you on the phone discussing your tax situation, we will send you a tax package. The tax package includes your tax organizer and some other documents to help you assemble the important documents we will want to see when preparing your tax returns. It will also include a pre-scheduled tax appointment card to remind you when we will meet next. It is important to spend a few minutes completing the organizer to the best of your ability, as it will cut down on our tax preparation time and save you money in tax preparation fees. You will want to bring the tax organizer and all pertinent tax documents to your pre-scheduled appointment. Step 3: We Meet Together at Our Office Tax planning and compliance engagements begin with your initial tax consultation and run about 1 hour. During this meeting, we discuss your tax issues in more depth, address any questions you have, and review all tax documents you received. We will ask you to also bring the last two years of tax returns filed so we can review them. This gives us another insight to your tax activity and gives us an opportunity to see if your returns were prepared accurately. Not all tax preparers are the same. Deductions can get missed, returns can be too aggressive, or mistakes can be made. If we see something along these lines, we will discuss any possible changes with you and let you know if it makes sense to amend the return(s) to get you a greater refund, or to minimize the possibility of an IRS audit. Step 4: BAA Will Promptly Prepare Your Tax Returns We now have a strong foundation and will prepare your individual tax returns. In addition to the federal tax return, we prepare tax returns for all applicable states across the U.S. We also prepare any local tax returns if needed, which vary depending on the states involved. If we have all of your tax documents (such as Forms 1099-Misc, 1099-Int, etc.) we can usually complete your individual tax returns within 3 days. Step 5: Your Final Tax Returns Will Be Filed When your returns are complete, we then call you to let you know what is owed to the government or what is going to be refunded. If you chose, we can e-file your tax returns on your behalf, which eliminates the need for you to mail hard copies to the IRS and various states. You will have the option to come in and pick your returns up or we can mail them to you. If you chose to pick up your returns, we will briefly review them with you and answer any questions you may have. If you chose to have us mail them to you, we will follow up with you within a week to make sure they were received and to answer any questions at that point. Step 6: We'll Work To Provide Year-Round Tax Planning Our initial tax consultation and brain storming session gives an opportunity to put together a game plan that requires you and us to work together to achieve your tax goals, which means usually minimizing your tax burden for the current year and subsequent years. The more complex your life is, whether it be with multi-state real estate holdings, investments in various companies, large charitable giving, or domicile issues that entertainers and athletes have, the more important and crucial it is for you to have us on your team to make sure the proper tax saving strategies are implemented and executed. Many times that means we will call you as scheduled throughout the year to keep you accountable to the game plan we established together. You have to remember, that your tax planning strategies are only as strong as the weakest link – you will need to execute accordingly and we will do our absolute best to guide you. Contact Us Today! To learn more about our personal tax planning and preparation process, and how we can help meet your personal financial needs, please contact us during normal business hours at 714.821.6393 or click here to fill out an online information request form. |
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Shaun Black is a registered representative registered to transact business with clients in California. ^Shaun Black is advisory licensed in the following states: California. Shaun Black is also an insurance agent licensed in California - insurance lic. OF45986. Jelena Black is a registered representative registered to transact business with clients in California. Jelena Black is also an insurance agent licensed in California - insurance lic. OE88261. If you are not a resident of the states noted above, all investment-related information on this site is for informational purposes only and does not constitute a solicitation or offer to sell securities or insurance services over the internet. *Securities offered through H.D. Vest Investment Services (sm), Member: SIPC, ^Advisory Services offered through H.D. Vest Advisory Services (sm), non-bank subsidiaries of Wells Fargo & Company, 14241 E. Firestone Blvd. Suite 400, La Mirada, CA 90638. Phone (714) 821-6393 • Fax (714) 876-0753. Investments and insurance products are not insured by the FDIC or any federal government agency, are not deposits of or guaranteed by the bank or any bank affiliate and may lose value. © 2004-2008 Black and Associates LLP • Los Angeles and Orange County California