With over 20 years tax experience preparing thousands of individual, business and tax-exempt tax returns, we are not the "new kid on the block". From our experience, we know that certain things can raise a red flag or increase your chance of being audited. You certainly don’t want your tax return to scream “Please Audit Me”. Wouldn’t you want your tax preparer to point out any red flag before finalizing your tax returns? At Tax Gallery, we will let you know of any red flag before finalizing your tax returns.
At Tax Gallery, we prepared many business tax returns for our tax clients and sometimes we found the income and expenses (provided by our clients) do not seem right or look "funny" and unreasonable. Often, these are due to innocent bookkeeping errors, transposed numbers, accounting software problems or overlooked items. These items can raise a red flag or increase our clients' chance of being audited. We will ask and follow-up with our clients to make sure all the numbers are correct. At Tax Gallery, we believe it is our job to steer our clients away from potential tax problems and minimize their exposure to tax audit.
In addition to our extensive tax experience, our tax principal is an Enrolled Agent (enrolled to practice before the IRS), has a Master Degree in Taxation and is a former Tax Auditor. You can rest assure that we have the tax knowledge, expertise and technical skills to prepare your tax returns. At Tax Gallery, we believe that your tax preparer should do more than just entering the tax data. Your tax preparer should be able to look at the big picture, analyze the tax return, point out any red flag, provide tax advice and steer you away from potential tax problem. That's the difference between a great tax preparer and a data entry tax preparer.
When preparing our clients' tax returns, we may found that our clients missed to include certain expenses which can reduce their tax liabilities. For example, if our clients have rental properties, they will usually incur certain expenses such as mortgage interest, property taxes, insurance, repair, maintenance, etc. If we do not see these expenses on their expense report, we will inquire about these expenses to make sure our clients claim every single deduction they are entitled to and minimize their tax liabilities accordingly. We believe it is a dis-service to our clients if we take the easy way by just entering the tax data and pretending everything is okay. Our clients trust us to prepare their tax returns because we are the tax expert and they expect us to do a thorough job in preparing their tax return, minimizing their taxes legally and steering them away from potential tax problem in the future.
As an individual, you may be entitled to many tax credits and deductions such as dependent care tax credit, education tax credit, child tax credit, earned income tax credit, student loan interest tax deduction, tuition tax deduction, etc. In addition, if you own a house, rental property or have a business, you may also be entitled to deduct many expenses such as property tax, mortgage interest, donation, auto expenses, insurance, repairs, phone, etc. We will look at your particular tax situation and find ways to legally minimize your tax and claim any tax credits and deductions you are entitled to.
Let’s face it, nobody likes being audited. Unfortunately, sticking your head in the sand and hoping the tax audit will magically disappear is not going to work. That’s why we are here ready to help and guide you throughout the tax audit ordeal. As a former tax auditor, we know how the tax auditor works and thinks. We also know what the tax auditor can and cannot do during a tax audit. If you wish, we can be the main contact person with the tax auditor so you don’t have to face the tax auditor and sacrifice your valuable time. We will guide and prepare you to avoid many pitfalls during the tax audit so you will be in a much better position to overcome it.
The best time to contact us is when you received the tax audit letter and before the tax auditor meets with you. At this time, we can plan ahead, determine your tax audit exposure and look at your tax situation thoroughly. Of course, we can still help you even after the auditor completed the tax audit. However, at this point, the damage is already done and we can only try to control the damage which is not an ideal situation for you. Therefore, it would be in your best interest to contact us as soon as you received the tax audit letter so we can manage the tax audit properly.