Usually, around tax time, big box tax chains pop up in January to do the publics yearly income taxes. Then, as quickly as they appeared, they disappear by the end of Spring. That may work for some folks with few assets and simple expectations, but that’s not the entire population.
“Tax wise,” the Bay Area is very diverse, and most residents have investments in all types of places; in-state, out-of-state, and internationally. Status matters too, and we have many expatriates, dual citizens, and green card holders. Everyone must submit a clean, organized, and correct income tax filing each year.
Safe Harbor CPAs don’t just show up in the springtime; we take care of clients all year and individual tax return preparation is one of our specialties (https://www.safeharborcpa.com/individual-income-tax/). Suppose you are a high-net-worth individual (with at least $1.5 million or $750,000 of investments). In that case, we can manage the monthly financials to keep you out of trouble with the IRS. If you need tax advice from an expert accountant skilled in international taxes, we manage that too.
Don’t Get Perplexed by the Alphabet Soup of Tax Regulations
The terms and acronyms in tax law can be dizzying. Are you an HNWI? Which is short for a high net-worth individual. Or an LPR, aka “lawful permanent resident?” Are you retired and charitable? Then you need to know all about those Qualified Charitable Distributions (QCDs) and the Required Minimum Distributions (RMDs) for IRAs. If you own a business, pay attention to these: TCJA, NQDC, RUS, and AMTS.
If you’re confused by the alphabet tax soup, it helps to know our Safe Harbor CPAs are acronym experts! Once we evaluate your situation, we can easily find what will help maximize your returns and minimize tax penalties. We are at the same place all year round, so feel free to contact us any season and schedule a meeting; https://www.safeharborcpa.com/contact-us/
