Tax Preparation and Compliance Services

Tax Preparation and Compliance

Income Tax Return Preparation Services

Deonette M. Goodspeed, CPA offers a full array of federal and state income tax services helping companies at all stages of the business cycle and their owners, comply with increasingly complex tax laws. Deonette M. Goodspeed, CPA tax professionals include an experienced, multi-disciplined team of tax professionals who provide services in the areas of federal tax planning, analysis and compliance.

The primary objective of our professional tax services is to minimize a client’s overall tax burden whenever and wherever possible. In order to achieve this, our tax services are directed primarily toward constructive tax planning beginning early in the year and maintaining close contact with our clients throughout the year. We believe our success is due in large part to an added emphasis on strategic tax planning.

Preparing your own income tax return can be a task that leaves you with more questions than answers. According to a study released by the US Government’s General Accounting Office last year, most taxpayers (77% of 71 million taxpayers) believe they benefited from using a professional tax preparer.

Today’s ever-changing tax laws are so complicated that filing a relatively simple return can be confusing. It is easy to overlook deductions and credits to which you are entitled. Even if you use a computer software program there’s no substitute for the assistance of an experienced CPA.

Deonette M. Goodspeed, CPA provides the following tax services:

  • Individual Tax Planning and Preparation
  • Corporate Tax Planning and Preparation
  • Partnership Tax Planning and Preparation
  • Non-Resident Income Tax Return Preparation
  • Electronic Tax Filing
  • Amended Income Tax Returns
  • Review of self-prepared returns (I.e, returns completed by an individual using off the shelf software)
  • Delinquent or Prior Year Tax Return Preparation
  • State Income Tax Returns (all fifty states)
  • Installment Agreements
  • Offers In Compromise
  • Analysis of Tax Law Changes
  • Texas State Sales and Use Tax Return Preparation
  • Texas State Franchise and Public Information Report Preparation
  • Texas State Mixed Beverage Report Preparation
  • Tax Exempt (Not For Profit) Returns Completion
  • IRS Transcript Retrieval
  • ITIN Applications (Form W-7)
  • IRS Electronic Account Resolution
  • IRS Form 2290 Heavy Vehicle

Tax Planning Services

The tax services we offer include not only the preparation and review of income tax returns, but also advance planning to minimize future taxes and advice on the tax effects of proposed transactions.

Planning is the key to successfully and legally reducing your tax liability. We go beyond tax compliance and proactively recommend tax saving strategies to maximize your after-tax income.

We make it a priority to stay current on new tax law changes. Although our firm does not engage in selling financial products; our employees have their insurance and security licenses since many areas of tax and financial planning overlap. We also have relationships with many financial planners with whom we work in order to provide financial planning as client’s move throughout the various stages of life. In addition, we can properly respond to questions by considering both the tax and financial planning implications of our recommendations.

Businesses and individuals pay the lowest amount of taxes allowable by law because we continually look for ways to minimize your taxes throughout the year, not just at the end of the year.

Here's just a few of the Tax Saving Strategies we use...

  • Splitting income among several family members or legal entities in order to get more of the income taxed in lower bracket.
  • Shifting income or expenses from one year to another in order to have them fall where it will be taxed at a lower rate.
  • Deferring tax liabilities through certain investment choices such as pension plans, contributions and other similar plans.
  • Using certain investments to produce income that is tax exempt from either federal or state or both taxing entities.
  • Finding tax deductions by structuring your money to pay for things you enjoy, such as a vacation home.