A full-service tax preparation firm focusing on business and personal IRS taxation. We offer a broad range of services to all business structures as well as individuals.
Our team can help you with your fiduciary returns, quarterlies and Board of Equalization Sales and Use Tax returns. From preparing and assisting you with your tax return and correcting possible error on previously filed returns, to estimating your current tax obligations.
Individual Tax Return
Sales & Acquisitions
Corporate Tax Return
Partnerships & LLC’s Tax Return
Real Estate Tax
Foreign Investments and Income Tax
Foreign Investments in U.S. Real Estate
International Tax Planning and Compliance
Foreign Tax Credit
Foreign Bank Account Report (FBAR)
Tax Rules That Apply to Foreign Investors in U.S. Real Estate
Income and Withholding
Foreign Investment in Real Property Tax Act (FIRPTA)
Estate and Gift Tax
Income Tax Residency and Estate/Gift Tax Residency
Investment Structure Alternatives and their Tax Consequences
Ownership through U.S. LLC
Ownership through Foreign Corporation
Ownership through U.S. Corporation
Ownership through Trusts
Enrolled Agents are the only federally licensed tax practitioners who specialize in taxation and also have unlimited rights to represent taxpayers before the IRS. Attorneys and CPAs are state licensed and not all choose to specialize in taxes.
EAs are required to fulfill continuing education requirements that exceed the IRS’ required minimum. Because it is compulsory that they show their competence in all areas of taxation, representation and ethics to the IRS, all EAs are considered specialized in taxation.
EAs can advise and represent anyone and any entity audited by the IRS with tax-reporting requirements despite the continually changing tax laws.
More and more people and companies are turning to enrolled agents to help them with their tax preparation.
Corporation S-Corp C-Corp
It’s a common thought that IRAs can only invest in stocks, bonds and mutual funds. In fact, this is far from the truth. There have been other options available since 1975 such as investing in real estate, private placements and precious metals. You, the account owner, have complete control over your investment choices. Setting up a SDIRA (self-directed IRA) provides you with more options and allows you more control on when to buy, sell and diversify your assets.
You can transfer or rollover funds from your Roth IRA’s, traditional IRA’s and/or dormant 401K’s to self-directed IRA’s with no penalties from the IRS.
The SDIRA can be partnered with others on new investment opportunities.
For example, if you want to purchase real estate with other investors, this can be done.
The easiest way is to set up an LLC. The LLC is then funded by your partners’ investments as well as by your SDIRA. The LLC then purchases the property in its name.
The SDIRA is not limited to the investment options of an IRA custodian or trustee.
You no longer have to rely on a stockbroker investing in a volatile market for you. You have the control of what you would like to invest in, as long as it meets the IRS guidelines for what is considered a qualified investment.
The SDIRA pays for and holds ownership of the assets.
The SDIRA is the investor. It funds the purchase, whether in full or in part (as is the case when you purchase an investment with partners)
In case of an income property, the income and expenses generated is collected by SDIRA.
Holdings grow on a tax-deferred or tax-free basis.
Annual profits earned by those investments are either tax deferred or tax free depending on the type of SDIRA. Even if you sell, profits stay in the SDIRA and are not taxable until you start pulling out distributions, except in the case of a Roth where it is non-taxable.
In some cases assets can be passed to heirs with little or no tax consequences, thereby spreading the wealth over generations.
Our firm is associated with;
The Entrust Group, Administrators to SDIRAs
The Wilson Group Inc., Real Estate Brokers
Jackie Smits Pillai
Tax Consultant, EA
Jackie Pillai is an Enrolled Agent and like attorneys and certified public accountants (CPA’s), she is unrestricted in preparing tax returns, handling complicated tax matters,
and representing clients in front of the IRS.