Tax Preparation

At Richard A Hall, PC, we provide tax preparations services for businesses, nonprofits and individuals. Our team takes pride in proactively managing our client’s tax filings. We strive for accuracy and seek to make sure our clients take full advantage of tax deductions and credits.

Small Business Tax Preparation Services

We can handle all aspects of your small business tax preparation, filing and returns. We handle taxes for all types of small businesses. We can help you find all tax credits and deductions available to your type of business. We can also work with you throughout the year in making decisions with tax implications (such as an equipment purchase vs. a lease).

Our team stays current with tax laws and regularly attends industry training programs. We prepare your taxes with a software program that enables us to double check all tax forms and file your return electronically.

We stay on top of your federal and state tax deadlines. If you are a client, and have not contacted us when your tax due-date arrives, we file an automatic extension for your business.

Nonprofit Tax Preparation Services

To maintain your nonprofit status, you must submit a form 990 and accompanying documents to the IRS each year. Spending the time necessary to compile the supporting documents and to complete the form takes time away from operating your nonprofit services.

We can handle preparing your 990 form and the following related documents:

  1. Income Statement, which must include specific revenue and expense categories, such as donations, salaries, postage, rent…
  2. Balance Sheet, which covers categories such as cash, accounts receivable, accounts payable…
  3. Functional Expense Statement, where you must allocate expenses to programs, services, fundraising, or operations.
  4. Individual Program Expense Statement, which reports your entity’s expenses for each program or service.
  5. Revenue Support Schedules, which provides specific information on your nonprofit’s sources of income in precise categories like charitable donations, membership fees, investment income.

The IRS reviews these detailed revenue and expense classifications to determine if your organization will retain its tax-exempt status. Consequently, it is critically important for you to build your accounting system around these revenue and expense classifications.

You can view our full accounting services for nonprofits at this link.

Individual Tax Preparation Services

Even for Individuals, today’s tax laws are very complicated. Unless your financial affairs are extremely simple, you will likely benefit from the guidance of a tax professional. If you prepare only one return a year, you can easily overlook deductions and credits available to you. While you can purchase good tax preparation software, these programs cannot replace the knowledge of a seasoned tax professional.

We have prepared hundreds of tax returns over the years for individuals, proprietorships, partnerships, corporations, limited liability companies, and tax-exempt entities. We know what to look for when we prepare your return. More importantly, you have someone to ask questions of during the rest of the year.

Our accounting team can prepare your individual tax returns and tax extension. We will also help you accurately estimate your next year’s taxes and avoid costly underpayment penalties.

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