When do you need tax preparation services?
You need tax preparation services when you require help with your w2 tax form, W9 tax form, paying quarterly Taxes and paying estimated taxes.
Estimated taxes are needed to be paid to avoid paying a penalty, when receiving high interest payments & certain types of interest for individual businesses. These situations include entities that earn income where taxes are not being withheld. Examples of these tax qualifying situations can be read about in this introductory list below.
Quarterly Estimated Taxes
If you have received income from the following items, it is very likely that you should be paying quarterly estimated taxes to the IRS. You will likely also owe tax to applicable state/local jurisdictions where you live and/or work:
- K-1 income from private equity investments, law firms, oil & gas, real estate, business, etc. Any type of K-1 may trigger the need to file quarterly estimated taxes.
- 1099-MISC income – this is for consulting, self-employment, contracting, gig income, or any other type of non-wage income
- 1099-K income – this comes from certain types of online accounts where you may have made money, such as Shopify, Amazon or eBay.
- 1099-B, 1099-DIV, and 1099-INT – significant investments or gains
- Single-member LLCs: You may need to pay estimated taxes if you are showing net income after expenses in any given quarter
- S-corps or dividends from c-corps
- Partnership income
- Significant W2 income where historically not enough taxes were being withheld by the employer/HR/Payroll
- Other – court settlements, gambling winnings, prize winnings, alternative investments, bitcoin gains, sale of land or property, etc.
2020 Tax Preparation & Tax Service Discounts
- IRS Transcript Delivery for $25
- Tax Preparation Fees Starting as Low As $80
- Offer and Compromise Packaging Service for $,1000
You will be guaranteed mistake free taxes for your first year, and premium counseling so that you’ll maximize your refund every year you use our tax preparation services.
Be sure to view the tax filing calendar, which shows important dates.
We invite you to call, email or visit our office by appointment for a free tax consultation estimate. You can call us between 9 A. M and 8 P. M. Monday through Friday at (213) 223-2248 or email us at: firstname.lastname@example.org
Providence Accounting Group is located in the US Bank Tower at,
633 West 5th Street, Suite 2614B, Los Angeles, Ca. 90071