Prem Tax & Accounting – Services For Individual & Business

Do you really think that in about 20 to 30 minutes, your tax preparer has understood your tax situations, asked all the questions he should have, helped you plan your taxes? We understand that individuals have unique tax situations and take time to understand your tax situation for current year, past year and your plan for the future that has bearing on the current tax year. While our focus in on accuracy and compliance, we make all attempt to find all the legit deductions and credits that is available to you and help you plan your taxes for current year as well as future. We are confident of our competence and stand behind our work and there fore if the return selected by us is selected for audit, we promise to provide audit support free of cost. All above for a very reasonable and transparent fees which in most cases in $250.

A Taxpayer Identification Number (TIN) is an identification number used by the Internal Revenue Service (IRS) in the administration of tax laws. A Taxpayer Identification Number (TIN) is an identification number used by the Internal Revenue Service (IRS) in the administration of tax laws. It is issued either by the Social Security Administration (SSA) or by the IRS. A Social Security number (SSN) is issued by the SSA whereas all other TINs are issued by the IRS.

We will help you determine if an organization is eligible to apply for recognition of exemption from federal income taxation under section 501(a) of the Internal Revenue Code and, if so, how to proceed. Even though an organization is recognized as tax exempt, it still may be liable for tax on its unrelated business income. For most organizations, unrelated business income is income from a trade or business, regularly carried on, that is not substantially related to the charitable, educational, or other purpose that is the basis of the organization’s exemption.

Tax Planning for Real Estate is unique and commonly misunderstood and mistreated by inexperience tax preparers exposing you to possible tax liability and interest, not to mention missed opportunities. We consider ourselves expert in Real Estate tax matters and offer services from setting LLC, to moving properties under LLC, to plan for current and future years to prepare for readiness under different scenarios.

Tax laws are anything but static. This constant change, creates risk for compliance, at the same time, it also offers opportunities to develop new tax strategies to minimize taxes in now and in future. Our goal is to keep you compliant with constantly changing tax laws so that you do not end up paying interest and penalties. At the same time, we look to come up with legit tax strategies to lower your taxes now and in future.

Form 1120 - Additional Fees, if applicable, depends upon on nature of work and time involved.

Form 1065 (Form K-1 for partners included)

Form 1120S - Form K-1 for shareholders & Shareholder basis statement included

Income Tax and Self Employment Tax Return – Form Schedule C and Schedule SE