Individual Tax Preparation and Planning Services

Whether you’re a salaried employee, a freelancer, or a retiree, understanding tax rules and optimizing your financial situation is an integral part of your financial well-being. Grigg Financial Groups certified public accountants can relieve the stress of unknowns when it comes to tax laws and tax saving strategies.

We value quality control, so our process takes longer than most firms. An individual tax return may take several hours to many additional hours to complete. First, we enter all data into a specially designed Excel template before entering any data into our tax software. We designed the template over 20 years, and it is intended to provide a higher quality to your return. This double-entry system requires much more time to complete.

Everyone has a unique tax situation depending on their personal circumstances. We understand that every client has a different goal, and the same strategy won’t work for everyone. Having the help of an expert CPA can: 

All sources of taxable and non-taxable income will be identified and reported accurately.

Business income and deductions will be reviewed to minimize taxes.

Example:
Rental and sole-proprietor expenses are reviewed to ensure all deductions are reported.

Federal and state Above-the-line deductions will be reviewed and implemented to reduce taxable income while increasing wealth.

Example:
Did you fund IRAs or solo-401k?
Did you fund Health Savings Accounts?
Did you fund a 529 Plan for a state benefit?

Federal and state itemized deductions will be reviewed to ensure deductions are maximized and reported properly.

Example:
Charity: Did you report charitable miles and non-cash donations (e.g. Goodwill)
Property taxes: Did you report your vehicle licensing fees?
Medical Expenses: Did you deduct all eligible medical expenses? View our free interactive medical expense deduction checklist.
Miscellaneous: Are you still reporting miscellaneous deductions for state deductions?

Self-employment, AMT, net investment income, and other additional taxes are reviewed.

Example:
Did you take an early distribution from an IRA? If so, do you qualify for any of the exemptions that minimize penalties?

Federal and state dollar-for-dollar offsets will be reviewed and maximized to ensure you pay the least amount of taxes.

Example:
Do you own a business and take advantage of the PEET credit?

We implement an extensive questionnaire to protect you and to ensure we minimize your taxes while increasing your wealth.
We utilize a two-year comparison to point out changes and irregularities.

Prior to filing, we thoroughly review returns to ensure:

Be proactive, not reactive. Have our expert CPA’s manage your tax obligations with strategic methods to minimize taxes legally. The benefits of tax planning include:

Strategically plan proper timing for income recognition, investments and deductions to increase tax savings.

From retirement accounts to capital gains, we can evaluate investment options to strategically help with taxes.

For high-net-worth individuals, tax planning ensures efficient wealth transfer, minimizes estate taxes, and maximizes benefits for heirs.

Contact a tax planning expert today.