Tax Planning & Entity Formation
Johnson Accounting advises our clients regarding the purchase or sale of major assets, the timing and amount of distribution of income to principals, the timing and amount of tax payments and other important business decisions.
Each different type of business entity has different tax and legal ramifications and choosing the correct one at the start is important to the success of the business. We will advise and assist you in choosing and forming the optimal business entity for maximum profits and minimum tax liability while providing the management flexibility necessary to make your business grow. We know it is critical for you, a business owner, to have a roadmap showing your current business and where it is heading.
Income Tax Return Preparation
Johnson Accounting understands your business needs and designs and implements strategies to minimize your taxes. We guide you through the complexities of financial and tax planning, new and changing tax laws, estate planning and business succession issues. We do this year round, not just during tax season. We pride ourselves on the success of our clients and the solid relationships we establish with them.
Sales Tax Return Preparation
It is vitally important to pay your sales tax liability in a timely fashion. Failing to do so will quickly become a serious problem as late penalties are incurred. The California Board of Equalization aggressively collects past due sales tax and may suspend your selling permit. Johnson Accounting will help your business remain current by calculating your monthly payments and preparing quarterly sales tax returns.
Audits & Appeals
Your business can be audited by a variety of agencies, most commonly the IRS for income or employment tax and the Board of Equalization for sales tax. You are at a considerable disadvantage in this process since auditors have experience finding ways to assess additional liability. Johnson Accounting will serve as your professional representatives throughout the audit to achieve the best possible outcome and avoid the need for you to speak with any agents.
If the results of your audit are unsatisfactory or you were already assessed tax before retaining our services we will pursue all avenues of appealing the decision and reducing any amounts due.
The viability of your business can be greatly threatened by the collection efforts of tax agencies. If not managed correctly, unpaid balances will grow into very serious problems that can ruin both your company and your personal finances. Johnson Accounting provides relief and protection from liens, levies and asset seizures so you can continue business operations. This provides us time to arrange sustainable payment plans and potentially reduce your tax liabilities by preparing improved returns.
Bankruptcy & Tax Litigation
If there is no viable way to sufficiently mitigate the tax your business owes by negotiating with an agency, the best course may be to file a bankruptcy petition or litigate the issues in U.S. Tax Court.