Tax Preparation AND PLANNING

Taxes can be a difficult and time-consuming task, but it doesn’t have to be. George J. Laning CPA makes it effortless, from start to finish.

Because I’m always informed and up to date on the newest tax laws, you can rely upon me to provide quality and up-to-date tax preparation services. I cover it all, so you’re covered.

I prepare a variety of IRS tax returns including individuals (Form 1040), partnerships and LLCs (Form 1065), S-Corps (Form 1120-S) , C-Corps (Form 1120’s), trusts and estates (Form 1041), exempt organizations (Form 990), and gift tax returns (Form 709).

In addition, I specialize in tax preparation for real estate, multi-state tax returns and international tax preparation. If you invest or live in multiple states and internationally, I can prepare your tax returns and simplify the reporting process.

Tax planning allows me to better strategize ways to optimize your tax scenario. I devise tax plans to address current tax issues and prevent future problems.

My extensive experience in real estate and business allows me to tax plan in ways which other CPA’s may not be familiar with. Each of my clients is different and unique, and because of that, so is my service. I make sure to tailor my approach to match your specific tax goals and minimize risk.

Sales tax remediation and compliance

Since the landmark 2019 Wayfair decision, the landscape of sales tax obligations has dramatically shifted. Remote sellers may now find themselves within the sales tax nexus of multiple states, often without their knowledge, facing potential compliance risks.

My firm specializes in resolving past sales tax compliance issues by negotiating Voluntary Disclosure Agreements (VDAs) with each state in question. This strategic approach not only minimizes or eliminates penalties and interest but also protects businesses from potential legal consequences associated with unlicensed sales tax collection.

Key services include:
– State tax nexus studies
– Sales tax remediation
– State sales tax license setup
– Sales tax software setup and integration
– Ongoing compliance monitoring

Tax Issues

From unfiled taxes to tax notices, I analyze, address, and resolve any tax issues that may arise. I follow a hands-on approach to tax issues which includes acquiring IRS transcripts, direct telephone contact with the IRS, and written responses to IRS tax notices.

Estate and trust tax return preparation

Navigating the complexities of estate and trust tax returns can be daunting. My firm specializes in simplifying this intricate process, ensuring that your tax returns are prepared accurately and efficiently, giving you peace of mind.

Tax Accounting

Accounting mistakes can throw off your financials, become very costly and increase your IRS audit risk. I can help find and resolve those issues.

Tax accounting involves examining financial statements for errors and then preparing adjusting journal entries and reclassifying journal entries to correct any mistakes that are found. Believe it or not, accounting errors are commonplace in financial statements and can make a big impact on your taxes. I can find and solve these problems so that your taxes are as flawless as possible. This can lower the risk of an IRS audit and save you from headaches in the future, giving you peace of mind to sleep well at night.

New Business Ventures

If you’re ready to start your own business, I can help make that happen. From advising on your business structure and setup, to advising on your accounting and other business processes. I can guide you along your business journey every step of the way!

It is critical to examine your business needs to advise on the best business structure. It may be best for you to incorporate into an S-Corp or C-Corp or organize into an LLC or LLP. In some instances, it may best to remain as a sole proprietor. My approach to business formation is simple, protect you and your assets while minimizing taxes and risk.

Hiring a CPA to get your business off the ground, is a good plan. Hiring a CPA who encourages growth and helps guide your success along the way, is an even better plan.