- Stressed during tax season?
- Surprised with a huge tax bill?
- Worried seeing an IRS letter?
Small Business Income Tax Preparation Services
Effective tax compliance happens not just during the filing season but year-round (365). FAS combines tax planning and tax brief to complement our tax service so business owners are well informed, prepared, and confident. With this strategy, we help clients avoid stress, surprises, and cashflow crunch at tax time.
Our team works throughout the year to help you plan so you can always make the best financial decisions that have a tax impact. Making us one of the most sought after tax preparation services in Katy, TX.
FAS provides the following:
Check out one of our tax tips video collection.
See our YouTube Channel for more!
Small Business Tax Advantage
The last thing you want to do when you’re trying to fulfill the daily responsibilities of managing a business is spend time worrying about taxes. The best way to handle it is by getting a tax preparation service provider that is IRS Certified.
A tax deduction allows you to write off a portion of your business income so that you can offset it with other expenses, lowering the amount of taxes that you’ll owe (or altogether eliminate them). It’s important for business owners to know what deductions are available, so they can take advantage of them during the year and not be in a rush at the end of the year when trying to figure out which expenses qualify.
Individual Income Tax Preparation Services
Whether you are an employed individual or a sole proprietor, filing your income tax return (like it or not) happens every year. US tax laws are more complex than ever and doing it yourself can raise more questions than answers. Avoid common tax mistakes by hiring an Enrolled Agent. This saves you time and money in the long term and most importantly will give you peace of mind.
With FAS by your side, you have support from an Enrolled Agent, the highest credential the Internal Revenue Service (IRS) awards to tax professionals, to take care of your tax preparation and filing needs.
What Income Tax Bracket am I in?
Income tax brackets are the percentages of taxes you pay on your taxable income through an annual tax return. It can be a confusing thing to comprehend even if you’re a person that understands things like taxes and finances but maybe have a little bit of trouble visualizing exactly how it works in practice.
The percentage is what tells you how much income tax you’re going to pay for every dollar of your income that falls in a specific range.
How Federal Income Tax is Calculated
Have you ever filed your income tax for a few years or plan on starting this year? If you answered yes, I would guess you are curious to know how federal income tax is calculated. So if you want to improve your understanding of the process and know exactly how the IRS views your taxable income, continue reading this Tax Guide as it will give you all the details on Federal Income Tax Calculation.
Crypto Tax Preparation Services
The world of finance is changing and it’s changing fast! Here at FAS, we don’t shy away from technology and the future – We embrace it!
As the world starts embracing cryptocurrencies, more and
more people are adding it to their investment portfolio. But with the
ever-evolving IRS rules and tax laws based around blockchain technology, making a costly mistake by DIY your crypto income tax reporting is not a question of “if” but “when”.
Our approach to crypto income tax preparation allows you to
have the peace of mind that your crypto investments are compliant with the IRS reporting requirements. With FAS, you will get the full support of an Enrolled Agent to ensure that your crypto income tax reporting adheres to the latest guidelines of the IRS. Saving you from penalties and interest!
How Crypto Tax Works
Due to the rapid rise of cryptocurrencies, there has been an increase in the number of individuals that have started trading digital currency. As cryptocurrency gains popularity, more traders will be making purchases with this currency.
Recent regulations by states and countries like Japan, China, South Korea, and Canada, you might find yourself in a tax-related situation if you are working with cryptocurrency. This can lead to you being able to hold onto your money or be forced to part with it.
How to Report Cryptocurrency on Taxes?
If you’ve been involved with cryptocurrencies at all, or have yet to get into the game, you might be wondering just how to report cryptocurrency on your taxes. The simple answer is that you’ll report them in basically the same way as you would any other investment. However, let’s dive a little deeper into the subject and figure out the best way for you to record your cryptocurrency transactions for your tax return – so you can remain stress-free during the tax season.