Individual Tax Planning and Preparation, including FBAR Compliance

When it comes to Tax laws, tax forms, and informational IRS reporting requirements can be complex to understand and have compliance with. The difficulty and risks of falling out of compliance with these laws and requirements grows exponentially as the number of personal and business circumstances with a tax implication increase. A strong tax services relationship with Alek Tax & More Services, of MetroWest will give you access to year-round questions, guidance, create specific transaction plans, or resolve tax problems for your Individual Taxation.

Tax Return Preparation and Tax Planning Services in MA

The best way to avoid tax issues is to file timely and accurate tax returns each year. That’s our approach at Alek Tax & More, and there are several steps we build in to accomplish that goal for our clients.

In our team, we make every possible effort to avoid the need to file tax extensions delaying the preparation of the return. We prioritize finishing the return in a timely manner, when other accountants would just file an extension and prepare the return later.

When an extension can’t be avoided by our team, here at Alek Tax and more we work with you to create an accurate estimate of taxes owed so you can pay on time and avoid interest and penalties for your Individual Taxation.

We work with you to answer the setup questions that come with a new venture or a change in employment status. Alek Tax and more help you determine what forms need to be filed so the IRS has correct information about your status, or to make sure you’ve formed your new venture under the right type of legal entity.

We work with you regarding the tax implications of your investments in stocks and bonds to make sure you’re holding them in the most tax advantageous accounts, and that you’ve made the best elections for how gains and losses will be calculated.

Foreign Bank and Financial Accounts Reporting (FBAR)

US laws have established broad definitions for which accounts are considered to be “foreign” and who is required to report those accounts. US laws have also established onerous penalties for failure to report those accounts–up to $10,000 for each non-willful violation, and the greater of $100,000 or half the account balance for each willful violation.

The bottom line is that if you have financial accounts outside the US, you can’t afford to not have a resource to help you ensure compliance with these US reporting requirements. We at Alek Tax & More can greatly reduce your stress and risk in this area as we have considerable experience with foreign bank account reporting compliance due to the fact that many of our clients have such financial interests.

Individual Taxation Services in Massachusetts

We are full-time service providers, not just seasonal tax return preparers, so we’ll be there when you need us all year long. Request a consultation today to discuss how Alek Tax & More & Accounting Services can help you meet IRS compliance requirements, minimize tax payments, and accomplish your tax goals.

Tax Planning

This is the key; planning. Planning is the key to successfully and legally reducing your tax liability to IRS. We go beyond tax compliance and proactively recommend tax saving strategies to maximize your after-tax income.

MA Tax Return Preparation – Individual Taxation

According to a study released by the US Government’s General Accounting Office last year, most taxpayers (77% of 71 million taxpayers) believe they benefited from using a professional tax preparer for their Individual Taxation.

FBAR Services

The IRS takes foreign bank account reporting extremely seriously. The tax accountants at Alek Tax & More can help you understand foreign bank account reporting rules, and prepare & file all of the required forms, so you can stay on the right side of the law.

For other services, please head out to our Services Page.