As the year draws to a close, now is the time to review your tax situation and avoid costly mistakes. Failing to address potential issues before December 31 can result in unnecessary penalties and missed opportunities to save. At Tax Resolution Accounting, we’ve helped countless individuals and businesses navigate their tax challenges with confidence and clarity. Let us guide you through five common tax issues and how to handle them effectively.
"At Tax Resolution Accounting, we take pride in being a trusted partner for our clients. Our goal is to provide personalized, reliable solutions that give you peace of mind and help secure your financial future."
- Jeremy Lassiter, President & CEO
1. Missed Tax Deductions
Many taxpayers unintentionally leave money on the table by overlooking deductions they’re entitled to, such as:
- Charitable donations made during the year.
- Medical expenses exceeding 7.5% of your adjusted gross income.
- Home office or business expenses for the self-employed.
Our Expertise: We specialize in uncovering every possible deduction to maximize your refund. Trust our experience to ensure nothing is missed.
2. Tax Debt Complications
Unresolved tax debt is a ticking time bomb, leading to wage garnishments, liens, or worse. Ignoring it until tax season limits your options and compounds stress.
Our Expertise: Our seasoned professionals have successfully negotiated with the IRS on behalf of clients, securing manageable repayment plans and even reducing penalties. Let us take the stress off your shoulders.
3. Inadequate Tax Withholding
If your employer hasn’t withheld enough taxes, you could face an unexpected tax bill—and potentially, penalties—next year.
Our Expertise: We’ll analyze your withholding situation and offer guidance to ensure you’re fully prepared for tax season, so there are no surprises.
4. Overlooking Tax-Advantaged Contributions
Neglecting to contribute to tax-advantaged accounts like IRAs, 401(k)s, or HSAs means you miss out on significant savings and the opportunity to grow your investments.
Our Expertise: We’ll help you understand contribution limits and deadlines to maximize your tax benefits and set you up for long-term success.
5. Ignoring Business Tax Deadlines
Small business owners often miss out on deductions or face penalties for failing to meet end-of-year tax obligations, such as estimated payments or inventory adjustments.
Our Expertise: With years of experience supporting businesses, we’ll ensure you’re compliant with all deadlines while taking advantage of every available deduction to protect your bottom line.
Why Trust Tax Resolution Accounting?
When it comes to your taxes, you deserve a partner you can trust. With our proven track record of success and commitment to client satisfaction, we pride ourselves on delivering personalized, reliable solutions. Our team is here to ensure you’re fully prepared for the end of the year—and beyond.
Don’t leave your financial future to chance. Let us help you resolve your tax issues with confidence and peace of mind.
