Personal Tax Services
The average family does not have a CPA or Tax advisor and usually finds themselves allowing a total stranger that knows nothing about their lives, their future plans, or their financial goals complete a final tax picture for them. These situations can lean toward errors in your return due to lack of probing questions or proper information submitted.
We found that most of our clients that benefit from our 3-year look back review would also benefit from a personal tax strategy. There are strategies that can be put in place prior to the beginning of the year like company status changes, tax status changes or recommendations of ways to spend your earnings. As well, having this dialogue on a quarterly basis will protect you from allowing an entire year go by without any knowledge of your final status. Taking time and promoting dialogue between you and your Tax Advisor will prove to be beneficial come tax season.
Statistically, up to 60% of all tax returns contain errors, usually in the IRS’ favor. Right now the IRS has billions of dollars waiting to be claimed by people who have overpaid their taxes due to miscalculation and numerical errors. The catch is that most people don’t know they’ve overpaid, and the IRS isn’t required by law to tell them. If you don’t find the mistakes and request a refund within 3 years, the IRS keeps the money. According to Tax Advisor Magazine (May 2000), a 1998 study showed taxes exceed what most of us pay for food, lodging, clothing and transportation combined – and it turns out that many of us are paying more than our fair share. Our job is to help you find the errors that have caused you to overpay, and get your money back!
THE TAX REFUND MYTH: Over two thirds of the U.S. population get a refund check from Uncle Sam every year and think it is the greatest thing since sliced bread, since they can’t seem to save money any other way. However, Uncle Sam pays zero percent interest on the money you overpaid during the year. Make changes now to leave about $200 in a refund check for next year, and put the increased cash flow toward a cash reserve. Talk to your tax advisor or call us for detailed instructions on how to change your W-4. Be sure to include any new child, new home or new second mortgage when figuring your new allowance. The more you save up front on your taxes, the more money you will have to invest into something that will give you a return.
The average tax preparer completes about 480 returns during tax season. With this overwhelming workload, it’s nearly impossible for them to be thorough and to identify every possible deduction. We offer a FREE REVIEW (some restrictions apply) of your last 3 years of taxes by a licensed, independent tax review specialist. This gives you the opportunity to get a qualified second opinion from someone who has the expertise to identify errors or missed deductions that may have caused you to overpay.
We use independent tax review specialists that review taxes year round. This means they can afford to take the time to closely scrutinize your returns and aggressively look for legitimate deductions that were either missed or not previously applied.
Right now the IRS has Billions of dollars waiting to be claimed. The catch is that most people don’t know they’ve overpaid, and the IRS isn’t required by law to tell them. If you don’t find the mistakes and request a refund within 3 years, the IRS keeps the money. Let Forward Financial Group help you fix the “tax” thing.