200 Plantation Chase
St. Simons Island, GA 31522
Tax Filing
Tax Filing
Filing your taxes can be complicated and confusing. At Graham | Adams, we help with tax preparation by ensuring your tax returns are accurate, compliant with tax laws and optimized to minimize your tax liability.
Gathering Necessary Documents
- Income forms e.g., W-2s, 1099s, K-1s
- Deduction and credit documentation (e.g., receipts, medical expenses, charitable donations)
- Investment and retirement account statements
- Mortgage interest, property tax and other relevant financial records
Analyzing Your Financial Situation
- Applicable income sources
- Deductions and credits you qualify for
- Strategies to reduce your taxable income
Choosing the Right Tax Forms
- Form 1040 for individual income tax returns
- Schedule C for self-employed individuals or freelancers
- Additional schedules for rental income, investments or complex deductions
Calculating Tax Liability or Refund
- Using professional tax software, we calculate your total tax liability or refund.
- We ensure accuracy by cross-checking calculations and verifying inputs.
Maximizing Deductions & Credits
- We ensure you claim all eligible deductions and credits to minimize taxes:
- Child Tax Credit, Education Credits or Earned Income Credit
- Retirement contributions or Health Savings Account (HSA) deductions
- Business-related expenses, home office deductions or depreciation
Filing Federal & State Taxes
- We electronically file your tax returns for faster processing and refunds.
- For multi-state income, we look at all relevant state tax laws.
Managing Estimated Taxes
- We calculate estimated quarterly tax payments.
- We file necessary forms, such as 1040-ES, to avoid penalties.
Addressing Tax Complexities
- We handle intricate tax scenarios, such as:
- Reporting capital gains, dividends and investment income.
- Navigating foreign income and tax treaties.
- Preparing taxes for small businesses or partnerships.
Avoiding Errors & Penalties
- We carefully review your return to avoid common mistakes, like:
- Missing deductions or credits.
- Incorrect Social Security numbers or mismatched data.
- Errors in calculations or filing status.
Handling Communication with the IRS
- If there are issues with your tax return, we:
- Act as your representative to resolve inquiries or disputes.
- Respond to notices, manage or negotiate payment plans if needed.
Tax Planning for the Next Year
- After filing, we provide insights for future tax savings:
- Adjusting withholding amounts
- Planning for major life events or financial changes
- Setting up record-keeping systems to simplify next year’s filing