Do you feel that a prior year tax return was not prepared properly, or that you overpaid in tax? Get in contact today and we can help you reclaim any tax you should not have paid.

While websites such as Turbo Tax and Tax Slayer, plus block preparers like HR Block and Jackson Hewitt offer low cost returns with “guaranteed results”, the amount of tax money left on the table by these filing methods account for over 90% of overpaid and never reclaimed tax in America. This far outweighs the amount it would cost to hire a professional to do the return properly at the first time of asking. In addition, because these services and service providers rely on the taxpayer to provide all information for preparation, the error guarantee they provide often does not apply.

All is not lost! I amend about 30-35% of prior year returns for new clients due to errors and missed deductions. Usually, my clients end up with at least 4x the cost of the amendment back in overpaid tax, although that figure does vary. If you used one of the above filing methods to prepare your prior year return or the following items relate to you, get in contact today and I can see if I can help you claim some extra tax dollars back.

  • Schedule C Business

    Do you have a business that you file on a Schedule C? If so, this is one of the largest areas for missed deductions. We can look to ensure you are getting every deduction you are entitled to. We can also plan forwards to make sure that you are protected from liability issues, and that you understand possible retirement plan options that could really qualify you for great tax savings.

  • Own Property?

    Whether you own a home or have investment properties, there are deductions out there that can reduce your tax bill. For property owned for personal use, Schedule A can be missed because taxpayer’s believe they do not qualify; however, about 20% of the time, that is incorrect. For investment/rental properties, there are a whole heap of possible deductions that I see missed on every other return I look at.

  • Credits

    Did you know there are literally thousands of credits in the tax code? While the majority of them can be quite specific and rare to see, some are more common than you would think. Buy an electric vehicle? Put new windows in your house? Replace the A/C? All of these have potential credits associated with them. Even if you are just thinking about these items, it’s good to talk to a CPA who can let you know your options to make your purchase as tax and cashflow efficient as possible.

  • Foreign Income

    The US has tax treaties with a number of countries, each very different. It’s an area of the tax code that is very specialist and unless you are working with someone with international tax experience, chances are they are only using the most basis foreign tax principles. Nine out of ten times, this is not the most favorable way to file. Not only is the tax calculation unfavorable, but I often see missed compliance aspects that come with severe nonreporting penalties. If you have foreign assets or income from abroad, we can help.

Contact me today for a free amendment estimate. If it is not efficient to amend the return or there is nothing to amend for, there is no charge to you.