Professional Services Accounting
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- If you are a self employed personal service provider within the fields of health, law, engineering, architecture, accounting, actuarial science, the performing arts, or consulting it is important to be aware of the 35% flat tax rate rule that you may be subject. In addition, you may be responsible for paying federal and state quarterly estimated taxes towards your personal tax liabilities. A failure to make timely remittances could result in late paying penalties and/or interest.
- We work closely with personal service providers to avoid needless penalties by calculating all applicable taxes. We inform our clients on a timely basis what taxes are due and when.
- If you provide services in the areas of engineering or architecture there is a federal domestic manufacturing credit that you may not be taking advantage of.
Individual taxpayers often need professional tax return preparation and sometimes, representation before the Internal Revenue Service regarding a previously filed tax return. Albin and Associates is here to help.
Residing abroad? If you’re a U.S. taxpayer residing overseas, you are still required to file and pay U.S. taxes on all of your worldwide income. If you are searching for a professional to review personal financial decisions with you to help identify alternatives and weigh the tax consequence of each choice, contact us at Albin and Associates.
Business taxpayers can require bookkeeping services and/or compiled financial statement preparation, or assistance in preparing quarterly employers payroll tax reports. Albin and Associates can help with these and the computation of the payroll tax liability. Is your business faced with a difficult decision that will have a material impact on its profitability? We can help sort through the quagmire and bring focus to the important aspects of the decision. Our professional analysis of the problem will make the decision an easier one after the important components are identified and examined. Consult with us; you won’t have to make these decisions alone.