Tax Preparation

| January 1, 2013

Let Us Worry For You

The Internal Revenue Code, depending on who you turn to for your answer, is approximately 1,337 pages in small type. The accompanying regulations are 24 volumes. And it’s not easy reading. Our team at Potts & Company is experienced and knowledgeable about income tax laws and regulations. We are committed to keeping informed as the tax laws change. We do this through continuing education courses and lots and lots of reading. Our goal is to make sure you and your business pays the lowest income tax possible and you can sleep without worry each night.

Business Taxes

Business taxes are demanding. Whether your business is structured as a proprietorship, partnership, limited liability company, S corporation, C corporation, or whether you own multiple companies, Potts & Company knows how to prepare your income returns right. Just like people, businesses have a life cycle. If your business is a new startup venture, we can help. If your business is a cash cow, we can help. If your business needs to be closed down and liquidated, we can help. We can help you and your business make smart choices to achieve a minimum tax bill.

Individual Taxes

Individual taxes can get downright personal. Knowing all the information the IRS collects about you can make a person feel a bit perturbed. Add the complexity of the law and regulations that you are required to comply with when preparing and filing your personal income tax return, a person can easily become anxious and frustrated. No wonder they compare taxes with the subject of death. [The two things a person cannot escape are death and taxes].

Potts & Company takes the subject of your income taxes personal too. Our services are personal and professional and confidential. We work hard and look at your personal circumstances and prepare a correct and accurate income tax return to make sure you pay the lowest income taxes possible.

Income Tax Planning

It is easier to save taxes during the current year rather than after the year ends. When the year ends, all a CPA can do is work with your work and business history in preparing your income tax returns. We are pretty good historians in that we will look back through the year to help you find the best tax situation available for you and we prepare your income tax returns. However, the smartest thing to do is talk with Potts & Company during the year to get the facts necessary to make good decisions on how to arrange your business affairs to achieve the lowest possible income tax bill.

Anyone may arrange his affairs so that his taxes shall be as low as
possible; he is not bound to choose that pattern which best pays the
treasury. There is not even a patriotic duty to increase one’s taxes.
Over and over again the Courts have said that there is nothing sinister
in so arranging affairs as to keep taxes as low as possible. Everyone
does it, rich and poor alike and all do right, for nobody owes any
public duty to pay more than the law demands.”
Judge Learned Hand
(1872-1961), Judge, U. S. Court of Appeals in the case of Gregory v. Helvering 69 F.2d 809,
810 (2d Cir. 1934), aff’d, 293 U.S. 465, 55 S.Ct. 266, 79 L.Ed. 596 (1935)

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