If you are searching fortax preparation services in Rancho Cucamonga, California,” Whyte & Associates is glad you are here! We are not just a convenient option for finding a qualified tax preparer. We offer more than just tax preparation services. Our team of experienced, professional accountants and tax experts are adept at helping seniors and their families navigate the complexities of tax time, and we do that by, ideally, avoiding the rush of tax time entirely.
Approach us as soon as possible! The more time we have on our side, the better. We can help you identify the essential documents for preparing your tax returns. We also assist in minimizing your liabilities and maximizing credits and deductions. We also know what questions to ask regarding changes over the past year, which could affect your eligibility for certain tax advantages and opportunities. With the benefit of time, this process is unhurried, and no stones are left unturned or missed. Taking a year-round approach to taxes minimizes the risks of mistakes, missed deadlines, and incomplete forms that could trigger an audit. But, should an audit occur, we are here to assist you, as some returns are randomly selected for closer examination. Our Enrolled Agents are qualified to represent you at all administrative levels of the IRS. This provides considerable peace of mind to our clients.
No two tax strategies are alike, just as no two clients are alike. Here again, a close and sustained partnership with us helps unearth the information about your situation that potentially lends itself to reducing your liabilities and saving money on the tax bill. As seniors age 65 and older, you can get a higher standard deduction to reduce your taxes. Certain taxpayers with visual impairment (blindness) are also eligible for further reduction, as are any surviving and qualifying spouses. Credits are available for older taxpayers and individuals under age 65 who are permanently and totally disabled. These potential tax advantages also apply to spouses. A significant tax advantage may also be had for individuals with considerable medical and insurance costs associated with long-term care. Our team may discuss strategies to itemize these expenses rather than taking the standard deduction.
We understand the hard work you put into earning your money. You want to pass those hard-earned dollars on to good causes and for your family and community. We can help you achieve those goals and protect and sustain the legacy you want to leave behind with tax-advantaged approaches to gifting. Those vehicles, such as qualified charitable distributions, go toward the RMD (required minimum distributions) triggered at 73. In addition to supporting a charity or cause dear to your heart, this process lowers your taxable income and, in turn, potentially reduces the taxes owed on Social Security benefits.
Our team at Whyte & Associates is here to address any specific questions, and we welcome them! Call our office in Rancho Cucamonga, CA, at (909) 575-0080 to speak with a tax professional today.
