Tax Preparation Service
At Mel Financial Group LLC, we offer comprehensive tax preparation services to individuals and small businesses. Our experienced professionals are dedicated to ensuring accurate and timely tax filing while maximizing deductions and ensuring compliance with the latest tax laws and regulations.
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Our Tax Preparation Services include:
Individual Income Tax Preparation:
We assist individuals in preparing and filing their personal income tax returns. Whether you have a simple tax situation or more complex circumstances, we have the expertise to handle your tax preparation needs.
Small Business Tax Preparation:
For small business owners, we specialize in preparing and filing business tax returns, including Schedule C for sole proprietors, partnerships, and LLCs. We understand the unique tax considerations for small businesses and work diligently to optimize your tax position.
State Tax Returns:
In addition to federal tax returns, we also prepare state tax returns for individuals and businesses. We ensure compliance with state-specific tax regulations and help you navigate the complexities of state tax laws.
Tax Return Reviews and Consultations:
We provide thorough reviews of your tax returns to identify any potential errors or missed deductions. Our tax professionals offer personalized consultations to address your specific tax concerns and provide proactive tax planning strategies.
Child Credits and Education Credits:
We help you navigate the various child credits and education credits available, ensuring you take advantage of all eligible tax benefits for your dependents' education and related expenses.
Rental Income:
If you earn rental income from properties, we assist in accurately reporting rental income and deductions, including depreciation, repairs, and maintenance expenses, to optimize your tax position.
Investment Income and K-1 Income:
We handle the complexities of reporting investment income, including capital gains and losses, dividends, and interest income. Additionally, we assist in reporting income from K-1 forms for partnerships, S corporations, and trusts.
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Amended Tax Returns and Late-filed Tax Returns:
If you need to amend a previously filed tax return or have missed the tax filing deadline, our professionals can help you navigate the process and ensure compliance with tax laws.
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FBAR (Foreign Bank Account Report) and FATCA (Foreign Account Tax Compliance Act):
We assist clients with fulfilling their reporting obligations related to foreign financial accounts and assets, ensuring compliance with FBAR and FATCA requirements.
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EFTPS Payments and Estimated Tax Calculations:
We guide you in making Electronic Federal Tax Payment System (EFTPS) payments and help estimate and calculate your quarterly estimated tax payments.
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Installment Agreements and Offer in Compromise:
If you have tax liabilities that you are unable to pay in full, we can help you explore installment agreements or negotiate an offer in compromise with the IRS to settle your tax debt.
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Foreign Income Exclusion:
For individuals with foreign income, we ensure proper reporting and provide guidance on claiming the foreign income exclusion, taking advantage of tax benefits for qualifying foreign earnings.