Here are the top 6 reasons, why Formations is recommended to handle your individual tax returns:
- Integration of Business and Personal Taxes:
Formations has a comprehensive understanding of the financial situation of the business, which is often connected with the individual's personal taxes. This allows for a more integrated and accurate tax filing process. - Convenience:
Formations provides a one-stop-shop for tax management, saving time and reducing complexity for customers. - Tax Optimization:
Formations can help optimize an individual's tax situation by considering both business and personal finances, potentially leading to better tax savings strategies and more accurate tax planning. - Compliance:
With expertise in tax laws and regulations, Formations ensures that both business and personal tax filings are compliant, reducing the risk of errors and potential penalties. - Year-Round Management:
Formations offers ongoing management and quarterly reviews to prepare for the annual tax season and avoid surprises when filing individual returns. - Personalized Guidance: Formations provides personalized guidance to help individuals make better financial decisions, considering the implications of business decisions on personal taxes. By managing both business and personal taxes, Formations can offer a more holistic and efficient tax management service to self-employed professionals.