At KDMS, we believe a proactive approach is the best practice when handling tax matters. Being prepared and planning ahead are far better than responding to a pressing situation that could have been avoided; good tax planning methods also help to minimize personal or corporate tax liabilities. In addition, our integration between our tax services, accounting services, and financial reporting services has been shown to work to our clients’ benefits time and time again.

Tax consulting

Whether you run your own business or you’re an individual with a complicated tax picture, KDMS provides consulting services on all aspects of taxation. We advocate a proactive approach with advance planning and periodic review rather than a reactive approach to all our tax services. Our CPAs stay current on new tax legislation and how it will affect our clients, so that we are well positioned to identify key tax planning opportunities to minimize our clients’ tax liabilities.

Some situations in which we provide individual and corporate tax consulting services are: you are planning a divorce, buying or selling a business, preparing to pay for college, inheriting money, or simply want a fresh perspective on your tax situation.

Tax planning

Good tax planning is a key component of a smart overall business strategy and can boost the profitability of your business or organization. It is an essential element of the tax preparation process and should be managed continuously throughout the year. Our experience and access to the most up-to-date developments in the tax laws can minimize both your current and potential future tax liabilities by planning ahead. We encourage our clients to come in periodically throughout the year to assess their current financials and make sure that their tax plan is on target.

Tax preparation

Whether you are an individual, a sole proprietor, partnership, or a company, our experienced staff can develop tax strategies that take advantage of, and comply with, the latest tax laws and legislation.

Our significant investment in computerized tax preparation and research software enables us to accurately and efficiently prepare returns for various types of entities including individuals, corporations, partnerships, trusts, estates, and not-for-profit organizations.

Tax compliance

There are as many areas regarding tax compliance as there are areas of taxation, from sales and use tax to payroll taxes to corporate taxes. Changes in laws about sales and use tax, internet commerce, collection of tax across state lines, and many others means it’s vital to have experienced tax professionals on your team. We work with our clients—individuals, small-business owners, and CFOs of corporations—to make sure they are in full compliance with tax laws at the local, state, and federal levels.

Tax controversy

Our specially trained CPAs provide expert counseling on many tax matters concerning disputes with federal, state, and local jurisdictions. These might include business or personal collections issues, releases of liens and levies, tax audits (sales and use, payroll, state and local, income), penalty abatement, or late or unfiled tax returns.

If the IRS or another taxing authority has a question about your personal or business tax return or sends a notice about a formal examination, you can be confident our team will handle it efficiently with the utmost due diligence and confidence.

Our services also include preparation of Offers in Compromise, when you are settling your tax debt for less than the amount you owe. Our team will ascertain if you legitimately qualify for this option, and, if so, file the offer on your behalf.

IRS representation

It can be extremely upsetting to receive notification of a tax audit or other concerns or questions the IRS has about your business or personal tax returns. At KDMS, we take the fear out of the audits and replace it with confidence. Our seasoned CPAs believe it’s best to tackle these issues directly; we will work closely with you to gather all the necessary financial information needed in an efficient manner, and represent you professionally in front of federal, state, or local tax agencies.