"Financials 4 Seasons"

Tax Planning vs. Preparation Services

 

​Our Tax Planning and Preparation services are designed to help individuals and businesses minimize tax liabilities, maximize deductions, and stay compliant with current tax laws.

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Key Differences is Pricing:

• Tax Planning is an ongoing, proactive service with a broader scope to reduce taxes strategically over time.

• Tax Preparation is a once-a-year service focused on accurately filing returns.

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For Individuals:
We provide personalized strategies to optimize your tax returns, ensure accurate filing, and identify opportunities for deductions and credits.

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For Businesses:
We specialize in tailored tax planning to align with your business goals, manage quarterly filings, and navigate complex tax regulations with ease.

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Tax Planning Costs:

Tax planning involves year-round strategies to minimize tax liabilities, optimize financial decisions, and align with long-term goals.

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• Individuals: $400–$1,000+ annually, depending on income, investments, and goals.

• Businesses: $700–$5,000+ annually, based on the size of the business, industry, and complexity (e.g., handling multiple entities, tax-saving strategies).

 

Factors Influencing Cost:

• Multiple income sources, investments, or assets.

• Specialized strategies (e.g., estate planning, retirement optimization, or tax credits).

• Level of ongoing consultation required throughout the year.

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Tax Preparation Costs

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Tax preparation involves completing and filing tax returns for individuals or businesses.

• Individuals:

  • Simple Returns: $300–$300 (e.g., W-2 income, standard deductions).

  • Moderate Complexity: $500–$600 (e.g., itemized deductions, freelance income, or multiple state filings).

  • Complex Returns: $700–$1,500+ (e.g., investments, rental properties, or self-employment).

• Businesses:

  • Small Businesses/Sole Proprietors: $800–$1,500 (e.g., Schedule C, basic bookkeeping).

  • LLCs, S-Corps, or C-Corps: $1,500–$5,000+ (e.g., multi-state filings, depreciation schedules, payroll, or inventory management).

 

Factors Influencing Cost:

• Number of forms, schedules, or entities involved.

• Whether bookkeeping or records are well-organized.

• Special requirements like amended returns or audits.