Planning is the key to successfully and legally reducing your tax liability. Every financial transaction potentially affects a business’ tax obligation. Tax planning and filing can be a significant challenge considering all the different types of tax rules and regulations with over 5,000 taxing jurisdiction.
Tax planning is an essential element of the tax preparation process for all businesses regardless of size. Tax planning occurs year-round regardless of the fact that filing only occurs once or twice a year.
We go beyond tax compliance and proactively recommend tax saving strategies to maximize your after-tax income. Our clients typically pay the lowest amount of taxes allowable by law because we continually look for ways to minimize your taxes throughout the year, not just at the end of the year. At Chawla & Associates, we have the expertise to help you make the best financial decisions for your business with the goal of minimizing your tax obligation.
We use the most state-of-the art industry cloud-based software to prepare your taxes in a secure and safe environment. With the use of cloud-based accounting software, your taxes are prepared in a secure and safe environment. Your information is available for you to access and review 24 hours a day, 7 days a week. You can easily connect to your banking and financial institutions with a click of a button. We are both Intuit QuickBooks Certified and Xero Certified. LEARN MORE
Audits are a possibility for every business regardless of the business discipline and establish procedures. At Chawla & Associates, we are committed to the representation of our clients in conjunction with federal, state and local audits. Our experienced team includes individuals who previously worked for the Internal Revenue Service. We offer the following IRS resolutions services:
- Non-Filed Tax Returns
- Back Taxes Owed
- Payroll Tax Problems
- Wage Granishment
- Payment Plan
- Innocent Spouse Relief
Foreign Bank Account Reporting (FBAR)
If you have a financial interest in or signature authority over a foreign financial account, including a bank account, brokerage account, mutual fund, trust, or other type of foreign financial account, the Bank Secrecy Act may require you to report the account yearly to the Internal Revenue Service by filing Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts (FBAR).
We specialize in FBAR reporting. Learn more about our FBAR services.
Sales Tax Services
State Sales and Use Tax is imposed on all retail sales, leases and rentals of most goods, as well as taxable services. Many of our clients are responsible for collecting and submitting sales and use taxes across multiple taxing entities and states. In some states like Texas, select businesses are required to report and pay sales tax on a monthly or quarterly basis. We diligently work with our clients in the compilation of information and preparation of sales tax returns in an efficient and timely manner.