AUTOMATED TAX PREPARATION FOR SMALL BUSINESSES BY GENESIS ACCOUNTING & TAX SERVICES

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TAX ACCOUNTING                 We are certified tax preparers in California. 
  • We prepare your business accounts and finalize your accounts for tax preparation.                       
  •  We will calculate your Cost of Goods Sold.                        
  • We will calculate your income and expenditure                         
  • We will calculate your depreciations                         
  • We will help you to get all legal tax benefits.                         
  • We will calculate your profit / loss and prepare your accounts accordingly                         
  • We will handle your individual tax liabilities for other income                          
  •  We will calculate other income benefits                          
  • We will prepare your spouse's tax returns with your tax return.                          
  • We will help you to get legitimate maximum tax benefits 

     Individual Tax

     It is risky for you to prepare your own tax. You will miss your benefits. Tax preparation software available in the market will not support individual who has no knowledge of taxation. Most of Tax software are for tax preparers who have knowledge of tax preparations.We use software manufactured by "Intuit" Company. "Intuit" company is the company who manufactures Quick Books soft ware.

Ask for free tax liability estimate / tax refund estimate for your individual tax. We will prepare your tax and give you a free estimate for your tax or tax refund or refundable tax credit amounts. If we file your tax only we will charge you.

       

SHOULD YOU FILE A TAX RETURN?

You must file a tax return if your income is above a certain level.  The amount varies depending on filing status, age and the type of income you receive. 

For example, a married couple both under age 65 generally is not required to file until their joint income reaches $17,500. However self-employed individuals generally must file a tax return if their net income from self employment was at least $400.

Check the “individuals” section of the IRS Web site at IRS.gov or consult the instructions for form 1040, 1040A or 1040EZ for specific details that may affect your need to file a tax return with IRS this year.

Even if you do not have to file, you should file to get money back if Federal Income Tax was withheld from your pay, or you qualify for a refundable credit that may give you a refund even if you do not owe any tax. Refundable credits include:

  • Earned Income Tax Credit. The Earned Income Tax Credit is a federal income tax credit for eligible low-income workers. The credit reduces the amount of tax an individual owes, and may be returned in the form of a refund.
  • Additional Child Tax Credit. This credit may be available to you if you have at least one qualifying child and you did not use the full amount of your Child Tax Credit
  • Health Coverage Tax Credit.  Limited to certain individuals who are receiving certain Trade Adjustment Assistance, Alternative Trade Adjustment Assistance, or pension benefit payments from the Pension Benefit Guaranty Corporation.

For more information about filing requirements and your eligibility to receive tax credits, visit the IRS Web site at IRS.gov.

Remember that for the genuine IRS Web site be sure to use .gov.  Don't be confused by internet sites that end in .com, .net, .org or other designations instead of .gov. The address of the official IRS governmental Web site is www.irs.gov.