Income Tax Consultant LLC

Tax preparation in Sachse, TX (show on map)

4.4

★★★★☆

9 reviews

Professional tax consulting and business solutions for individuals and companies.

Call (972) 278-4040

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About

Income Tax Consultants, LLC provides a wide range of tax services tailored to both individuals and businesses. Their offerings include tax preparation, strategic tax planning, and representation before the IRS.

The company specializes in business solutions such as bookkeeping, payroll services, and entity selection advice. They also assist with estate and trust tax preparation, financial analysis, and QuickBooks Online services. With expertise in handling IRS audits and managing payroll and sales tax obligations, they aim to ensure clients minimize tax liabilities and maintain compliance with federal, state, and local tax regulations.

Comprehensive tax solutions

Business consulting expertise

QuickBooks Online services

Non-profit organization support

Services

Bookkeeping

Comprehensive bookkeeping services for businesses without an in-house staff or those outgrowing current systems.

Bank account reconciliation Income statement and balance sheet generation General ledger cleanup Accounts receivable and payable management Unlimited consultations

Business Consulting

Strategic advice and planning to address business challenges and opportunities.

Business expansion guidance Selling or restructuring assistance Decision-making support

New Business Formation

Assistance with starting a new business, including licensing, EIN application, and initial planning.

State and local license preparation Federal Employer Identification Number (EIN) filing Initial business plan development Business structure selection Accounting method selection QuickBooks Online setup

Business Entity Selection

Guidance on choosing the most advantageous business structure.

Analysis of entity benefits and disadvantages Ongoing entity evaluation as business grows

Estate & Trust Tax Preparation

Tax preparation and planning for estates and trusts to minimize tax liabilities.

Collaboration with legal counsel Minimization of estate and trust taxes Handling of all tax-related matters for estates and trusts

Financial Analysis

Analysis of financial health and strategic planning for business growth.

SWOT analysis (Strengths, Weaknesses, Opportunities, Threats) Support for management decision-making

Reviews

Rating

4.4

★★★★☆

Reviews

"Very professional, knowledgeable, and honest."

Frequently Asked Questions

Do I need to pay estimated tax on my self-employment income? +

Self-employed individuals typically do not have taxes withheld from their earnings, so they must make estimated tax payments to avoid penalties.

Do my dependent children have to file their own tax returns? +

Dependent children may need to file their own tax returns if they have income above certain thresholds, even if the income is reported on a parent's return.

What are common mistakes with tax withholding? +

Common mistakes include underestimating tax obligations, failing to adjust withholding for life changes, and not accounting for additional income sources.

What are costly mistakes with foreign financial accounts? +

Overlooking reporting requirements, failing to maintain proper documentation, and underestimating tax liabilities on foreign income can lead to penalties.

How can I leverage my children's lower tax rate? +

Transferring assets to children can take advantage of their typically lower tax brackets, reducing overall tax liability.

What are common habits that increase tax costs? +

Overlooking deductible expenses, failing to maximize retirement contributions, and not utilizing tax credits can increase tax costs.