Tax laws, statutes, and regulations are constantly changing. Taxpayers need to comply with these changes. You work hard to earn the money you do. The last thing you want to do is pay more in taxes than you are legally required to pay. The tax professionals at JTA have over 20 years of knowledge experience managing our clients’ compliance needs while putting tax savings within reach.

Individual Audit Assistance
We can assist clients in dealing with various tax authorities at the federal, state, and local levels, including all kinds of taxes. We will provide only the records requested by the auditor and encourage the client to have the auditor meet with us in our office.

Research
There are many gray areas of the tax law that, depending on the facts and circumstances, will have many different results. Our team of experienced tax professionals will research the particular tax area with the intent of resolving the issue and backing up the stated position that will stand up against a governmental objection.

The more you pay in taxes, the less money you have to invest toward your personal financial goals. The key to reducing your tax liability rests in proactive planning where we are able to identify and implement key planning opportunities to minimize your current tax liability and impact subsequent years as well.

Reach out to our experienced tax professionals who can take a look at your overall tax situation and help you understand and reduce the tax impact of decisions. You may miss out on potential tax savings opportunities if you don’t have a trusted resource you can turn to year-round. That’s how we help you see beyond the numbers.

At-Risk Rules
The at-risk rules determine the amount of loss that can be deducted on a tax return and are quite complex. We provide planning and ideas for creating basis and utilizing tax losses.

Individual Audit Assistance
We can assist clients in dealing with various tax authorities at the federal, state and local levels, including all kinds of taxes. We will provide only the records requested by the auditor and encourage the client to have the auditor meet with us in our office.

Divorce Tax Planning
Decisions related to divorce have a long-lasting impact and are magnified if children are involved. We can help you resolve conflicts that affect your financial future. We provide evaluation and recommendations related to equitable income division, analyze prior tax returns and calculate after-tax income and cash flows, valuation, prepare future budgets and tax projections, provide expert testimony, and work with you and your attorney during the mediation process.

Health Savings Accounts (HSAs)
HSAs were designed to help individuals save for future qualified medical and retiree health expenses on a tax-free basis. HSAs have a high deductible but allow the employer or employee to set aside money on a tax-free basis to cover the deductible and other non-covered health expenses. We can help determine if you qualify and how to maximize the benefits of an HSA.

Passive Activity Rules
The passive activity rules determine if losses can be deductible based on participation of the client. We work with clients to determine if these loss rules apply to the activity, how the losses can be best utilized, and make suggestions for the activity to be classified as active rather than passive.

Planning and Payment Planning
JTA takes a proactive approach by working with our clients to reduce taxes and develop tax-saving strategies and solutions, which minimize potential tax surprises. We communicate regularly and prepare tax projections as needed. JTA provides advanced tax planning services to minimize tax and underpayment penalties and help our clients plan their quarterly tax payments.

Research
There are many gray areas of the tax law that, depending on the facts and circumstances, will have many different results. Our team of experienced tax professionals will research the particular tax area with the intent of resolving the issue and backing up the stated position that will stand up against a governmental objection.

Retirement Planning
When planning for retirement, you need to set goals, plan how much money is needed to meet these goals, and work hard to achieve them. We assist in making the right financial decisions that fit your income, lifestyle, and needs. By making the right decisions, your financial future and the financial future of your family will be protected.

Accounting Method/Period Changes
We help our clients adopt changes in their accounting method or period for tax purposes. We advise them of the facts and circumstances the IRS considers allowing the change, prepare the required elections and forms, and get IRS consent to change the method. We also fully explain the tax consequences of making the change, so that any issues can be addressed and planned for proactively. Entity Selection, Formation and Structure Planning We evaluate the different types of entities available and how they should be formed. We evaluate any changes and develop ideas on how to structure the business as it grows to meet client needs, both now and for the future.

Organizational Costs/Startup Costs
We assist clients in identifying organizational and startup costs, determine if the costs should be capitalized, expensed or amortized for tax purposes, and make the appropriate elections. Ownership Planning

All businesses will one day either change ownership or liquidate. JTA works with our clients to plan for their businesses’ future, whether that is passing it along to the next generation, adding or reducing individual owners, or winding down operations. With advance planning, our valuation experts can help business owners increase the value of their business to maximize the selling price. In addition, JTA can assist in proactive analysis and development of a company’s buy/sell and operating agreements to avoid confusion and problems in the future.

Buy vs. Lease
There are several factors that to considered in making a buy vs. lease decision. The risk of obsolescence, capital needs, accounting treatment, and the useful life of an asset are all factors that must be taken into account when this decision comes up. We can help analyze the situation and give insight into what will make sense for the business needs

Depreciation Method Planning
We help determine the best depreciation method and incentives that will suit your business. We consider your industry and look at various scenarios to get the most tax savings possible. We work with extensive depreciation software that allows us to evaluate book, federal, state and Alternative Minimum Tax (AMT) depreciation considerations.

Like-Kind Exchanges
The tax-deferred exchange remains the most important tool in planning for non-personal real estate transactions. We work with clients to navigate the many rules and regulations that affect these transactions. We also will act on our clients’ behalf to arrange and act as a liaison between the various other professionals required to complete the transaction according to strict IRS rules.

Multistate/Nexus Tax Planning
Many companies do business in states other than where they are located – it’s part of growing your company, competing in a larger marketplace and making smarter business decisions. Service providers have a much lower threshold than what a typical “tangible goods” company faces when determining whether they are subject to taxation in a given state. Our professionals can assist you in determining your company’s multistate tax situation, take steps to insulate your activities from overzealous states, and minimize your overall state tax liability.