SMJ Tax Firm & Associates
PROMPT PRECISE DEPENDABLE
Dedicated to providing comprehensive all-year tax preparation services that prioritize compliance with the IRS.
SMJ offers Services & solutions for individuals and businesses.
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Get expert insights into Federal & State Income Tax Preparation.
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Contact us today to learn more about our tailored bookkeeping solutions for your business
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Tax representation services offer comprehensive support for navigating complex tax issues:
Audit Support: Assistance during IRS audits, including providing essential documentation and defending tax returns.
Appeals and Collections: Handling appeals against IRS decisions and negotiating settlements for tax debts.
The goal is to ensure that interests are effectively represented and the best possible outcome is achieved.
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Tax resolution services provide solutions for resolving tax issues effectively:
Offer in Compromise: Negotiate with the IRS to settle tax debts for less than the full amount owed.
Installment Agreements: Set up payment plans for clients who cannot pay their tax debts in full.
Penalty Abatement: Request reductions or eliminations of penalties due to financial hardships or other qualifying circumstances.
Innocent Spouse Relief: Assist in obtaining relief from joint tax liabilities incurred by a spouse or former spouse.
These services aim to alleviate tax burdens and find manageable solutions for resolving tax disputes.
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Accurate Reporting
Prepare and File 1099-NEC Forms
Action: Collect all necessary details, including the contractor’s TIN and payment amounts.
Goal: Ensure accuracy to prevent errors and avoid potential IRS penalties.
Electronic Filing
Action: Handle electronic submission of 1099-NEC forms to the IRS.
Requirement: Particularly important if filing 250 or more forms.
Goal: Streamline the filing process and ensure timely submission.
Recipient Copies
Action: Distribute copies of the 1099-NEC forms to contractors by the January 31 deadline.
Goal: Ensure contractors receive their forms on time for their own tax filings.
2. Record-Keeping and Compliance
W-9 Collection
Action: Assist in collecting Form W-9 from contractors to verify TINs.
Goal: Prevent backup withholding and ensure correct TINs are used.
Compliance Checks
Action: Review contracts and payments to confirm proper issuance of 1099-NEC forms.
Goal: Ensure compliance with IRS requirements and accurate reporting.
Penalty Avoidance
Action: Monitor and adhere to all filing deadlines and requirements.
Goal: Avoid IRS penalties through diligent adherence to deadlines and regulations.
3. Tax Planning and Advisory
Deductible Payments
Action: Provide advice on the tax treatment of contractor payments.
Goal: Help maximize deductions and optimize tax outcomes.
Year-End Planning
Action: Offer guidance on timing payments and expenses.
Goal: Enhance tax outcomes for the business by strategic planning.
Business Entity Consultation
Action: Discuss the potential tax benefits of changing the business structure.
Goal: Evaluate whether restructuring (e.g., from sole proprietorship to LLC or S-Corp) could provide tax advantages.
4. Software Integration
Accounting Software Setup
Action: Assist in setting up accounting software to track contractor payments and generate 1099-NEC forms.
Goal: Streamline tracking and reporting processes.
Automation Solutions
Action: Recommend tools and processes for automating 1099-NEC tracking and filing.
Goal: Improve efficiency and accuracy in managing 1099-NEC forms.
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W2 Preparation
W2 preparation services ensure accurate and compliant reporting of employee wages:
Employee Wage Reporting: Prepare and distribute W2 forms to employees, detailing their annual wages and taxes withheld.
Filing with IRS: File W2 forms with the IRS and Social Security Administration to comply with federal requirements.
Corrections and Amendments: Handle any necessary corrections or amendments to previously issued W2 forms.
These services streamline wage reporting and ensure adherence to regulatory standards.
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Our services cater to clients in all 50 states, through virtual consultations or in-person appointments.
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Employment tax services ensure accurate and compliant management of tax obligations:
Payroll Tax Filing: Ensure timely and accurate filing of federal, state, and local payroll tax returns.
Wage Reporting: Manage and report employee wages, tips, and other forms of compensation.
Compliance: Assist businesses in adhering to employment tax regulations to avoid penalties.
These services help streamline payroll processes and maintain regulatory compliance.
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LLC & Non-Profit Filing
LLC and non-profit filing services streamline the establishment and compliance of organizations:
Formation and Registration: Assist with the formation and registration of LLCs and non-profit organizations.
State Compliance: Ensure adherence to state regulations, including filing annual reports and managing renewals.
Tax-Exempt Status: Help non-profits obtain and maintain tax-exempt status with the IRS.
These services support the smooth setup and ongoing compliance of your organization.
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New Business Registration
New business registration services ensure a smooth start for your enterprise:
Entity Selection: Advise on choosing the best business structure (e.g., sole proprietorship, partnership, corporation, LLC) tailored to your needs and goals.
EIN Application: Assist with obtaining an Employer Identification Number (EIN) from the IRS.
State and Local Licensing: Help secure the necessary state and local licenses and permits for your business.
These services streamline the registration process and lay a solid foundation for your new venture.
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Business Consultation
Business consultation services offer expert guidance to enhance your company’s success:
Strategic Planning: Provide advice on business strategies, growth opportunities, and financial planning to drive long-term success.
Financial Analysis: Analyze financial statements and offer insights to improve overall business performance.
Tax Planning: Develop tax strategies to minimize liabilities and optimize financial outcomes.
These services help you make informed decisions and achieve your business goals.
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Tax Planning
Tax planning services help optimize financial outcomes and minimize liabilities:
Tax Strategy Development: Create comprehensive strategies to reduce tax liabilities and maximize savings for individuals and businesses.
Retirement Planning: Advise on tax-advantaged retirement plans to ensure a secure financial future.
Investment Planning: Offer guidance on tax-efficient investment strategies to enhance returns and minimize taxes.
Year-Round Support: Provide continuous support to adapt to changes in tax laws and personal or business circumstances.
These services aim to strategically manage your tax obligations and financial planning throughout the year.
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Payroll Taxes
Payroll tax services ensure accurate and compliant management of payroll obligations:
Processing Payroll: Manage the entire payroll process, including wage calculations, deductions, and net pay distribution.
Tax Deposits: Ensure timely deposits of federal, state, and local payroll taxes.
Reporting: Prepare and file all required payroll tax forms, such as Form 941, Form 940, and state equivalents.
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Notary Services
Notary services provide reliable and flexible solutions for document authentication:
Document Notarization: Offer official notary services for a range of documents, including affidavits, contracts, deeds, and power of attorney.
Mobile Notary: Provide mobile notary services for clients needing documents notarized at their location.
Legal Compliance: Ensure that notarized documents meet all legal requirements and are properly executed.