Tax Planning and Preparation

If your business is seeking proactive tax preparation and planning services, or business owner who wants to get the most back on their individual tax return, Erin Schlichting CPA can help. Our team is skilled in all aspects of US tax planning and preparation for US, and cross border individuals and businesses. Contact us to find out how we can help you and your business plan for the future.

Our tax preparation and planning services include:

  • Tax Services for Businesses
  • State and Local Taxes
  • Audit Representation
  • Buying or Selling a Business
  • Entity Structure Planning
  • Tax Services for Individuals and Business Owners
  • Tax Preparation & Consulting
  • Accounting
  • Tax Planning
  • Estate Planning
  • Retirement Planning

Tax Services for Businesses

We work with businesses to develop a comprehensive tax strategy that helps them grow, anticipate changes in the business and economic landscape, and reduce tax liability. Businesses face growth periods, hurdles and struggles as they navigate ever-changing industry and economic landscapes. We are here to guide you through each hill and valley with long-range tax and financial plans. We work with clients to develop long-range tax and financial plans.

Our team prepares federal, state, and US tax returns for domestic and international companies, LLCs, sole proprietorships, corporations, and partnerships. Erin Schlichting CPA works with our clients year round to minimize their tax liabilities for the current year, and plan for future years. Clients look to us to keep them aware of changes in tax regulations to reduce future potential tax obligations.

  • Year-Round Tax Planning
  • Business Tax Preparation
  • SALT (State and Local Taxes)
  • Tax Preparation & Consulting
  • Accounting
  • US Tax Planning
  • Audit Representation
  • Buying or Selling a Business
  • Entity Structuring
  • Financial Statement Compilation and Reviews

State and Local Taxes (SALT)

Each state and city has its own tax laws, creating complexities for businesses serving clients and customers in different states and cities. Businesses can save money when they have knowledge of the state and local tax requirements for the areas they do business. Erin Schlichting CPA is experienced in helping clients navigate state and local taxes for businesses doing business in other jurisdictions and locally.

Our team is experienced in direct and indirect state and local taxes and offers an array of state and local tax services, including:

  • Employment Tax
  • State Income Tax
  • Sales and Use Tax
  • Business Credits and Incentives
  • Property Tax

Entity Structure Planning

Not sure which business structure is right for your business? Each entity structure (LLC, LLP, C Corp, S Corp etc.) offers different advantages and disadvantages depending on the business model. We work with clients to assess their business and offer advice on choosing the right entity structure to maximize tax and management considerations.

Tax Services for Individuals and Business Owners

As a full service accounting and business advisory firm, we work with individuals and business owners to help them plan for now, tomorrow, and the future. We offer income tax consulting, estate tax planning, and retirement planning. With more than 30 years of experience, we have the skills you need to help you reach your goals for yourself, your family, and your business.

  • Tax Preparation & Consulting
  • Accounting
  • Tax Planning
  • Estate Planning
  • Retirement Planning

Estate Planning

While not everyone wants or likes to think about it, estate planning is an important part of planning for individuals and businesses. Estate planning often requires sensitivity as it includes elements of the client’s entire life including finances, business, lifestyle, family, and goals. Erin Schlichting CPA has more than 30 years of experience helping individual, families, and business owners with their estate planning – setting goals, counseling, and reviewing tax consequences in relation to those goals, and recommending tax strategies.

Identifying Estate Planning Goals

We help you identify and clarify your estate planning goals. Planning can be sensitive for many as clients must think about their own death to start thinking about their goals. Often goals include preserving assets and how to distribute them upon death. We work with clients to reduce possible estate tax liability in relation to those assets.

We work with clients to:

  • Review and analyze the current financial situation
  • Learn about the client’s personal situation (family, business, etc.)
  • Identify current and anticipated assets (potential inheritances, life insurance proceeds, etc.)
  • Determine liquidity needs
  • Review asset titling
  • Review relevant estate documents (wills, insurance policies, trusts, retirement plans, etc.)

Working With an Estate Planning Team

After reviewing a client’s goals and taking inventory of current and proposed estate items, we develop and evaluate strategies that are in line with the client’s estate planning goals. To ensure all concepts and strategy implementation is carried out correctly, we work regularly with members of our client’s estate planning team—investment advisors, attorneys, appraisers, insurance brokers, etc.

Retirement Planning

Everyone sees their retirement differently—we work with clients to set and meet their financial goals and objectives—whatever their retirement looks like. We help clients plan for every step along the way: investments, college, insurance, risk management, income tax, and estate tax. We provide clients with financial and money management advice that is customized to meeting their goals.

We help businesses, and individuals select the right retirement plan for their business and individually. Clients look to us for advice on how to reach their goals in saving for retirement, planning for retirement plan distributions, IRAs, Roth IRAs and Social Security benefits.

Audit Representation

If you’ve received a letter or tax notice from the IRS or state tax agency, we will help you evaluate the letter or notice, respond appropriately, and provide audit representation if necessary. During an income tax audit or IRS audit, we will stand on your behalf as an authorized representative. We will prepare all required and requested documents and handle communications and correspondence on your behalf.