Tax Accountants, & Advisors in Hesperia, California
Here’s what some of our satisfied clients are saying:
Here’s what some of our satisfied clients are saying:
Many times you don't file your return because you either owe money and can't afford to pay it when the return is due, or you believe you are due a refund, so you don't hurry to file. Even if you owe the IRS the best thing to do is file the return and figure out how you will pay for it later. The Failure to File penalty is a flat 25%. It is greater than the Failure to Pay penalty. Along with this Failure to File penalty comes interest, and interest compounds daily, before you know it the penalties and interest are more than the actual tax.
There are more than 72,000 pages in our complicated tax code and regulations. We expertly prepare your income taxes by being able to decipher the code and regulations, along with industry publications, mix them all together and come up with a tax plan designed just for you. In a study by the US Government's General Accounting Office it has learned that 77% of 71 million taxpayers thought they benefited by using a professional tax preparer.
It is possible to be absolved of an IRS debt if the reason for the additional debt is the fault of your spouse and you had nothing to do with the misdeed. There is a thing called "Equitable Relief" which means that it just would not be fair to make you pay for your spouse's debt. If you are approved as an innocent spouse, you will not have your portion of any tax refund confiscated but every year thereafter you have to file the innocent spouse form so that your portion of the total refund is not confiscated.
A federal tax lien can be attached to any type of property you own, your house, car, etc. They can absolutely make your life miserable. Banks don't want to lend you money with your house as collateral because they don't want to go through the mess of dealing with the IRS. Your credit turns to dust. If you own a business the IRS can attach your receivables. They will stand right by your cash register and as a customer pays you they confiscate the funds.
You think an IRS Lien can make your life miserable, an IRS levy can just about ruin and damage your life like you've never known. How would you like to wake up one morning and learn that the IRS has cleaned out your bank account down to its last penny? They don't care if you can't pay your bills. Debts to the IRS come first. Levies are used to seize your assets - car, boat, paycheck, and even your Social Security check. They will seize anything of value. If they get a court order, they can seize your house. Luckily court orders for house seizures are very far and few in between, but it could happen.
This is not an agreement that the IRS makes with you just because you want it. You can't just call up and say you can only pay so much $$$ so I want an offer. There is a long and tedious process that can take up to two years to complete. They will accept an offer only if you can prove that it is very unlikely that they will be unable to collect the full amount you owe them in a reasonable time. In an offer, your debt can be resolved for very little money when compared to the actual amount you owe. This can truly be a life saver, but it is very difficult to get approved. You basically have to lay out your entire life's history, from providing them with the Fair Market Value of your home (if you own one) to proving what you pay for rent, utilities, and other essential living expenses. Credit cards don't count. To make it worse, they have national and local standards that you cannot exceed unless you are absolutely able to prove that you are deserved of the amount that you actually pay.
Sometimes you can set up a payment plan (installment arrangement) where the IRS will give you more time to payoff your tax obligation. There is a limited time period that they can provide you, but it is better than having to pay the entire debt at one time or having a Lien or Levy attached. It might turn out that you qualify for an Offer In Compromise or Currently Not Collectible, the key word being Qualify. If you do nothing else, set up a payment plan.
If you are behind in paying these taxes, WATCH OUT!!! The IRS considers not paying payroll taxes the largest cardinal sin out there. The reason - a major portion of payroll taxes consists of employee withholdings. By not paying these taxes the IRS considers it stealing from your employees and they take a very dim view of this. The IRS would rather seize your business assets, close you down, put you out of business, and sell your assets at auction. Payroll taxes, penalties, and interest follow you to your death even if they are company related. You really want to get this situation resolved right away. If you owe payroll taxes, NEVER meet with the IRS by yourself. The questions they ask you are designed to back you into a corner to make you a responsible party, you may not even own the business. You want to take care of these taxes by any of the IRS options available.
Payroll preparation can be the most confusing and expensive operation in the bookkeeping equation. Take the confusion and cost out of the equation.
Currently you must perform all the hourly calculations and confirm that each employee actually spent the time working the hours they say they did. You’ve really become a babysitter.
Wouldn’t it be nice if this happened automatically so that all you have to do is peruse the employee’ s total time recorded? You no longer have to add up the hours worked that are claimed by your employees.
Payroll processing can also be very expensive, you can be stuck paying a fee every time you run payroll. Then you must pay for quarterly payroll tax returns to be prepared and what about the year-end forms, W2’s, W3, 940’s, and any state forms required to be filed. What if I told you that you can do away with these costs? You could have one low monthly payment. That would surely cut down on your payroll processing fees.
Did you ever imagine having a dedicated Human Resources Department? There for you whenever you need them. Know the rules you have to follow when letting an employee go? Have your employee handbook professionally prepared to cover all the requirements associated within your industry and within your company. Did you know that having an employee handbook is a requirement when taking action against an employee ? Your employees have to sign the employee handbook stating that they understand all the rules and requirements of your company. This gives you the rights you need in disciplinary actions.
There are also many signs that must be posted in a non-conspicuous area so that every employee can read them; another requirement. These you can get for free from your Human Resource Department.
If you receive an IRS notice and within 30-days you don't respond, for any reason, they will slap a wage garnishment against you, and your employer has to abide by the order. You will be left with very little to pay your rent, mortgage, or even groceries. You even risk being evicted. The worst thing you can do is to ignore the notice. If you show the IRS that you are trying to do something to resolve your debt, they will not issue a wage garnishment. You'll have to set up some type of payment plan or show them you just don't have the money to pay them. If they agree making payments will cause an undue hardship, you will be considered Currently Not Collectible and then every one or two years they will contact you and ask if your situation has changed and once again you have to prove it hasn't.
We monitor your accounts payable to make sure that you do not miss any discounts for paying early and that your bills actually get paid on time. Of course, you approve every payment. Each bill that gets paid is directly withdrawn from your account to your vendor so you save on postage, envelopes, and the transaction is recorded immediately so you will always know how much cash you have in the bank.
This is the recording and classification of current year information. From this information we use Accounting to Analyze and interpret the data. Through this analysis you are provided with monthly, quarterly, semi-annual, or annual financial statements to help you proactively plan and uncover needs while improve profit outcomes, not to mention a better tax return.
We use powerful programs that give you access to electronic reports for ease of use; whenever you want. No more waiting for month-end or year-end when it is already too late to do any tax planning, so what you get is what you get.
Determination of the best possible entity selection for both tax savings and personal liability protection. Examining the different options available for your entity structure in determining the optimal retirement plan and customization of guidance for your individual needs.
Planning is the key to successfully keeping your income taxes as low as legally possible. We make it a priority to stay current in all the tax laws and regulations throughout the year, not just at tax time, by then it's too late. We attend several seminars and webinars, as well as reading multiple industry publications. We use several, legal, methods to reduce your tax liability. From retirement plans to equipment purchases. We don't like surprises when your return is due.
Up to now a business owner had to shoot from the hip hoping there would be enough income to cover the expenses and put money back into your pocket.
It is imperative that you obtain operational performance & profitability. Get easily digestible financial reports and business intelligence that includes Key Performance Indicators (KPI), vertical and critical analysis and peer to peer benchmarking. These tools you need to keep your business running efficiently and profitability. These actionable insights allow you to quickly identify areas for operational improvement, for instance: How long will your current cash flow last before you run into a cash crunch? When will you be able to purchase new equipment? Do you have too much inventory on hand?
With this immensely powerful tool we will be able to help you make better and quicker operational decisions. By reviewing several company matrices, we will tell you which area(s) of your business you need to concentrate on for improvement. Finally, a way to look into your company's future. You will be able to maintain 100% visibility into your business both operationally and financially.
It is time you worked on your business, not just in it.
This is an area where you just can't be wrong. There are several government bodies that monitor the correctness of payroll processing both federal and state. Payroll processing must contain accurate payroll runs for each pay period. In those payroll runs there might be garnishments, back child support, over- and triple-time, vacation pay, holiday pay, certified payroll runs required by unions, new employee notifications, collection of required reports that your employees must complete. You need to get a state employment Identification Number, and don't forget the Federal Identification Number, then there is all the quarterly and year-end payroll tax returns that must be filed, 941, 944, 940, W3, W2 and any state forms.
“Reading a small concise advertisement in the Daily News, my inquiry of services offered by Scott M. Penn, CPA, PC & Tax Solution Services was quickly and clearly explained. An appointment was set within a few days and documentation needed for a review of my dilemma was outlined. The level of comfort I felt while sharing my dire issues and intense fear of the IRS was reassuring. My decision to retain the Scott M. Penn, CPA, PC & Tax Solution Services firm was quickly and very easily made. This journey was professionally and compassionately handled from inception to finalization. Thank you!”
“I am writing this memo to commend the superb income tax and IRS problem solving services that I received from Mr. Scott M. Penn. I have used his expertise on several occasions over the past two years and found his sensitivity, thoroughness, and consummate professionalism, have exceeded my expectations. I have recommended Mr. Penn to friends and colleagues and will continue to praise his prompt and expert work.”
“We were working with another CPA doing an Offer in Compromise with the IRS when the CPA had a heart attack and passed away. His office referred us to Scott Penn at Scott M. Penn, CPA, PC & Tax Solution Services. He took over our case and was very efficient at completing the Offer in Compromise with an exciting outcome for us. He was very honest and straightforward which made him pleasant to work with. We appreciate what he did for us very much.”
“The purpose of this letter is to commend Scott Penn and to testify to his professionalism, unwavering dedication to his clients and his willingness to take “no” for an answer when dealing with the Internal Revenue Service and other tax agencies.”
“Your tax problems become his tax problems from the day you become his client. That, in itself, is only one of the burdens he will relieve you of. Scott took my case in late 1999, and when I saw only hopelessness through denial after denial, he always saw a light, no matter how dim, at the end of the tunnel. He stays abreast of the latest changes to tax laws and applies that knowledge to your benefit.
An equitable settlement was reached in October 2002 for pennies on the dollar, just as his advertisement states. I can and do, without reservation, recommend Scott Penn to handle your business or personal taxes, regardless of whether or not you have a tax problem.”
“Just want to send a Thank You for your services this 2010 tax year. Being a small business and new homeowner, new to the High Desert and not knowing the ins and outs of taxes can be scary. Having you so prepare our taxes was less expensive than what we expected and a great education for both my wife and I. We loved sitting in your office as you went over our taxes and included us in the whole process from beginning to end. We have to admit not one part was overwhelming and we are grateful. We will continue to use your services. We were so pleased; we already recommended friends and family. Thank you!”
“Anyone requiring professional, competent tax advice and preparation should consider the services of Scott M. Penn, CPA, PC & Tax Solution Services. My wife and I have been Scott Penn’s clients for 10 years. We’ve been impressed with his courteous demeanor and expert attention to our tax planning needs. Scott has also recently helped us with tax issues regarding a family trust. We believe it was well worth having Scott assess our income tax concerns.”
“Although the notice posted on your lobby exclaims ‘Procrastination on your part does not necessitate an emergency on our part’ you made my urgency your own and accommodated my brother on extremely short notice. Your efforts make me feel genuinely important – kind of like a ‘big shot’.”
“We just wanted to say Thank You and your staff for all the time you put into your profession and giving us the quality service we have received for the past 6 years. We enjoy coming into your office for those informative appointments and updating us on the new tax laws. We are very fortunate to have you as our accountant and a friend who cares about our best interest on our finances. We know that anytime we’re going to make a major financial decision we can turn to you for your professional advice. We recommend you to our family, friends, and neighbors who are looking for an accountant with high integrity, and who is responsive to clients’ questions and concerns with exceptional service.”
“ ‘Need a Tax Guy?’ –My wife and I did eleven years ago, when we moved to the High Desert. Thank goodness we were guided to Scott. Scott, and his staff have made that time of the year (tax time) a worry free period for us—just bring him the facts and, and relax, as your concerns will be dealt with professionally, honestly, and will be a experience too!”
I would like to take a minute and commend Scott on a job well done regarding my tax return. I’ve always prepared them myself in the past. Since I have acquired property, I thought it would be best to have a professional prepare them. Boy was I amazed as to how much I could gain by doing so! Scott was fast, efficient and thorough… I look forward to being his client for years to come.
“We want to thank you for all that you have done and all that you are doing on our behalf. You’ll probably never really know what a blessing you have been for Larry & me.”
“Thank you so much for all you have done to help me with the Board of Equalization. I still believe the truth will prevail and there will be a good & happy ending to my tax problem.”
“Talk about stress reduction! Scott M. Penn, CPA, PC & Tax Solution Services made a bad situation much better, penalties & interest were reduced over $1300 to the IRS.”
“A phone call, a consultation, a reasonable fee and my IRS problems have been resolved in a timely manner. Many thanks to Scott Penn at Scott M. Penn, CPA, PC & Tax Solution Services.”
Carol and I wish to thank you for all the help in our IRS challenges. The burden was lifted immediately in just the fact we didn’t have to talk to them anymore. In closing, thanks again to you personally for saving us a ton of stress and a lot of money!
I would like to take the opportunity to express my appreciation for the service you provided in the preparation of my 2009 tax return and the time and care put into it. I felt relieved and confident that it would be handled well... and it was. Being new to the area, I am fortunate to have found such trustworthy and caring professional such as yourself.
Scott Penn has done our taxes for the last several years. We would highly recommend him to everyone. He is very thorough and efficient and has a complete knowledge of the tax laws and procedures. We had a specific problem last year that he was able to help us through. He also provides an informative and helpful newsletter during the year and his office staff is very friendly, efficient, and courteous. He’s the best!
A quick note! I love that your firm is family run and that’s how u treat me as well. Anytime I have had questions or something changed in my life you guys have always helped me steer in the right direction for me and my family. I can trust your knowledge and all your hard work thank you for all you do!
Carol and myself wish to thank you for all the help in our IRS challenges. The burden was lifted immediately – in just the fact we didn’t have to talk to them any more! In closing thanks again to you personally for saving us a ton of stress and a lot of money!
My husband and I own and operate 2 Magazine Franchises. In late 19XX our accountant literally disappeared without filing any of our personal or business returns for that year. Not being accounting savvy individuals we were quite frankly panicked over the unfiled returns. We contacted Scott Penn on a recommendation. This turned out to be the best recommendation we ever received. Not only did Scott step right in and take charge to get our records in order and get the returns filed on time but he also implemented a software package that automated our business and will prevent us from being devastated in the future by “disappearing” accountants. I would fully recommend Scott, his expertise and “can do” attitude are invaluable.
Hi Scott…Haven’t had much computer time lately but I try to read as much as possible. All of your info seems to make sense to me and would work in our situation. I appreciate it and I feel with most financial analysts/CPA folks that it would only be about them and the business or pocketbooks…And not about their client(s). Maria and I feel that you have honestly taken an interest in our case and situation. We truly appreciate your help and interest in us as not only clients and friends alike. Thank you from the bottom of our hearts!
I was very pleased with how tax solution services communicated with me, and worked very hard on my case. They got me an acceptance of an Offer in Compromise. I am now debt free! Thank you