Tax rules change over time. A professional review can help you organize questions and records. An Enrolled Agent can help review applicable deductions, credits, records and IRS notices. Con un EA, puedes revisar tus opciones y obligaciones; los ahorros y resultados dependen de tu situación. Discuss the scope of tax preparation, bookkeeping, Controller/CFO support or IRS representation with Henriquez Accounting before engaging services.
Table of Contents
4 Myths About Tax Rules and Filing
- Myth: Software catches everything.
- Software can assist calculations, record organization and some planning, depending on the product. It does not itself establish the taxpayer’s eligibility or provide an authorized representative; complete inputs and appropriate review remain necessary.
- Myth: An LLC guarantees tax savings.
- Fact: Savings depend on entity election, pay mix, and state rules.
- Myth: Receipts aren’t needed for small amounts.
- Fact: Keep records that substantiate income and claimed expenses. Documentation supports a response to an audit; it does not guarantee its outcome.
- Myth: STR/LTR rules are the same.
- Fact: Short-term rental treatment requires review of the activity classification and applicable participation tests. Material participation alone does not determine every rental activity’s tax treatment.
Tax Rules That Need Individual Review
- Entity & compensation: S-Corp timing, reasonable salary, basis tracking
- Recordkeeping: Accountable plan, mileage logs, home-office policy
- Credits: Check the relevant tax year, eligibility, phaseouts and program expiration dates before relying on a credit.
- Depreciation: Section 179, bonus, cost segregation for rentals
- Real estate: 1031 deadlines, STR licensing & tourist tax in Florida
- Multi-state: Nexus, source income, remote workers
4 Steps in Professional Tax Review
- Plan: Year-round strategy—entity, timing, credits/deductions
- Prepare: Return preparation and organized supporting files
- Represent: Notices, payment plans, audit support ante el IRS
- Review: Periodic projections and year-end discussions can help identify changes; they cannot eliminate unexpected liabilities.
Who We’re a Great Fit For
- Small businesses & LLCs: QBI, payroll, sales tax, 1099s
- S-Corps: Reasonable comp, distributions, health & retirement
- Real estate investors: STR/LTR, cost seg, 1031, TPP tax
- E-commerce: Inventory, marketplace reports, multi-state nexus
FAQs
EA vs. CPA—what’s the difference?
The IRS credential guide explains professional designations. An EA is federally enrolled to practice before the IRS; a U.S. CPA holds a state-issued license. Check active status, relevant experience and agreed services. Either credential requires separate client authorization for IRS representation, and neither alone identifies the best provider for every situation.
Can you help with IRS letters or audits?
Henriquez Accounting can discuss assistance with IRS notices, audits or payment-plan requests. Confirm representation authorization, response deadlines, fees and the agreed scope. Penalty relief and payment-plan approval depend on the facts and IRS requirements.
Do you offer fixed pricing?
Ask for a written proposal stating which services are included, the price, billing schedule and any additional fees. Do not assume bookkeeping, tax filing and CFO support are included in one package.
Is an S-Corp always better?
No. Review eligibility, expected profit, reasonable compensation, payroll costs, administrative obligations and state rules before making an S corporation election. Compare the full costs and benefits for your circumstances.
Before your consultation, make a list of changes since the prior return: ownership, payroll, property activity, new accounts or notices. Identify missing records and who can obtain them. Ask which tax rules affect the decision you are considering and which facts still need verification. Keep the agreed actions, owners and deadlines in writing.
Ready to Review Your Tax Rules and Records?
Services: Tax Preparation • Bookkeeping • Controller/CFO • IRS Representation
