Tax Services

Tax Services

At DeMott & Smith CPA’s P.C., we provide a variety of individual and business tax preparation and planning services.  We serve a range of needs from individual tax return clients to small and mid-size businesses operating in both the Rochester, New York area and throughout the country.  Our objective is to provide outstanding value to our clients as it relates to industry expertise, personal service, and focused accurate solutions to any and all tax preparation and planning activities.

 

Find our list of services below:

Individual Tax Planning

Change is inevitable, and it is our job to stay abreast of changes in tax law and how those changes will impact our clients. Tax planning is the foundation of our work. At DeMott & Smith CPA’s, P.C., we provide creative, detailed planning to help clients avoid surprises and minimize their overall tax burden. When a unique situation arises, count on DeMott & Smith CPA’s, P.C. to provide a comprehensive tax plan.

Individual Tax Preparation and Compliance

We aim to make tax preparation as painless as possible for our clients. Many individuals find that our personal approach to tax preparation makes the process more comfortable and also provides an opportunity to discuss issues that one wouldn’t normally consider a part of tax preparation. We have years of experience working with a diverse group of individuals and providing high-level tax expertise and service.

Business Tax Planning

The CPAs at DeMott & Smith CPA’s, P.C. take a proactive approach to business tax planning. We build on our decades of experience to help our business clients reduce their tax burden and maximize their cash flow. We will develop a well thought-out plan which includes the maximization of shareholder and employee benefits, compensation planning, timing of tax payments, analysis of book/tax differences, and other relevant items. Each client requires a unique plan, and our relationship-driven approach combined with our strong technical ability allows us to develop a thorough tax plan for your business.

Business Tax Preparation and Compliance

DeMott & Smith CPA’s, P.C. strives to understand the intricacies of each business client so that we are able to provide them with accurate, efficient tax preparation services. We will work closely with you, the business owner, and your accounting staff to maximize your current tax savings and identify opportunities for future benefits, as well. Beyond tax preparation, it is also our mission to help our clients understand how the tax code impacts their business and the strategies that can be implemented to provide the most value possible to the business and its stakeholders.

Trust and Estate Tax Preparation and Compliance

DeMott & Smith CPA’s, P.C. works closely with trustees, executors, and families to provide tax compliance services to trusts and estates. We help our clients understand the complexities of fiduciary tax compliance while carefully reviewing the impact to beneficiaries and any possible planning opportunities. We also provide outsourced fiduciary tax preparation services to trust and estate attorneys to accurately and efficiently handle income tax compliance.

Tax Controversy Issues

We provide a variety of tax controversy services. Often times, individuals and businesses are faced with IRS or State notices which seem intimidating and difficult to understand. We have the experience and expertise to respond to notices and audit requests and protect our clients’ rights. We also represent clients in numerous types of audits, including Federal and State income tax audits, sales tax audits, employment tax audits, and other audits by government agencies. We have a unique approach to representing clients in these controversies which has resulted in great success over the years.

Sales Tax Preparation and Compliance

New York State (and other states’) sales tax law can be one of the most difficult areas of understanding for clients. At DeMott & Smith CPA’s, P.C., we provide sales tax preparation, research, and other compliance and controversy support. We have the talent and resources to assist our clients with this complex practice area so that clients can focus on running their businesses.

Multi-State Tax Compliance Services

Every state takes a different approach to income taxation. The professionals at DeMott & Smith CPA’s, P.C. will help you navigate the complex rules and filing requirements when doing business in multiple states to ensure that compliance is achieved without paying excessive costs or excessive taxes.

International Tax Services

DeMott & Smith CPA’s, P.C. offers U.S. tax preparation services to citizens living and working abroad, as well as for foreign citizens doing business within the United States. We are well versed on opportunities including foreign income exclusions, foreign tax credits, and other complex filing requirements. For clients located on different continents, dealing with U.S.-based tax agencies can be daunting and we will help to make the process as streamlined as possible while maintaining an open line of communication throughout the engagement.

Estate Tax Planning

Estate tax planning is a complex, sometimes overwhelming concept. Our approach to estate tax planning begins with listening. We work to understand your goals and wishes, and then use our experience to help create a plan that suits your needs while being flexible enough to adapt to inevitable changes along the way. In constructing an estate tax plan, we work closely with a team of independent advisors including attorneys, financial advisors and insurance consultants. This holistic approach helps to ensure that the minimization of estate taxes is accompanied by the maximization of family wealth and the elimination of uncertainty as to your ultimate wishes for your family.

Federal & State Tax Credits Assistance

Income tax credits provide significant economic benefits to businesses of all sizes. Federal and State tax credits require a thorough understanding of the tax law, related credits, and the client’s business. We work with our clients through the entire tax credit process, starting with identification and evaluation, and through to the preparation and implementation of applicable tax credits.

Retirement Planning

At DeMott & Smith CPA’s, P.C., we understand that the concept of retirement becomes as much of an emotional conversation as a financial conversation. We counsel our clients on the changes that they may face as they transition into retirement, focusing on items such as cash flow analysis, income tax considerations, investment allocation, long-term care planning, and a multitude of other relevant issues. We also work closely with a client’s team of advisors to provide objective advice and to develop a well thought out, collaborative plan.