Do you own a business and think you are paying too much in taxes? You are probably right.
Every year we help businesses in the Annapolis & Baltimore region recover thousands of dollars in unnecessary taxes because they missed deductions that were available to them. Whether your company is a sole proprietorship, an LLC , a C Corporation or S Corporation, the experts at QualiTax make sure you get every tax deduction to which you are entitled.
We offer a free consultation to determine how much we can reduce your tax burden on your individual or business taxes. We have over 37 years of experience working with every type of business in and around Anne Arundel and Baltimore Counties.
We Serve All Industries
Your business is unique and entitled to certain deductions specific to your industry. Sometimes these deductions are missed because they apply only to certain businesses. Our business tax experts will give you a free evaluation to determine if you are paying the lowest taxes possible.
Some of the main industries we work with include:
CONSTRUCTION COMPANIES & CONTRACTORS
Are you taking the proper depreciation for your vehicles? You can deduct your transportation expenses, but should you use the Standard Mileage Rate ($0.575 per mile) or Actual Costs Method? Let us determine the right method for you.
REAL ESTATE AGENTS, LANDLORDS & INVESTORS
Real estate agents can take advantage of many deductions including supplies, fees for professional services, business travel, meals, office expenses, car deductions and insurance. Self-employed people are also allowed to deduct 100% of their health insurance premiums from their income taxes.
Landlords and investors have specific rules and requirements to maximize their deductions, and we will ensure that you take all of them.
Like any business, law firms can deduct “ordinary and necessary” expenses that are appropriate and helpful in developing and maintaining the firm.
Some business expenses are fully deductible if the benefit is used during the taxable year. However, if the benefit of your asset lasts longer than one year such as the purchase of a computer, smartphone or furniture, then the expense must be capitalized, meaning a portion of the cost must be deducted over a period of years. There is a way to make capitalized assets fully deductible by using the Section 179 deduction. We can advise you on the best route to take.
One major difference between being an employee or self-employed is the tax records. For example, self-employed entrepreneurs should receive a Form 1099-MISC from every client that pays them at least $600 during the tax year resulting in many different 1099s to itemize. We take the burden of keeping your tax records organized so you can take care of business.
RESTAURANT AND HOSPITALITY
The restaurant industry has many little-known tax deductions which can make a big difference in profitability. Restauranteurs should be tracking all wasted or spoiled food, cooking oils and condiments because they are deductible.
Are you taking advantage of deductions such as the Work Opportunity Tax Credit (WOTC), driving mileage, employee meals, F&B indirect write-offs, charitable donations and the Section 179 deduction?
Not sure? Give us a call, and we will explain everything.
DENTISTS AND MEDICAL PROFESSIONALS
No dental or medical practice should pay over 30% in taxes, state, federal and self-employed combined! We will review and advise you on your entity classification to be sure you are paying the least amount possible, if you have not already done so. As a corporation, you qualify as an employee of the company, entitled to medical benefits and tax savings not available to sole proprietors or partnerships.
About Our Confidential Proven Experience
Valerie McLaughlin, our CEO, is an Enrolled Agent Admitted to Practice before the Internal Revenue Service, a Dave Ramsey Endorsed Local Provider and Certified Business Profit Consultant.
Christina Bennett is a Certified Public Accountant, a Certified QuickBooks Pro Advisor, a member of the American Institute of CPAs, the National Association of Tax Preparers and the Maryland Society of Accounting & Tax Professionals.
Together, we have developed a professional accounting team that solves any business tax issue you may have.
Two-Step Accurate Tax Planning Saves You Money and Headache
Our goal At QualiTax is for you to keep more of what you make through proactive tax planning. Tax laws change every year for both state and federal taxes. It is important to work with us to stay abreast of the latest changes, so you pay the least amount of taxes without raising any red flags with the IRS.
Our two-step approach will simplify your reporting and save you money.
Step One – The most important part of any tax strategy is to set up your company with the proper structure. We provide free business consultation and analysis to show you the benefits of setting up the right type of structure for your business. Business types include S-corporation, C-corporation, Partnership, Sole Proprietorship or LLC.
Step Two – We will implement our quarterly tax planning services to keep your taxes and deductions up to date, ensuring you pay the least amount of taxes possible. Quarterly tax planning also keeps your records current for any business need.
Let Us Simplify Your Business Tax Preparation and Filing
Leave your tax preparation to the business tax specialists at QualiTax. We take care of all your business returns including:
- Business Income Tax Returns – Form 1120, Form 1120S, Form 1065 and Schedule C
- Federal Payroll including 941’s, 940’s, W-2’s and 1099’s
- State Payroll (All States) – Withholding & Unemployment Returns
- Personal Property Tax Returns
- Sales Tax Returns
- Business Advisory Services and Tax Planning – Consultation & Creation of Business Plans
- Bookkeeping Services – Including QuickBooks Setup and Clean-up
Hiring QualiTax means you have more time to focus on your business instead of struggling with taxes.
Call for Your Free No Obligation Consultation Today!
It can cost you money if you wait until the end of the year. Start planning next year’s tax strategies today! The best tax strategy is to meet with us within 90 days after filing to review your previous year’s tax return and make plans for the current year.
This consultation will help you get a better understanding of what we offer and how our services can benefit your business. We can have the meeting with no obligation.
If you already have an accountant, the transfer is hassle free, simple and we take care of it all for you.
QualiTax is a very professional company who represented me in a matter with the IRS. I am very happy to recommend them to everyone.
I have appreciated the services of QualiTax for more than 15 years. The excellent service and responsiveness of Valerie and her staff take the stress out of managing three small businesses and our personal finances. Thank you for great service.
They cleaned up our QuickBooks file and amended our business and personal income tax returns. We saved $32,830 in taxes.