As people run into unique situations which may affect their taxes, they may find themselves in need of a tax consultant, also sometimes called a tax advisor. Adrian D. Anderson of AA Tax & Accounting Services LLC is our tax consultant. He is a seasoned accountant with a bachelor’s degree in accounting as well as a master’s degree in accounting from Southern Utah University.
With his years of experience, he is able to offer in-depth financial advisement on unique financial situations, whether those situations become ongoing or are one-time occurrences.
One-Time Tax Consulting Services
While many people can benefit from accounting help and financial advisement, there are particular circumstances in people’s lives when it would be highly beneficial to see a tax consultant. Some of the major life events our tax consultant has assisted with have been:
- Received an inheritance – When you receive an inheritance, it can be complicated to factor the impact of the inheritance on your taxes. This process can become more complex especially if the inheritance is in dispute.
- Married or divorced – The first year you are either married or divorced can greatly change how your taxes are filed, so it would be best to consult with a tax consultant.
- Recently widowed – Dealing with the financial side of loss can be difficult on the surviving spouse. Working with a tax consultant can help smooth part of the grieving process as a good consultant can help ease the surviving spouse’s financial tax concerns.
- Bought/sold a home – Property taxes, first-time homebuyer credit, claiming mortgage payments on your taxes, paying taxes on the home you sold, and more can all contribute to complicated taxes which may require extra help to accurately deal with the taxes.
- Given birth/adopted – Welcoming a new child into your home can change your tax situation, whether you give birth or adopt. However, adoption can create very unique tax circumstances, especially depending on if you adopt domestically or internationally.
- Job changes – If you move to a new job with a pay increase or receive a promotion, it can move you into a new tax bracket. Losing your job, receiving unemployment, and other related issues are also important to address with a tax consultant.
Ongoing Tax Consulting Services
Beyond the one-time tax situations which are important to consult a tax consultant, there are circumstances which may require ongoing help from a tax consultant. Several circumstances which our tax consultant has worked on are:
- Trust funds – Whether the individual is the recipient of the fund or a contributor to a trust fund, a tax consultant can help navigate the ongoing tax implications of dealing with a trust fund.
- Stock options – Earnings and losses among an individual’s stock options can have a greatly differing effect on a person’s year-to-year taxes. To ensure the individual is being taxed correctly and to protect against audits, it would be wise to work with an experienced tax consultant.
- Foreign earnings – Dealing with the complications of money earned in foreign markets often requires expert tax advisement. Especially with the recent changes to the tax law, it is important to have a tax consultant work with those who receive foreign earnings.
- Multiple real estates – From owning multiple rental properties or simply own several pieces of real estate, having a tax consultant can help straighten out things such as which forms are required at tax time, what tax deductions are possible, and more.
- Entrepreneur – Whether an individual is the head of a thriving business or a self-employed single business person, correctly assessing taxes can be difficult. To avoid difficulties with the IRS, it would be best to work with a tax consultant.
- Retirement savings accounts – A tax advisor can not only help deal with ongoing tax implications of retirement savings accounts but can also advise which kinds of savings account can help in the future.
Bundle Tax Preparation With Consulting
Along with helping you prepare to deal with future tax situations, a tax consultant can also act as your tax preparer. By choosing to have your tax consultant also do your tax preparation, you will be working with someone who is deeply familiar with your financial situation and can best help you save on your taxes. Our tax consultant works with many clients as both their tax advisor and tax preparer.
Areas Served By AA Tax & Accounting Services
The main office for AA Tax & Accounting Services LLC is located in Cedar City, Utah. However, our accounting firm also serves these cities and towns:
- St. George
- Santa Clara
- La Verkin
Should you live in or near any of the above locations, you can take advantage of our tax consultant services. Contact us to set up an appointment and set your mind at ease when you work with our tax consultant.