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    Tax Solutions

    Business & Financial Solutions will help you with late returns, NOL carryback returns, and amended returns. The IRS will eventually catch up with you, mostly due to 1099 filings (and the IRS's matching program). If you are flagged in the IRS's system, it will then most likely send you an estimated assessment, which may include a large amount of taxes, penalties, and interest due. To avoid unnecessary expenses, take initiative earlier to improve your chances when seeking abatement of penalties.
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    Our company offers specialized help with Fiduciary Tax Returns, Individual Income Tax Returns, Corporate Tax Returns, expertise on Probate Settlement and Trust Settlement Issues, and Estate Tax Returns. Forms we prepare include, but are not limited to: 706, 990, 1040, 1041, 1065, 1099, and 1120, as well as all State Tax Forms. Business & Financial Solutions uses the latest tax preparation software for professional tax preparers.

    Company income subject to tax is often determined much like taxable income for individuals. Generally, the tax is imposed on net profits. In some jurisdictions, rules for taxing companies may differ significantly from rules for taxing individuals. Certain corporate acts, like reorganizations, may not be taxed. Some types of entities may be exempt from tax.

    A federal estate tax return, or IRS Form 706 is a specialty tax return. The United States Estate (and Generation-Skipping Transfer) Tax Return, is required to be filed only after specific criteria with regard to an estate are met. Even so, some estates may be required to prepare the IRS Form 706 Estate Return strictly for state estate tax purposes, while others should consider filing IRS Form 706 Estate Return even if a return is not required to be filed.

     

    Business & financial Solutions is a full service office with the ability to help you set up your business from the beginning concept, maintain accurate timely records and file completed returns at the end of year. This includes tax returns and reporting, as well as problems with unfiled tax returns and back taxes. Business & Financial Solutions provides help for problems with back taxes, help with IRS and state business and personal tax problems. abatements, and settlements in Rockville Maryland, Montgomery County MD and the Washington DC Metropolitan Area. In addition our company's locale with assist clients in most parts of the country. Our tax preparers are Enrolled Agents and thorough trained cor complicated returns on Forms 1040, 990, 1065, 706, 1120 and more.

    S Corporations are usually closely held with only a few shareholders. Property often passes from the S Corporation to the shareholders. Because, technically cash is property, this property is assumed to belong to the shareholders. The tax implications of Form 1120S are stressed because we assume the transaction makes sense to the IRS, but not necessarily to the taxpayer. BFS helps take the complications out of misunderstanding with the IRS and the client. You can expect that our reporting will be absolute and that you will have minimal complications with the government later. Business & Financial Solutions is located in close proximity to Gaithersburg, Bethesda, Potomac, Germantown, Frederick, Silver Spring and Wheaton, Maryland, as well as Northern Virginia and Fairfax County Virginia.

    On December 17, 2010, President Obama signed into law the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 (the "Act"). In addition to extending the income tax cuts enacted during the Bush administration, the Act contains significant beneficial changes in the estate, gift and generation-skipping transfer tax laws. Unfortunately these changes are scheduled to expire at the end of 2012, and therefore Congress will again face the question of whether these changes should be made permanent. For the near term, however, new planning opportunities exist in light of increased estate, gift and generation-skipping transfer tax exemptions. Estate tax returns are becoming more and more complicated. This is not a return that the executor of the estate should attempt to file without professional help.

    It is shocking the number of people who overpay their taxes by self-preparing their returns or going to an under-qualified tax preparer. We offer a free consultation to determine if our company and the client might be a good match for each other. We take pride in assuring you that the personal assistance you receive from us comes with years of experience, advanced training, and extensive education in each of the areas that we provide financial service. Our investment of time and resources in professional education and state of the art technology is indicative of our commitment to excellence. Business returns we prepare include IRS Estate Returns 706, 990, 1040, 1041, 1065, 1099, and 1120, as well as all State Tax Income Forms. Our Rockville office located conveniently in Montgomery County near Washington, DC, Germantown, Gaithersburg and Northern Virginia.

    Serving local areas in Frederick Maryland, Prince Georges (MD), Washington DC, Northern Virginia, Montgomery (MD), Baltimore Maryland, Fairfax County (VA), Prince William (VA), Loudoun County, Virginia, Howard County Maryland, Washington County (MD), Anne Arundel (MD), Arlington Virginia, Stafford County (VA), Gaithersbug (MD), Germantown (MD), Bethesda Maryland, Potomac Maryland, Silver Spring Maryland, Wheaton Maryland, Olney Maryland, Rockville MD

    Our Rockville office number is (240) 403-0845 or you may email us at: info@bfswebsite.com.

     

    Visit us in Rockville, Maryland (Washington DC Metro Area)

    17 W. Jefferson Street, Suite 2, Rockville, MD 20850
    Phone 240-403-0845, Fax 301-754-3638

    e-mail: info@bfswebsite.com

    Montgomery County, MD