Business Services

Private Company

Private company employees need to plan more than ever to minimize taxes.  For instance, recent legislation has pushed more companies to offer accountable plans.

Company Plans

Accountable plans may include reimbursement for a number of different employee-related expenses, including

• Employee travel expenses, including meals

• Purchase of tools and equipment

• Employee home office expenses

• Mileage costs

• Required uniforms not suitable for ordinary wear;

• Dues and subscriptions; and

• Job search expenses for employees who have been laid off.

Corp Employees

Corporate employees can avail themselves to a wide range of planning as well as avoiding tax pitfalls.  Employee stock ownership plans, tax-deferred investments, and a large capital gain can all be opportunities to plan.

Professionals

I love helping professionals.  Whether its negotiating an equity interest in a professional partnership or helping professional clients buy out other professionals I’ve loved helping these clients get what they are entitled too.

I’ve found many clients who didn’t get what their K-1’s say they were supposed to get.  Some even get phantom income.  We recommend if your unsure about your K-1, you contact us for a free consultation.

Freelancers

We love working with a variety of fine artists, musicians, design professionals and other creative businesses.

Many of these clients want a financial professional who can be both friendly and patient.  I love playing a small role in their success and like to hear what their dreams are, no matter big or small.

• Tax Management Services

• Audits & Compilation

• Tax Return Review

• Financial Projections

• Budgeting Analysis

• Accounting Services

• Retirement Planning

• IRS Representation

• Entity Selection

DEFENSE

• IRS Representation

• Entity Selection

Business Tax Services

Establishing, running, and expanding a business brings a new set of tax considerations.  Generally speaking, new complications. We are a NJ accounting firm who serves clients with a broad range of tax structures, including corporations, partnerships and business owners.

Tax compliance can get complicated quickly, even with an internal tax function.   When doing business in multiple jurisdictions, regular reporting to federal, state, and local authorities can become a timely process, whether your business is located domestically or abroad.  Regardless of tax strategy, growth stage, or business structure, we are focused on providing timely and accurate reporting so that our clients can focus on the next steps of the business.

Business Tax Audits

If the IRS audits your business tax return, the IRS is taking a closer look to see whether the business included all income and took only the deductions and credits allowed by law.

IRS audits usually aren’t random. The IRS selects returns that are the most likely to have errors, based on complex criteria. After you file a return, the IRS usually has three years from that point to start and finish an audit. The IRS starts most tax audits within a year after you file the return, and finishes most audits in less than a year.

The IRS audits returns in three ways:

• By mail (correspondence audit)

• At an IRS office (office or desk audit)

• In person, at your home or business (field audit)

The IRS does most business audits in person (the field audit). These audits can be extensive, often considering all aspects of the business and its owner(s). The field audit will look extensively into the business records and accounting system, and conduct tests to determine the accuracy of income. The average business audit can take a year to complete. Businesses can reduce this time by preparing well for the audit and responding promptly to audit questions and requests.

Individual Services

Individual Tax Services

Expert individual tax planning and advice.  The Monmouth County accounting firm you can rely on.

The goal of tax planning is to arrange your financial affairs in order to minimize taxes.  Tax planning includes the timing of income, purchases and other expenditures, selection of investments and types of retirement plans. 

The best way to achieve client’s goals is by realizing opportunities.  The  Tax Cut and Jobs Act limits the total state and local tax deduction to $10,000, for instance.  However, if you rent space in your home, a portion of the real estate taxes can be apportioned to the rental activity.

We love working with the NJ Airbnb short term rental tax hosts.  Every day that your home is rented is another day of mortgage interest or real estate tax which can be deducted regardless of the limitations.

FINANCIAL PLANNING

It’s Never Too Early or Late to Start Saving for the Future

• Budgeting Analysis

• Accounting Services

• Retirement Planning

IRS Audits

The biggest reason to use a CPA for your income taxes.

Gino CPA is eligible to represent you before the IRS!

Accountants who are not CPA’s can only represent clients in a very limited manner.

Tax Audits

If the IRS audits your income tax return, the IRS is taking a closer look to see whether the you included all the income and took only the deductions and credits allowed by law.

IRS audits usually aren’t random. The IRS selects returns that are the most likely to have errors, based on complex criteria. After you file a return, the IRS usually has three years from that point to start and finish an audit. The IRS starts most tax audits within a year after you file the return, and finishes most audits in less than a year.

The IRS audits returns in three ways:

• By mail (correspondence audit)

• At an IRS office (office or desk audit)

• In person, at your home or business (field audit)

The IRS does most audits in person (the field audit). The average audit can take a year to complete. Individuals can reduce this time by preparing well for the audit and responding promptly to audit questions and requests.