It is extremely difficult and time-consuming to study the US tax code and tax court cases and retain much of it in your brain, if that is not what you do for a living. It is a common knowledge that the US tax regulations reach an astounding 75,000+ pages, let alone all accumulated data on tax court cases and decisions.
However, we know that often the success of your venture or your financial well-being depends on tax treatment of certain situations you encountered. Often, it is foolish to take a tax position just based on one’s perception, reading articles on Internet, or drawing parallels with others. Your situation is unique in many ways, and accordingly it requires a more fitting tax treatment.
Davidoff & Associates CPAs, an Alexandria VA accounting and tax firm, can assess your situation, conduct research and write a memorandum or opinion letter laying out all pros and cons of taking a particular tax position on your individual or business tax return. In addition, we can consult you on any tax topic of interest, explaining how your tax liability can be affected by one or another tax move. Finally, we can conduct a full-scale tax planning to prove our advice with numbers.
As we have seen with other clients, investing into tax consulting and tax planning will usually yield significant tax benefits and peace of mind knowing that proposed tax treatment or moves are all fully compliant with the US tax code, if executed properly.
For a free assessment of your situation, please contact us today to schedule a meeting or phone call.