Tax Return Preparation
Meredith & Associates offers tax preparation and planning to clients for Federal, State and Locality income tax, and other tax areas, including sales tax, gross receipts tax, franchise tax and more. Our specialties include preparing tax returns for:
- Corporations
- Estate and Trusts
- Individuals
- Limited Liability Companies
- Not for Profits
- Tax Exempt
- Partnerships
- S Corporations
Our primary objective is to minimize a client's overall tax burden whenever and wherever legally possible. Our tax services are directed primarily toward constructive tax planning beginning early in the year and maintaining close contact with our clients throughout the year.
Advance planning to minimize future taxes includes advice on tax effects of proposed transactions, corporate reorganization, and assistance in such tax-oriented areas as executive compensation, pension plans and other similar continuing services. We also have experience in providing assistance and advice in negotiations with taxing authorities.
We have developed a large base of tax clients whose size and complexity rival that of firms many times our size. We believe our success is due in large part to an added emphasis on strategic tax planning.
Contact us for more information about our tax planning services.
Case Studies
Rantal Property
— Justin H.Meredith & Associates had a tent at the Byron Nelson golf tournament. They were giving away free golf balls, but you had to make a long trek up to their office on the 16th green to get the free ProV1's. When I went up to their office, I talked to several of the people there and was impressed. I had been using the same CPA for several years, and had been paying a lot of taxes. Meredith & Associates offered me a free second opinion on my tax returns.
I made an appointment and brought both my company and personal returns. I met with Karen Meredith. She looked over the returns and started asking me a lot of questions. She told me that based on the answers to my questions; my prior CPA had mischaracterized one of my rental properties as residential rental, when it should have been classified as a hotel/motel type operation. She also brought up changes that I could make to my entity structure that would save taxes and pointed out some other missed deductions as well.
All together, the suggestions added up to more that $20,000 for one year. I hired Meredith & Associates to amend all my open years' tax returns that contained the misclassified rental property and hired them to help me with tax planning and future year's returns as well.
Texas Margin Tax
— Rob A.We were referred to M&A through a friend who raved about them. We really didn't want to go through the hassle of working with someone new because our old CPA had been with us for over 10 years. Our friend mentioned they do free second opinions, and we did feel like we were paying too much taxes for our company so we went for our hour consultation.
We were blown away when we met with Karen. She is a genuinely caring person who has setup a well oiled company from scratch. Before we even got into the tax nitty gritty, we were complaining about being disorganized, so she walked us around their office to show us some of the simple yet highly effective ways that her 20 employees get things done. They also have an IT group called Team Logic who helps us with QuickBooks technical problems now.
The greatest thing about our visit is that now we are paying 5k less in taxes to the TX Comptroller every year. That adds up fast! Karen explained that Texas recently implemented a new margin tax that has been hurting small business owners because we are taxed on gross revenue instead of net. So we could have an overall loss in the company but still owe TX money! Her team at M&A have studied the new margin tax so much that they found us ways to reduce the tax that our old CPA had no idea about. We immediately switched over to her and haven't looked back.