Taxes. There is no one-size-fits-all or fill-in-the-blank tax preparation formula. Every tax situation is different, and that’s why Ketel Thorstenson, LLP (KTLLP) takes the time to really know you and learn the details of your business through Tax Return Preparation & Planning.

Tax laws are complex and often difficult to navigate. This is why tax preparation is crucial, and tax planning should be an important piece of your total financial planning process. Some will opt to “go it alone” when it comes to compiling tax information and filing that long list of forms with the IRS. However, there are huge advantages to hiring a tax professional.

The Tax Cuts and Jobs Act was signed into law by President Trump on Dec. 22, 2017. It is the largest tax act in over 30 years! The bill made sweeping modifications to the Internal Revenue Code, including a much lower corporate tax rate, increasing depreciation limits, and changes to credits and deductions. Individual tax changes that occurred include, but are not limited to, almost doubling of the standard deduction, multiple changes to itemized deductions, elimination of personal exemptions, and doubling of the child tax credit. It’s very important you visit with a tax professional in order to understand how these apply to you and your business, and make sure you are taking full advantage of the benefits.

KTLLP provides tax preparation and planning services for all filing types, including individual, corporate, estate/trust, partnership, non-profit, farm/ranch, and a number of other specialized niche industries. Our focus is on your financial success, we can help you turn business strengths into tax saving advantages. Trust the experts, the KTLLP Tax Team is knowledgeable and ready to be your strategic partner. At the same time, the benefits of working with a KTLLP tax professional are more than just financial. Gain peace of mind, hire a CPA to help you save on other valuable resources, such as time and energy.