San Francisco, CA Accounting Firm | Tax Preparation Page

Preparing your own income tax return can be a task that leaves you with more questions than answers. According to a study released by the US Government's General Accounting Office last year, most taxpayers (77% of 71 million taxpayers) believe they benefited from using a professional tax preparer.

Whether we like it or not, today's tax laws are so complicated that filing a relatively simple return can be confusing. It is just too easy to overlook deductions and credits to which you are entitled. Even if you use a computer software program there's no substitute for the assistance of an experienced tax professional.

Here's what you get...

Our tax preparation services help you get your taxes completed correctly and on time. Please call us to schedule an appointment.

Below you will find a listing of the documents that we will need in order prepare your tax return:

Proper record keeping is one of the most important things that a small business can do when it comes to their taxes. Individuals that have complex tax situations also require proper recordkeeping. Kustov & Associates will assist you in developing a plan to reduce the time and effort that you expend on accounting and tax records.

We provide all of our clients with a client organizer for tax purposes. This helps to define exactly what records need to be kept. Developing and improving an organized format for your recordkeeping will make the tax process easier.

Information and supporting documentation used to prepare tax returns

Copies of your last 3 years’ tax returns, if not prepared by our office
Copies of all compensation and pension distribution reports – W-2(‘s), 1099(‘s), etc.
Form(s) SSA 1099 (Social Security benefits)
Form(s) 1099 (interest, dividends, etc.)
Schedule(s) K-1 (income/loss from partnerships, S corporations, etc.)
Form(s) 1098 (mortgage interest), property tax statements and property tax receipts
Brokerage From(s) 1099-B from stock, bond or other investment transactions
Closing statements pertaining to real estate transactions, including refinancing
Form(s) 1098-E for student loan interest, Form(s) 1098-T for tuition payments
All information regarding educational expenses and fees, scholarships, etc.
All other relevant supporting documents (schedules, checkbook registers, etc.)
Any tax notices received from the IRS or other taxing authorities

For small businesses some records include:

Checking account and bank statement information. Computerized bookkeeping of your business accounts is recommended. We support QuickBooks.
Records of all income sources. This should be totaled and accounted for monthly (and in some cases daily and weekly) with appropriate backup documentation.
Records of all expenses. Disbursements showing all payments made should be meticulously saved. This includes all check, cash and credit card disbursements. All invoices, bills and receipts related to this should be maintained as part of the recordkeeping. Purchase of assets such as vehicles, equipment and real estate used for business may require special depreciation analysis.
Employee compensation and tax records. This can get complex so it is important to evaluate this regularly and keep current. Our firm can assist in setting up a proper system for maintaining payroll records.

Our team is qualified in not only understanding all the intricacies of the complex tax code but also in helping you navigate through tax implications in order to make better decisions. We will help you achieve your goal by taking care of all the tax work for you so that you can focus on your business and take the advantages of the opportunities for savings from compliance burden.

Books a Mess? No Problem!

If you own a small business and haven't kept up your bookkeeping, don't worry. We can help you. We'll prepare your bookkeeping for the year, prepare a full Schedule C, as well as your personal income tax return. Then we'll help you set up an easy system that allows you to keep your books in tip-top shape next year.