Tax and Daily Money Management Services

Results

We are a results-driven firm and work hard every day to save our clients time and money.  Our firm is large enough to offer a full range of professional services, but small enough to give you the individual attention that you deserve.

Relationships

If you’re looking for a firm that will focus on your individual needs, and always treat you like a client who matters, look no further.  We are your trusted partner in success.

Relief

Rest assured that when a need arises, our firm is ready and capable to handle everything for you so you can focus on what matters most to you.  We will thoroughly and conscientiously study your personal situation, and tailor our advice to your specific needs.

Daily Money Management

As personal financial matters become more complicated – finding time to focus on the daily tasks of money management becomes more difficult. Gudgel Professional Services (GPS) offers services to ensure nothing falls through the cracks including necessities like monthly bill payments, tax preparation, quarterly reports, balancing checkbooks, and decoding medical bills.

DMMs work with a variety of clients such as:

  • Seniors and older adults
  • Adult children of older adults
  • Executors and Trustees
  • Busy professionals
  • People with disabilities
  • High net worth individuals and families
  • Small businesses owners
  • Frequent travelers
  • Military personnel and veterans
  • People in life transition

Not everyone is ready or able to manage the tasks associated with daily money management. When you hire Gudgel Professional Services to assist with your needs, you have peace of mind knowing that a dedicated, trained professional will ensure your daily financial matters are handled in a timely and professional manner so you can focus on the things you enjoy.

Return to Top

Contact Gudgel Professional Services

 

Tax Preparation and Planning

GPS Prepares income tax returns for individuals, small businesses, estates, and trusts.  We can also assist with prior years, estimated payments, payroll filings, and information reporting requirements.

Effective tax preparation and planning can help you to minimize your future tax liability.  We can help you proactively manage both your personal and your business tax issues, including understanding how upcoming business opportunities impact your tax status and vice versa.  Similarly, we can help analyze how an estate or trust may affect your taxes or your beneficiaries.  Not all tax planning opportunities are readily apparent.  By having us on your team, you are more likely to benefit from those opportunities.  We understand how the latest federal, state and local tax legislation and other developments affect you and your business and we are constantly identifying new ways to reduce federal, state or local tax liabilities.

Return to Top

Contact Gudgel Professional Services

Estate & Trust Accounting and Taxes

Did you know that if you have a trust or are trustee that there are special accounting and tax filings?  If you have a trust, do you understand how the beneficiaries will be taxes?  GPS can provide guidance on trust accounting and taxes.

Estate matters affect everyone.  By taking proactive steps today, you can ease the way for your heirs during a very difficult time.  We can work with your legal counsel to help you structure your estate and trusts to minimize taxes and ensure the smooth transition to your heirs.  We are available to handle all estate and trust tax-related matters.

Return to Top

Contact Gudgel Professional Services

Household Employee Payroll

Did you know that the caregiver or companion that you hired is likely a household employee?  Some people know this as “Nanny Taxes”, since the same rules apply when you hire a nanny to take care of your baby or a companion to assist your mother.  As a household employer you have to provide tax documents to your employee and may have to file estimated payments.  GPS can help you through this process.

Constantly changing federal, state and local laws and tax regulations make payroll an ongoing challenge for business owners, and even more so for individuals hiring household employees.  Our payroll services professional are well versed on these laws and regulations.  We can proactively alert you to material changes that will affect you and your employees while also keeping payroll running smoothly no matter how busy you become.

Return to Top

Contact Gudgel Professional Services


Other Services

Tax Problem & Resolution Services

Back Taxes Owed

Have you filed your tax returns every year, but not payed all the tax you owe? Maybe you just didn’t have enough money at the time and planned to pay more later. Unfortunately, the penalties and interest that are added to back taxes greatly increase how much you will ultimately owe the government. If you are delinquent on your taxes and haven’t yet heard from the IRS, you soon will. The IRS may place a lien on your property or a levy on your bank accounts or wages. The potential damage from unpaid back taxes can be financially ruinous, but it is often avoidable. We can help you assess your tax debt options and negotiate a workable payment plan with the IRS. Unpaid back taxes is a problem that rarely goes away on its own. Contact us today and resolve your tax liability issues.

Return to Top

Injured Spouse Relief

You may qualify for Injured Spouse Relief if the IRS uses the refund from your joint return to offset certain past-due debts that are the sole responsibility of your spouse or former spouse, such as taxes, child support, or student loans. Injured Spouse Relief should not be confused with Innocent Spouse Relief. You may be classified as an Injured Spouse if you do not receive your portion of a refund because of your spouse’s debt, whereas Innocent Spouse Relief applies to debt for which you are technically co-responsible, but not liable because of circumstances. Whatever the cause, we can help you rectify an unfair tax liability and get you your money. Our tax experts will closely examine your case to see if you qualify for Injured Spouse Relief and/or any other IRS Relief programs.

Return to Top

IRS Audit Representation

Have you received a Notice of Audit and Examination Scheduled from the IRS? An IRS audit is a review of an organization’s or individual’s accounts to ensure information is being reported correctly. Ignoring an audit usually means the IRS files your return for you and you end up paying much more. An IRS audit is a serious situation, but with experienced help most tax difficulties can be resolved. You don’t have to face an audit alone. Our associates are qualified to represent you before the examination division of the IRS. Oftentimes we can save taxpayers many times the cost of representation and quickly bring the audit to a close.

Return to Top

Levies and Seizures

Levies and liens are often confused, but they are actually quite different. A lien secures the government’s interest in your property when you don’t pay your tax debt. A levy actually takes the property to pay the tax debt. If you don’t pay or make arrangements to settle your tax liability the IRS can levy, seize and sell any type of personal property that you own or have an interest in. Even your retirement accounts and home are fair game. If you have received a Notice of Intent to Levy please contact us immediately. There is a brief time period where we may be able to appeal the process and negotiate a workable payment plan before the levy even begins. Levies are best understood by examining their primary asset targets.

Return to Top

Obtain Your IRS File (Freedom of Information Act)

The Freedom of Information Act, or FOIA, gives any person the right to access their IRS file. Knowing what the IRS has in your file is a great place to start when resolving a tax issue. Furthermore, it is probably as important to find out what the IRS does not know about you as it is to see what they do have in your file. We will make a discreet request for your information from the IRS so as not to draw undue attention to any tax liability. After we acquire your IRS file, we will explain it to you in layman’s terms, as well as recommend a course of action that will set you on the road to ending your tax controversy.

Return to Top

Offer in Compromise

An offer in compromise allows you to settle your tax debt for less than the full amount you owe. It may be a legitimate option if you can’t pay your full tax liability, or if doing so would create a financial hardship. The IRS will generally approve an offer in compromise when the amount offered represents the most it can expect to collect within a reasonable period of time. But the Offer in Compromise program is not for everyone. We will analyze your financial situation to see if you are eligible. If you do not qualify for an offer in compromise, we can recommend other payment options that will resolve your tax debt.

Return to Top

Payroll Taxes Owed

Falling out of compliance with IRS payroll regulations can destroy your business. Not only that, it can ruin your personal finances. Perhaps you’ve gotten behind on payroll taxes through an oversight or a temporary lack of funds. Whatever the reason, it is important to note that the IRS pays particular attention to small businesses that fall behind on their employees’ federal withholdings. If the IRS decides that your business has violated payroll tax rules it may come after your personal bank accounts and assets–even if your business files for bankruptcy protection. If you have received correspondence from the IRS about payroll issues, you need experienced representation now. Let our tax experts help you resolve your payroll tax issues so you can get back to running your business.

Return to Top

Penalty/Interest Abatement

One of the worst things about IRS tax controversies are the penalties and interest tacked on to your original bill. There are penalties for late filing, late payment, and negligence, to name but a few–and the interest on unpaid taxes can rapidly increase your total tax liability. If you are struggling with unpaid taxes plus additional penalties and interest, we can help. The IRS may abate certain penalties if there is reasonable cause and the failure was not due to willful neglect. Many taxpayers who have not previously had major issues with the IRS can qualify for a first time penalty waiver. Generally, the IRS does not revoke interest charges, but some established interest suspension provisions do apply–especially where the IRS has made an error. We understand if you are overwhelmed by penalties and interest. They often appear arbitrary and unfair. We will carefully scrutinize your tax situation to see where penalties and/or interest may be waived.

Return to Top

Statute of Limitations

The Statute of Limitations dictates the amount of time allocated for certain tax-related actions. For example, the IRS has three years to audit your tax return or send you a refund, but they have ten years to collect after a tax has been assessed. There are some exceptions to the ten year collection rule. Applying for certain payment arrangements will suspend the ten year time frame while those arrangements are pending, but add extra time to the statute of limitations for your case once the suspension period is over. It is important to know when the Statute of Limitations expires, but it is just as important to know what to do with that information. We have the expertise to help you make those decisions. Sometimes, filing for a certain status or payment plan can do more harm than good. Everyone’s tax debt issues are different and it is critical that all factors be considered. Our tax professionals will find out how the Statute of Limitations applies to your circumstances and then advise you as to the best course of action to take.

Return to Top

Unfiled Returns

If you have neglected to file a tax return from a previous year or years you should do so immediately–even if you think you can’t pay. The penalties and interest you may face for not filing a return are often much worse than if you file but do not pay in full. In other words, you have nothing to gain by not filing tax returns except hefty fines and possible jail time. We have the expertise you need to straighten out your misunderstanding with the IRS.

Once we have filed your missing returns, we can help you work out a payment plan or an Offer in Compromise. Please note that the IRS will not accept any payment arrangement or revoke a lien or levy until all delinquent tax returns are filed. Contact us today to learn more about filing your overdue tax returns.

Return to Top

Call today to schedule an appointment!