Joseph A. Miranda, LLC provides a wide range of services to individuals and businesses in a variety of industries. At Joseph A. Miranda, LLC, we strive to meet each client's specific needs in planning for the future and achieving their goals in an ever-changing financial and regulatory environment.
Our professional services include:
Your tax returns will be prepared professionally, accurately, and timely giving full consideration to Internal Revenue Code, state statutes, regulations and other pronouncements and tax authority, with the overall objective of minimizing your total tax burden within the legal limits of the law.
For many individuals, a simple will, drafted by a qualified attorney, may be sufficient to fulfill their estate objectives upon their ultimate passing. For many others, the consequences of inadequate planning can be devastating.
Will your estate be forced to pay unnecessary taxes as a result of inadequate basic planning? Will your son or daughter, who has been working in your business, with the hope and expectation of one day taking over, be forced to sell the business in order to pay estate and succession taxes? Will assets be subject to tax, which might otherwise have passed to your beneficiaries tax free or at a lower tax cost? Can such results be avoided?
Proper and successful planning requires a team effort between you, your attorney, and your accountant, and perhaps a financial investment adviser and an insurance agent. I have been an active member of such team efforts.
Tax planning can be a vital component in the success of your business. It is a two step process in which a CPA works closely with a client, now especially, with our ever-changing tax structure. First, during the year to monitor profitability and advise the client of possible steps to minimize his or her business and personal tax burdens. Second, planning requires attention to long term business and tax considerations which should be balanced with the current short term tax costs and benefits.
Most taxpayers should have nothing to fear from a federal or state tax audit. Most returns, when properly prepared and supported should be spared any audit changes. Qualified and experienced professional audit representation is often a crucial key to a successful tax examination.
My audit experience includes state and federal business and personal income tax audits, estate and gift tax audits, and sales and use tax audits.
State sales and use tax audits generally cover a period of three full years, and could be longer. With penalties and interest, a sales and use tax audit assessment can deal a harsh blow to the financial stability of many businesses.
Do you, or a responsible employee, understand the confusing array of goods and services subject to sales or use tax? Do you understand when you should and should not be charging sales tax on goods and services sold by your company, or paying sales or use tax on goods or services purchased by your company? And at what rate?
Business owners, especially manufacturers, are you aware of the reduced tax rates applicable to certain purchases and sales?
I can perform an analysis of your company's compliance with the complex Connecticut sales and use tax laws, and provide you with guidance to enable you to correct flaws in your system before you are faced with a sales and use tax audit.
Your company's financial statements should be a valuable management tool for evaluating the financial condition and operating results of your business. They can and should be more than a history book.
Your creditors may also require them as a condition of acquiring of maintaining credit. Are there loan covenants that you must satisfy to maintain your credit? Are you or your accountant aware of the covenants and are you monitoring the financial condition, results of operations and tax planning strategies of your business to avoid defaulting?
Tax planning, return preparation, and financial statements can only be as good, and only as reliable, as the underlying records which are used to create them. The time and effort spent to help set up or maintain your accounting and bookkeeping system is time well spent. It will allow you to devote your time and effort to running a successful business. It will allow me to provide the quality and range of services that you and your successful business will need.