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Individual Tax Preparation

Meticulous Tacoma Tax Preparation for Individuals

tax expert working on client's tax preparationAt Hayes & McColloch, we're in your corner to provide the streamlined, stress-free tax filing experience you deserve. Our tax accountants in Tacoma understand how challenging it is to keep track of constantly changing tax regulations, and we're always searching for ways to save you money. From the moment you begin working with our firm, we provide you with our full attention, resources, and support. Whether you're an expat, an investor, or a high-net-worth individual, we can help.

Since 2012, our experts have provided high-quality, meticulous tax preparation services. Our team offers the expertise of a large firm while maintaining a personal focus on your priorities and objectives. We genuinely enjoy seeing you find lasting financial success and are constantly looking out for your best interests. We're proud to support the residents of Tacoma, Federal Way, Puyallup, and the surrounding communities.

Our team is excited to explore your tax situation and goals in greater detail, so give our firm a call today to set up your initial consultation!

Call Us: (253) 627-1755 Book a Consultation

Providing You With Thorough, Tailored Tax Preparation

close up of spreadsheet and calculatorPreparing for the upcoming tax season can be a complicated, time-consuming experience, even if you're well aware of your financial standing. Our Tacoma tax accountants work diligently to make your preparation process as easy and stress-free as possible so that you can focus on your daily activities and personal pursuits. Having your taxes prepared by an experienced professional offers you numerous benefits. You can count on our team to:

  • Manage tax deadlines and file on time
  • Check your return for accuracy
  • Maximize eligible deductibles
  • Offer personalized advice for upcoming years

By combining our tax preparation and planning services, you'll be more prepared for the tax season than ever. While we're happy to offer preparation as a standalone service, our team is ready to dive into the intricate details of your situation and devise a personalized strategy for you to follow.

How Our Tax Accountants Can Help

We understand that your tax needs are unique. Our tax consultants in Tacoma take the time to assess your situation and adjust accordingly. We stay aware of changes to local, federal, and international tax regulations, so we can file properly and protect your hard-earned money. You'll find our experts to be careful, communicative, and accurate. Should you have a question regarding your obligations or our preparation process, our team is just a phone call away. We have experience with many complicated tax scenarios, including:

FBAR Filing

As a U.S. citizen with one or more financial accounts outside of the country, you may need to follow FBAR reporting requirements. If you are the controller, nominee, or owner of at least one foreign account with a balance exceeding a specific amount during the calendar year, you'll need to file a FinCEN Form 114. Should you be a U.S. expat, you may also need to complete additional paperwork on a case-by-case basis. Our team discovers which documents you require and makes sure they're completed on time so you avoid late fees and penalties.

As the owner of a business or rental property, your taxes will look slightly different from those of the typical working professional. If your rental property title is under your name, you'll need to look to Schedule E, Supplemental Income and Loss, to report your rental expenses and income properly. If you co-own a property or have ownership through a business entity, your situation may be more complex. We'll help you figure out the proper form to complete, whether it's the Schedule E or Form 8825. Our team can also assist you in determining depreciation, which can play a substantial role in your claimable tax deductibles.

If you run a small business that's registered as a sole proprietorship, you'll need to fill out a Schedule C (Form 1040). We can assist you in reporting your profit or loss from your enterprise. Although we're happy to work with all entrepreneurs and small business owners, we have particular experience assisting doctors and real estate agents.

Filing taxes on a hedge fund is very similar to filing a return for a mutual fund. If your hedge fund is structured as a partnership, you may receive a Form 1099 or Schedule K-1. Our team transfers necessary information from your Schedule K-1 or Form 1099 to your personal Form 1040, under tax obligations for an individual. We carefully evaluate your situation concerning capital gains, dividends and interests, and other distributions. Doing so allows us to keep you in compliance with eligible regulations while ensuring you don't over- or under-pay.

Calculating your tax liability for a brokerage account can be particularly challenging, as numerous factors may result in taxation. Selling a security, having stocks that pay dividends, and generating bond interest can increase taxable income. We'll help you decipher your tax obligations, freeing up your time to focus on personal endeavors and daily activities.

Trustworthy Tacoma Tax Planning for Individuals

Whether you own a rental property or have foreign financial accounts, our team is prepared to guide you through the preparation process. Our mission is to make the tax season as easy-to-navigate and straightforward as possible. We look forward to partnering with you, so give Hayes & McColloch a call today to schedule your initial consultation with one of our experts!

Call Us: (253) 627-1755 Book a Consultation

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