Our Services

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, 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. But you don’t have to go it alone. Professional tax preparers are paid to keep up with the tax code and their expertise can help ensure that you get all the deductions and credits you are eligible to receive.  Anyone can do data entry, however a seasoned tax professional will provide you with the following:

Here are the top 10 reasons why you may want to hire a professional tax professional:

1. It can save you money. If your tax preparer finds even one deduction or tax credit you may have missed, it can easily exceed the fee it costs to have a professional prepare your return. 
    
2. It saves you time. The Internal Revenue Service reports that it takes nearly 20 hours to complete the average tax return with deductions. Your time is worth money. How much is it worth to you to get that time back?
    
3. Tax professionals can answer your questions and resolve issues. It’s very likely you will have questions about your taxes. Calling the IRS means you could be on hold for hours. Tax professionals can answer most of these instantly.
    
4. The tax code is very complicated. Professional tax preparers keep up with it and all those changes each and every year so you don’t have to. 
    
5. You gain peace of mind. Just knowing that a professional is handling your taxes reduces stress.
    
6. Making mistakes can be very costly. In terms of missed deductions or triggering an IRS letter or audit; a tax professional can help eliminate errors and ensure your returns are prepared correctly.
    
7. You benefit with money-saving tax planning. Tax professionals can advise you now and all year round on the best strategies to make smart tax-saving decisions.
    
8. Your previous returns can be also reviewed. A tax professional can look at your past returns to see if any deductions were missed and, if so, amend them for you.  
    
9. You can reduce your risk of an audit. And, if you are audited or the IRS starts asking questions you can’t easily answer, a professional tax preparer knows how to deal with the IRS.
    
10. It takes the hassle out of doing it yourself.
     

If you plan to hire a tax professional to prepare your taxes, you do need to gather and organize your records, including W-2 forms, 1099 forms, mortgage and bank statements, charitable contributions, and so forth. Being organized saves your tax preparer time and keeps the fees down.

Here's what you get...

• Your tax return will be checked and rechecked by our computer software identifying potential problems the IRS may look at more closely and reviewing the math to limit IRS contacts.
   
• Your tax return can be filed electronically so you will get a refund back quicker.
   
• Our staff will show you how to adjust your payroll withholding to get more money back each week. Why give the IRS an interest free loan for up to 16 months.
   
• We will show you potential deductions to limit your tax liability for next year. In addition, we will give you a sheet of commonly overlooked deductions to limit the following year's tax liability.

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.

Companies preparing business taxes in Hawaii are plenty.  It is important to choose the right company for your business taxes,  and any company needs to make this decision responsibly. There are multiple factors that one needs to consider some of which are does the company offer bookkeeping and payroll services and how accessible is your tax professional throughout the year. We believe that a good bookkeeper and a tax professional is an essential partner in the business’ future growth.

When it comes to corporate taxes it is absolutely essential to sweat the small stuff. When and how did the ownership percentage change, does the balance sheet reflect the correct amount of depreciation, are the proper retained earnings accounted for etc. Although we see many small business owners trying to do their bookkeeping themselves to save on professional costs. Rarely a match for work performed by an experienced bookkeeper. DIY bookkeeping oftentimes lack essential financial documents such as statements of Cash Flows, Balance Sheet and Equity Statement. In case of an audit, do-it-yourself financial statements stand to hold more harm than benefit.

Erase Your Tax Frustrations

We're excited to build the best possible tax strategy for your company. 

• Small business tax preparation must be combined with quality consulting if you're going to succeed as an entrepreneur. Our platform is built on this idea.  If you're tired of hearing from your tax accountant once a year and are looking for more proactive support, then start by getting a free tax consult with us.
• You need to know what's going on.  Without a plan, taxes can destroy the growth trajectory of any business.

Here at Tax Services of Hawaii we'll teach you to never FEAR taxes again.  We don't offer cookie cutter services, instead we customize everything to meet your needs and expectations.  Having an experienced tax professional makes a huge difference in the tax strategy you apply for the coming years.  You need a plan and a professional to keep the plan on track.  Small business tax preparation is only part of the equation.

At Tax Services of Hawaii, we do more than just prepare your return.  You get a tax partner to help you throughout the year.  Each quarter, your tax consultant will analyze your tax strategy and meet with you to discuss your options.

From now on, you'll know what your tax liability is and you'll have a plan to manage it.  As one of the most affordable and experienced tax firms for entrepreneurs, we are geared to serve you and your business at our highest level.

No matter your entity structure, we can help maximize your deductions.  Our comprehensive business tax preparation will ensure no money is left on the table and give you piece of mind and confidence to file your tax return.  We use advanced technologies and practices to ensure the time spent on your tax return is focused on strategy and accuracy instead of data input.

Give us a call at (808) 529-1040 or send us a quick email at support@myhawaiitax.com with any questions you may have.

Are you having problems with the IRS?

We're here to help you resolve your tax problems and put an end to the misery that the IRS can put you through. We pride ourselves on being very efficient, affordable, and of course, extremely discreet. The IRS problems will not just go away by themselves; they just keep getting worse with penalties and interest being added each day.

If you owe the IRS, you have a very serious problem. It may take the IRS several years to catch up to you, but they're relentless and have no mercy in collecting all the money that is owed. When the collection process starts, they'll make your life miserable and literally ruin all aspects of your life.

Please take a look through our complete IRS problem resolution services.  Feel free to visit our sister company that specializes in working with you on any tax problem that you may have.  You can visit their website Tax Resolution Services of Hawaii.

NEXT STEPS

IRS AUDIT REPRESENTATION

BACK TAXES OWED

IRS LIENS & LEVIES

IRS SEIZURES

IRS PAYMENT PLAN

BANKRUPTCY

GET YOUR IRS FILE

OFFER IN COMPROMISE

INNOCENT SPOUSE RELIEF

HOW TO ABATE PENALTIES

NON-FILED TAX RETURNS

PAYROLL TAX PROBLEMS

IRS WAGE GARNISHMENT

Thinking of owning your own business?

Opening your own business is exciting and thrilling. It's everything that comes after the excitement and thrill has worn off that dictates whether a small business will make it or not. It's up to you to maintain and stretch out the "thrill and excitement" period forever.

When a small business owner decides they want to incorporate, they often struggle to decide what type of incorporation to choose. While it can all be pretty overwhelming in the beginning, we hope to lay out the advantages and disadvantages of starting an LLC or a corporation, whether or not to classify it as an S Corp or C Corp, and give you a better idea of which one would be best for your business.

Business goals aren't one size fits all and neither is incorporating. When deciding which kind of corporation fits your business strategy, consider some of the different benefits that each kind offers. And take a deeper dive with the comparison.

"Incorporating a business is defined as the legal separation of a business entity from its owner. This new business 'person' is completely independent, meaning that even if something happens or changes take place with owners or administrators, the business will keep running and functioning as normal and without having to also change."

To determine which business entity will serve your new business best you need to start process of choosing between a sole proprietorship, a general partnership, a limited partnership, a limited liability partnership, a c corporation, an s corporation, and a limited liability company (LLC) involves much more than one would at first think.