Tax Services

Preparing your own income tax return can be a daunting task that leaves you with more questions than answers.

Today's tax laws are so complicated and frequently changing that filing a return can be confusing. It is easy to overlook deductions and credits to which you are entitled--even with the use of computer software. There is no substitute for the assistance of an experienced tax professional. Let the team at WCA be your personal tax professionals.

Business Owner?

Are your books adequate to support the preparation of your tax return? If not, we can help. We'll clean up your bookkeeping for the year and prepare any applicable tax returns. Then we'll assist you in making sure your books are properly maintained so you can always have accurate snapshots of your business performance and correct information needed for essential financial and tax planning.

Planning ahead for the 2023 tax season:

New 1099-K requirements

As we plan ahead for what the IRS has in store for the 2023 tax reporting season, we would like to spotlight the new 1099-K requirements.  Beginning January 1, 2023, the IRS will require third party payment networks such as Venmo, PayPal, Amazon, Square, Etsy, and eBay to issue a 1099-K to individuals who receive payments for goods or services that exceed the $600 reporting threshold.  This will cause millions of people who do not have an official business, but are causal sellers online, to receive a 1099-K in early 2024 to report on their 2023 tax return.  In order to plan ahead for these new reporting requirements, it is important to always keep records for the items you sell including the initial purchase price and seller fees, so the basis of these items can be used to reduce the taxable gain.  As always, proper planning and keeping accurate records, can help reduce your tax season headaches!