Tax Preparation with Strategy Review
Your tax return is the most detailed record of your year. We prepare it accurately, then we read it for what it says about the year ahead. Tax GPS Group is not a CPA firm. Our team coordinates your federal and state filing and gives you a written roadmap showing which planning opportunities appear to apply to you.
Who is this for?
- W-2 earners with stock options, RSUs or other equity pay
- Business owners who want their return prepared with planning in mind
- Real estate and short term rental owners
- Households with investments, K-1s or more than one state
- Anyone whose return gets filed each spring with no conversation about what comes next
What is included?
- Federal and state filing coordination. We gather your documents, prepare your returns, review them with you and file them electronically.
- Prior year return review. We look back at earlier returns for deductions or credits that may have been missed. If something turns up, we talk through whether amending a return makes sense. The IRS says the general deadline to claim a refund is the later of 3 years from the date you filed or 2 years from the date you paid the tax (IRS).
- Quarterly estimate calculations. If you owe tax beyond what is withheld, we calculate your estimated payments so you know what to pay and when.
- Audit support. If a return is questioned, our team helps you understand the notice and respond.
- A written strategy roadmap. A plain language summary of which planning opportunities appear to apply to you, which do not, and what each one would involve.
What do we look for during the strategy review?
Your return shows us more than what you owe. While preparing it, we look at:
- Equity pay. Whether the tax withheld on RSUs or option exercises is likely to cover the tax you will actually owe.
- Business income. Whether your entity structure and retirement plan options fit your profit level.
- Rental income. How the rental and short term rental rules apply to your situation.
- State taxes. How California treats your income differently from the federal return. For example, California taxes capital gains as ordinary income (FTB). See our Bay Area tax strategy page.
- Timing. What needs to happen before year end, rather than after it.
We do not promise any specific result. Every situation is different, and some opportunities will not apply to you.
How does it work?
- Start with preparation. We coordinate your tax return filing with close attention to detail and compliance.
- Identify opportunities. While preparing, we look at your situation for planning strategies that may apply, such as cash balance plans, R&D tax credits, entity structure and short term rental benefits.
- Implement what fits. If a strategy makes sense for you, we provide detailed projections and implementation support. If not, you still get tax preparation with no pressure.
What should I have ready?
- Your prior year return
- W-2s, 1099s and K-1s
- Brokerage and equity compensation statements
- Mortgage interest and property tax statements
- Rental income and expense records
- Business financial statements, if you own a business
- Any IRS or state notices you received
Want planning to continue through the year?
This service is built around your annual return. If you want quarterly meetings, projections before major decisions and entity structure review, see Year-Round Strategic Planning.
Frequently asked questions
What is the difference between tax preparation and tax strategy?
Tax preparation reports what already happened and gets your return filed. Tax strategy looks ahead. This service includes both: we prepare your return and review it for planning opportunities to discuss with you.
Do I need to switch from my current CPA or tax preparer?
Not necessarily. If you want us to prepare your return, we do that and add the strategy review. If you want to keep your current preparer, we can work alongside them, and any plan we suggest is something they can review.
Can you review my prior year returns?
Yes. We look for deductions or credits that may have been missed. The IRS general time limit to claim a refund is the later of 3 years from the date you filed or 2 years from the date you paid the tax (IRS). Whether amending makes sense depends on the details of your return.
How do estimated tax payments work?
Estimated payments are due April 15, June 15, September 15 and January 15 of the following year. If a date falls on a weekend or legal holiday, the next business day counts (IRS). You generally avoid an underpayment penalty if your withholding and payments cover the smaller of 90% of this year's tax or 100% of last year's tax. That last number is 110% if your adjusted gross income last year was above $150,000 (IRS). We calculate your payments based on your situation.
What do I need to send you?
Start with your prior year return and your tax documents for the year, such as W-2s, 1099s and K-1s. If you have rental properties or a business, we will also ask for those records. We tell you exactly what is missing so nothing is left to guesswork.
How do you charge for tax preparation?
Our fees depend on the complexity of your situation and which services are involved. We find it most helpful to start with a free conversation so we can give you an accurate picture rather than a generic quote.
Ready to see what your return could tell you about next year?