In Our Business, Everyone Counts

We believe that building strong relationships with our clients will help us understand their current situation and future goals.  By doing this, our services can evolve with the client and we can help position them for financial success. We work with our clients to ensure that that all tax reporting requirements and deadlines are met on time and follow current tax standards.

Our team has a comprehensive understanding of applicable rules and legislation for individuals and we help our clients understand their specific filing requirements and the transactions that impact tax liabilities. Our goal is to provide relevant and actionable tax advice to individuals by developing tax strategies to mitigate tax exposure, composing financial plans, and effectively transferring estates.

Tax Preparation

With tax laws changing each year,  it is easy to overlook deductions and credits. There's no substitute for the assistance of an experienced tax professional.

The team at Karen Collom,CPA will: 

  • Review last filed return to identify any errors or missed opportunities. 

  • File your tax return electronically so you will get your refund back sooner.

  • Highlight potential deductions to limit your tax liability for next year.

Tax Minimization Strategies

Our goal is to reduce our client's tax liability. By providing individualized attention to every client we serve, we are better able to analyze their unique tax situations.

We guide our clients through life changing situations such as:

  • Marriage, Domestic and Same Sex Partnerships.

  • Divorce

  • Birth or Adoption

  • Death of a Spouse

  • College Tuition (529) issues

 

Working with clients to understand these key items helps us project any year-end tax liabilities and alleviate tax consequences. With proper tax planning, we help our clients lower the amount of their taxable income and thereby reduce their tax rate. ​

Tax Compliance

With constantly changing tax laws and regulations, Our team stays up-to-date with these changes to accurately complete your individual tax returns.

In addition to Federal, State and local tax return preparation, our team offers additional individual tax compliance services:

  • Tax Treatment Analysis to Minimize Tax Liability

  • IRS Audit Assistance and Representation

    • We support individuals regardless of whether or not we did the original filing​

  • Financial and Tax Document Review

    • Our clients bring us documents to review before signing, to ensure everything is correct. 

Never Ignore a notice from the IRS.
If you do not know what to do - call us.
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Senior Services - Estate Settlement 

Life can change in an instant. Perhaps an aging family member needs assistance with monthly finances and budgeting or a loved one dies and leaves a family with financial questions.

The team at Karen Collom, CPA, provides a variety of services to seniors and their families in these situations.

We assist families with the following:

  • Managing and reviewing household bills, monthly budget, and record keeping.

  • Preparing and filing income, trust, gift and estate tax forms

  • Coordinating beneficiary changes

  • Assisting with retirement account distribution and Required Minimum Distributions.

  • Assisting with life insurance claims, the sale of a home, combining multiple accounts of the deceased, and final tax return filing. 

International Tax Services 

Our tax professionals work with US citizens living abroad and have in-depth knowledge to assist our clients with fulfilling tax compliance obligations. We begin with a consultation to help our clients gain a better understanding of how they will be taxed while living abroad, answer any questions they may have and review their overall financial plans.

Our Tax Services include:

  • Non-Resident Alien Taxation 

  • Ex-Pat Tax Preparation and Guidance

  • U.S. Reporting with Respect to Ownership or Investment in Foreign Companies

  • U.S. Reporting on Foreign Bank & Investment Accounts

  • Tax Withholding Requirements - U.S. and Abroad

  • Tax Equalization

QUICKBOOKS SERVICES & SUPPORT*

Karen Collom CPA is a Quickbooks* Online Certified firm. We highly recommend Quickbooks* software and provide our clients with the opportunity to obtain a subscription. We also provide our clients with a Quickbooks* initial set up and training session.  

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* Quickbooks is a registered trademark and/or service mark of Intuit Inc.

©2020 Karen Collom CPA.

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