Bridgewater Certified Public Accountants, Inc.
Marin CPA Building Relationships One Client at a Time
|Address:||1299 4th Street, Suite 500
San Rafael, CA 94901
Bridgewater is a full service CPA firm offering solutions that will build value in your business while easing your financial worry. We support small and mid-market businesses, their owners, as well as individual tax clients. With our firm, you'll find a unique blend of personal one-on-one service, sound financial advice and technological expertise. As your trusted advisor, we take care of the financial details so you can focus on running your business.
Call for a free initial consultation. 415-528-5400
INCOME TAX PREPARATION IN MARIN COUNTY
Smart tax planning equates to paying less tax, and we know this is one of your top priorities. Whether you’re an individual, corporation, partnership, estate or trust, we can accommodate your needs. Our seasoned Tax Professionals will work with you all year to develop a tax-saving strategy that is customized to your unique financial position.
We are diligent about remaining up to date on current and pending legislation that affects the business community, and are committed to discovering all of the tax-saving opportunities available to you. We will minimize your tax burden and maximize your opportunities—while remaining in full compliance with IRS statutes.
Our goal is to make the tax process as convenient and pain-free as possible. That’s why we offer our clients 24/7 access to all of their tax information via a secure online account on our website. Simply login to review tax and financial documents electronically and track the progress of e-filed returns.
Accounting Full Service in Marin
With a Proven track record Bridgewater offers timely and accurate financial reporting and advice, accounting software training and support, critical analysis of your operational systems, and more. We will reconcile bank statements and credit card reports, as well as issue financial statements—all services performed in real-time. We will also take the time to review all of your data with you throughout the year to offer insight and make sure you understand the factors driving your profitability. Whether you require monthly or annual accounting support, we will work with you to ensure your financial needs are being addressed and your goals are achieved.
Financial Statement Reviews and Compilations
Detailed Reporting for a Clear Financial Picture
We want to ensure that your business is running at peak operating efficiency. To help you continually evaluate your performance, we offer thorough, accurate reporting so you always know where you stand financially. Rely on our financial statement review and compilation services for comprehensive and detailed financial statements on a monthly, quarterly, or annual basis. These regular reports show a clear financial picture of your business, helping secure loans, support business decisions, monitor results, and show the progress of your business over time.
But we don’t just deliver the documents. We work closely with you to make sure you understand your data—so that you can continue to make smart business decisions and stay on a healthy financial course. We’re here for you throughout the year to offer guidance, answer questions, and assist with all of your important financial decisions.
Full-Service Payroll in Marin County
Hand Over Your Payroll Headaches
Let us handle your payroll needs so you can get back to what you enjoy best—running your business. Processing payroll involves much more than simply distributing regular paychecks. There are taxes, deductions, changes in payroll laws, year-end documentation, and more to worry about. Those headaches stop here.
By entrusting your payroll responsibilities to us, you turn this complicated administrative chore into a trouble-free function in your business that is both cost- and time-effective. If we're handling your payroll there’s no need for you to staff an employee dedicated to this task, and no need to maintain your own payroll system. As your experienced payroll partner, we will handle all of your needs, including check processing and printing, direct deposit, W-2 processing, filing up-to-date quarterly and annual payroll taxes, and reporting. Better yet, all of our services are offered electronically, saving you time, money and reducing costly mistakes. Your employees will enjoy secure online access to their pay check stub information and W-2s—eliminating hours of distribution time.
Back taxes are taxes that were not paid to the Internal Revenue Service in the time frame in which they were due. Most often, they were due to the IRS in a previous year. You can owe back taxes on a federal, state or even at a local level.
What happens if you owe back taxes?
Ignoring the problem is generally NOT a strategy that works, so we have outlined the process below for you and provided some potential solutions that could help.
1. Within 30 days of a missed payment, you will get a notice from the IRS requesting payment.
2. The IRS will follow-up with you on the order of once each month by mail until about six months have passed. Then the IRS will start calling you directly.
3. Penalties: Generally speaking, you are looking at some serious penalties if you have back taxes. The total late filing penalty is usually around 5% of the taxes you owe for each month (up to 5 months). If you paid part but not all of what is due to the IRS, you will receive a penalty for being late as well as interest on the current tax bill.
4. Liens: If you fail to pay your tax bill for years, you could face a tax lien — which is a legal claim to your property, even property obtained after the tax lien is put in place. Liens are very serious issues for taxpayers, as they significantly impact your credit score. Liens require significant time, effort and money to resolve.
What can you do to resolve these back taxes?
While the penalties for back taxes sound overwhelming and scary, it is important to understand that there are many options for those who owe the IRS back taxes. Hiring a tax firm to help you sort out your options is often a very wise move. We have been communicating directly with the IRS on behalf of our clients for more than 15 years. We have experience negotiating solutions for our clients who are faced with back taxes. The IRS will often allow taxpayers to pay their back taxes in installments, which is very similar to credit card payments.
We can also explore additional options including requesting additional time to pay as well as offers in compromise, which allows a taxpayer to settle their debt with the IRS for less than the amount owed, should he/she be able to show that they are legitimately unable to pay the full amount. Bridgewater has experience with all types of negotiations with the IRS and has successfully managed this difficult problem for thousands of customers over the years. If you owe the IRS back taxes, call us at 415-528-5400 and we can get to work for you. All you have to do is take the first step and contact our tax relief team. You do not have to do this alone – let us help solve this problem for you!
A tax audit is a process the IRS uses to determine whether you (the taxpayer) have paid the correct amount of income taxes. Audits are generally conducted by the IRS on approximately 1% of all individuals or businesses each year. While this is a relatively small percentage, it does impact millions of people each year and it is important to know what to do if you receive an audit notice from the IRS. Some helpful tips are included below:
- Audits are very often completed entirely by mail. In the majority of cases, you will never meet face to face with a representative from the IRS.
- Most audit requests focus on one particular aspect of a tax return and request specific information on that specific item – not on your entire tax return. For example, the IRS may request supporting documentation about your itemized deductions or donations.
- It is generally recommended that you keep all supporting tax documentation from your annual taxes for three full years. If you have the supporting documentation requested by the IRS, then responding to the audit should be no problem. If not, well, keep in mind that there is usually another way to obtain this information. You can very often request this duplicate documentation from the original source… for example, you can often get duplicate documentation from your medical office(s), from a charity, from your employer, or the bank or company managing your retirement benefits.
- Stay calm and do not ignore the request from the IRS. The best strategy for responding to an audit request is to respond quickly, respectfully, and completely. Ignoring the request will just elicit additional notifications. The IRS does not typically ever “forget” to follow-up. Ignoring the request can even call additional attention to the tax return in question.
- Submit the information requested by the IRS, nothing more, nothing less. Certainly never hide anything from the IRS, but do not think it will be helpful to send the IRS lots of other extraneous information either. A cover letter can be helpful – especially if you need to explain a potential error.
- Be prepared to pay, should it be determined that you owe the IRS money. You will only have 30-90 days to pay, so be ready to pay fairly quickly after the IRS makes its ruling.
- Be ready to get help in case you need it.
While most audit requests are routine and fairly easy to respond to, there are instances that can be complicated and you may need some additional help. Bridgewater has extensive experience managing all kinds of IRS audits – from simple to difficult, personal or business and we often resolve these very quickly and easily. Call 415-528-5400 for a free, no obligation consultation.
There are several instances in which you will want to consider hiring help to manage your audit. Below are a few of the more common reasons or complications:
- If you receive repeated requests from the IRS
- If you do not think that you have appropriate or adequate documentation to submit
- If the IRS requests an in-person audit. If this happens to you, the IRS wants to verify your employment or income status. These can be some of the most complicated audit requests.
- If you disagree with an audit ruling
In these complex cases, an outside firm can serve as an intermediary between you and the IRS and may have a much better sense of exactly what the IRS is looking for in order to resolve the issue. Success Tax Relief specializes in audits and can quickly assess your risk and help you determine the best strategy for responding to the audit request.
A tax audit can be stressful and time consuming and often does not work out in your favor. Responding to any kind of audit request requires a lot of time, a high level of detail, follow-through and, most of all, patience. Even with routine requests, it might be easier to reach out for help so that you can put the request behind you and restore your peace of mind.
Bridgewater has over 15 years of experience resolving all kinds of difficult tax problems, including audits. We fight for each and every one of our clients, and we know what to expect from the IRS and, more importantly, what they are looking for. This gives you an advantage and a better chance for resolving your problem and putting it behind you once and for all. Our team of experienced tax professionals is ready for your call and ready to get to work for you. We are trained in all aspects of tax preparation and have direct experience working with representatives from the IRS.
If you have received correspondence about an audit or any other tax problem from the IRS, give Bridgewater a call at 415-528-5400 today. The sooner you call, the sooner your issues will be resolved and the sooner you can move on and get back to the more important things in your life. Save yourself the time and stress and call on us. You will not regret it. Our rates are both low and very competitive and worth every penny for your peace of mind. We will work with you every step of the way and will not stop until you are satisfied that your issue is fully resolved. Our strength is in our communication with the IRS – this is what we do every single day so that you do not have to.
Financial Analysis Reports - Monthly / Quarterly / Annually for your Business - Visit our website for examples http://www.bridgewatercpas.com/financial_analysis.php
Analysis & Benchmarking allows you to make key decisions based on monthly data while seeing how you compare to others in your industry.
Envision receiving Reports that you can actually understand—reports with a simple rating system on key areas and commentary that is concise and easy to read, that won’t overwhelm you with too much details and will be tailored to your unique business.
When combined with our experience and personal approach, the possibilities are endless!
"Your professionalism, responsiveness and accuracy during our growth have been invaluable. As we enter our tenth year in business, we recognize the significant role that you firm has played in getting us to this milestone."
Multiple Location Retail Store Owner