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Tax Preparation

“Each client has individual needs… every client deserves our full attention!” – Alan Gordon

Personal Tax Preparation

The process of creating a personal tax return for an individual or family begins with the Alan L. Gordon Tax Organizer Package. At the beginning of the year, a packet of information is forwarded to each personal tax client that contains a variety of information regarding the tax process, including:

  • An engagement letter detailing the responsibilities of the firm and the client in creating accurate returns.
  • A “Policies and Procedures” document further outlining the process.

The effect of this organizer package is to refine the task of tax information collection and reporting, so that all pertinent information is received from the client prior to the creation of the return, minimizing additional work and billing to the client.

After all tax information is received from the client, the firm begins creating the necessary federal, state and local returns. All tax work that flows through the firm is handled in the order it is received by the firm, and there are deadlines for receipt of information to ensure timely filing of returns.

After the return is created, a representative of the firm will contact the client to discuss the return and answer any questions. At this point, a package including copies of the return are mailed to the client on paper, CD, or via Sharefile. This package will also include any estimated payment vouchers that may be required. It is the responsibility of the client to sign and forward the returns to the appropriate tax authorities. If the client is required to file estimated tax payments, reminder letters will be sent to the client as necessary.

Business Tax Preparation

Alan L. Gordon, CPA, P.A. has the knowledge and experience to prepare tax returns for all types of business entities: corporation, partnerships, LLC’s, LLP’s, and sole proprietorships. We have been preparing federal, state, personal property, and retirement plan tax returns for businesses in the Rockville, Maryland and Washington, DC metropolitan area for over 25 years.

The process of creating tax returns for businesses should be very straight forward, if the proper tax planning has been done prior to the year end closeout cycle. Once again, please refer to our Tax Planning page for more information on this topic. 

The next step in creating the returns is done by the client. It is the client’s responsibility to provide a working trial balance for the firm as a starting point for the return. Our accountants will use the trial balance to build working papers for the return, and will verify the account balances with the client. Some accounts will require various forms of supporting documentation be provided, and the firm will create a file of these and other papers that will support the figures in the return.

After the working papers have been collected, our accountants will prepare the necessary returns and, if appropriate, schedule a conference to discuss the return with the client. Just as with the personal income tax returns, the firm will prepare a package containing the return in paper or computer CD format, based on the client’s preferences. In addition, the firm will include any estimated tax payment vouchers if they are required, and will send remainder letters regarding the estimated payments as they become due.

When dealing with business tax clients, we can not overemphasize the importance of the time spent in creating the working papers that support the returns. Accurate and timely work papers can greatly reduce the overall preparation cost to the client if done correctly the first time.