1040 Tax Preparation
Let’s face it. Income tax preparation can be a tedious task each year, especially if you own a business or receive multiple tax documents for wages, investments and retirement withdrawals. Our specialists are here to make this process as easy and as simple as possible.
Tax preparation is one of the only professions where the rules change every year.
As a Certified Public Accountant licensed in Pennsylvania, Amanda Taraborelli takes 80 hours of continuing education every two years. CPAs are one of the few types of licensed tax return preparers who are required to have a college degree, pass a rigorous 16 hour exam, obtain work experience and continually educate themselves with nationally approved courses to keep their license. Not all tax preparers are created equal.
Manada Tax Service is a family business that’s committed to providing quality tax preparation while keeping you safe from the pandemic.
Remote tax preparation available with secure online document exchange, e-signatures and payment options.
Contactless drop off available at our 805 Estelle Drive office location which is equipped with state of the art Air Oasis purifiers with HEPA filters and UV light.
Once you retire, you will begin to receive new tax documents related to pensions, retirement account withdrawals, and Social Security payments. Manada Tax will help you sort through the new paperwork to make sure it’s accurately recorded on your tax return.
The Federal government and Pennsylvania treat retirement accounts differently for tax purposes. It’s imperative that you have a knowledgeable accountant to avoid paying unnecessary taxes.
Investing in rental properties is a popular strategy for individuals to save for retirement outside of the stock market. Manada Tax Service has a diverse set of clients who own duplexes, multi-unit properties, as well as property owners with oil and/or timber rights.
There are complicated tax rules that govern rental properties. Manada Tax Service will help you to correctly file depreciation for property improvements annually as well as estimate potential tax implications of buying or selling your rental property.
Depending on your business entity type, your business taxes could be listed on a Schedule C, Schedule E or a Schedule F on your personal 1040 tax return.
Sole proprietors and single-member LLCs are treated the same way for Federal tax purposes. The income and expenses related to the business are reported on a Schedule C. See our pages for sole proprietorships and single-member LLCs for more details.
Partnerships and S-corporations “pass-through” the earnings, deductions, gains and losses from the business via a Form K1, which is based on the percentage of ownership. Manada Tax Service will enter the information from your Form K1 and track your accumulated basis in the business. Your basis determines whether your owner withdrawals from the business are taxable or tax-free.
Lastly, farmers and other agricultural businesses have their own form, Schedule F, for reporting their business financial results.
