Texas Tax Consulting Services
The Texas accounting firm of C. Jay Helm & Associates, are experts in a wide range of tax consulting services. Our areas of focus are as follows:
We provide a wide range of other tax consulting services to individuals and businesses in a variety of industries. We strive to meet each client’s specific needs in planning for the future and achieving their goals in an ever-changing financial and regulatory environment. Our professional tax services include:
As former Internal Revenue Appeals officers we make every attempt to maximize your deductions and to make sure you pay the least amount tax required.
We provide a service whereby you are reminded to make any necessary estimated tax payments on a timely basis.
We can work with you throughout the year to monitor the ever changing tax and financial factors that might affect you as an individual or your business.
We also monitor any changes in the tax law and try to communicate these changes all clients affected by the change.
We can monitor your business to insure you meet all necessary filing requirements on a timely basis. We will also determine the correct amount that may need to be remitted with the forms.
Request information about Income Tax Preparation
Individual Tax Management Services
We guide our clients through a full range of tax planning and preparation decisions with strategies that minimize your tax liabilities. Our expertise, experience, analysis and thorough research allow us to optimize financial opportunities to be found in existing as well as recently altered tax laws.
As an individual taxpayer I can help you with such things as:- Practical tips on how to properly manage taxes
- Adjustments to income
- Maximizing your deductions
- Educator's itemized deductions
- Educational tax credits
- Sideline businesses and tax issues
- Rent, Royalty and Partnerships
- Moving expense issues
- Selling (buying) a home
- Effective record keeping
- Withholding of taxes and estimated tax payments
- Gifts and avoiding gift taxes
- Business use of the home and auto
- Standard versus actual expenses
- Depreciation versus direct expensing under IRC 179
- Preparing Forms 990, 1040, 1041, 1065, 1120 an 1120(S) and Schedules for proper reporting of income and expenses
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From start-ups to established enterprises,
businesses rely on accurate and insightful financial information in order to maintain profitability
and capitalize on new opportunities. C. Jay Helm & Associates's accounting services steer you closer to these goals with accurate record-keeping and reporting as well as support on financial issues such as initial
accounting system setup, cost-containment, tax planning, investments, and employee benefit and
profit-sharing plans.
These services include but are not limited to:
- Bookkeeping (Monthly, quarterly, or annual)
- Accounting system setup and support
- Cash flow budgeting and forecasting
- Employee benefit and profit-sharing plans
- Corporate tax planning and return preparation
- Litigation support
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Assurance and Advisory Services
At C. Jay Helm & Associates, we focus on building close client relationships
that add long-term value. This includes assuring the solidity of financial records, evaluating
financial procedures and working to produce strategies that help our clients face the myriad challenges
of business planning and execution. Our clients benefit from objective analysis to assist in controlling
costs, increasing efficiency, and implementing new technologies and procedures that take advantage of
changes in the marketplace, accounting standards, and tax law.
These services include but are
not limited to:
- Entity selection and restructuring
- Accounting software selection, implementation, and support
- Business valuations
- Financial projections and forecasts
- Debt and finances advising
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Whether your needs are corporate or personal, C. Jay Helm & Associates's professionals can assist you in sorting out the different options available for debt management and financing that will result in optimal tax implications.
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Cash Flow and Budgeting Analysis
Good cash management can improve a company's liquidity, reduce costs, and increase profitability. C. Jay Helm & Associates can help you maintain optimal cash flow levels by tracking sources and uses, forecasting, and budgeting accordingly.
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As former IRS employees, we are aware of the inner workings of the IRS. This knowledge can be invaluable to you if the IRS is questioning you tax liability or some of your deductions. This is a situation where loose lips literally can sink you. Again, do not talk to the Agent. Seek representation immediately
We can effectively represent you before the IRS. Our knowledge of tax law, IRS procedures and hazards of litigation in certain areas could assist you in receiving a favorable determination by the IRS.
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Entity Selection and Restructuring
Your business entity has a large impact on your taxes and other liabilities. From your company's inception through its growth and development, C. Jay Helm & Associates can advise you on choosing an entity type and later restructuring if advantageous.
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Financial Projections and Forecasts
No one can predict the future perfectly, but we can all benefit from planning for it. C. Jay Helm & Associates combines expertise and experience with a gained understanding of your business to produce financial projections that can help you manage your business plan and spending. Depending on your needs, our work can range from top-level reports to detailed financial models.
Request information about Financial Projections and Forecasts
The following areas are where you the client must exercise extreme caution. The TV tells us that the organization can resolve your tax problems for pennies on the dollar. The statement is partially true.
The organization could resolve your tax problem if you have no assets, little or no monthly income, no savings and no other income sources. These persons are basically destitute at the time of filing of the Offer.
The clients sign a binding contract for the fees, usually about $ 3,000.00 to $ 3,500.00. The organization then prepares a financial statement, an Offer in Compromise and writes a few letters to the IRS. They provide you with a copy of the letters and the Offer. In about 6 – 9 months you are notified that the Offer wasn’t accepted by the IRS and there is nothing more they can do. By the way, you are still liable for all fees.
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The firm not set a base fee for our services in this area. We do not file Offer that can’t meet the minimum requirements.
We get a certain amount upfront, depending upon the complexity of the matter, and then we work by the hour on trying to resolving your collection issue(s). We bill you on s monthly basis for our services. Once the matter is resolved, we take the last month’s services from the deposit and return the balance.
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Again the financial statement is one of the keys to making an acceptable Offer in Compromise. The other big factor is the ongoing monthly income of the household or business.
Only approximately 16 percent of all Offers are accepted by the IRS. Of those accepted Offers only about 27 percent of the accepted Offers are in effect for the entire period.
That means of every hundred Offers filed 96 percent of the Offers fail for to meet the requirements for an Offer or the taxpayer failed to consistently meet the minimum requirements throughout the life of the Offer.
Our success rate for acceptance rate is higher than the average because we do not file an Offer if it clearly doesn’t meet the requirements for an Offer.
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This is one of the most difficult areas for a person to have to contend with. Our suggestion is that you never represent yourself in any collection matter, especially in the area of liens and levy.
You can innocently make a statement to the Revenue Officer that can make the situation impossible to rectify. Do not talk to the Revenue Office. You need to immediately authorize our firm, or other competent council, to represent you in the matter.
We will assist you in the preparation of the required financial statement and supporting documentation. This is probably the most critical area in the lien and levy area. Do not answer any questions about your financial situation. Refer the Revenue Officer or caller to you representative.
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This is another difficult area. The requirement of a financial statement and the proper preparation of the statement is the key in getting an installment agreement in place. This the area where most taxpayers make mistakes.
The financial statement determines what the IRS requires you to pay monthly to extinguish your delinquent tax liability.
The financial statement must be prepared in a manner that actually reflects a true reflection of your financial position. We can assist you by insuring your financial statement meets all the requirements for preparation and documentation.
