Individual Tax Preparation

Freyman CPA brings a high level of expertise to your individual tax return preparation in Jacksonville, FL and the surrounding areas. We understand the complexities of our clients’ situations and are experienced in handling all levels of tax filings, from basic returns to multi-state, foreign, or self-employed filings. We streamline the tax preparation process to reduce the amount of time that you need to think about taxes, and we implement effective tax saving strategies to reduce your tax obligations. In addition, we will optimize tax payments by providing guidance relating to withholding and tax estimates; this will establish that no penalties are incurred and will reduce the likelihood of overpayment.

Freyman CPA can prepare and file all of your required tax forms. We prepare federal, state, and local tax returns, including the following forms and reports:

  • Individual Income Tax Return (Form 1040)
  • Estimated income taxes (Form 1040-ES)
  • Amended Individual Income Tax Return (Form 1040X)
  • US Gift and Generation-Skipping Transfer Tax Return (Form 709)

If you are married, we will always perform an analysis to determine whether it is beneficial to file jointly or separately.

Multi-State Filing

Many of our clients file tax returns in multiple states due to differing states of residence and work. We can assist with your multi-state exposure by:

  • Determining your filing requirements
  • Projecting your income taxes in each state
  • Preparing tax estimates
  • Modeling payroll to determine the optimal withholding for each state
  • Preparing tax return

High Net Worth Individuals

We are experienced with the preparation of tax returns for high net worth individuals who may have significant partnership holdings, capital transactions, and foreign investments. We can provide tailored tax strategies to reduce your tax liability.

Self-Employed Individuals

When you run your own business, there are a number of additional tasks that must be done in order to prepare your taxes. We can assist with all tax-related matters, including:

  • Preparing your books, including cleaning up the general ledger
  • Reconciling your bank accounts
  • Preparing financial statements, including a profit and loss statement and a balance sheet
  • Preparing a full schedule C
  • Preparing your income tax return
  • Providing general consultation related to your business’ tax and financial matters

International Exposure

We specialize in preparing tax returns for both foreign individuals living in the US and US citizens living or working abroad. We can provide guidance on international tax issues and obligations in addition to preparing your tax returns. Some of our international-related preparations include:

  • US tax returns for foreign individuals
  • US tax returns for US citizens with international business entities
  • US tax returns for US citizens working abroad
  • Calculation of matrimonial tax implications
  • Analysis of living and working abroad

Specialized Forms

We are well versed in many specialized circumstances that impact our clients’ taxes. We prepare and file specialized forms, reports, and elections including:

  • Statement of Specified Foreign Financial Assets (Form 8938)
  • US Individuals Working Abroad (Form 2555)
  • Foreign tax credits (Form 1116)
  • Section 83(b) elections
  • Household employee reporting (Schedule H)

Individual Tax Preparation Service Plans

What sets us apart in our tax return preparation is our customer service and level of expertise. We understand the complexity of our clients’ situations and we are ready to step in if an IRS or state audit arises involving any income tax return we have prepared.

Basic Filing - Single Filing With W-2 Form

  • E-file
  • Tax review of prior 3 tax years
  • Current year tax preparation
  • Two states maximum
  • Tax estimates & calculations
  • Guidance of current year tax payments and withholding guidance.

Joint Filing - Joint Filing With W-2s

  • E-file
  • Five W2's maximum
  • Three states maximum

High Net - Large Investment Holdings
We prepare tax returns for clients with significant:

  • Partnership holdings
  • Capital transactions
  • Foreign investments

Self Employed - Schedule C Filing

  • Prepare a full Schedule C
  • Bookkeeping preparation
  • Reconcile your bank account
  • Personal income tax return
  • Profit and loss statement
  • Balance sheet
  • Clean up general ledger
  • Provide consultations

Foreign Tax - International Tax Exposure

  • US tax returns for foreign individuals
  • Living and working abroad tax obligations
  • Filing of US tax returns for US citizens with international business entities or employees
  • International matrimonial tax implications

Other Situations - Multi-State & Other

  • Income tax projections
  • Multi-state tax planning
  • Estimated tax calculations
  • Salaried persons payroll with holding adjustments
  • Custom tax returns

Please contact us today for more information on our individual tax preparation services in Jacksonville, FL and the surrounding areas.