Tax Services
- Individual Tax Returns
- Business Tax Returns
- Not-for-profit Tax Returns
- Tax Compliance
- Personal Property & Sales Tax Returns
Certified Public Accountants and Business Consultants
USA: 8955 Edmonston Road, Ste #E, Greenbelt, MD 20770
Ghana: Aplaku Hills, Accra, Ghana
Tel/Fax: 1-888-829-0084, Email: Support@pacgroupinc.com
At PAC Group, tax preparation and planning are key to being successful and paying the lowest tax legally allowed. We offer the highest level of service to all of our individual and business clients. Our experienced staff can develop tax strategies that take advantage of new tax laws and legislation.
Our commitment to you is continued planning and advice throughout the year, not just during tax season. In order to ensure your continued success individually as well as with business-related decisions, we must be available when you need us most. Feel free to call us anytime for any and all business and tax related questions.
We take a proactive approach to tax services. Through continuing education during the year, our staff is current on new tax laws and legislation, and we are in a position to identify key tax planning opportunities that minimize both your current and future tax liabilities. We provide our individual and business clients with the taxation expertise and knowledge that they deserve throughout the year, not just during tax season.
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Individual Tax Returns
Preparing your own income tax return can be a task that leaves you with more questions than answers. According to a study released by the US Government’s General Accounting Office, 77% of taxpayers believe they benefited from using a professional tax preparer. Whether we like it or not, today’s tax laws are so complicated that filing a relatively simple return can be confusing. It is just too easy to overlook deductions and credits to which you are entitled. Even if you use a computer software program there’s no substitute for the assistance of an experienced tax professional.
What we offer You
- Federal tax return preparation for Resident – 1040EZ, 1040A, 1040; Non-resident – 1040NR, 1040NR-EZ; and Amendment returns – 1040X
- State and local tax return preparation for all states
- Income Tax Returns for Gifts, Estates & Trusts: We prepare federal form 706 and 1041 series and related schedules and all state returns.
Business Tax Returns
If you have a corporation, you will have to file an annual tax return. Our small business tax return preparation service is a complete package to provide business owners piece of mind for your business tax filing. Your State of Incorporation will also request that you renew your incorporation via a form which updates the address of the corporation, its officers and directors, and its registered agent for service of process.
We file the following annual tax returns
- Sole proprietorship: This will be a Schedule C to IRS Form 1040
- Partnership Tax Returns for LLCs, LLPs: We prepare federal form 1065 series and related schedules and all state returns.
- Corporation Income Tax Returns for C and S Corps including HOAs: We prepare federal form 1120 series and related schedules and all state returns.
Not-for-profit Tax Returns
Non-profit organizations are generally tax-exempt and don’t need to file revenue forms, but the Internal Revenue Service still requires lots of information — all to be painfully extracted and meticulously organized on IRS Form 990.
Not every tax form requires a payment of tax. Sometimes information is what the IRS is after. For example, Forms 990, 990-EZ, and 990-PF (the three forms of Form 990) are considered information returns or reporting forms. The public uses the information on these returns to evaluate nonprofits and how they operate. On these forms, you can see what a nonprofit’s income and expenses are, how much it pays its key people, and other useful information that can help you assess what a nonprofit does. Form 990 is a fairly critical form for the public disclosure of information because the law doesn’t require typical annual reports from nonprofit organizations. Even financial audits by independent accountants aren’t required by law (except in special circumstances).
The organizations that must file the Form 990s don’t have to pay federal income tax on income that’s related to their exempt purposes and programs. However, many private foundations do have to pay an excise tax that’s based on their investment income. We prepare federal form 990 series and related schedules and all state returns.
Tax Compliance
The ongoing legislative and regulatory changes, along with an increased tax authority focus on high-wealth individuals, create a demanding environment for private companies and owners to proactively manage their tax liabilities and risks. PAC Group can help explore tax-savings opportunities, prepare for changes in the tax and economic climate, and help resolve disputes with tax authorities
Personal Property & Sales Tax Returns
Personal Property Tax Return
Most states requires that all businesses must file personal property returns or annual returns annually. We prepare personal property returns for various states
Sales Tax Return
Most states also require Sales Tax forms to be filed quarterly. For those new to sales tax, I know what you’re thinking. You think you don’t have to worry about sales tax when you sell online. You’ve bought products on eBay or Amazon, and the sellers didn’t charge you sales tax, so obviously sales tax must not apply.
Despite what some people believe, any business that sells taxable products needs to collect sales tax in the jurisdictions where they have nexus. What is nexus? It is where your business has a significant presence (offices, employees, sales reps, and property (including inventory)). It doesn’t matter whether the business is online or brick and mortar. And it doesn’t matter if other people are following the rules or not.
A big challenge for an ecommerce business owner is managing sales tax compliance. Understanding collection requirements, configuring your shopping cart or marketplace, managing the sales tax collected, and filing the returns is a complex and time-consuming process.
To make matters worse, for Amazon FBA (Fulfilled by Amazon) Sellers, Amazon’s FBA service creates sales tax nexus for your business in the 15 states where Amazon has warehouses. If you are an Amazon FBA Seller and you’re making sales to customers in any of those locations, you should be collecting and remitting sales tax as well as filing sales tax returns in each of those jurisdictions. That can be a pretty big compliance headache for a small ecommerce seller.
And what do you do if you haven’t been collecting properly? You know that you not only have to file but you might also have to pay back sales tax in multiple states and it’s too late to collect from your customers. You worry that this money will be coming out of your cash flow. We can help you understand your liability and put together a process to get compliant while minimizing penalties and interest