Rockwell Tax Service : Our Services

Tax Preparation Services

Individuals

A core specialty is the preparation of tax returns for individual taxpayers. Over the years literally 1000's of Federal and State returns have been prepared and filed.

Business Tax Returns

Small business tax return preparation and filing instructions is a core service offered to our clients. Whether your company is a C corporation, S Corp, Limited Liability Company, Partnership or Sole Proprietor a properly prepared tax return can be filed to minimize the tax owed. Over the years, 100's of small business Federal and State tax returns have been prepared for service, construction, manufacturing, real estate, farms/ ranches and equine-related business clients.

Tax Planning

Tax planning and tax forecasting services for individual and small business clients is a core competency of the firm. Effective tax minimization begins with long-term tax strategizing to establish overall objectives and is maintained with conscientious and consistent annual tax forecasting and mid-year tax planning. Additionally, we provide our clients with Estimated Tax Payment coupons, and a record page to keep track of Federal and State estimated tax payments.

Real Estate Taxation

Investing in Real Estate can offer many tax advantages. Whether your strategy is Buy and Hold, Flipping, Wholesaling, or Notes, Rockwell Tax Service can help you save money as you build wealth.

Real Estate Investor tax issues that we can help with include:

Deductions (Schedule E)
Long-Term and Short-Term Capital Gains
Depreciation/ Recapture
Like-Kind Exchanges (Internal Revenue Code Section 1031)
Installment Sales
Rehabilitation Tax Credit (Form 3468)

Equine Tax Planning

At Rockwell Tax Service, we enjoy taking a look at tax planning and preparation for horse breeders and trainers. Breeding and training horses is a passion, and everyday is hard work. We work hard to make life easier for you when you have questions relating to how the IRS looks at your operation.

Rockwell Tax Service's Top 5 Tax Tips for Equine Business Owners

Draw up a business plan that clearly outlines exactly how your equine related business plans on generating a profit. (IRC Section 183)
Use separate bank accounts for your business. It is never a good idea to commingle your personal funds with your equine business funds.
Maintain excellent business records, always be sure to include records showing the time you spend working your horse business. Remember that the IRS is not concerned with whether you have a small operation or an equine empire, just maintain good business records.
Employ the services of a good bookkeeper to keep your financial house in order.
Look for a good IRS licensed Enrolled Agent (EA), State licensed CPA, or CTEC Registered Preparer knowledgeable about Equine Taxation. Don't try to take on your taxes by yourself if you are uncertain.

Accounting Services

Payroll Services

After-the-fact payroll services for small business clients have been provided for many years. Services include: Set up and maintenance of all records, time card tabulations, withholdings of tax and other deductions, Federal and State tax filings and preparation of all W-2's and 1099 forms. Quarterly, we provide clients with payroll statements.

Additionally, we can assist clients with the filing of their Sales Tax return with the California Board of Equalization.

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