Ayoub, Sidhum CPA Firm

Audit and Assurance Services

Best Rated Riverside CPA Firm Providing Tax & Accounting Services to Both Businesses and Individuals! Ayoub, Sidhum CPA Firm is proud to be one of the most respected and established accounting companies in Riverside, CA Our accountants offer over 35 years of combined professional experience resulting in tax returns that make our clients smile and come back to us year over year! Whether you need business or individual tax return preparation, audit representation, entity formation, QuickBooks management, bookkeeping, or consultation, our team of 5-star accountants is ready to help you We are so confident in our ability to improve your business’ bottom line that we offer a FREE CONSULTATION That itself is a perfect reason to call us today to see how much you can save…we are just one phone call away! We gladly serve the Inland Empire, Orange County and Los Angeles

Riverside CPA Firm – Top Rated Accountants & Tax Services

Why Choose our Accounting Firm?

• Over 40 years of experience
• Up to date knowledge with new tax laws
• Integrity and quality of our work
• Utilization the latest accounting tools and technology
• Top rated accounting services at reasonable cost Fill out the Form below for TAX Consultation
• What are the tax changes for this year? For highlights of the tax changes for the current tax year, refer to the “What’s New” section of the following: Instructions for Form 1040 ( pdf), Instructions for Form 1040A ( pdf), or Instructions for the Form 1040EZ ( pdf)

For More Information refer to www IRS gov

• Should I choose tax preparer or accounting software? Are you ever wondering if you would be better off paying an accounting professional (CPA, attorney, enrolled agent or tax preparer) or using tax/accounting software to prepare your tax return? Is one better than the other? Unfortunately, there is no single answer for every taxpayer, and you will have to select the tax preparation method based on your individual situation Here are some of the factors to consider in making your decision

Factor #1: Complexity of Tax Situation As a general rule, the more complex your tax situation, the more beneficial and compelling it is for you to hire a tax professional to prepare your tax return Some of the following situations may present complexity that may require CPA assistance:

• You own a business (or businesses)
• As you probably know by now, there are many complex rules and various tax elections that you may want to discuss with a tax pro
• For example, if your business purchased equipment, you have several ways to write off the cost; the best way to do this depends on your current tax situation as well as your prospects for the future
• You can, of course, handle complex situations with appropriate tax software (e
• g
• , TurboTax Home and Business enables you to prepare a Schedule C for your sole proprietorship), but you won’t get personal advice
• You had a major life event
• For example, if you sold a business, went through a divorce, sold a home or had any other major life change, a tax preparer can alert you to the rules that you now have to consider in your tax preparation
• Extensive securities transactions
• Software can automatically input the results from Form 1099-B, which reports securities transactions
• However, you may need to work with a tax pro to make sure you have all the information required for your return (e
• g
• , your tax basis); it may not all be on the 1099
• You want to itemize
• Again, software enables you to put all your information into the mix
• However, a tax preparer can provide advice about legitimate deductible expenses, the substantiation you need and other matters to help you optimize your deductions while avoiding problems with the IRS

Factor #2: Your Tax Proficiency For some people, the very idea of numbers, taxes and the process of preparing and filing a return seems daunting For others, taxes have become a routine chore that needs to be done each year

If you’ve been doing your taxes year after year and not much has changed in your financial or personal situation, you’ll likely be more than able to handle your annual tax return Just familiarize yourself with the new entries on the return related to the Affordable Care Act (may be found in the instructions on the return)

If you’ve never done a return before, decide whether you’re up to the task Recognize that you don’t have to be a math wizard because software or online preparation sites do calculations for you And you don’t have to be a tax expert because you’ll be prompted to supply needed information to complete your return

Factor #3: Your Schedule Time is always an important factor in deciding whether to do your return yourself or hire a preparer Either way, you’ll spend the same amount of time gathering the documentation needed to prepare the return: information returns you’ve received (Forms W-2, 1098, and Schedule K-1s), your canceled checks for itemized deductions, logs and other substantiation for certain expenses