Henson & Company CPA’s

Complex returns for partnerships, corporations and trusts

Henson & Company practices as certified public accountants in South Pasadena, California. The firm says it has focused on complex tax and accounting questions for more than thirty-five years, and its current site gives a narrower description of the focus: partnership, corporate and trust tax returns. It invites prospective clients to call for an appointment so that the firm can understand their goals and objectives before any work begins.

What tax preparation and planning involve

The firm argues that software may find deductions but cannot replace an experienced professional. For individuals and families, its tax work includes preparing the appropriate forms and recording figures accurately, making sure all deductions and credits are claimed, filing electronically so refunds arrive sooner and setting payroll withholding so each tax authority gets the correct share. It also shows clients how to arrange finances to benefit from tax rules in later years.

Sole proprietors who have neglected their books are offered a clean-up, with a Schedule C prepared as part of the personal return and a simple system set up so the books stay current. Planning techniques it describes include splitting income among family members or legal entities, timing income and expenses across years, choosing investments with tax advantages, tracking itemized deductions and using credits.

When tax problems have built up

A separate section deals with tax trouble, even before an audit arrives. The examples are missed filings, not enough money to pay the liability when due and unpaid payroll taxes. The firm says it will review earlier years, help obtain copies of the tax record without raising red flags, assess the liability with interest and penalties, and then work out an approach to negotiation. Outcomes it describes include a settlement for less than the amount owed where the authority accepts the offer, a payment plan, relief on penalties or interest and innocent spouse relief. Where negotiation fails, bankruptcy protection may be needed.

Bookkeeping and accounting for businesses

For businesses, the firm sets up and keeps a chart of accounts, produces federal, state and local filings, and runs periodic internal audits to find discrepancies such as double billings or unrecorded payments. Its bank reconciliation service matches the accounting records to monthly statements, which can uncover lost deposits, unauthorized transactions and unusual bank fees.