Individual and Business Tax Preparation and Filing
Make compliance simple.
Will I Get Audited If I Claim This Deduction?
And Other Tax Questions That Keep Monroe Residents Up At Night
You've probably asked yourself at least one of these questions while staring at tax forms or software:
At Your Financial Solutions in Monroe, NC, we hear these questions (and dozens more) every day. And unlike those big tax chains or robotic software programs, we give you straight answers that actually make sense.
When Should I Start Thinking About My Taxes?
In April when they're due!
The best time to think about your taxes was January 1st.
The second-best time is today.
Most Monroe residents wait until the last minute to deal with their taxes, which is like studying for a final exam the night before — technically possible, but stressful and likely to produce suboptimal results.
When you work with us, tax preparation becomes a year-round strategy, not a seasonal panic attack. We help you set up systems to track deductions, plan major purchases or sales, and make smart financial moves before December 31st when most tax-saving opportunities expire.
Do I Really Need a Professional Tax Preparer in Monroe NC?
Only if you're rich or have a complicated situation.
If you value your time, want to maximize deductions, and sleep better at night, professional tax preparation makes sense for most people.
Here's why our Union County clients choose professional tax preparation:
Tax software can't ask you the important follow-up questions that often uncover hidden deductions. It doesn't know that your daughter's dance lessons might qualify for the child care credit if structured correctly. It can't tell you that your side gig selling crafts might benefit from specific business deductions.
Our Monroe tax professionals don't just enter numbers in boxes, we look at your whole financial picture and find opportunities others miss.
What Tax Documents Should I Keep, and For How Long?
Keep everything forever
(just to be safe).
Different documents have different retention requirements, and we can help you create a simple system.
Here's a quick reference guide our Monroe clients find helpful:
Keep for 1 Year:
Keep for 3 Years:
Keep for 7 Years:
Keep Forever:
What's the Difference Between a Tax Deduction and a Tax Credit?
They're basically the same thing.
Credits are MUCH more valuable than deductions, and knowing the difference can save you thousands.
A tax deduction reduces your taxable income. If you're in the 22% tax bracket, a $1,000 deduction saves you $220.
A tax credit reduces your actual tax bill, dollar for dollar. A $1,000 tax credit saves you exactly $1,000, regardless of your tax bracket.
Our Monroe tax preparation team specializes in identifying often-overlooked credits like:
What Happens If I Get a Letter From the IRS?
Panic and ignore it, hoping
it goes away.
Don't panic, but don't ignore it. Most IRS notices are not audits and can be resolved easily.
The most common IRS notices our Monroe clients receive are:
No matter which notice you receive, the worst thing you can do is nothing.
Our tax team helps Union County residents respond properly to IRS notices every week. In most cases, a timely, well-documented response resolves the issue without additional taxes or penalties.
I Haven't Filed Taxes in a Few Years. Am I Going to Jail?
Yes, pack your toothbrush.
Probably not, but you need to address the situation ASAP.
The IRS is far more interested in getting you back into compliance and collecting taxes than putting you in jail. Criminal prosecution is generally reserved for deliberate fraud, not procrastination or confusion.
Our Monroe tax preparation team helps many "late filers" get caught up through:
TAX CALENDAR
Key Dates Monroe Residents Need to Know
JANUARY
Jan 15: 4th quarter estimated tax payment due
(if applicable)
Jan 31: W-2s and 1099s must be issued to workers
FEBRUARY
Early Feb: Begin gathering tax documents
as they arrive
Mid-Feb: Schedule your tax preparation appointment with us
MARCH
Mar 15: S-Corporation and Partnership returns due
Late March: Last call for tax planning before filing
APRIL
Apr 15: Individual tax returns due
Apr 15: 1st quarter estimated tax payment due
Apr 15: Last day for IRA contributions for
previous year
JUNE
Jun 15: 2nd quarter estimated tax payment due
SEPTEMBER
Sep 15: 3rd quarter estimated tax payment due
Sep 15: Extended S-Corporation and Partnership returns due
OCTOBER
Oct 15: Extended Individual tax returns final deadline
DECEMBER
Dec 31: Last day for tax-deductible donations
Dec 31: Last day for most tax-saving strategies
How Does Your Tax Preparation Service Actually Work?
You dump your documents on us and we'll call you when
we're done.
We've created a simple, stress-free process that keeps you informed every step of the way.
We start with a conversation about your tax situation, life changes in the past year, and financial goals. This helps us identify potential deductions and credits before we even see your documents.
Our experienced tax professionals prepare your return, looking for every legitimate deduction and credit. Then, a second professional reviews it for accuracy and missed opportunities.
We file your return electronically, provide you with complete copies, and follow up to ensure any refunds are received or payments are processed correctly.
You provide your tax documents through our secure portal, by mail, or in person at our Monroe office. We'll give you a personalized checklist so you know exactly what to gather.
We explain your return in plain English, answer any questions, and get your approval before filing. No surprises, no confusion.
Answering your questions:
Not the entire payment, but you can deduct the business percentage of your vehicle expenses. For example, if 30% of your driving is for Uber, you can deduct 30% of your gas, insurance, repairs, and depreciation (or take the standard mileage rate). We help many Union County gig workers maximize their vehicle deductions while staying compliant.
Absolutely! Depending on your income and her enrollment status, you might qualify for the American Opportunity Credit (up to $2,500 per year) or the Lifetime Learning Credit (up to $2,000). Plus, you might be able to deduct student loan interest. Many Monroe families leave thousands of dollars of education credits on the table because they don't know how to claim them properly.
More than you probably realize! Beyond the obvious business expenses, you might qualify for a home office deduction, internet and phone expenses, health insurance premiums, retirement plan contributions, and even part of your utilities. Our Monroe tax team specializes in helping small business owners maximize legitimate deductions without crossing into audit-trigger territory.
TAX PREPARATION SERVICES TAILORED TO YOUR NEEDS
INDIVIDUAL TAX RETURNS
Whether you're a W-2 employee, have multiple income sources, or deal with investment income, our individual tax preparation services ensure you pay exactly what you owe, and not a penny more.
BUSINESS TAX RETURNS
From sole proprietors to corporations, our business tax preparation services help Monroe and Union County businesses stay compliant while minimizing
tax liability.
SPECIALTY TAX SITUATIONS
Some tax scenarios require specialized knowledge. We handle complex situations including rental properties, multi-state returns, cryptocurrency transactions, and foreign income reporting.
TAKE OUR 3-QUESTION TAX QUIZ
Are you leaving money on the table at tax time? Answer these three questions to find out:
1. Did you make any charitable donations last year, including non-cash items?
2. Do you have any children under age 17 or in college?
3. Do you have any self-employment or side gig income?
If you answered "yes" to any of these questions and aren't working with a professional tax preparer, you're probably paying too much in taxes. Contact us today for a free assessment of your potential tax savings!
Ready for Tax Preparation That Actually Makes Sense?
Contact Your Financial Solutions today for straightforward tax preparation services in Monroe, NC.
We promise to answer your questions in plain English and find deductions your software might miss.