State Tax Preparation
In addition to assisting with federal income tax returns, Chandler & Knowles CPAs can help you with your state tax preparation. You may already know that Texas is one of seven states that does not collect income tax, but what you might not realize is that there are several situations in which state tax services can still be highly beneficial.
Whether you are filing state or federal tax returns as an individual or business owner, working with our certified public accountants can help you find ways to minimize your taxes through legitimate means and avoid costly audits. We can help you prepare this year’s state taxes and plan ahead to reduce your taxes in the future.
Who Can Benefit from State Tax Services:
Individuals Who Have Moved Out of State -- If you have worked with Chandler & Knowles before but have recently moved out of Texas, we can help you navigate the tax laws in your new resident state. Forty-three states and the District of Columbia currently collect income taxes, and there is a lot of variation in the tax code from state to state. For example, while nine states have a single tax rate for all incomes, thirty-four have multiple rates and tax brackets. Filing your taxes after moving can be challenging, especially if you are used to only filing a federal income tax form in Texas. Chandler & Knowles CPAs can help you prepare your taxes so that you avoid expensive and stressful errors.
Anyone Who Needs to File Sales & Use Tax Returns -- While the Lone Star State does not collect income tax, we do have sales and use taxes. Business owners are required to collect sales tax on all taxable goods, and anyone who purchases an item from outside the state of Texas for in-state use is required to pay a use tax. For example, if you make an online purchase from a vendor in New York and do not pay sales tax, you will have to file a Texas use tax. Chandler & Knowles CPAs can help you determine when sales and use taxes are due and file the appropriate documents so that you aren’t unnecessarily penalized.
Business Owners -- If you run a corporation, S corporation, or limited liability company (LLC) in Texas, you are subject to the state’s franchise tax—unless your business’s income is below the no-tax due threshold. Furthermore, if you sell or lease tangible personal property in Texas, or if you sell taxable services in Texas, you are also required to file sales taxes. Any business owner can benefit from having a certified public accountant assist them with their taxes, but it is especially prudent to work with a CPA if you recently started a business and have limited experience with business tax codes.
Get Started on Your State Tax Preparation with Chandler & Knowles
If you know that you will be required to pay state taxes this year, be proactive and schedule an appointment with Chandler & Knowles CPAs. We have extensive experience in tax preparation for businesses and individuals, and we can help you work through the nuances of taxes whether you live in Texas or elsewhere in the United States.
Contact us today to learn more about our state tax services and to set up a meeting at our Flower Mound office.
Spread the Word:
"I recommend Chandler & Knowles CPA's without hesitation, and we look forward to working with Rochelle, Kristy and the rest of the C&K staff for another 7 years and beyond!"
~ Tony Rex, CEO of Medical Experts of Texas, P.A./Premier Inpatient Management Services, LLC
They are a great company to trust with all of your tax needs. They are good people and I enjoy my relationship with them. And it truly is a relationship, not just a service I use once a year.
~ Rick Schenck, UPS Business Owner
Great people. Effective. Efficient. Competent. Unlikely you would find a better, or even equal, CPA firm in the DFW Metroplex, and likely in the State.
~ Todd Benton
"The staff at Chandler & Knowles CPAs could not be better! They are always friendly, accommodating, and efficient. Their quick return/response time is greatly appreciated, as customer service is an uncommon practice during this day and time."
~ Tracy Richards