We have been providing tax preparation and IRS representation for 17 years. We solve problems. Careful planning and preparation is crucial when it comes to optimizing your tax savings and preserving your hard-earned income. The Tax Professionals at Nagendra And Associates will help you address your needs, answer your questions and provide you with the insight needed to increase your wealth while reducing your taxes with an eye on your long-term goals.
Our tax professionals understand the importance of filing your taxes correctly and on time. We look at the overall picture to ascertain the best tax strategy for each client’s situation.
Preparing your own tax returns can be an intricate and difficult process, and certain deduction errors can put you at risk of an audit.
We work with business owners helping them to understand the complexities of both business and personal tax planning while helping to optimize both personal and business tax savings through proper planning.
Specializing in tax preparation, we strive to provide dependable tax services and are proud to stand behind all our work. We have developed a reputation for reliable, efficient and affordable tax services, and we promise to do everything in our power to get you the most on your return.
Storing tax records: How long is long enough?
April 15 has gone and another year of tax forms and shoe boxes full of receipts is behind us. But what should be done with those documents after your check or refund request is in the mail?
Federal law requires you to maintain copies of your tax returns and supporting documents for three years. This is called the “three-year law” and leads many people to believe they’re safe provided they retain their documents for this period of time.
However, if the IRS believes you have significantly under reported your income (by 25 percent or more), it may go back six years in an audit. If there is any indication of fraud, or you do not file a return, no period of limitation exists. To be safe, use the following guidelines.