Steward Ingram & Cooper, PLLC provides tax consulting services in Durham to individuals, businesses, and non-profit organizations designed to help you meet your financial goals. A member of our Durham CPA firm will sit down with you to analyze your finances and discuss your objectives in order to provide tailored strategies designed to put your income to the best use while reducing your tax liability. As your tax advisor, we strive to act as a trusted partner, helping you make informed decisions about your finances and are dedicated to helping you prepare for the future.
Who Are Tax Consulting Services For?
Our tax consulting services in Durham, NC are available for clients who have ongoing monthly accounting services with us as we must have your specific financial information to understand your unique situation before advising you on tax planning strategies. Many of our clients meet with their dedicated CPA virtually on Zoom after establishing a business relationship at our in person office in Morrisville so they can access their dedicated tax professionals anywhere, anytime.
For businesses seeking tax consulting services, we work with local and regional companies that run medical practices, engineering firms, law firms and tech companies in the greater Durham, NC area. When it comes to individual tax consulting, we work with high-net worth individuals who have multi-state filing, income from rental properties, and/or long-term tax planning with complex financial situations.
To learn more about our services or to request a consultation, call (919) 872-0866 or fill out the form below.
What Does a Tax Consultant Do?
Your tax consultant reviews your income, entity structure, and goals, then recommends ways to manage your tax liability within current tax law. That can include planning for taxable income, identifying deductions and credits you may qualify for, and meeting IRS and North Carolina Department of Revenue requirements. Tax preparation reports what already happened, while tax consulting looks ahead.
Tax Consulting for Durham Business Owners
We work with owners of established businesses and professional practices on planning that can lower your tax liability across several years of returns. Common situations we help with include:
- Entity selection and review, including LLCs, S corporations, and C corporations
- Preparing financial statements and analysis so you understand the financial status of your organization
- Owner compensation, distributions, and estimated tax payments
- Multi-state filing when you operate in more than one state
- Resolving tax issues from prior years
- Budget and cash flow planning tied to your tax payments
- Working with you to create a budget and cash flow management strategy
For ongoing returns and estimates, see our business tax planning and preparation in Durham.
Tax Consulting for High-Net-Worth Individuals and Families
When it comes to individuals and families with investment income, business interests, and multi-state taxes, our CPAs van guide you on:
- Investment gains and rental income, including multi-state tax filing when properties sit in more than one state
- Closing out or resolving issues related to prior years’ returns
- Advising you in tax issues related to college funds, retirement savings, and family changes and how to make the right choices to reduce your tax burden
- Providing in-depth explanations of how strategies affect taxes and what this can mean for both short and long-term financial planning;
- Merging your business income and expenses into your personal tax returns
Your annual returns can be handled through our personal tax planning in Durham services.
Foreign Income and Asset Reporting
The Tax Cuts and Jobs Act of 2017 changed how the U.S. taxes foreign income and assets, and later legislation has continued to adjust the details. Our CPAs can help you review foreign income, foreign accounts and assets, and business activity abroad for tax compliance, whether you work overseas, travel often, or hold investments in another country.
Why Durham Clients Choose Steward Ingram & Cooper
Since 2000, our CPA firm has provided accounting and tax services to businesses and individuals. We are members of the AICPA, NCACPA, and CPAConnect, and we match each client with the CPAs who fit the engagement, drawing on industry experience in medical, engineering, and legal practices.
Our tax consulting is built for complex tax situations, so we start with a conversation about your finances before recommending a plan. It works alongside our tax planning and preparation in Durham, and you can see the full scope in our tax consulting services overview.
Frequently Asked Questions
What is the difference between a CPA and a tax consultant?
Tax consultant is a general title that generally does not require a specific license. A CPA is licensed by the state board of accountancy and must meet education, exam, and ethics requirements. Many tax consultants are CPAs, and our tax consulting is provided by CPAs.
What is the difference between tax consulting and tax preparation?
Tax preparation reports what happened in a tax year and files your returns. Tax consulting looks ahead, reviewing entity structure, income timing, and major decisions before they affect a return. Many clients use both, and we offer tax planning and preparation in Durham alongside our consulting.
Is tax consulting worth it for a small business?
It depends on how complex the business is. A business with a straightforward return may not need ongoing consulting. Tax consulting generally helps most when you have more than one entity, income in more than one state, higher income, or a planned sale or purchase, because those factors can change what you owe. Our tax consulting is generally a fit for owners in that position, and no CPA can guarantee a specific savings amount.
How much do tax consultants charge?
Tax consultants may charge hourly, by project, or through an ongoing arrangement, and fees generally reflect the complexity of the work. Our tax consulting is generally a fit for business owners and individuals with complex finances, and fees are based on the scope of the work. Call (919) 872-0866 to discuss your situation.
What types of clients do you work with?
Our business clients are mostly service-based, including medical practices, engineering firms, and law firms, along with restaurants, child care centers, and construction and home service companies. We also work with individuals who have complex finances, such as multiple income sources, rental properties, or foreign income.
Can I work with a Durham tax consultant remotely?
Yes. We now serve Durham clients from our Morrisville office, and most of our client work is done virtually. We also work with clients in other states and other countries, with in-person meetings available when they help.
How do I get started?
Call (919) 872-0866 or fill out the contact form below to speak with a CPA about your finances and goals. Referred by a current client? Let us know.