Accounting For Medical Professionals & Lawyers in Newport Beach

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If you are in the medical or legal field, chances are, your initial goal was sure to help people. You went through years of schooling in order to become an expert in your chosen profession. However, when it comes to running this type of business, sometimes your good intentions get buried in paperwork. Let the Newport tax and accounting leaders at James D. Anderson, CPA help you with your tax prep and tax planning.  

Our tax professionals have been working with doctors and lawyers in Newport Beach for over 35 years, assisting them with all of their tax issues. 

Here are the tax-related areas in which we can help:

Tax Planning for Doctors and Lawyers:

You may not want to think about taxes too much earlier than April 15, but the earlier you start planning, the better off you will be. We can help you:

• Defer income so you can keep more money now and pay fewer taxes later
• Reduce taxes on your:
• Income 
• Retirement Distributions
• Investments
• Increase and preserve your assets

Our Tax Strategies

Our tax strategies have proved to benefit our clients running Professional Businesses such as law firms and doctors’ offices. Our strategies will allow you to:

• Shift income and expenses from one year to another so they won't be taxed as much
• Defer tax liabilities through pension plans and contributions
• Split income amongst family members or legal entities in order to get in a lower tax bracket 
• Use investments to create income that is tax exempt from state and/or federal taxing entities

Tax Preparation

As a doctor or lawyer, you may think with your limited time you should just get your taxes done as quickly as possible. This is how deductions are missed and errors are made. With our tax preparation services, we will:

• Check your return with our advanced computer software and then check it again to identify and fix any problems
• File your return electronically so you can get your refund quickly
• Show you how to adjust your payroll withholdings to get more money back
• Find potential deductions to limit your tax liability for next year

We can also help you with:

• Payroll taxes
• Business consulting
• IRS tax problem resolution
• Better management of your revenue vs. costs

We know that you have more urgent items to focus on than taxes. While you concentrate on helping your Newport Beach area clients, the professionals at James D. Anderson CPA will make sure that all aspects of your taxes are handled correctly.