Individual Tax Planning and Preparation

Tax laws, tax forms, and informational IRS reporting requirements can be complex. The difficulty and risks of falling out of compliance with these laws and requirements grows exponentially as the number of personal and business circumstances with a tax implication increase. A tax services relationship with Hampton Roads Tax & Accounting Services, of Hampton Roads will give you access to year-round questions, guidance, create specific transaction plans, or resolve tax problems.

Tax Return Preparation and Tax Planning Services

The best way to avoid tax trouble, is to file on time with competent tax accountants. Our approach at HRT is to prepare our clients early with planning, and there are several steps we build in to accomplish that goal.

  • We make every effort to avoid the need to file tax extensions delaying the preparation of the return. We prioritize finishing the return when others would just file an extension and prepare the return later.
  • When an extension can’t be avoided, we work with you to create an accurate estimate of taxes owed so you can pay on time and avoid interest and penalties.
  • We work with you to answer the setup questions that come with a new venture or a change in employment status. We help you determine what forms need to be filed so the IRS has correct information about your status, or to make sure you’ve formed your new venture under the right type of legal entity.
  • We work with you regarding the tax implications of your investments in stocks and bonds to make sure you’re holding them in the most tax advantageous accounts, and that you’ve made the best elections for how gains and losses will be calculated.

Get Tax Season Organized

We know how overwhelming tax season can be. That’s why we have included this tax organizer to help you get your documents in order. The best part – it’s FREE. Just download it with no obligation.


Income Verification

Income verification is being required with increasing frequency from bankers, landlords, and employers as the presence of fraud has raised risk for these parties. Income verification has even become an important part of benefit eligibility under the Affordable Care Act.

To provide proof of income, self-employed individuals, those with cyclical income, or whose income has changed significantly since that reported on recent tax forms are often asked to obtain authoritative documentation from a CPA. For existing clients, this is usually a simple request because we are familiar with your income and tax returns. However, we are happy to attempt to do this if you have prepared your tax returns by yourself or somewhere else, as long as you provide us with all of the necessary paperwork and information.


We also have a great online tax e-file site, file for FREE using 1040ez