Frequently Asked Questions

At A&M FINANCIAL SERVICES, our team of tax professionals has over 10 years of experience in the tax industry. We have helped thousands of clients with their tax needs and strive to provide the highest quality of service.

If you make a mistake on your tax return, we can help you to correct it and file an amended return if necessary. It's important to address any mistakes as soon as possible to avoid penalties or further issues.

 Many expenses could be tax deductible. The most common ones to look out for include business start-up costs, cost of supplies, office or business expenses, salaries, travel, rent, and more. However, there may be tax deductibles you’re unaware of and costing you your return. Our professional accountants will be able to clear up any further questions when they assess your documents. 

The best thing you can do to maintain your accounting records is to find the right bookkeeping system or software for your business. Most software programs will let you track expenses, income, and taxes all in one place. Make sure you have a regular schedule for updating your books so that you never fall behind. If you need help picking an accounting software, reach out to us! 

You should keep the following records for at least six years:

• Business expenses
• Sales records
• Accounts receivable
• Accounts payable
• Customer list
• Vendors
• Employee information
• Tax documents

Depending on your type of business, there may be more records to keep track of. We’ll be able to help you determine more specific guidelines after discussing your situation.

As a business, you can deduct many expenses, including:

• Start-up costs
• Supplies
• Travel
• Office expenses
• Salaries
• Rent

Depending on the nature of your business, there may be other deductible expenses that are less common. With more specific information, we could identify other expenses eligible for deduction.

Ensure you gather all your documents, receipts, and personal information and take them to a certified tax preparation accountant. A professional will ensure you don’t miss anything that could result in tax issues or improper returns. 

There are many benefits to outsourcing your payroll to our team of professional accountants, such as:

• Saving time
• Minimizing expenses
• Eliminating mistakes
• Guaranteeing code compliance
• Responding to concerns and questions

We’ll give you confidence that your payroll has been completed properly and have the expertise to help address any questions or problems you might have.