Best Forensic Accounting & CPA Tax Consulting Services near Elk River, Minnesota

Forensic Accounting Services near Elk River, Minnesota

Forensic Accounting is a specialty practice area that addresses real or anticipated legal proceedings and encompasses both litigation support and investigative accounting.

Our expertise lies in helping people near Elk River with fraud deterrence and investigation of embezzlements, evaluating financial disclosures in matrimonial and probate concerns, as well as other types of forensic accounting matters.

TDHCD assists companies, individuals, and organizations to evaluate their accounting records, controls and results, with the goal of identifying any potential irregularities. TDHCD will provide an objective, independent review specializing in the field of forensic accounting. The independent review also acts as a deterrent which strengthens the organization’s internal control environment.

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FORENSIC SERVICES

• Fraud prevention and detection

• Fraud investigations

• Investigation of employee embezzlements

• Economic damage calculations

• Fraud risk assessments

• Expert witness testimony

• Participation in settlement negotiations

• Forensic accounting

• Litigation support

• Matrimonial matters

• Probate matters

Best CPA Tax Planning Services near Elk River, Minnesota

You make decisions every day that end up influencing your tax position. From deductions and tax credits to gifting and income deferrals, both individuals and businesses face significant choices. In an environment where the tax code is complicated and ever-changing, the right tax planning done early can dramatically impact your overall financial position.

Your strategy begins with a full assessment of your unique position, reviewing your financial decisions with your tax obligations and scenarios in mind. We help advise individuals and businesses as to the right path, the right timing, and the right strategy for minimizing their risk and exposure.

As your trusted advisor located near Elk River, we stay on the cutting-edge of the latest tax laws and developments to help you make smart and informed decisions. As a client of TDHCD, you’re getting the confidence that you have protected your assets, made sound financial decisions, and are prepared for the future.

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TAX PLANNING 

Audit and Accounting

Tax Planning Services

• Estate, trust, and gift tax compliance planning services
• Multi-state tax planning, compliance, and nexus studies
• Representing clients before the IRS and State authorities
• Specialized tax credits (R&D credit, Angel credit, etc)
• Sales and use tax

Small Business Consulting

Consulting Services

Forensic Accounting

Divorce Accounting Services

• Economic Damage Calculations

Top CPA Tax Consulting Services for Elk River, Minnesota

In many cases, businesses have an inside-only view of their financial position. They rely heavily on their accounting software to tell the full story, and even with an internal accounting staff to handle the basics, their perspective can be very limited. Many business owners are stretched thin and in need of help to stay compliant, plan their strategies, and meet their goals.

TDHCD will provide you with the resources your business needs as you need them and when you need them. We at TDHCD will be by your side to help you and your business navigate the challenges you encounter every day.

Working in a consultant role, we see ourselves as part of your team and we take that responsibility very seriously. Our goal is to use our experience to help your business in Elk River, Minnesota grow and transform, making your processes more efficient, and making your more profitable.

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TAX CONSULTANTS

• Merger and acquisition advisory services

• Financial forecasts, projections, and budgeting

• Accounting systems development

• Accounting software implementation

• Due diligence services

• Internal control reviews and assessments

• Fraud risk assessments and examinations

• Family law support (valuations, asset recovery, and divorce advisory)

• Litigation support and expert witness services

• Personal financial statements

• Economic damage calculations

Elk River, MN Best Tax Audit & Accounting Services 

How can you accurately gauge your company’s true financial standing? How do you know if the numbers you are using to make key decisions are reliable? How can you ensure that you have the right controls and policies in place to protect your business? Are your records current and validated? These are some of the questions that keep you up at night.

At TDHCD, we provide a full menu of auditing and accounting services for Elk River and surrounding cities to ensure that our clients have the resources at their disposal to make informed decisions and choices based on real numbers.

Our auditing and accounting services are an extension of your business helping ensure that everything financial is in order, and nothing is getting missed. Our audit services are a tool to verify your current standing and provide a new level of insight and confidence as you track performance, to make your most important decisions.

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CPA TAX AUDITS & ACCOUNTANTS

• Financial reporting

• Compilations

• Reviews

• Audits

• Benefit Plan Audits

• Agreed Upon Procedures

• Compliance audits

• Non-profit audits

• Bookkeeping

• Interim financial statements

• Government audits

Tax Filing for Millennials: Mistakes you must avoid

Filing taxes can be a stressful task, especially for the millennials who are a novice in the field of accounting and taxes. According to a recent survey by Nerd Wallet, 80% millennials dread filing their taxes as they fear to pay too much, and not getting a full refund among others. Moreover, when these 20-somethings groups of people do file their taxes, most of the times they are doing it wrong. While making a mistake is justifiable, it does not cut for a legitimate defense when the tax man comes knocking at the doorsteps. After considerable trawling, we’ve come up with some of the common tax filing mistakes millennials are likely to make. Keep scrolling until the end and discover the best ways to filing the taxes right.

Go Online
Millennials realize that filling taxes is important, but at the same time, they have little to no understanding of what it actually entails. As a result, they tend to go for the easiest option of filing taxes, instead of seeking out the method that is best for them. According to Nerd Wallet’s 2016 survey, millennials taxpayers are more likely to file paper returns than any other age group.

Tax Advisors suggest filing taxes online. Electronic filing creates a permanent record for your future use, and whenever a question comes up regarding your tax returns, you can simply pull out the required information from the web. Apart from that, online filing is accurate, fast and can help you score bigger refunds.

Identify Qualified Claims
One is eligible to claim tax deductions on mortgage and student loan interest payments. Similarly, capital losses from trading on investment platforms or investing in retirement accounts also make you eligible for claiming tax deductions within certain limits. Knowing where you can claim deductions and how you can lower your tax bracket can help get the maximum tax return. Therefore, it’s important to understand all the different aspects of filing taxes.

Last Minute Filing
Mistakes tend to scale when a task is completed in a hurry. Waiting until the last minute to file taxes will make you feel rushed as you try to complete documentation, and this is when you are most likely to make a mistake. If you plan on filing your tax returns yourself, it’s wise to double check the work. Plus, filing the tax returns in advance gives you the opportunity of consulting with tax advisors or getting help from someone proficient in accounting.

Remember your Moonlighting
Millennials have undoubtedly perfected and branded side jobs (side hustles). Therefore, if you are one who loves moonlighting as a freelancer, don’t be surprised if the government considers you a small business owner. You must realize that your side hustles make you eligible for certain deductions and you might be owed cash back if you’ve spent money on your freelancing endeavors. Remember, not adding the expenses related to your side hustle is a costly mistake, which might be minimizing your tax returns. If you experience any of these significant changes in the past financial year, make sure it reflects in your tax returns as well.

Don’t forget your major life changes
Did you recently tie the knot or welcome a new member to your family? Well, it’s highly unlikely for anyone to forget such major life events. But one might actually not realize the implications of these life events on his/her taxes. Life events like getting married, divorce, having a child, buying a house, losing a job, or starting your own business, etc. can give you huge tax deductions.

Filing taxes doesn’t really need to be scary. If you feel overwhelmed or confused during the process, you can always seek out help from one of our expert tax advisors in your area.

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