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Our Online Office brings financial services directly into your home or business enabling you to more actively participate in your financial management. Please browse the pages of this site and feel free to e-mail any questions, suggestions or other feedback.

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Tax Planning

Tax planning and tax forecasting services for individual and small business clients is a core competency of the firm. Effective tax minimization begins with long-term tax strategizing to establish overall objectives and is maintained with conscientious and consistent annual tax forecasting and mid-year tax planning.

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Small Business Tax Preparation

Small business tax return preparation and filing instructions is a core service offered to our clients. Whether your company is a C corporation, S Corp, Limited Liability Company, Partnership or Sole Proprietor a properly prepared tax return can be filed to minimize the tax owed.

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TAKE CONTROL OF YOUR FINANCIAL FUTURE TODAY

YOUR TRUSTED ACCOUNTING AND FINANCIAL PARTNER

YOUR TRUSTED FINANCIAL PARTNER

High level services and resources to help you achieve financial independence. 

TAX ACCOUNTING INSURANCE INVESTMENTS

MED SUPP LTC FINAL EXPENSE ESTATE PRESERVATION

RETIREMENT ADVICE EDUCATION

Financial Freedom Starts with a Plan. Life is complicated, Personalized, expert advice can help you  plan for it.

HJP Lakes Accounting & Financial Solutions, LLC  is a full service tax preparation and financial service firm. We take pride in the ability to combine tax and financial solutions*, which allows us to provide you with the highest level of service.

Below is an overview of the services we offer:

  • Tax Preparation for Individuals, Corporations and Partnerships
  • Accounting & Bookkeeping Services for small businesses  
  • Financial Planning* for Businesses and Individuals
  • Investment Planning*
  • Retirement Plan Set up and design:  401(k)'s*, IRA*, SEP*
  • Life Insurance & Annuities*
  • Long-term care Insurance*
  • Business Consulting and Planning
  • Estate & Retirement Planning*
  • College Coaching Program*
  • Financial Education Program*
If you’d like to know more about HJP Lakes Accounting & Financial Solutions, please give us a call at 404-667-6946
 
 

 

 

 

 
 
 
 

NEWSLETTERS

September 2020

Sep 02, 2020

Fall is right around the corner! As summer is winding down, the IRS wants you to be aware of common scams being encountered during the pandemic. Also included are tips to improve your credit score, and a review of alternative ways to budget so you can explore a method that works best for you. All this and some tips to save during your shopping excursions.Please call if you would like to discuss how this information could impact your situation. If you know someone who can benefit from this newsletter, feel free to send it to them. read more.

August 2020

Aug 05, 2020

Get a head start on your tax planning by reading about four new laws to help you in 2020. Also find out whether your business should incorporate and what you can do to increase the chances that your PPP loan is forgiven. Also included in this edition are mistakes to avoid when refinancing your mortgage.Please call if you would like to discuss how this information could impact your situation. If you know someone who can benefit from this newsletter, feel free to send it to them. read more.

July 2020

Jul 01, 2020

Remember, July 15 is now the tax filing due date because of the pandemic! It also means you may have a tax payment due on or before July 15. And if you have not yet received your federal stimulus check, this month's newsletter tells you what you should do. Also included is a recap of recent news that gives business owners more flexibility for getting your PPP loan forgiven.Also included in the newsletter are some ideas for fun, summertime activities for the entire family.Please call if you would like to discuss how this information could impact your situation. If you know someone who can benefit from this newsletter, feel free to send it to them. read more.

June 2020

Jun 03, 2020

read more.

When markets decline: Get strategic help from US!

May 27, 2020

Four key tax-efficiency strategies to consider during a market downturn 1. Harvest long-term capital losses Doing so can offset a client’s long-term capital gains from the same year. If an investment in a taxable account had been sold at a gain earlier in the year before the market declined, taking a strategic long-term loss could help offset the taxes on the gain. Also, up to $3,000 of capital losses can be used to offset ordinary income each year. Lastly, clients can carry forward any capital loss into future tax years until all of it has been offset by future realized capital gains. Note that short-term losses are subject to different rules; consider them carefully. 2. Exit or reduce a highly appreciated holding Sometimes clients have investments that have grown way above their basis value — which is what one hopes for, but it means that selling could lead to a large tax bill. In a down market, however, a client may be able to harvest a significant capital loss on other assets, creating an opportunity to offset a long-term capital gain on the highly appreciated one. Another possibility: If a client is in the 0% capital gains bracket,1 they can sell some or all of the shares and immediately rebuy them, effectively getting a free step-up in basis. Retired clients in the 15% capital gains bracket may find it more tax efficient to draw income from a stock sale rather than a source subject to marginal tax rates. 1 Married clients filing jointly with total taxable income of $80,000 or less (2020). The $80,000 is inclusive of the capital gain. 3. Roth conversions This is when a client converts a portion of their traditional IRA to a Roth IRA. There may be advantages in the long term to having money in a tax-free account. Under current tax law, Roth IRAs do not have required minimum distributions (RMDs), whereas traditional IRAs do. When the RMDs begin, it can sometimes create a jump in tax brackets for clients. Shifting assets to a tax-free account such as a Roth IRA now could mean big savings for clients later.2 Tax must be paid on the converted funds — but the value is down, so taxes are less than they’d be if the Roth conversion were done at market peak. The hope is that the money is recovered and even grows in the Roth IRA, and is then tax free at withdrawal (or becomes a tax-free inheritance). 4. Life insurance For clients who want to ensure that their heirs receive a specific amount of inheritance, life insurance may be a suitable solution. In a market downturn, a retiree over age 591/2 could consider withdrawing from a traditional IRA and buying life insurance. Tax will be owed on the IRA withdrawal, but assuming that the value of that account is down at the time, the tax would be lower than at market peak. When the insured client dies, the goal of leaving a financial legacy will be achieved with an income tax-free death benefit. 2 Qualified distributions from a Roth IRA can be withdrawn income tax free. To be a qualified distribution, the Roth IRA has to be more than five years old and the owner has to be over age 591/2. read more.

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