Generated by All in One SEO v5.0.0.1, this is an llms.txt file, used by LLMs to index the site. # Master Plan Tax Solutions Tax Prep and Planning For You! ## Sitemaps - [XML Sitemap](https://masterplantaxes.com/sitemap.xml): Contains all public & indexable URLs for this website. ## Posts - [Our Blog](https://masterplantaxes.com/our-blog/) - [et_pb_section bb_built=”1″][et_pb_row][/et_pb_row][/et_pb_section] - [What is Business Health and How Can Master Plan Tax Solutions Help?](https://masterplantaxes.com/2023/07/24/what-is-business-health-and-how-can-master-plan-tax-solutions-help/) - As a business owner, you wear many hats and manage many responsibilities. One of the most crucial responsibilities you should have as a business owner is monitoring your business's financial health. In other words, keeping track of your business's income, expenses, and its overall financial performance. If you don't observe your business activities, whether it - [Strategic Business Planning: How Master Plan Tax Solutions Can Help](https://masterplantaxes.com/2023/07/12/strategic-business-planning-how-master-plan-tax-solutions-can-help/) - In a rapidly changing business landscape, a well-developed strategic plan is essential for companies to stay ahead of the curve. Strategic business planning providems companies with a roadmap to achieve their goals, identify areas for growth, and remain competitive in their respective industries. As a business owner, you may be bogged down with the day-to-day - [Revolutionize Your Payroll Management with Master Plan Tax Solutions](https://masterplantaxes.com/2023/06/21/revolutionize-your-payroll-management-with-master-plan-tax-solutions/) - Managing payroll can be a challenging process for any business owner. From managing payrolls to filing taxes within the given time frame, it requires a lot of time and effort that can be quite frustrating. However, with the right support and resources, managing payroll can become an efficient and stress-free task. This is where Master - [How Hiring a Bookkeeper Can Improve Your Business](https://masterplantaxes.com/2023/06/12/how-hiring-a-bookkeeper-can-improve-your-business/) - Managing your business finances is not an easy task, and trying to stay on top of everything can feel overwhelming. You might be tempted to handle everything on your own, but this is not always the best course of action. Understanding your books and keeping accurate records is critical for your business success. Even if - [What Really Happens In An IRS Audit?](https://masterplantaxes.com/2023/05/24/what-really-happens-in-an-irs-audit/) - Being audited by the IRS is a situation that often scares taxpayers. There’s certainly nothing enjoyable about being audited, but it’s important to understand what really happens in this process. In this blog, we will go over what happens in an IRS audit so that you can better understand the process and be prepared in - [What is a tax projection?](https://masterplantaxes.com/2023/05/15/what-is-a-tax-projection-3/) - A tax projection is an estimation of the taxes a person or business will have to pay in the next fiscal year. This prediction can be made for both federal and state taxes. The IRS can provide this projection based on prior years' returns and current financial information. Tax projections are then used by taxpayers - [When do I need IRS Representation?](https://masterplantaxes.com/2023/04/24/when-do-i-need-irs-representation/) - When it comes to taxes, the situation can become stressful and confusing. It only gets worse when you receive letters from the IRS that you don't understand. This is where Master Plan Tax Solutions comes in – we can help to clear up any misunderstandings and resolve any issues you may have. Here's when you - [It's Tax Time: What You Need To Know](https://masterplantaxes.com/2023/04/10/its-tax-time-what-you-need-to-know/) - Tax Day is almost here and it can be a stressful time for many individuals. The process of filing taxes can seem overwhelming, but with the right preparation and knowledge, you can make sure that you are ready when the deadline arrives. Here’s what you need to know as tax day approaches. Get Prepared The - [Get Ready for Tax Day with Master Plan Tax Solutions!](https://masterplantaxes.com/2023/03/22/get-ready-for-tax-day-with-master-plan-tax-solutions/) - It’s that time of year again! April 15th may be months away, but it’s never too early to start preparing for tax season. Maintaining your financial records is important all year round and tax preparation is no exception. That’s why the team at Master Plan Tax Solutions is here to help you get ready for - [A Must for Business Owners](https://masterplantaxes.com/2023/03/13/a-must-for-business-owners/) - As a business owner, one of the most important aspects of your financial strategy is tax planning. Tax planning involves taking proactive steps to minimize your taxable income and maximize deductions. By understanding how taxes work and how to plan for them, you can save money and use that money to grow your business. Why - [Releasing the Weight of Tax Burdens and Business Difficulties](https://masterplantaxes.com/2023/02/22/releasing-the-weight-of-tax-burdens-and-business-difficulties/) - Tax burdens can seem like insurmountable obstacles, making it difficult to move forward. Business difficulties can be just as daunting, with a myriad of regulations that can hinder growth. At Master Plan Tax Solutions, we understand how taxing (no pun intended) dealing with these issues can feel. We are here to help you find the - [The Timing of Filing Your Taxes](https://masterplantaxes.com/2023/02/16/the-timing-of-filing-your-taxes/) - Knowing when to file your taxes is an important part of financial planning. It’s never too early to start thinking about filing season, so here’s a breakdown of when and how you should prepare for filing your taxes. Filing Deadlines The deadline for most people to file their taxes is April 15th. If this day - [Keep Up with Tax Law Changes and Avoid Leaving Money on the Table](https://masterplantaxes.com/2023/01/24/keep-up-with-tax-law-changes-and-avoid-leaving-money-on-the-table/) - If you’re a business owner, it can be difficult to keep up with the ever-changing tax codes. While many of these changes are relatively minor, there are some major overhauls that could significantly affect your bottom line. The key is knowing which laws have changed so that you can take advantage of any new deductions - [The Ins and Outs of Strategic Business Planning](https://masterplantaxes.com/2023/01/11/the-ins-and-outs-of-strategic-business-planning/) - Strategic business planning is a process that outlines the roadmap for the future of your business. It involves researching and analyzing current trends in the industry, setting goals and objectives, making decisions on how to achieve those goals, and evaluating progress along the way. By engaging in strategic business planning, you can ensure that your - [What Are the Most Common Bookkeeping Mistakes Small Businesses Make?](https://masterplantaxes.com/2022/12/28/what-are-the-most-common-bookkeeping-mistakes-small-businesses-make/) - As a small business owner, you have many responsibilities. It will help if you manage your time and finances while keeping up with the latest trends in your industry. It can be easy to make mistakes when juggling so many things simultaneously. One of the most important tasks of any business is accounting. With accurate - [What are the most common payroll needs that face a small business?](https://masterplantaxes.com/2022/12/13/what-are-the-most-common-payroll-needs-that-face-a-small-business/) - Master Plan Tax Solutions ensures that your employees receive proper rewards and wages for their efforts while at the same time ensuring that your financial records and statements are accurate and precise and thus reflect an actual value of your profits, losses, incomes, and expenses. It's almost impossible for any business to survive the corporate - [What bookkeeping services does Master Plan Tax services offer?](https://masterplantaxes.com/2022/11/20/what-bookkeeping-services-does-master-plan-tax-services-offer/) - When it comes to starting a small business, there is a seemingly endless lists of tasks to take care of regarding finances. It can seem like your major should have been in Finance, rather than Business Management. This is where you can employ the services of financial experts in order to assist with running your - [Investment Opportunities to Supplement Retirement Income](https://masterplantaxes.com/2022/11/14/investment-opportunities-to-supplement-retirement-income/) - Retirement planning is important to ensure that you have the financial security that you need in life after retirement. If you plan to retire in your 60s, you will need your savings to last almost 30 years after you retire. Social Security benefits will replace only 40 percent of your income that you lose when - [Investment Advice: The Sooner You Start, The Better](https://masterplantaxes.com/2022/10/24/investment-advice-the-sooner-you-start-the-better/) - Almost all of us have heard investment advice from someone who thinks they have the best advice despite not being an expert in the subject. The truth is that investment advice should not be given or taken lightly because there is no one right answer. If you’re looking to make investments, you will want to - [What if I missed the tax deadline and did not file an extension?](https://masterplantaxes.com/2022/10/12/what-if-i-missed-the-tax-deadline-and-did-not-file-an-extension/) - Life gets busy and a person can easily overlook his or her taxes, especially if it slips the mind and tax day passes. Due to this, you could forget to file your taxes and you don't know what to do in this situation. If this has happened to you, then you should read through this - [Types of Small Business Payroll Taxes](https://masterplantaxes.com/2022/09/21/types-of-small-business-payroll-taxes/) - When a small business begins to hire employees, it is a significant milestone for that business owner. With that comes challenges like payroll taxes and business owners may find themselves needing help from a payroll service provider with their accounting needs. Payroll taxes are a common area where growing businesses begin to get confused. Federal - [If You Filed a Tax Extension, Your Deadline is Coming](https://masterplantaxes.com/2022/09/12/if-you-filed-a-tax-extension-your-deadline-is-coming/) - Taxes were due to be filed on April 18th, 2022, but if you filed an extension, your deadline is right around the corner. For those that filed for an extension, the deadline to file your taxes is October 17th. If you miss this deadline and owe taxes, you will incur late penalties, as well as - [Is an Enrolled Agent Qualified to Represent Me with the IRS?](https://masterplantaxes.com/2022/08/23/is-an-enrolled-agent-qualified-to-represent-me-with-the-irs/) - When dealing with the IRS and levies on your assets, it is recommended that you get representation to deal with the IRS, rather than dealing with them yourself. A representative must meet a specific set of requirements and be listed as an enrolled agent to be able to represent you in front of the IRS. - [What Kind of Representation Can Master Plan Tax Solutions Offer with the IRS?](https://masterplantaxes.com/2022/08/15/what-kind-of-representation-can-master-plan-tax-solutions-offer-with-the-irs/) - Working with the Internal Revenue Service can be a daunting time if you don’t have the right people representing you. If you’re looking for IRS representation in Flower Mound, Texas, Master Plan Tax Solutions may be the professional team that you’ve been trying to find. Our enrolled agent, Jeremy Andries, is qualified to represent you - [Can the IRS Really Seize Your Assets?](https://masterplantaxes.com/2022/07/25/can-the-irs-really-seize-your-assets/) - Unfortunately, the IRS can seize your assets if you do not pay your taxes. There are only a few types of assets that cannot be seized. The IRS cannot seize real property, and your car cannot be seized if used to get to and from work. You also cannot seize the money you need for - [What is IRS Audit Representation, and Why Do You Need it?](https://masterplantaxes.com/2022/07/12/what-is-irs-audit-representation-and-why-do-you-need-it/) - You've been audited by the IRS. You must be dreaming. But you're not. You're holding that letter from the Internal Revenue Service telling you that the agency wants to review your business or personal tax filings. The letter's stern tone makes it clear that it's an invitation you can't turn down. Sure, it sounds - [What is a Strategic Business Plan?](https://masterplantaxes.com/2022/06/22/what-is-a-strategic-business-plan/) - A strategic business plan is a systematic process to develop an organization's direction. The plan also articulates the actions and objectives needed to attain the vision and outlines metrics to measure success. Strategic planning helps entrepreneurs refocus on their foundational purpose, development, goals, and opportunities. A strategic business plan is a foundation upon which business - [What is Comprehensive Financial Planning?](https://masterplantaxes.com/2022/06/13/what-is-comprehensive-financial-planning-3/) - Most people understand that financial planning is important, but they may not know what it entails. Comprehensive financial planning goes beyond simply putting money aside for the future. It involves evaluating your entire financial situation and developing a plan that meets your specific goals. This can include saving for retirement, reducing debt, and creating a - [Did the IRS Send You an Audit Letter?](https://masterplantaxes.com/2022/05/23/did-the-irs-send-you-an-audit-letter/) - For most people dealing with the IRS, it is not a problem, but for many others, it is a difficult and challenging process. One of the most dreaded pieces of mail to arrive in your mailbox is a letter from the IRS informing you of an upcoming tax audit. Suddenly, your life is turned upside - [What is Comprehensive Financial Planning?](https://masterplantaxes.com/2022/05/11/what-is-comprehensive-financial-planning-2/) - Comprehensive financial planning is a must-have skill for anyone who wants to achieve financial freedom. However, even the most successful people need help from time to time. That's why having a plan for your future is so important. Financial planning is more than just thinking ahead and saving money; it's about understanding your current financial - [What is the Failure to Pay Penalty?](https://masterplantaxes.com/2022/04/25/what-is-the-failure-to-pay-penalty/) - The “Failure to Pay” penalty is a punitive fine levied by the Internal Revenue Service for not paying the tax that you stated you owe on your return. The penalty the IRS charges is based on a percentage of the money you owe. However, the penalty will not exceed 25 percent of the total unpaid - [What is IRS Representation?](https://masterplantaxes.com/2022/04/13/what-is-irs-representation/) - One of the most dreaded things for a business owner is receiving an audit letter from the Internal Revenue Service (IRS). Such a letter could bring your business to a halt because of confusion, panic, and financial consequences that might follow. This is true if your company has not adhered to tax laws and other - [Time is running out do you need to file an extension?](https://masterplantaxes.com/2022/03/23/time-is-ruing-out-do-you-need-to-file-an-extension/) - There is no need to panic if you miss the deadline to file your taxes. You can fill out a free form 4868 and file for an extension. If you file for an extension, then you have until October 15 to file your taxes. Keep in mind that filing an extension does not absolve you - [What Makes a Good Tax Preparer?](https://masterplantaxes.com/2022/03/14/what-makes-a-good-tax-preparer/) - As tax season closes in, you can’t put off searching for a tax specialist, however, you can’t choose the first tax preparer that you come across. Locating a tax professional is rather easy, but picking the right one for you may be more challenging. When looking for a tax preparer, there’s some important characteristics to - [How Is Taxable Income Determined?](https://masterplantaxes.com/2022/02/22/how-is-taxable-income-determined/) - A majority of people in the U.S. have various forms of income such as, wages through a job, investment returns, business income, Social Security benefits, and more. There is both taxable and non-taxable income, which can make it hard to determine how much taxable income you really earned. By determining how much taxable income you - [Do I Really Need IRS Audit Representation?](https://masterplantaxes.com/2022/02/14/do-i-really-need-irs-audit-representation/) - The Need for IRS Audit Representation All too often businesses and individuals are frightened by the word "audit" as it relates to taxes and the IRS. The best way to approach an IRS audit is to seek the services of an experienced tax professional whose services include IRS audits. Why Does the IRS Request an - [What are the different types of business taxes?](https://masterplantaxes.com/2022/01/24/what-are-the-different-types-of-business-taxes/) - Business taxes refer to taxes paid to a government by business entities, such as corporations. There are many different types of business taxes, and they cover many other areas of the economy. Taxes include a wide range of fees that businesses pay to the government to remain competitive in a particular market. Some taxes include - [How is taxable income is determined?](https://masterplantaxes.com/2022/01/12/how-is-taxable-income-is-determined/) - Would you like to know how taxable income is determined? If you're reading this article, then chances are that you're about to begin the process of filing your taxes. We won't dwell too long on how difficult it can be to do sometimes but instead, I'll try to explain how you can determine what amount - [What is wealth potential?](https://masterplantaxes.com/2021/12/13/what-is-wealth-potential/) - [et_pb_section admin_label=”section”] [et_pb_row admin_label=”row”] [et_pb_column type=”4_4″] [et_pb_text admin_label=”Text”] What is your ultimate goal? Do you want to just be average and live a “normal” life, or do you want to be wealthy beyond measure? The choice should be easy: wealth potential. It’s the only way to make sure that you can afford everything and anything - [How do you plan for retirement?](https://masterplantaxes.com/2021/12/21/how-do-you-plan-for-retirement/) - It's good that you have had a fulfilling career, and you should now plan for the next step. It involves preparing for your retirement, which involves a well-calculated plan. You have to consider all the available avenues to ensure the best results. However, this process can be challenging for most people because it involves many - [Tax efficiency in your investing and retirement planning](https://masterplantaxes.com/2021/11/22/tax-efficiency-in-your-investing-and-retirement-planning/) - You may have heard the saying, “It’s not always how much you earn—it’s about how much you keep!” If you’re retired or you plan to retire in the future, you may have questions about tax efficiency in your investing and retirement planning. If you have assets in individual retirement accounts (IRAs), 401k plans, and taxable - [What is Comprehensive Financial Planning?](https://masterplantaxes.com/2021/11/15/what-is-comprehensive-financial-planning/) - Comprehensive financial planning involves a detailed view of your financial situation. It is the act of planning and addressing your economic events. To determine your actual financial condition, a financial planner does a comprehensive analysis. Comprehensive financial planning addresses investment management, estate planning, and retirement planning. It also addresses potential economic events that may alter - [What Is A Certified Financial Planner?](https://masterplantaxes.com/2021/10/25/what-is-a-certified-financial-planner/) - When you are eager to develop a financial plan that will carry you through the years with peace of mind, it is vital you place your trust in a professional who has the training, experience, and knowledge needed to help you make the best decisions. In many cases, this means working with a Certified Financial - [Has your business grown and it’s time for a bookkeeper?](https://masterplantaxes.com/2021/10/13/has-your-business-grown-and-its-time-for-a-bookkeeper/) - A lot of business owners cannot keep up with all the financial aspects of their company. This can be very stressful and difficult for them, which is why many are turning to a bookkeeper. A bookkeeper will help you maintain your books on time, track your expenses, and offer advice on making better budgeting decisions - [What is an Enrolled Agent?](https://masterplantaxes.com/2021/09/23/what-is-an-enrolled-agent-2/) - An Enrolled Agent Can Represent You with the IRS Like No Other Tax Professional Few things can strike fear in the heart of the average American like a letter from the IRS. That sense of unease and consternation is greatly magnified if the opening sentence of the letter reads: “We have selected your Texas and - [In Case of Audit Call Master Plan Tax Services!](https://masterplantaxes.com/2021/09/14/in-case-of-audit-call-master-plan-tax-services/) - An audit letter from the IRS is certainly the last thing you want to deal with. It can be frightening and confusing, but you don't have to go it alone. The professionals at Master Plan Tax Services in Flower Mound, TX can assist you with IRS Representation Service. You have the right to choose an - [How can a Payroll Service help a small business?](https://masterplantaxes.com/2021/08/11/how-can-a-payroll-service-help-a-small-business/) - The Benefits Of Payroll Services For Small Businesses A payroll service can help small businesses by streamlining their business function through automation. These services can add value to your business by being integrated through all your business functions. Some basic functions include: 1.Process payroll, calculate and file payroll taxes and generate payroll tax statements 2.File - [Common bookkeeping mistakes](https://masterplantaxes.com/2021/07/21/common-bookkeeping-mistakes/) - As a business owner, bookkeeping is one of the necessary evils that you must experience regularly. It's often a tedious task that requires lots of time for you to achieve the best results. Failing to perform financial accounting at the right time can lead to various issues such as irregular finances and compromised business goals. - [What Is a Tax Projection?](https://masterplantaxes.com/2021/07/12/what-is-a-tax-projection-2/) - Similar to a financial plan, a tax projection is a financial tool that helps you know how the future may look like depending on some already set assumptions. Usually, tax projection involves using your previous year's deduction and income information to predict future taxes. It also consists of adjusting the current year's details such as - [Did you file for an extension?](https://masterplantaxes.com/2021/06/23/did-you-file-for-an-extension/) - The Tax deadline has passed - did you file for an extension? Taxes are a burden, one that Master Plan Taxes wants to take from you. As tax day comes and goes, you can depend on Master Plan for the best Tax Preparation Services Flower Mound, TX - we'll help you file - and in - [June 15 is Tomorrow](https://masterplantaxes.com/2021/06/14/june-15-is-tomorrow/) - Reminder: June 15 is Tomorrow You probably think of April 15 as tax day, but it hasn't been for the last two years. Due to the COVID-19 pandemic, the IRS has extended the tax filing deadline for the past two years. In 2020, it was moved to June 15, and this year, the filing deadline - [Do You Need Internal Accounting Controls?](https://masterplantaxes.com/2021/05/24/do-you-need-internal-accounting-controls/) - How to Keep Risk at Bay With Internal Accounting Controls Internal accounting controls make sure that your business is tax compliance, that you have reliable financial records, and even allow you to find out if an employee is stealing from you, as well that's protecting your company from fraud. Failure to keep your accounting records - [Filing Taxes For 2020?](https://masterplantaxes.com/2021/05/12/filing-taxes-for-2020/) - Due to the Texas winter storms of February 2021, the Internal Revenue Service (IRS) has extended the 2020 income tax filing and payment deadline to June 21st, 2021. This means that if you haven’t yet contacted any tax service experts in Flower Mound TX, now is the time to do so. But before you reach - [What is the Texas Tax relief?](https://masterplantaxes.com/2021/04/22/what-is-the-texas-tax-relief/) - Many people are victims of the Texas winter storms of February 2021. The Internal Revenue Service (IRS) has announced storm victims will have until June 21st, 2021 to file different types of tax returns. These are tax payments, business tax returns, individual tax returns, and more. Master Plan Tax Services here in Flower Mound TX - [Let the Experts Help You Navigate the Tax Laws This Tax Season!](https://masterplantaxes.com/2021/04/13/let-the-experts-help-you-navigate-the-tax-laws-this-tax-season/) - In Flower Mound TX there is a group of tax experts who offer services that will guide you through the maze of complexities that is our federal tax system. These are the experts at Master Plan Tax Services (MPTS). The tax laws change every year and 2020 was not any different. The following is just - [Don’t Wait Until the Last Day to File Your Taxes](https://masterplantaxes.com/2021/03/24/dont-wait-until-the-last-day-to-file-your-taxes/) - One of the best ways to avoid the burden of taxes is to file your returns early. The sooner you complete your financial return, the sooner you will be out of the financial burden of taxes. This is an important consideration for two reasons. First, if you do not file your return on time, the - [Is the PPP still available for small businesses?](https://masterplantaxes.com/2021/03/10/is-the-ppp-still-available-for-small-businesses/) - The paycheck protection program (PPP) is an SBA- supported loan that came into aid after the COVID 19 pandemic. The program has been helping small businesses retain their workforce. During their previous phase, the last loan disbursed attracted millions of businesses struggling in the wake of the COVID 19 pandemic. The program provides up to - [Texas Has Thawed Out and Its Still Tax Time!](https://masterplantaxes.com/2021/02/22/texas-has-thawed-and-its-still-tax-time/) - It's tax time … Call Master Plan Tax services today! Yep, it’s that time of year again. It’s in our wonderful town of Flower Mound, TX. It’s across the entire country. As sure as the sun will come up tomorrow, tax time rolls around every year. But at least with the sunrise, you kind of - [What Tax Services does Master Tax services offer?](https://masterplantaxes.com/2021/02/18/what-tax-services-does-master-tax-services-offer/) - Most people would tell you that there are four seasons in a year. Arguably, there are five seasons. Tax season. When you are first starting out, taxes can be a bit scary. Regardless of whether you choose to file taxes alone, or have someone file taxes for you, there are a few things you should - [It's Tax Season Again. Are You Ready?](https://masterplantaxes.com/2021/01/12/its-tax-season-again-are-you-ready/) - It is officially tax season in Flower Mound TX as well as nationwide. For many, tax season is a whimsical time due to the large sum of money they may be receiving, but for others not so much. Either way, before you head to your preferred tax preparer for tax services, it is important to - [What is an Accounting Strategy?](https://masterplantaxes.com/2020/12/22/what-is-an-accounting-strategy/) - 3 Reasons to Make an Accounting Strategy Right Now Having the right accounting strategy is crucial if you want to sleep with financial peace of mind. No one should stay up all night worrying about how they will pay their rent or what will happen if they lose their job. With the right accounting strategy, - [What is a tax projection?](https://masterplantaxes.com/2020/12/14/what-is-a-tax-projection/) - People who invest in tax planning are twice as likely to have better financial outcomes than those who do not. There are qualified professionals who specialize in making predictions that could lead to significant savings in your account. Learn how a tax projection helps an individual or company make better financial decisions. Make Better Charitable - [What are the most common bookkeeping mistakes?](https://masterplantaxes.com/2020/11/24/what-are-the-most-common-bookkeeping-mistakes/) - Especially in a small business or a startup, you, as the owner, may not have any idea how to cope with bookkeeping. You know that it is crucial to record all the income and expenses properly but cannot afford to have a regular staff to take care of those details. That is when Master Plan - [What can a bookkeeper do that I cant?](https://masterplantaxes.com/2020/11/11/what-can-a-bookkeeper-do-that-i-cant/) - In the age of 'Do It Yourself,' you might be tempted to try to do every business function. Though you can learn some of the business functions that you have to deal with, the time required to do each can be too much. As an entrepreneur, you must be accustomed to wearing different hats. Maybe - [why would I need IRS Representation?](https://masterplantaxes.com/2019/02/25/why-would-i-need-irs-representation/) - Master Plan Tax & Bookkeeping Takes Great Pride In Providing Top-Rated IRS Representation Services: At Master Plan Tax & Bookkeeping we have a vision statement that guides everything that we do. This vision focuses on liberating our clients from the burdens imposed by bookkeeping and payroll as well as taxation. Our goal is to - [The SECURE Act Passed in December, 2019!](https://masterplantaxes.com/2020/02/24/the-secure-act-passed-in-december-2019/) - How will the passage of The SECURE Act impact your tax situation? On December 20, 2019, President Donald Trump signed this landmark piece of legislation into law. Passed with bipartisan support, the "Setting Every Community Up for Retirement Enhancement Act" (also called "The Secure Act") creates new incentives for employees to save money towards retirement. - [What payroll services does Master Plan Tax Services offer?](https://masterplantaxes.com/2020/10/12/what-payroll-services-does-master-plan-tax-services-offer/) - Master Plan Tax Services is one of the most professional and trusted names in tax preparation. You can trust Master Plan Tax Services with any and all of your financial needs, including but not limited to, tax preparation and payroll Located in Flower Mound TX the company is the premier resource in the region for - [What is a Payroll Service?](https://masterplantaxes.com/2020/09/21/what-is-a-payroll-service-2/) - How Can a Payroll Service Benefit Your Business? Processing payroll is a time-consuming and necessary task that business owners need to do on a weekly or bi-weekly basis. One tiny mistake can set a business owner back and may cause hours of unnecessary stress trying to locate the error and bring the books back into - [What is the Payroll Tax “Holiday”?](https://masterplantaxes.com/2020/09/14/what-is-the-payroll-tax-holiday/) - As part of the economic relief efforts targeted towards helping people recover from the ongoing COVID-19 outbreak, the President recently issued an executive order declaring a Payroll Tax "Holiday." However, it's not a true Holiday - yes, you may see more money in your paycheck, but you will have to pay that money back. Here's - [4 Executive Orders](https://masterplantaxes.com/2020/08/12/4-executive-orders/) - On Saturday the President signed executive orders that we'll outline below with commentary: Federal Unemployment Continuation - the previous Covid unemployment up to $600/week enacted earlier by Congress terminated on 7/31. This new extension order allows for up to $400/week but it requests that the states supply $100/week of it ($300 by fed and $100 by - [Tax deadline of July 15 is approaching](https://masterplantaxes.com/2020/06/22/tax-deadline-of-july-15-is-approaching/) - Amid the coronavirus pandemic affecting the nation, the United States government extended the tax filing deadline for 2020 to July 15, instead of the usual April 15. Many people have benefited from this new deadline, but, even with the extension, it's approaching quickly. As such, if you're in need of professional tax services in the - [The Importance of Bookkeeping](https://masterplantaxes.com/2020/06/15/the-importance-of-bookkeeping/) - Successful institutions record all its transactions for future use. The process of recording all financial transactions by various companies perfectly describe bookkeeping. Keeping track of all your company capital information will be crucial to your decision making with regards to future financial investments. This process is made possible by many people in a team of - [What is the Employee Retention Tax Credit?](https://masterplantaxes.com/2020/05/20/what-is-the-employee-retention-tax-credit/) - In response to the coronavirus pandemic, the Federal government has put in place many policies to encourage employers to keep employees on the payroll while the employer may have reduced revenue. This reduction in revenue may have been caused by a decrease in the number of customers (for example, restaurants), or it may be because - [What is the Paycheck Protection Program?](https://masterplantaxes.com/2020/05/12/what-is-the-paycheck-protection-program/) - The PPP also known as the Paycheck Protection Program is a loan from the Small Business Administration also known as SBA, which assist small businesses in keeping workers employed during the COVID-19 virus. This ensures that workers will stay on the payroll and will continue to receive paychecks during the lock down. The SBA will - [Don’t wait to do your taxes!](https://masterplantaxes.com/2020/04/20/dont-wait-until-the-last-min-to-do-your-taxes/) - Why you Should Avoid Filing Your Taxes Late in Flower Mound TX Finishing your taxes may feel like the financial equivalent of extracting teeth, but many reasons exist as to why you should not wait until the last second to file taxes in Flower Mound, TX. Finding out you do not have all the paperwork - [OUR NEW NORMAL](https://masterplantaxes.com/2020/03/23/our-new-normal/) - Hi all, I’m sure you’ve gotten a hundred emails of this sort recently. We are all working to find balance in our new daily routines and remain as productive as possible. I want to take time to discuss a few things that have changed in light of recent events: First, the IRS is allowing an - [Are You 70 1/2 or Older?](https://masterplantaxes.com/2020/03/11/are-you-70-1-2-or-older/) - The age of 70 1/2 brings many pleasantries to mind. These may include retirement, travel, financial security and more. This is also a very important age financially speaking. You will be required to begin taking distributions from retirement accounts and may also be receiving social security and Medicare or Medicaid benefits. With many new - [Is it Better to Owe Taxes in April Than to Get a Refund?](https://masterplantaxes.com/2020/02/12/is-it-better-to-owe-taxes-in-april-than-to-get-a-refund/) - We often feel gratified after receiving a tax refund check. It can feel like a Christmas or birthday present. While it may feel like an exciting new gift, it certainly isn't in reality. You paid the government that money when you did not owe it to them. It can be described as granting a loan - [Tax season is here, gather your documents!](https://masterplantaxes.com/2020/01/13/tax-season-is-here-gather-your-documents/) - Tax season has come yet again. To make everything go smoothly, you will first need to gather all of your necessary documentation so you are prepared when you come in to your Flower Mound TX tax services. Starting with all of your documents reduces delays so you can get your taxes filed sooner. Here are - [Tax season is coming let us help with your Business Income Tax?](https://masterplantaxes.com/2019/12/23/tax-season-is-coming-let-us-help-with-your-business-income-tax/) - TAX PREPARATION SERVICES The upcoming tax season is approaching and many taxpayers are looking to file their tax returns in the near future. While this may seem like an overwhelming task, our firm in Flower Mound TX is able to help business owners and self employed taxpayers complete their tax returns with ease. With our - [Tax Season is Coming - Let Us Help With Your Individual Income Tax](https://masterplantaxes.com/2019/12/12/tax-season-is-coming-let-us-help-with-your-individual-income-tax/) - Many people dread when tax season comes. Some hate having to spend time doing their taxes, while others hate having to pay a professional. The worst ones think they can avoid the problem by not doing their taxes altogether. But the best option is to pay a professional, and the small, once-a-year investment is worth - [10 Year End Moves to Lower Your 2019 Tax Bill](https://masterplantaxes.com/2019/11/21/10-year-end-moves-to-lower-your-2019-tax-bill/) - Time is running out! Do you want a lower tax bill for 2019? Here are steps you can take in Flower Mound TX to lower your tax liability before the year is over. 1. Check Your Withholding By taking advantage of online tax withholding calculators, you can determine what taxes may be able to be - [What Does A Bookkeeping Service Do?](https://masterplantaxes.com/2019/11/11/what-does-a-bookkeeping-service-do/) - Running a business nowadays can be a real chore. You want to garner new clients, boost sales, and expand your service and product line. Yet, instead of running your business, you find yourself bogged down in endless paperwork. Paying invoices, filling out forms, and preparing taxes can take a toll, leaving you frustrated. If you - [What Is a Better Business Decision?](https://masterplantaxes.com/2019/10/23/what-is-a-better-business-decision/) - Making good business decisions comes from showing good judgment. As an entrepreneur, you must show that you have everything under control. You need to make multiple decisions on your own, daily if you are the only owner of the business. The easy decision is about how much help to hire to do your outside bookkeeping, - [Do you really understand your bookkeeping?](https://masterplantaxes.com/2019/09/24/do-you-really-understand-your-bookkeeping/) - The Four Things You Need To Know Regarding Your Bookkeeping Services Flower Mound TX Inquiry You may have hired a payroll specialist fresh out of college. That person, however, could be making mistakes that cost the company time and money. That is why you need some help understanding some of the basics. 1) The cash - [Is doing yourself payroll a waste of time and money?](https://masterplantaxes.com/2019/09/12/is-doing-yourself-payroll-a-waste-of-time-and-money/) - The Five Reasons Why A Professional Payroll Flower Mound Tx Associate Is More Qualified To Handle Your Finances You could be throwing money out of the window and not know it. Why would you trust yourself enough to do your business or personal payroll instead of letting a professional do it for you? Your business - [Are your books weighing you down?](https://masterplantaxes.com/2019/08/21/are-your-books-weighing-you-down/) - Bookkeeping can be a fickle business. The books will either carry you through or weigh you down. Which one are you right now? There are a lot of bookkeeping services on the market right now. Sometimes it is hard to know which direction to take. That is why Master Plan Tax Services is here to - [Why should you outsource your payroll?](https://masterplantaxes.com/2019/08/12/why-should-you-outsource-your-payroll/) - It is thrilling to watch your small business grow to the point where you need to start hiring employees. However, new employees mean new payroll and tax considerations. Keeping up with the ever-growing and ever-changing tax laws and regulations is a daunting task. Failure to comply with employee-related tax laws may mean that your business - [What is Strategic Business Planning?](https://masterplantaxes.com/2019/07/22/what-is-strategic-business-planning/) - Successful businesses think strategically. In other words, those that create a written declaration of their mission, values, and goals have an advantage over those that don’t. Without a strategic plan, your business can lack direction and misuse its limited resources. With a strategic plan, your entire team will know what they’re trying to achieve and - [What is a Payroll Service?](https://masterplantaxes.com/2019/06/25/what-is-a-payroll-service/) - As competition for the best employees intensifies, employers must find ways to offer competitive compensation packages while simultaneously controlling expenses. However, business owners and managers often lack the necessary experience and expertise. So, rather than taking risks and wasting time and money on managing their payroll, many firms outsource the job to professionals. Your payroll - [What is a bookkeeper?](https://masterplantaxes.com/2019/06/12/what-is-a-bookkeeper/) - What Do Bookkeepers Do? The Role of a Bookkeeper Bookkeepers maintain accurate records of income and expenditures for your business or organization. They do this by keeping receipts and itemizing expenses that they label; they record who has been paid and how much was paid. Also, bookkeepers keep track of incoming payments and often issue - [Save Time and Money on Your Books](https://masterplantaxes.com/2019/05/14/save-time-and-money-on-your-books/) - Regardless of whether your business is in its early stages or if you've been in business for some time, a bookkeeper plays a crucial part in keeping your business's finances running smoothly. Not only that, having a bookkeeper saves you valuable time so that you can focus on other key aspects of your business. As - [April 15th is here!](https://masterplantaxes.com/2019/04/15/april-15th-is-here/) - Your Tax Preparation Needs Are In Good Hands With Master Plan Tax & Bookkeeping: Master Plan Tax & Bookkeeping Helps To Take Away The Stress Of The April 15th Tax Deadline April 15th is here and with this well-known date comes the deadline for filing your income tax returns with the Internal Revenue Service. This - [Hello world!](https://masterplantaxes.com/2019/02/28/hello-world/) - Welcome to WordPress. This is your first post. Edit or delete it, then start writing! - [What is an Enrolled Agent?](https://masterplantaxes.com/2019/02/15/what-is-an-enrolled-agent/) - An Enrolled Agent is authorized by the federal government to represent individuals, businesses, corporations, estates, trusts and organizations before the IRS. Though not every taxpayer needs an EA, this well-trained tax professional can help when you face a difficult tax situation. The process of becoming an Enrolled Agent is rigorous. Before an individual can add - [How can a Payroll Services help me?](https://masterplantaxes.com/2019/01/22/how-can-a-payroll-services-help-me/) - Processing payroll can be a time-consuming, tedious and complicated task for small businesses. Doing payroll every week includes determining employees pay and withholding the appropriate taxes. Some business owners utilize a payroll company such as, Payroll Services Flower Mound TX, to process their payroll. There are many benefits for having a payroll company handle weekly - [How to select a Tax Preparer](https://masterplantaxes.com/2018/12/21/how-to-select-a-tax-preparer/) - Every January, many proactive Americans choose a tax preparer to help file a tax return. As always, remember to should choose their tax return preparer wisely. This is because YOU, the taxpayer, is responsible for all the information on their income tax return, no matter who prepares the return. Here are ten tips for taxpayers ## Pages - [Home](https://masterplantaxes.com/) - [et_pb_section fb_built=”1″ fullwidth=”on” _builder_version=”4.17.4″ _module_preset=”default” background_color=”RGBA(255,255,255,0)” custom_padding=”0px||0px||false|false” background_last_edited=”on|phone” global_colors_info=”{}”][et_pb_fullwidth_slider use_bg_overlay=”on” bg_overlay_color=”rgba(0,0,0,0.61)” _builder_version=”4.17.4″ _module_preset=”default” background_color=”RGBA(255,255,255,0)” custom_margin=”||-2px|||” custom_padding=”409px||161px|||” auto=”on” global_colors_info=”{}”][et_pb_slide _builder_version=”4.17.4″ _module_preset=”default” background_image=”http://masterplantaxes.com/wp-content/uploads/2022/07/slide2.png” background_enable_image=”on” global_colors_info=”{}” sticky_transition=”on”][/et_pb_slide][et_pb_slide _builder_version=”4.17.4″ _module_preset=”default” background_color=”RGBA(255,255,255,0)” background_enable_color=”on” background_image=”http://masterplantaxes.com/wp-content/uploads/2022/07/slide1-1.png” background_enable_image=”on” global_colors_info=”{}” sticky_transition=”on”][/et_pb_slide][et_pb_slide _builder_version=”4.17.4″ _module_preset=”default” background_image=”http://masterplantaxes.com/wp-content/uploads/2022/07/slide3.png” background_enable_image=”on” global_colors_info=”{}” sticky_transition=”on”][/et_pb_slide][/et_pb_fullwidth_slider][/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.17.4″ _module_preset=”default” background_color=”RGBA(255,255,255,0)” custom_margin=”-553px||||false|false” custom_padding=”59px||0px|||” global_colors_info=”{}”][et_pb_row column_structure=”1_2,1_2″ _builder_version=”4.17.4″ background_color=”RGBA(255,255,255,0)” background_size=”initial” background_position=”top_left” background_repeat=”repeat” custom_padding=”0|0px|55px|0px|false|false” global_colors_info=”{}”][et_pb_column type=”1_2″ _builder_version=”4.16″ - [Our People](https://masterplantaxes.com/ourpeople/) - Jeremy Andries | EA | CFP® | MSA Managing Member | Partner Jeremy enjoys assisting businesses and individuals with their finances in minimizing costs and maximizing net savings in an efficient and effective manner. Jeremy attained a Bachelor of Business Administration degree from the University of Louisiana in Monroe and a Master’s of Science degree - [Tax Prep Fees](https://masterplantaxes.com/taxprepfees/) - FEE ESTIMATES Common Individual Fees For our individual fees please scroll down to use the pricing form below and we'll email you with our estimate right away; you may have to check your spam/junk folders for the email reply. For Common Business and Organization Profiles & Fee Ranges, see section below the calculator Please schedule - [Business Income Tax](https://masterplantaxes.com/business-income-tax/) - Many business owners ask us, "Should I convert by small business to an S-Corp"? ... https://youtu.be/VWt95upt4xc - [Contact Us](https://masterplantaxes.com/contactus/) - Call us at 682.444.PLAN (7526). If you'd prefer to schedule a contact, please go to our Schedule Contact page. •Phone/Text: 682.444.PLAN (7526) •Fax: 844.497.1040 •Email: Info@MasterPlanTaxes.com •Address: 1011 Surrey Ln Bldg 200 Ste 28, Flower Mound TX 75022 (inside Surrey Ranch Exec. Suites near the Rembert Dr side) - [IRS Representation](https://masterplantaxes.com/irs-representation/) - The IRS issues the Enrolled Agent designation and the IRS website says, "An enrolled agent is a person who has earned the privilege of representing taxpayers before the Internal Revenue Service by either passing a three-part comprehensive IRS test covering individual and business tax returns, or through experience as a former IRS employee. Enrolled agent - [Ministers Taxes](https://masterplantaxes.com/minister/) - Here we'll provide info related to the complex tax issues that ministers and clergy must navigate such as housing allowance, SECA tax, opting out of SECA and the Deason rule for ministerial tax deductions to name a few. https://youtu.be/wiHHPoEa8UM Please let us know if we can help you by scheduling a complimentary call by clicking - [Tax File Preparation](https://masterplantaxes.com/taxfilepreparation/) - We can assist you by preparing your federal and state individual, business and organization federal tax files efficiently and cost-effectively. TAX FILE PREPARATION STEPS 1. Contact Us Email us, call (682) 444-7526 or schedule a convenient, complimentary, fact-finding intro call or appointment. 2. Complete Paperwork Please review our Welcome Letter for more information on our - [Services](https://masterplantaxes.com/services/) - [et_pb_section fb_built=”1″ _builder_version=”4.16″ global_colors_info=”{}”][et_pb_row column_structure=”1_3,1_3,1_3″ module_class=” et_pb_row_fullwidth” _builder_version=”4.16″ background_color=”rgba(30,30,30,0.63)” width=”89%” width_tablet=”80%” width_phone=”80%” width_last_edited=”on|desktop” max_width=”89%” max_width_tablet=”80%” max_width_phone=”80%” max_width_last_edited=”on|desktop” module_alignment=”center” custom_padding=”5px|5px|5px|5px” make_fullwidth=”on” global_colors_info=”{}”][et_pb_column type=”1_3″ _builder_version=”4.16″ custom_padding=”5px|5px|5px|5px” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_blurb title=”Tax File Preparation Services” url=”/taxfilepreparation” image=”http://masterplantaxes.com/wp-content/uploads/2018/04/photodune-8478174-smiling-young-couple-in-meeting-with-a-financial-adviser-at-home-xxl.jpg” admin_label=”Tax File Preparation Services” _builder_version=”4.16″ header_text_align=”center” text_orientation=”center” background_layout=”dark” header_text_shadow_style=”preset2″ text_shadow_style=”preset2″ global_colors_info=”{}”]We prepare individuals, families, business and organization federal and state tax filings.[/et_pb_blurb][/et_pb_column][et_pb_column type=”1_3″ - [Bookkeeping and Payroll](https://masterplantaxes.com/bookkeepingandpayroll/) - Master Plan Bookkeeping (an entity separate from Master Plan Tax Solutions) can help you with bookkeeping, payroll and business services. Contact them at Master Plan Bookkeeping. - [Employee Retention Tax Credit](https://masterplantaxes.com/ertc/) - Did you pay your employees during the Covid-19 pandemic, specifically between March of 2020 and September of 2021 AND your business either had a significant decline in revenues OR a full or partial suspension of operations due to government orders or restrictions? Or maybe you officially started your business after February 2020? If so, you - [Schedule Contact](https://masterplantaxes.com/schedulecontact/) - Schedule appointment here: - [Bookkeeping/Payroll Fees](https://masterplantaxes.com/bookkeepingpayrollfees/) - Please schedule an appointment to discuss your needs. FEE SCHEDULE If we've completed your bookkeeping or payroll and would like to pay outside of QBO, please use the button below: Pay Here - [Who We Are](https://masterplantaxes.com/whoweare/) - VISION To liberate you of the burdens of taxation, bookkeeping, payroll and representation and to empower you to focus on what you love. Our focus is to stay well-informed in learning, up to date in compliance and to build a team of trusted professionals. MISSION To steward and shepherd our Master's resources and talents. VALUES - [Financial Planning/Investment Advice](https://masterplantaxes.com/finplan/) - Comprehensive Financial Planning Comprehensive Financial Planning is the process of helping you steward your finances well through independent financial advice and planning steps such as helping you understand how you relate to your money, assess and grow wealth building traits along with a Lifetime Projection of your cash flow and net worth, interactive "What if" - [Suggestions](https://masterplantaxes.com/suggestions/) - Loading… - [What is an EA? How is it different from a CPA?](https://masterplantaxes.com/ea/) - An Enrolled Agent is a designation issued by the IRS and is authorized by the federal government to represent individuals, businesses, corporations, estates, trusts and organizations before the IRS. Though not every taxpayer needs an EA, this well-trained tax professional can help when you face a difficult tax situation. The process of becoming an Enrolled - [Individual Income Tax](https://masterplantaxes.com/taxfilepreparation/individual-income-tax/) - [et_pb_section bb_built=”1″][et_pb_row][et_pb_column type=”4_4″][et_pb_text _builder_version=”3.10″]Individual Income Tax[/et_pb_text][et_pb_text _builder_version=”3.10″]As the exhausted saying goes, taxes are one of the only certainties in life. Next is an intro to a person’s income tax including how taxable income is determined and the legal requirement of most citizens to pay income taxes to both the federal and state government. Individual Income - [Representation Fees](https://masterplantaxes.com/representationfees/) - Please schedule an appointment to discuss your needs. FEE ESTIMATE SCHEDULE **These charges are for MPT's representation service(s); MPT cannot guarantee or warrant that your tax situation will be resolved to your satisfaction or to a $0 liability balance with the Service. If we've completed your tax return file, you can make your payment using - [Privacy Policy](https://masterplantaxes.com/privacypolicy/) - Who we are Our website address is: https://masterplantaxes.com. What personal data we collect and why we collect it What personal data we collect and why we collect it Website Data Collection When visitors visit this site we collect your data. A string created from your email address (also called a hash) may be collected and - [Privacy Policy](https://masterplantaxes.com/privacy-policy/) - Who we are Our website address is: https://masterplantaxes.com. What personal data we collect and why we collect it Website Data Collection When visitors visit this site we collect your data. A string created from your email address (also called a hash) may be collected and provided to the GetEmails.com service to gather your personal information. - [Payroll](https://masterplantaxes.com/payroll/) - [et_pb_section bb_built=”1″][et_pb_row][et_pb_column type=”4_4″][et_pb_text _builder_version=”3.10″]If your company has workers, you have payroll to do. With no way to avoid it, but what is payroll? Payroll can be described in a few different ways: Payroll refers to the employee or employees you pay, along with employee information. Payroll is also the amount you pay workers during each - [Newsletter Signup](https://masterplantaxes.com/newsletter-signup/) - [et_pb_section bb_built=”1″][et_pb_row][et_pb_column type=”4_4″][et_pb_text] Newsletter signup Email First Name Last name Please wait... Subscribe Thank you for sign up! [/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section] - [Los Impuestos](https://masterplantaxes.com/losimpuestos/) - Hablamos Español Podemos ayudarlo preparando sus archivos federales y estatales de impuestos federales, individuales y comerciales de manera eficiente y económica. PASOS DE PREPARACIÓN DE ARCHIVOS DE IMPUESTOS 1. Contáctanos Envíenos un correo electrónico, llame al (972) 978-8843 o programe una llamada de introducción o una cita de hallazgo conveniente. 2. Papeleo completo Descargue, imprima, - [IRS Representation](https://masterplantaxes.com/irs-representation-2/) - [et_pb_section fb_built=”1″ _builder_version=”3.0.47″][et_pb_row _builder_version=”3.0.48″ background_size=”initial” background_position=”top_left” background_repeat=”repeat”][et_pb_column type=”4_4″ _builder_version=”3.0.47″ parallax=”off” parallax_method=”on”][et_pb_text _builder_version=”3.10″]IRS Representation[/et_pb_text][et_pb_text _builder_version=”3.10″]There is nothing more daunting to a business owner and the management team than to get an IRS audit letter. It can set off a panic that either/or the company has done something wrong or that there will be additional money to - [En Español](https://masterplantaxes.com/espanol/) - [CARES_Video](https://masterplantaxes.com/cares_video/) - https://youtu.be/CTjO9qMuMcs - [Cares Act](https://masterplantaxes.com/cares-act/) - [Bookkeeping](https://masterplantaxes.com/bookkeeping/) - [et_pb_section bb_built=”1″][et_pb_row _builder_version=”3.10″][et_pb_column type=”4_4″][et_pb_text _builder_version=”3.10″]Why Is Bookkeeping So Important? Bookkeeping is essential for many types of companies whether the company is large or small. Currently we see this type of neglect by the owners of the company all to often. The companies neglect keeping any records of accounting activity. For this reason alone, companies often - [Agreements](https://masterplantaxes.com/agreements/) - Combined Engagement Letter, Intake Form and Privacy Policy New Employee Forms Form 8655 Employee Intake Form - [404 page](https://masterplantaxes.com/404-2/) - [Sample Page](https://masterplantaxes.com/sample-page/) - This is an example page. It's different from a blog post because it will stay in one place and will show up in your site navigation (in most themes). Most people start with an About page that introduces them to potential site visitors. It might say something like this: Hi there! I'm a bike messenger ## Categories - [Uncategorized](https://masterplantaxes.com/category/uncategorized/) - [Our Blog](https://masterplantaxes.com/category/our-blog/)