Taxes

• Tax Planning
  In addition to preparing tax returns, we emphasize tax planning to minimize current and future tax burdens. Whatever your needs, we will help you meet the large number of tax requirements affecting you and/or your organization. We are well qualified to assist with tax planning opportunities such as selecting the proper business organization, liquidations, reorganizations, sales of business, mergers, acquisitions, tax sheltered investments, pension-profit sharing plans, and other business related tax issues.
• Charitable Giving
• Estate Taxes
• Tax Services
  Miranda Mason, CPA, is the Director of Tax Services in the firm’s Effingham office and specializes in tax planning, preparation and advisory services for individuals, partnerships, corporations, trusts and estates. She grew up in Newton, Illinois. In December of 2006, Miranda graduated from the University of Illinois, Urbana-Champaign, with a Bachelor of Science in Accounting degree and, in 2007 was one of a select few to receive the University’s Bronze Tablet honor
• Roth IRA
  Under a favorable exception, when you’re the original account owner of a Roth IRA, you’re exempt from the RMD rules during your lifetime. But if you inherit a Roth IRA, the RMD rules for inherited IRAs come into play.
• Tax Deductions
  If you operate a business, or you’re starting a new one, you know records of income and expenses need to be kept. Specifically, you should carefully record expenses to claim all the tax deductions to which you’re entitled. And you want to make sure you can defend the amounts reported on your tax returns in case you’re ever audited by the IRS.
• Income Tax
  One reason might be tax law changes that raise tax rates. The Biden administration has proposed raising the corporate federal income tax rate from its current flat 21% to 28%. Another reason may be because you expect your noncorporate pass-through entity business to pay taxes at higher rates in the future and the pass-through income will be taxed on your personal return. There have also been discussions in Washington about raising individual federal income tax rates.
• Capital Gains Taxes
  If you own company stock in a retirement plan you may be able to take advantage of using the long term capital gains tax rate rather than your ordinary income tax rate on this investment.
• Tax Return Preparation
  West & Company, LLC, is pleased to offer SafeSend Organizers to our clients as our secure, electronic tax organizer system. The client-friendly interface will allow us to complete the tax return preparation and delivery process in a completely paperless and secure manner from start to finish.

Investment

• Mutual Funds
  This calculator can help you analyze the costs associated with buying shares in a mutual fund. By entering a few pieces of information, found in your fund's prospectus, you can see the impact of fees and operating expenses on your investment.
• Bonds

Accounting

• Accounting Services
  We have many experienced professional and paraprofessional staff in our bookkeeping and accounting department. We provide services to businesses of every size as well as to individuals.
• Payroll Services
  We can be your total solution for all of your accounting functions, or can provide a wide range of specialized services such as preparation of financial statements, reconciling of accounts, and payroll processing services.
• Bookkeeping Services

Planning

• Financial Planning
• Long Term Care
  Long term care is needed by those who can't perform the basic tasks required to take care of themselves. This calculator can help you determine if you are financially prepared for this impending expense.
• Reverse Mortgages
  This calculator is specifically designed to show you how the outstanding balance of a reverse mortgage can rapidly grow over a period of time.