Professional Tax Preparer Salt Lake City

With the availability of do it yourself tax software, many are left wondering if hiring a tax preparer or purchasing the software is the right option for them. Every situation is different and everyone's taxes are unique. Some may feel secure enough in their knowledge of taxes, deductions and numbers to use the software while others find the very idea of taxes daunting and overwhelming. However, there are a few factors that can complicate taxes and deductions. As a general rule of thumb, if you have any of the following situations, hiring a tax preparer in Salt Lake City will ensure that you do not miss a single deduction or render yourself liable to audits.


  • Business Owner- Owning a business, big or small, comes with numerous complex tax rules and elections that you may want to discuss with a professional. There are several ways to write off business expenses and a tax preparer will not only be able to assist with your current taxes, but will be able to advise you on the best possible solutions to maximize deductions in the future.
  • Major Life Event- Major changes during a tax year will affect how you file, these can include buying or selling a home, buying or selling a business, inheritance, adoption, divorce, death of spouse of dependant, etc. There are certain rules that apply to each unique situation that can be more difficult to navigate without a professionals help.
  • Multi-state Residency or Employment- Living in one state and working in another, or moving states mid year can present some challenges with state income tax. A tax professional will help you iron out the wrinkles and will help navigate the allocation and residency issues that can arise in living or working in multiple states.
  • Foreign Assets- If you have assets in any foreign country the IRS requires that you report it. There are special forms to file as well as deductions for any eligible expenses they incur. A tax preparer will be able to accurately calculate exchange rates as well as advise on all of the red tape that comes with foreign assets.
  • Mistakes on Previous Taxes- If you have made mistakes on your tax returns, you have three years to amend them, minimizing the damage. A professional tax preparer can help correct and file an amended tax return before major consequences occur.

Tax Preparing Salt Lake City

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Paramount Experience


Many people do not know how a professional tax firm differs from a tax preparer. The main difference when working with a professional tax and accountingbookkeeping firm, such as Paramount Tax & Accounting Capitol Hill, is that our firm utilizes the services of licensed professionals.

Paramount has worked hard to create relationships to deliver the value that our clients expect. In fact, our goal is to be the No. 1 firm in Salt Lake City. So when you ask yourself, "Where can I find accountingbookkeeping services near me?"... think no further than Paramount Tax & Accounting Capitol Hill!

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Whether you are filing personal taxes or you own a business, if you are not already using a professional tax and accountingbookkeeping firm, you have most likely already missed out on major tax benefits, deductions and credits. This is because a professional tax and accountingbookkeeping firm utilizes licensed professionals, who can not only advise individuals on personal financial matters but who are qualified to advise businesses, financial institutions, nonprofit organizations and government agencies on a wide range of financial topics. Our strict standards ensure that we understand the complicated tax laws and how to implement strategies that return the most benefits to individuals and businesses. Give Paramount Tax & Accounting Capitol Hill a call or visit our tax and accountingbookkeeping firm in Salt Lake City for a free consultation.

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Tax Preparing Salt Lake City

Amendments

It is not uncommon to come across a significant deduction or error that was overlooked when you filed taxes. When this happens, the Internal Revenue Service allows you the opportunity to retroactively amend your taxes to rectify such errors. Whether you received a revised 1099, overlooked a sizable charity deduction, or even miscalculated your mortgage interest, amending your tax return can help you recover the money you are rightfully owed.

At Paramount Tax and AccountingBookkeeping, we not only help you amend your taxes, but also:

  • Calculate your estimated refund
  • Identify reasons (if any) NOT to amend
  • Determine the timing of filing an amendment
  • Determine whether amending your taxes is worth the time and investment

Although there are no requirements or penalties for not filing an amendment, our tax return specialists at Paramount Tax & AccountingBookkeeping can help you best understand.

Free Consultation 801-661-9433

I called with a question regarding trust taxes. Maggie called me back quickly and answered all my questions. I really appreciated how prompt and professional she was. Thanks so much! I highly recommend.
— Melanee Raynes, Posted February 8th 2021 on google
We have worked with Paramount for 3 years in a row and specifically Maggie Gillespie in the Orem office 2 years in a row now and she is phenomenal. Always professional, kind, attentive, and explains all things tax related in away we can understand. She is patient and willing to take the time to help us get things done ...
— Carly Madsen, Posted February 6th 2021 on google
Maggie went above and beyond to help with my taxes. She was knowledgeable, professional, responsive, and eased a lot of my worries. I highly recommend Paramount Tax & Accounting for any small business owners!
— Mandy Madsen, Posted February 2nd 2021 on google
I needed my late taxes done and they got them to me super fast! Thank you!
— Kessanee Kess, Posted July 28th 2020 on google
I needed my late taxes done and they got them to me super fast! Thank you!
— Kessanee Kess, Posted July 28th 2020 on google
Colby and Sara are super great to work with and know their tax and accounting stuff. Thanks Paramount!
— Amber Christiansen, Posted July 28th 2020 on google