Tax Preparation:

The firm offers personal tax return preparation services to its clients. Clients come to know their tax staffer and the staff member comes to know the overall pattern and tax history of each client. We prepare and file individual income tax returns, gift tax returns and trust returns. The tax department works to ensure that all deductions, exemptions, credits and allowances are used appropriately to minimize tax due. Any inquiries, audits, quarterly payments and other interactions with revenue services are typically handled directly by our staff in support of clients. Tax services are billed separately from other charges at reasonable hourly or flat rates (fee schedule available on request).

Reporting to Other Tax Preparers:

For clients who prepare their own tax return, or use a preparer outside of J.M. Forbes & Co. we issue informational returns such as a form K1 or 1099 for any taxable income received through this office.

Analysis of Tax Issues:

Having a tax group within the firm allows J.M. Forbes & Co. to consider the tax implications of many situations arising in a client’s life. Thus, as we invest client funds we consider the tax bracket of the client and what that means for specific strategies we might undertake. We may purchase tax-free municipal bonds, keep income below specific thresholds, or take gains at particular times, all to match a client profile.