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Tax Projection

Draft tax return to make educated financial decisions

Tax Projection

What you need to know:

"Big ticket" life events such as moving abroad, job promotion, divorce, retirement or selling one's house will likely result in significant changes to your income — and will likely lead to large changes in your tax obligations.

The Catch-22 is that the IRS expects you to make estimated payments (due to higher income) this year, even though your return will only be prepared & filed the following year! This is where TFX can help.

If you expect any of these, a projection is recommended

The most common events that may trigger a large tax bill include:

  Taxable Events  
  • Significant increase in wages
  • Change in filing status (single <-> married)
  • Commencing withdrawal from pension fund
  • Starting a business
  • Sale of property
  • Sale of stock or other financial assets resulting in capital gains
  • Severance payment from former employer
  • Moving to another country
  • For Americans living abroad (expats), еxcessive stay in the U.S.

Our Tax Projection service will help you determine how much money you have to set aside for future tax obligations in order to avoid getting caught off-guard by an unexpectedly high tax bill (and IRS penalties for underpayment of estimated taxes ).

What you get

The goal of this service is to help you understand future financial obligations and avoid potential tax penalties (that will certainly happen if you are not prepared). Tax Projection* deliverables include:

  TAX PROJECTION DELIVERABLES INCLUDE:  
  • Draft of form 1040
  • Vouchers for estimated IRS payments

*This service requires a retainer, with credit remaining to finalize your return when you obtain final figures.

The tax projection is quantitative. If you would like to get advice on the moves you can make now that could minimize your anticipated tax bill you can schedule a Tax Planning Consultation which is a qualitative discussion on the phone.

How TFX can help

Expert Team, No Junior Staff

At TFX, we have been preparing business tax returns for over 25 years. We never hire junior staff. No outsourcing, no middlemen: you’ll be working directly with an experienced (our average age is 42) CPA or EA who will handle your case from beginning to end.

Expert Team, No Junior Staff

Help & Support

Aside from knowledge, convenience and security are what we value at TFX. And these key features are what our clients are thrilled with. Our best-in-class secure online portal makes TFX the top-rated tax firm (with an average score of 4.8/5 on Trustpilot).

Help & Support

Phone Consultations

In addition to tax filing & compliance, TFX offers tax planning & phone consultations. Choose a convenient time & book directly in your client portal.

Phone Consultations

Transparent pricing

TFX pricing is transparent, which means you’ll always know what you pay for.

Transparent pricing