tax

Real-world tax savings and financial gains

When you come to my office, you can see my “Wall of Fame” — framed copies of huge tax refund checks and letters of thanks from many of my clients.  Here are just a few examples of the bottom-line difference I have been making to every one of my clients since 1985.

Over $1,100,000 cash back from old tax returns

In 2003, the IRS issued new regulations allowing corporations that meet certain requirements to be classified retroactively as S corporations. This was a gold mine for tax payers who were in effect paying double taxes under their current status as C corporations.  I have so far helped many new clients review their past three years of returns and recoup anywhere from $30,000 to over $100,000 in tax overpayments.

Help with an IRS audit over back taxes

“When IRS audited my payroll taxes, Emil revised my corporate and individual taxes for the last 3 years and I ended up with a big outlay of cash for both my personal and corporate tax returns. He saved me from a lot of penalties and interest charges, as well as bringing me through my personal audit in which I got a refund when it was completed.” Eldon H., CEO

Restructuring expenses saves $70,000 in taxes

“Emil restructured several areas of my state and federal returns — including rental income. It made a difference of over $70,000.” Irene V., President

Supporting clients in “growth mode”

“Our company has been in growth mode for the past 9 years and has been through a few CPA firms. Mr. Estafanous and his staff have proven to be very professional, experienced and current on the latest tax changes. I am confident his firm will fully support our accounting and tax preparation needs for years to come.” Mike P., CEO

Fast response for M&As and other scenarios

“I have worked with Emil Estafanous on acquisitions, dissolutions and ongoing business planning for clients.  He is very knowledgeable, practical and responsive which is critical to be able to meet the time demands we face in most merger/acquisition transactions.” Kevin F. Gillespie, Attorney

Financial and commercial loan expertise

“Mr. Estafanous has been instrumental in assisting me process commercial loans for his clients. I often times require year-to-date financial information for prospective borrowers and Mr. Estafanous has always obliged with quick turn-around, eliminating potential delays.” Randy Gerritsen Wells Fargo Bank, CBB

Payroll management peace of mind

“We have been doing business with Emil Estafanous for at least 15 years. He always been available to answer our questions, guide us through the employment payroll minefields, always represented us in an honest professional manner. He is a trusted member of our business network.” Bob and Donna B., owners of a sign manufacturing company

Professionalism

“Emil Estafanous, CPA has been preparing our personal and business income tax return for the past 5 years. We appreciate his high professional standards and careful work. He is excellent, always accommodating and pleasant to work with.”  E. S., owner of a realty firm

Creativity

“I had realized a sizable stock market gain. By analyzing all facts, Emil was able to shelter these gains, restructure my business, lower my taxes, cover my family’s medical insurance, and build for retirement. In short, I was able to write off all my investment expenses as business expenses, which left over one million dollar available for my trading activities.”  Owner of an investment firm

Knowledge of future trading

“As a future trader himself, Emil understands how to use this type of investment to manage risk and protect capital. His ability to help structure this type of activity and elect the proper way to treat profits and losses makes a real difference for clients who would otherwise owe huge amounts of taxes.” Steven B., Partner in an LLC

Real-world business advice

“Emil asked ‘do you have to have your business incorporated in California?’  As he helped me answer that question, he also helped me save $330,000 in state taxes by diversifying my operation.  One of the secrets was that I didn’t just incorporate in another state – I’d have still been liable for California state taxes which are rising along with payroll and employment taxes.” Steve C., software developer

Tax help with medical expenses

“I could be covered by health insurance through my company.  But I was turned down because of my preexisting condition – diabetes. Emil showed me an alternate way to have the business provide coverage for my doctor bills and expensive medication.” Charles F. Vice President of a local company

A resource for other CPAs

“Emil assists other CPAs when they need second options on complicated tax issues or when out-of-state CPAs need his expertise on in-state requirements or strategies. Emil is also helpful to our law firm when the challenges our clients face involve tax or financial accounting issues. So many times he helps us explore alternative solutions.”  Managing partner in a law practice

Strong support when business goes bad

“I had been losing money in my business, but my tax bill was still going to be huge.  Through restructuring and finding additional deductions, Emil was able to eliminate 70% of what I owed. Plus, my credit had suffered and he showed me ways to protect and improve my standing so that I could continue doing business.” Sole proprietor