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Individual Services

Riccabona and McGee LLP provides a wide range of services to individuals and businesses in a variety of industries. At Riccabona and McGee  LLP, we strive to meet each client's specific needs in planning for the future and achieving their goals in an ever-changing financial and regulatory environment.

Our professional services include:

Preparation of Tax Returns

We will prepare your tax return as if it were our own return. We will guide you through a full range of tax planning and preparation decisions. Our experience can assist you in many areas including the following.

Optimizing opportunities in the tax laws to reduce your tax liability:

  • Home office deductions
  • Business auto expenses
  • Retirement plan contributions including SEP, 401k and IRAs.
  • Optimal depreciation and expensing methods for business assets
  • Foreign tax credits and exclusions
  • Tax credits, such as first-time homebuyer’s credit, energy credits, and child credits
  • Health Savings Accounts
  • Charitable contributions

Tax planning and reporting of real estate transactions:

  • 1031 exchanges and reverse exchanges
  • Installment sales
  • Purchase and sale of rental property
  • Short sales, involuntary conversions, and foreclosures.
  • Refinance proceeds tracking for allowable mortgage deduction
  • Application of excess mortgage interest rules

Multi-state returns:

  • Determining nexus
  • Other state tax credits
  • Property basis differences
  • Residency determination

IRS Representation

Professional representation can be vital in dealing with federal and state tax agencies. We can assist when needed.

  • Respond to IRS and State tax notices
  • Assist with abating penalties and assessments
  • Installment Agreements and Offers in Compromise
  • Representation during an audit

Tax Projections

Be proactive and take control of your tax situation. Plan ahead, rather than just hoping for a good outcome. We can help you with the following.

  • Better match your revenue and expenses
  • Timing of major sales and purchases
  • Retirement plan decisions

Debt and Refinance Consulting

We can help you in sorting out the different options available for debt management.

  • New financing
  • Refinancing
  • Help establish relationship with bank
  • Negotiate down credit card balance

Retirement Plan Consulting

We can help you understand the various retirement plan alternatives and help you in your decision-making process.

  • Communicate affect of plan contributions
  • Maximize contribution amount that is most favorable for you
  • Discuss plan combinations and catch-up provisions

Litigation Support and Forensic Accounting

We provide litigation support and forensic accounting services that can be employed in a wide range of situations including the following.

  • Commercial litigation
  • Financial investigations
  • Business valuations
  • Business and marital dissolutions
  • Bankruptcies
  • Fraud and theft investigation

Information Request for Services Listed Above