Tax Preparation Services for Individuals

Get organized and maximize your refund this tax season with personalized tax preparation services from the experts at IBI. We specialize in helping individuals navigate the complexities of filing taxes.

Tax Preparation Services for Individuals

Get your taxes done right with IBI. We have the experience and knowledge to help you get the most from your return.


While many Americans choose to do their own taxes using individual tax preparation software (or manually), the easiest and best way to do your taxes is to have someone else take care of the math and paperwork for you. 

This is the benefit of using IBI’s tax preparation services. Let us take care of your complicated tax needs! With our expert guidance and in depth knowledge of income tax reduction strategies and tax loss harvesting that comes from years of experience in the field, we at IBI will have your personal taxes filed with ease. We’ll save you both time and money—not to mention a lot of hassle.

Busy people may not have the time or expertise to prepare their own tax returns. IBI can file your individual tax return for you. IBI offers tax preparation service that helps individuals and small businesses with their taxes. 

We offer consultations, which includes a review of your previous year’s return and an analysis of your current year’s income and deductions.

Our team of tax professionals have years of experience working with individuals and business owners to ensure that all tax rules and regulations are followed. We will work with you to maximize your tax deductions and ensure that your taxes are paid on time. 

We ensure our knowledge of the IRS code is always current, and we understand the nuances of filing taxes in different states. As a result, we can provide advice tailored to your specific situation. 

With IBI tax professionals, you can rest assured that you’re in good hands. We’ll make sure all your tax needs are taken care of, so you can focus on what’s important – living your life.

Tax Preparation Services for Individuals

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Have Tax Preparation Questions? We Have the Answers!

What are tax protection calculations?

Tax protection calculations are calculations used to estimate the amount of tax a person or business will owe for a specific period of time. These calculations may include deductions and credits that can be applied to lower the overall tax liability. Tax protection calculations also consider any potential liabilities the individual or business may have in regards to taxation. The calculations are used to estimate and plan for any possible future tax obligations.

What is tax loss harvesting?

Tax loss harvesting is a tax strategy used to offset capital gains by selling investments that have experienced a loss. This loss can then be used to reduce the amount of taxable income reported on a tax return. Tax loss harvesting is typically done to reduce the amount of taxes owed and can help investors save money.

What are hypothetical tax calculations?

Hypothetical tax calculations are a common way to estimate the amount of taxes owed on a given income, such as when filing a tax return. These calculations assume certain facts, such as the tax rate, deductions, and credits. They provide a rough estimate of the estimated taxes paid and can be used to weigh different scenarios and plan accordingly.

What are Tax & Social Security cost projections?

Tax & Social Security cost projections are estimates of the costs associated with paying taxes and Social Security contributions over a given period of time. These projections can help individuals and businesses plan for their financial future by providing insights into the impact of taxation on their income, assets, and investments. Additionally, these projections can be used by governments to determine the amount of taxes they should collect and how these taxes should be allocated.

IBI Tax Preparation Services provides expert advice and guidance to help reduce your income tax burden. Our experienced tax professionals are knowledgeable in tax loss harvesting and income tax reduction strategies, ensuring that you pay the lowest amount possible. We have the time and expertise to handle even the most complex situations, such as multiple jobs, varied deductions, relocations, investments, familial changes and more. Let us help you maximize your savings and minimize your tax obligations with our comprehensive tax preparation services.

Individual Tax FAQs

We have the experts, know-how and connections to help you succeed and most of all we want you to succeed! We have the means to help you, and we understand that you likely have questions. Check out our FAQs on how we can help you and let’s get started. 

IBI’s tax preparation services include:

  • Filing basic tax returns
  • Assistance with more complex tax situations (e.g. self-employment, investments, rental properties, etc.)
  • Tax planning and advice
  • Tax resolution services (e.g. resolving tax debt, filing back taxes, negotiating with the IRS, etc.)
  • Tax audit representation
  • Estate planning
  • Small business accounting services
  • Help with IRS notices, requests for information, or other correspondence

The specific documents you need to provide your tax preparer will depend on your individual situation. Generally, you should bring your prior year's tax returns, all W-2s, 1099s, and other income documents, as well as proof of any deductions or credits you are claiming. You should also bring any statements related to investments, such as bank and retirement account statements, and records of charitable donations or other expenses. Finally, if you have any documents related to purchases or sales of real estate or investments, bring those too. Here is a quick checklist:

  • Copies of any W-2 forms you received from employers.
  • Copies of 1099 forms you received from any independent contractors or freelancers you paid throughout the year.
  • Copies of Social Security or disability benefits statements.
  • Copies of any 1099-INT or 1099-DIV forms you received, if applicable.
  • Copies of all 1098 forms, such as a 1098-T or 1098-E, if applicable.
  • Copies of any 1099-R forms reflecting distributions from retirement accounts or pensions.
  • Copies of any K-1 form (Schedule K-1) you may have received, indicating income from a partnership, S corporation, estate, trust, or other sources.
  • Copy of last year’s tax return, if applicable.
  • Copies of brokerage statements, mutual fund statements and all other earnings statements.
  • Records of charitable donations and/or records of any other expenses you wish to deduct.
  • Any other applicable forms, records and/or receipts.

Yes, we do! Liaising with tax authorities refers to the process of maintaining communication and exchanging information between an individual or business entity and the relevant tax authorities. This could include filing periodical tax returns, responding to tax queries, and ensuring compliance with the relevant regulations and laws.

When it comes to filing your taxes, not everyone is required to file each year.  However, how do you know if you need to file a tax return? 

Well, it depends on the amount of income you make, your age, and filing status - which can change every year.  Thus, it is best to speak to a tax professional or ask if you are required this year or not.  Feel free to call us, send a message, or email to inquire; we are happy to give you the guidance you're looking for.

Tax preparation is the process of preparing tax returns, often for income tax purposes for a person or entity, generally for compensation. These filings can be done annually, quarterly, or monthly depending on the tax government agency, you are filing for.

The best way to prepare for taxes is following these helpful action items, as well as working with a team like IBI.LLC.  

  • Gather important tax documents.
  • Obtain copies and information about your dependents.
  • Double-check personal information with your employer.
  • Double-check IDs or ITINS are up to date. 
  • Create categories and total the amount you want to deduct.
  • Finalize contributions for the year.
  • Stay up to date on news from the IRS.
  • Speak with your Tax professional before the end of the year, so you can complete anything needed in the tax filing year.

The tax forms you will need can vary depending on your personal income tax situation and year of filing.  IBI.LLC has created an intuitive online tax filing platform that shares with you what forms you need based on your answers to our questionnaire. This same platform will give you access to an IBI tax specialist to answer any questions you may have.

For filing when unemployed, you generally will use the form 1099-G, where certain government payments are reported. Contact one of our tax specialists to find out about your situation.

There are five types of filing status you could qualify for based on your situation.

  • Single
  • Married Filing Jointly
  • Married Filing Separately
  • Head of Household
  • Qualifying Widow (er) with Dependent

Most tax specialists will suggest avoiding any late payment fees; you should pay them quarterly, but you can pay all four quarters of your estimated taxes in one payment if you combine all four amounts in one payment. The earlier you make this payment, the less likely you are to get any late payment fees.

You can pay taxes online by visiting and click on the "Make a Payment" link on the main page.  Under "Pay My Taxes Now," you will get the option to pay by credit card, debit card, or bank account (direct pay).    If you still need assistance paying online,  you can contact an IRB tax specialist by calling 323-264-8460, and they can assist you for a small fee.

Paying taxes on social security is only applicable if you surpass a certain amount of income throughout your entire year.  For example: For a single filer, any income (along with your SS Benefits) that surpasses $25,000 and $32,000 as married filing jointly is likely going to be taxable income. However, there are strategies you can use to reduce or eliminate your tax liability. Consult with one of our tax specialists to see if we can help reduce or eliminate your tax liability.

Taxes on stock should be paid the year of the sale of the stock. If any profit is made on the sale of the stock, it will be taxable. The tax on the sale of the stock is based on your ordinary taxable income rate. If you receive dividends from a stock, they are taxed in the year you received them. There are strategies you can use to minimize your tax liability on them; some may qualify to pay 0% tax on the gains. Consult with one of our tax specialists to see how you can minimize your tax liabilities, even if it's before or after you sell your stock. We recommend getting your free consultation before you selling any stocks.

Currently, inheritances are not considered income, so they are non-taxable for federal purposes; however, any subsequent profit that your assets generate, like rental income, is likely taxable.  Having said that, you have to keep in mind that inheritance assets cannot surpass more than $11.70 million worth and that some states do withhold taxes from inheritances.  But the current presidential administration (democratic) is looking to change and apply inheritance tax.  Consult with one of our tax specialists on what changes may come that can affect your inheritance before or after any distributions are made. We always recommend consulting with us before any distributions are made.

Taxpayers who filed their taxes can go to the IRS website to check the status. By clicking the "Where's my refund?" tool, they can track it down by simply answering a few personal questions such as social security number, address, and refund amount. 

Taxpayers who filed their state taxes will need to go to your state tax website to check the status.  Most offer a section of "where's my refund?"   You may need to answer a few questions, such as your social security number, mailing address, zip code, and refund amount. 

Yes, tax preparation fees can be deductible for qualified tax filers. Contact one of our tax specialists to see if you qualify for this tax deduction.

To pay taxes on your car depends on the state you reside. The amount of tax due for a new or used purchased vehicle also varies. Normally you would pay your car tax with your local DMV when transferring registration. However, paying the taxes on the purchase of your car can become a tax deduction that you can take advantage of on the year you purchased your vehicle. Contact one of our tax specialists to see if you qualify for this car tax deduction.

Generally, you should keep your tax records for at least three years after the date you filed. Yet, some records should be kept even longer, especially on audited years. It's a good idea to keep copies of your tax returns indefinitely.

Get in touch with our experts!

IBI is here to help you with your complex tax issues. We have offices in California, Nevada, and Mexico to serve you better.