What we're about is Looking Out For Your needs.
What we're about is Looking Out For Your needs.
LOFY's Services For Your Business Needs
LOFY's Services For Your Business Needs
Tax Representation
Tax Representation
We offer full tax representation handling your tax matters before the IRS. Being retained as your Tax Representative gives you freedom from communicating with the IRS to resolve matters. We will take on the load for you, reporting back to you everything the IRS records show internally and workout the correct resolution for your specific tax account
Below are a few highlights of services provided as a Tax Representative:
Business Formation
Business Formation
Need help setting up your businesses legal structure? We can help you with this!
Looking Out For You offers business formation services. As your formation specialist, we will inform you the requirements to be in compliance with the state you company will operate from. If your interested in 100 percent ownership, LLC, partnership, corporation or non-profit organization, we will prepare all documents and process them for filing on your behalf, seeing the process through to the end. The results- you company having met the legal requirements to function. We provide services covering Trademarks, Service Marks & Agent of Record.
Tax Preparation
Tax Preparation
Do you have delinquent tax returns and seeking to have them prepared to be in compliance with the law? Are you wage earner, self - employed, contractor or a business looking to to stay on top of your tax matters, making sure you file are required? Well this is what we do at
Looking Out For You
We want you to have no stress experience in tax preparation. This is why we are ready to conduct an in take assessment, receive your records, organize them for you and begin preparing your returns for your review , and we also offer e-filing for quick processing.
Tax Preparation
1040 series
Individual tax returns for wage earners and the self employed. To report your income for the year including income received from your pay, share or drawls. If you have business expenses and/loss, depreciation, mortgage interest etc. you can report them here on your 1040 return
Forms: 568 & 1065
Do you Need Returns for your Limited Liability Company and/or Partnership? F568 is a return to file required for all Limited Liabilities Company showing your companies overall earnings, asset, payments and loss. F1065 the informational return for your partnership of which partners each will have the requirement of reporting their individual income using form 1040.
Form 1120S
Is your business already structed as a U.S. Corp? Form 1120, U.S. Corporation Income Tax Return, is used to report the income, gains, losses, deductions, credits, and to figure the income tax liability of a corporation.
Forms 990
. Non-profit Organization have filing requirement of Form 990 if they meet the dollar amount which require form 990 be filed reporting tax exempt income for your Non-Profit Organization NPO.
As your representative with authorization of Form 2848 Looking Out For You will handle the following services include but no limited too:
Filing delinquent tax returns/addressing IRS filings
If you are behind in filing as required, we will prepare your returns, and if the IRS has filed returns on your behalf we will submit your own filings in place of their assessment which may result in lower or no tax due- even possible refunds.
Payment plans (or) Inability to pay arrangements
If you have outstanding balance and are unable to fully pay them, we will arrange a payment plan that fit your ability to pay per month.
Or if your financial situation shows a hardship and you have no ability to make payments, we will conduct a financial analysis to assess the inability to pay in which your balance may be closed as uncollectable until a later time.
Bank levies/Wage garnishments & Tax liens
We will negotiate the release or such actions taken against you. As each tax account has unique identifiers whereby addressing unresolved matters can result in releasing of attached wages and/or bank accounts.
Special Filings
-If this criteria is met, we will file on your behalf Innocent spouse form or Injured spouse form. These claims can result in IRS not holding you liable for tax matters you should not be held liable for.
-COVID 19 Penalties waiver request can be filed on your behalf if criterion is met for being impacted due to the pandemic, resulting in removal of penalties.
-For a tax settlement, we can file an Offer In Compromise for your tax balance to be lowered based on what you are able to or propose to pay.
Tax Representation
Tax Representation
Business Formation
Business Formation
Sole Proprietor
For those looking to setup a businesses structure does not require the use of an Employer Identification number to operate if business will not have employees. This business structure is for 100 per cent ownership the proprietor use of legal name and/or DBA for naming your company.
Limited Liability Company/ LLC
This business structure is for those who desire to have a company of which the owner/member(s) personal assets are separated from the company. Having a Limited Liability Company can offer protection of owner/member(s) assets and also provides certain taxation benefits according to the election of structuring your Limited Liability Company.
Partnerships & S Corporations
If you are considering entering into a business with more than one owner or investors with shared responsibilities and liabilities per your agreement of your company, and plans to have stocks/shares for corporations
Non-Profit Organizations/NPO
Are you wanting to establish an organization that helps others with plans to run on donations? Are you wanting to establish an association or coalition which provides services to it's members who will pay membership fees and participate in the activities of your non-profit organization? Are you a church needing to set up you 501 (c)(3) If you are considering your company/ organization to not be for profit
Registered Agent Services
You will need a Agent of Service for all legal communications from the State of California. This is a requirement when establishing a business in California. We offer this service, providing you with the legal receiving letters, ensuring you receive notices in a timely manner.
SMLLC Operation Agreements
SMLLC operating Agreement spells out the structure for your company: its legal structure, the purpose and how it will operate. The agreement outlines the internal operations including the businesses financial decisions referencing the member(owner) is a separate entity from the company. The Operating Agreement is a "Required Legal Document" for same states. The State of California mandates LLC's have a Operating Agreement.