TAX SERVICES AND C&J

C&J prepares Federal and State tax returns for its clients. These include income tax, payroll tax, and estate tax returns. C&J also prepares annual information reports for non-profit institutions and pension and profit sharing plans. C&J assists its clients in tax planning and tax consulting and also represents its clients before tax authorities.


EXPATRIATE TAX FILING
Is this your first overseas assignment?

One feature of the growing economy and international trade is the opportunity for U.S. citizens to live and work overseas. Congress passed legislation providing special tax incentives rules which apply to you and attempt to allow you to compete with foreign workers.

Most US citizens living abroad remain liable for US taxes on worldwide income and must file US income tax returns. A return must be filed even if the earned income of these taxpayers is exempt from US taxation. However, as much as $70,000 of foreign earned income may be excluded from taxation. In addition, certain foreign housing costs may be excluded or deducted. Beyond that, a tax credit or deduction may be claimed for tax payments made to a foreign country or US possession, a credit being generally preferable since it may be applied directly against a taxpayer's tax liability. No credit may be claimed for foreign taxes paid on income that may be excluded from US taxation.


ACCOUNTING SERVICES

An audit is a systematic process of examining a company's financial statements. It consists of gathering and evaluating evidence to test the conformity of the statements with generally accepted accounting principles. An audit is designed to provide the users of financial statements reasonable assurance that the financial statements present the financial position and results of operation in conformity with those principles. An audit by C&J provides important information for management and other users of the financial statements, such as creditors or investors. An C&J audit adds credibility to the financial statements. Perhaps a client does not need the extensive procedures and assurance of an audit. In that case, C&J offers two other services: review and compilation. Review procedures, which are less comprehensive than those performed in an audit, still allow C&J to express limited assurance on a client's conformity with generally accepted accounting principles used in its financial statements. A compilation of a company's financial statements by C&J means taking financial information provided by the client and putting that information into a meaningful and appropriate format, but without expressing any assurance on the statements.


MANAGEMENT ADVISORY SERVICES

Businesses are constantly trying to optimize the wealth of the investors. C&J can assist its clients to improve the use of their resources. Business clients need a comprehensive strategic plan. C&J can assist in organizing, planning, and monitoring business developments. Other advisory services include computers and management information systems, personnel practices, inventory control, and relations with lenders or funding agencies. Modern business is fast, changing environment. C&J responds by emphasizing service and support.


ESTATE PLANNING

C&J frequently participates with attorneys, trust officers and other fiduciary positions to aid clients in the important area of planning.

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CHAMBERS AND JACKSON, PC
A Professional Corporation
Certified Public Accountants
PO Box 1171
Ardmore, Oklahoma 73401
Toll Free 888-809-0915
580-223-1877
FAX 580-223-1880
e-mail information@cpa-ok.com

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