1040 Tax SMART

Tax preparation service in Newark, CA (show on map)

4.3

★★★★☆

25 reviews

Accounting firm in Newark, CA offering tax preparation, planning, and business services.

Call (510) 794-4008

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About

1040 Tax Smart, led by Maria Montemayor, provides tax preparation, planning, payroll, QuickBooks services, and business consulting for individuals and small businesses in the Newark, CA area.

Personalized service

Affordable rates

Experienced CPA

Free initial consultation

Services

Tax Preparation

Preparing individual and business tax returns with thorough review to maximize deductions and ensure compliance.

Tax Planning

Strategic planning to minimize tax liability throughout the year, including income deferral and deduction optimization.

Payroll Services

Full‑service payroll processing, including tax withholdings and compliance.

QuickBooks Setup and Training

Implementation and training on QuickBooks for bookkeeping and financial management.

Setup Training

Small Business Accounting

Comprehensive accounting services for small businesses, including bookkeeping and financial reporting.

Estate Planning

Assistance with estate planning to manage asset transfer and tax implications.

Credentials & Certifications

CPA

Reviews

Rating

4.3

★★★★☆

Reviews

"Maria is very knowledgeable and can answer any questions you may have."

Frequently Asked Questions

What is an installment sale and how does it help with tax planning? +

An installment sale allows a seller to receive payments over time, deferring recognition of gain and spreading tax liability across multiple years.

Which tax records must be kept and for how long? +

Supporting documents should generally be kept for three years, but records related to property or investments must be kept for as long as the asset is owned plus at least three years after sale; certain records may need to be retained up to seven years.

How can hiring my child reduce family taxes? +

Wages paid to a child are deductible as a business expense and are taxed at the child's lower rate, potentially reducing overall family tax liability; payroll taxes may also be reduced for children under certain ages.

What are the benefits of using a professional tax preparer? +

Professional preparers can identify deductions and credits that taxpayers often miss; a study found 77% of taxpayers benefited from using a professional preparer.

What key tax due dates should I be aware of? +

Important dates include May 15 for calendar‑year exempt organizations to file Form 990 or request extension, June 10 for individuals to report May tip income, and various quarterly deposit deadlines for employers.

How does an inheritance affect my taxes? +

Inherited property generally receives a stepped‑up basis to its fair market value at the decedent's death, meaning beneficiaries typically do not owe income tax on the inheritance itself, though income generated by the inherited assets is taxable.