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Eric Smith Financial Services profile image
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Eric Smith Financial Services

I am an Enrolled Agent, Certified Tax Resolution Specialist, Accredited Tax Preparer, and Certified Financial Planner(TM) with 30 years of experience in tax preparation, tax planning, and tax resolution. I am the CFP Program Director for Florida Atlantic University, where I have taught Income Tax Planning as well as other CFP courses for the past 30 years. I am also an instructor for Kaplan University and University of California-Irvine. I offer reasonable pricing, valuable tax advice, personalized service, and efficient processing of your returns or finding the best solutions to your IRS or state tax problems. As a CFP professional, I also offer insurance planning, investment planning, retirement planning, and estate planning in my practice.

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What kind of accounting services do you provide?

Preparation and e-filing of federal 1040 returns and accompanying state returns, W-2s and 1099s, Form 1065 (partnership), Form 1120 (corporation), Form 1120S (S Corp), Form 1041 (fiduciary), Form 990 (non-profit/tax-exempt), Form 709 (gift tax), and Form 706 (estate tax). Tax planning for individuals and businesses (this will become particularly important since the current Tax Cut and Jobs Act of 2017 is set to expire at the end of 2025, returning us to the higher pre-2017 income tax brackets and lower estate tax exclusion amounts). Tax resolution: Finding the best solution to resolve tax issues with the IRS or states by understanding and evaluating your current situation, analyzing possible solutions, presenting to you the best solution, then representing you before the IRS to work with them to come to an agreement that satisfies both parties.

Why is it so important for businesses to hire a great accountant?

Business owners have enough work to do without having to labor over the complex and ever-changing tax laws and how their business decisions will affect their after-tax profits. A great accountant can be a key figure in the business by providing short-term and long-term strategies to reduce taxes, while being able to explain complex tax rules in a clear and simple manner to the business owner. There are many tax decisions that can make or break a business, such as the choice of accounting method, the inventory valuation method, appropriate depreciation schedules for newly purchased equipment, taking advantage of tax code elections and allowable deductions and credits, and starting with, or changing to, the right kind of retirement plan for the business.

What do you love most about your job?

I love that I can make a good living as a CFP professional for myself and my family while helping my clients reach their financial goals. I enjoy interacting with my clients and helping them optimize their finances, including saving money on their tax bill, to help them reach their life goals.

What inspired you to start your own business?

I started in 1986 as a municipal bond broker in Hallandale, Florida. Although the firm wanted its brokers to primary sell municipal bonds, my intuition told me that there must be a better approach to creating a proper portfolio for my clients than simply selling them what they wanted instead of analyzing and recommending what they really needed. After 2 1/2 years, I saw a local CFP professional who had a call-in TV show about financial planning, and I soon started working for him. I was there for two years, learned a lot from the experience, but I discovered that I was doing most of the work, and he was getting most of the money! I decided to start my own financial planning business in 1993, and have been doing it ever since. My business is a full-service financial planning firm, but I have been spending more time on the tax preparation and tax resolution services these days.

Why should our clients choose you?

My business motto is When tax knowledge and experience matters... I have gained tax knowledge from studying for the Accredited Tax Preparer, Enrolled Agent, and Certified Tax Resolution Specialist Exams. In addition, the many hours of continuing education required for these designations, as well as teaching the Income Tax Planning course and other courses in the CFP curriculum at 3 different universities over the past 30 years has solidified my knowledge of taxes and kept me up-to-date on the continuous changes in tax law. I have thirty years of experience preparing taxes for both individuals and businesses. In my tax resolution service, I love helping clients take what they believe to be a near hopeless situation with their IRS problems and turn them into success stories. As a practicing CFP Professional, I am skilled in the financial planning process: gathering financial data from clients, analyzing the data, coming up with solutions to meet client goals, and then explaining the recommended course of action in a way that is simple for clients to understand. I also have a clean compliance record in the financial services industry.

Can you provide your services online or remotely? If so, please add details.

Definitely! In fact, post-pandemic, most clients prefer it. Because of Zoom, cell phones, email, and snail mail, it is easier than ever to work with clients remotely. I also use an email system called VeriFyle, that automatically encrypts all emails and documents sent or received to or from the client's personal portal on the VeriFyle website. This site also stores the documents on the portal so that both the client and tax professional can view all current and past documents uploaded to the website. Payments for services can be made electronically through Zelle, PayPal, or physically by check.

What changes have you made to keep your customers safe from Covid-19?

Fortunately, providing services remotely has made the process totally contactless. For those who want to work with me in person in my office in Miramar, Florida, I have a stand-alone air cleaner with blue light and Hepa filter that continuously recirculates the air in the office. I also have high-grade A/C air filters, UV lights installed in both A/C units as well as air scrubbers in both units installed inside the ductwork to remove viruses, bacteria, and contaminants.

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