Mraz Tax Solutions: Your licensed tax advisor.

Retirement Tax Services and Planning

We offer our expert advice when it comes to retirement accounts. Whether you are planning your contributions or considering a distribution, we're here to advise you on the tax consequences of both.

Mraz Tax: Retirement Tax Services

Types of Retirement Accounts

Our services include an in-depth consultation on the different types of retirement accounts and the tax advantages of each, as well as how to contribute to these accounts. Traditional IRAs, Roth IRAs, 401(k)s, SIMPLE IRA's and SEP IRA's have distinct tax treatments and benefits, with our guidance you'll understand the differences.

Contribution Limits and Deadlines

Retirement contributions must be made by the tax filing deadline. The contribution amount increases for inflation year after year, and you may be eligible for a catch-up contribution if you meet certain requirements. We'll make sure you know what these limits are as well as any catch-up contributions you may be eligible for.

Tax-Deductible Contributions

Factors such as your tax filing status, income, and coverage by a workplace retirement plan impact the deductibility of contributions to a Traditional IRA. Our expertise in retirement contributions ensures that we accurately calculate your deductible contribution and associated tax savings.

Retirement Distributions

Our role is to ensure that clients are fully informed about the tax consequences of their retirement account activities, whether they are in the accumulation or distribution phase. We provide advice on the tax implications of distributions from retirement accounts, including early distributions and the associated 10% tax penalty, as well as meeting the requirements for a tax-free distribution from a Roth IRA.

Required Minimum Distributions (RMDs)

Missing Required Minimum Distributions can result in a 50% excise tax and the SECURE Act of 2019, which raised the RMD age to 72 for some individuals, has increased the complexity of these regulations. Our team is up to date on calculating RMD's and avoiding the 50% tax for missed distributions.

Inherited Retirement Accounts

We guide beneficiaries through the intricacies of the new rules brought on by the SECURE Act, including the requirement for most non-spouse beneficiaries to distribute the entire balance in the first 10 years of the original owner's death. Our expertise helps beneficiaries navigate the challenges and opportunities of inherited assets in a tax-efficient way.

Converting to a Roth IRA

Converting a Traditional IRA to a Roth IRA can be a strategic decision for many taxpayers. We provide comprehensive analysis on this conversion, considering the immediate tax implications and the potential for tax-free growth and distributions in the future. This service is particularly beneficial for those anticipating higher tax brackets in their retirement years.

Tax Planning and Projections

Beyond immediate tax concerns, our service extends to long-term tax planning and projections. We consider our clients' overall tax situation to optimize their retirement contributions and distributions. This involves analyzing the impact of various distribution strategies, projecting future tax liabilities, and planning for the efficient transfer of retirement assets.

IRS Audit Representation

Should the IRS audit your tax return or have any questions regarding your retirement accounts, we are here to offer representation and assistance. Our licensed tax advisors have the knowledge and experience to defend you in case of an audit.

Do you offer free initial consultations?

Yes! We are here to help with all your tax questions, and we offer free initial consultation by email, phone or in person. Our office is in Orange County, California. If you have any questions, feel free to contact us.

Are you licensed by the IRS?

Yes. Milan Mraz is an Enrolled Agent, licensed by the IRS with unlimited practice rights. Enrolled Agents usually help with your tax planning, prepare, sign, and file your tax returns, offer tax advice, and may represent you before the IRS.

Can you prepare a tax return for my small business?

Yes. We help businesses meet all their tax needs year-round. Whether you are self-employed or own a business with multiple employees, Mraz Tax Solutions can handle your business tax return preparation.

Can my tax return preparer review my self-prepared returns?

Yes. We review Federal and State returns self-prepared or by others. We will advise you of missed deductions or audit risks, as well as prepare corrected or amended returns.

Mraz Tax: We help with your Taxes

Why file your taxes with Mraz Tax Solutions?

We specialize in individual and small business tax returns. Whether you're an employee filing a W-2, a contractor taking part in the sharing economy filing a 1099 or a small business owner, we are here to help. We understand the importance of minimizing your tax and getting you the maximum refund you are legally entitled to. In order to do this and to prepare a complete and accurate return we take the time to get to know you and your goals.

CONTACT US

Have any questions? Let's get connected.

We are here to help. If you have any questions about our services or you'd like to schedule a free consultation with a licensed tax advisor, please get in touch. Online, by phone or in person.

Call Us

949.432.6729

Send an Email

office@mraztax.com

Tax Office Address

30021 Tomas Street #300, Rancho Santa Margarita, CA 92688

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