Individual Tax Services

Shurson Group provides tax preparation and bookkeeping services for individuals. The accounting and tax preparation services we provide are tailored to the unique needs of each client, ensuring high quality reporting and maximized tax returns. We stay well-informed and continually adapt to the ever-changing world of tax law and accounting.

Individual Tax Preparation

We offer tax advice and expertise tailored to your situation and goals. People who prepare their own taxes, even using tax software, often miss deductions and tax credits and lose significantly more in their tax bill than what they “save” by doing it themselves.

Individual Tax Preparation

We offer tax advice and expertise tailored to your situation and goals. People who prepare their own taxes, even using tax software, often miss deductions and tax credits and lose significantly more in their tax bill than what they “save” by doing it themselves.

ITIN Preparation

We are a Certified Acceptance Agent for ITIN applications. An Individual Taxpayer Identification Number (ITIN) is a tax processing number issued by the IRS to individuals who are required to have a US taxpayer identification number but who do not have, and are not eligible to receive, a Social Security number. ITINs help individuals comply with the US tax laws, and to provide a means to efficiently process and account for tax returns and payments for those ineligible for Social Security numbers.

ITIN Preparation

We are a Certified Acceptance Agent for ITIN applications. An Individual Taxpayer Identification Number (ITIN) is a tax processing number issued by the IRS to individuals who are required to have a US taxpayer identification number but who do not have, and are not eligible to receive, a Social Security number. ITINs help individuals comply with the US tax laws, and to provide a means to efficiently process and account for tax returns and payments for those ineligible for Social Security numbers.

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FAQs

Individual Tax

Estate planning ensures your wishes regarding your property will be honored in the years to come. By laying out exactly how your property will be transferred, you’ll gain peace of mind that your loved ones will be taken care of.

A trust is a legal entity that holds onto assets for another’s benefit. You can place nearly any kind of asset into a trust, including cash, stocks, bonds, real estate, insurance policies, artwork, and more.

Here is what the IRS recommends:

  1. Keep records for three years from the date you filed your original return or two years from the date you paid the tax – whichever is later – if you file a claim for credit or refund after you file your return.
  2. Keep records for seven years if you file a claim for a loss from worthless securities or bad debt deduction.
  3. Keep records for six years if you do not report income that you should report, and it is more than 25% of the gross income shown on your return.
  4. Keep records indefinitely if you do not file a return or file a fraudulent return.
  5. Keep records for three years if situations in #3 and #4 do not apply to you.
  6. Keep employment tax records for at least four years after the date that the tax becomes due or is paid – whichever is later.

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Contact

2222 18th Ave. NW, Suite 100
Rochester, MN 55901
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507.206.0677

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