January 30, 2023 The Newspaper Serving LGBT Los Angeles

Get the Most out of Your Tax Filing With Mofrad Financial Solutions

Local finance firm meeting the needs of small/medium sized businesses and individuals

Tax season is fast approaching – and to get the most out of your preparation/filing experience look no further than Mofrad Financial Solutions. With more than 20 years in practice, their team specializes in small/medium sized businesses (and individuals) to meet their ongoing tax, accounting, and wealth management needs.

The firm was founded in 1996 by Ed Mofrad, a CPA and a former IRS agent. For the past 25 years, he and his team at Mofrad Financial Solutions have been helping taxpayers with their related needs.

“We call ourselves entrepreneurial accountants,” said Ed, the President of the company. “We are really several firms due to our practice of business valuations/forensic accounting, wealth management, and also traditional accounting/bookkeeping services.

“Our clients are across-the-board, but we tend to be favorites with educators, realtors, medical professionals, IT/Manufacturers, and our biggest fans: The LGBT Community.”

Tax services the firm offers include planning, advisement, preparation/e-filing, resolution (against the IRS/FTB), and tax audit representation.

“Our team of tax experts are available to guide through your filing responsibilities. We work with businesses and individuals to prepare/file returns, resolve tax authority issues, and stay compliant with various agencies” the company’s website says.

The firm also provides consulting services including corporation formation/dissolution and loan application programs (including pandemic related fundings).

“Every business must begin with its choice of entity type. Do you know which works best for you? Our firm can help you decide the format most appropriate – as well as file the necessary paperwork with Federal and State Authorities,” says the company, who can help clients form LLCs, corporations, partnerships, and more.

In addition, Mofrad Financial Solutions is certified by the National LGBT Chamber of Commerce. Part of what sets the firm apart from other companies is its expertise in registered domestic partnership (RDP) tax law. According to Mofrad, such services can be very worthwhile for qualifying clients (heterosexual as well as LGBT).

“We truly specialize in it. The tax advantages are tremendous in a community property state like California” Mofrad said.

“RDP is an often overlooked area of the tax code that provides tremendous benefits to unmarried couples (same sex or otherwise!). Rather than two individuals filing separate federal/state returns, RDPs can take advantage of unique favorable tax advantages. Any dollars saved from taxation are dollars earned for investment. This area of the tax code can be tricky and unfamiliar to many taxpayers and preparers alike, but our firm has specialized in the area for many years.”

On top of the wide range of specialized services the firm offers, Ed Mofrad takes pride in the fact that all the team members are minorities.

“All of us are minorities in this firm. Collectively, we speak Vitenamese, Tagalog, Spanish, Croatian, Farsi,” Mofrad said.

Regardless of your needs and circumstances, Mofrad Financial Solutions can benefit a wide range of clients with its hybrid ability to cater to both business owners and individuals (in a one-stop-shop format) all in a personal and welcoming environment.

“We are truly a family. People who visit us report just loving to be here. They enjoy the atmosphere at our office,” Mofrad said. “As our slogan goes: You won’t know us until you’ve tried us; to know us is to love us!”

To learn more about Mofrad Financial Solutions, call (213) 388-8400, email ed@mofradfinancial.com or visit www.mofradfinancialsolutions.com. Also “friend” the firm and/or Mofrad on social media (FB, Twitter, LinkedIn) to get practical daily articles regarding various related topics. The firm is located at 3424 Wilshire Blvd #1020, Los Angeles, CA 90010.

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