About Keystone Tax

  • What services does Keystone Tax provide?

    Keystone Tax provides tax preparation and proactive tax planning for individuals, retirees, pre-retirees, and small business owners. Our team helps clients understand their tax situation, prepare accurate returns, and plan ahead for future tax decisions rather than focusing only on filing season.

  • Who does Keystone Tax work with?

    Keystone Tax works with individuals, families, retirees, pre-retirees, and small business owners. We provide personalized tax guidance based on each client’s financial situation, goals, and tax needs.

  • Does Keystone Tax provide year-round tax planning?

    Yes. Keystone Tax focuses on both tax preparation and proactive tax planning. Year-round planning can help clients prepare for upcoming income changes, retirement withdrawals, business decisions, estimated tax payments, and other events that may affect their taxes.

  • Is Keystone Tax a CPA firm?

    Keystone Tax is led by Jesse Becker, CPA, MSA, who specializes in tax planning and works with individuals and small businesses.

  • Where is Keystone Tax located?

    Keystone Tax is located at 4252 Southtowne Drive, Suite D, Eau Claire, Wisconsin 54701. The office is currently open Monday through Friday from 9 a.m. to 5 p.m.

  • What areas does Keystone Tax serve?

    Keystone Tax serves clients in Eau Claire and throughout the Chippewa Valley. As our firm continues to grow, we are committed to providing personalized tax preparation and planning to individuals, retirees, families, and business owners throughout the surrounding Wisconsin communities.

Local Tax Help

  • What are the benefits of working with a local tax consultant in Eau Claire?

    Working with a local tax professional gives you access to personalized guidance and the opportunity to build an ongoing relationship with someone who understands your financial history and goals. Keystone Tax provides tax preparation and year-round tax planning for clients in Eau Claire and throughout the Chippewa Valley.

  • Why should I work with a tax planner instead of only a tax preparer?

    Tax preparation focuses largely on reporting what has already happened during the previous year. Tax planning looks ahead. A tax planner can help you consider how decisions involving retirement income, business income, investments, major purchases, or other financial changes could affect your taxes before the year is over.

  • When should I meet with a tax professional?

    You do not have to wait until tax season. It may be helpful to meet with a tax professional before major financial changes such as retirement, starting or selling a business, receiving a large distribution, selling property, or making significant changes to your income.

  • 1099 Reporting Requirements

    When do you need to issue a 1099 for subcontractors?

    If you pay a subcontractor $600 or more, you must send them a 1099 form. This applies only if they are an individual, a single-member LLC, or a partnership. Corporations do not need to receive a 1099.

    The subcontractor must have provided services to you.

    If you pay them by check, card, or cash, you need to report it with a 1099. But if you pay them through payment services like PayPal, and they meet the new 1099-K rules, you do not need to issue a 1099.

  • Social Security Taxation

    For federal taxes, some people don't know that Social Security can be taxable in retirement. How much is taxed depends on your provisional income, which is 50% of your Social Security plus all other income like pensions, IRA withdrawals, or rental income. Depending on your provisional income, 0%, 50%, or up to 85% of your Social Security may count as taxable income. It's important to keep track of this.

  • Estimated Taxes

    Usually, people who are self-employed, earn rental income, or have high interest or dividend income need to pay taxes every three months. This is because they don’t have taxes taken out like a regular paycheck. If they don’t prepay, they may get fined by the IRS or state. To figure out how much to pay, we estimate your yearly income, calculate the taxes, then split that amount into four payments due throughout the year.

  • Tax Credit vs. Tax Deduction

    A tax deduction reduces the income that is taxed, like donations or mortgage interest. This lowers your taxable income.

    A tax credit lowers the actual taxes you owe, which is usually more helpful. For example, the child tax credit cuts your taxes directly, dollar for dollar.

  • Traditional IRA vs. Roth IRA

    You can generally invest in anything you want in these accounts. A traditional IRA lets you deduct your contributions on taxes, the money grows tax-free, but when you withdraw, you pay taxes on both the original amount and the growth. A Roth IRA doesn’t give you a tax deduction when you contribute because you use after-tax money. However, the growth and withdrawals are tax-free.

    In short:

    Traditional IRA = tax break when you put money in, taxed when you take it out.

    Roth IRA = no tax break when you put money in, but tax-free growth and withdrawals.

  • Standardized vs. Itemized Deductions

    The IRS offers two choices for your tax return. You can take the standard deduction, which is about $14,000 to $15,000 if you file alone, or around $29,000 to $30,000 if you file jointly as a married couple. This deduction lowers your taxable income.

    If you have high costs like mortgage interest, medical bills, property taxes, or charitable donations, you might choose to itemize these expenses instead. Itemizing helps if these costs add up to more than the standard deduction, giving you a bigger tax deduction and reducing your taxable income.

Retirement Tax Planning

  • When should I start retirement tax planning?

    Retirement tax planning can begin before you retire. Planning ahead gives you more time to consider how Social Security, retirement-account withdrawals, Roth conversions, investment income, and required minimum distributions may affect your taxable income over time.

  • Is Social Security taxable in retirement?

    It can be. For federal income tax purposes, whether a portion of your Social Security benefits is taxable depends on your filing status and your combined income, which includes other sources of income along with part of your Social Security benefits.

  • What is a RMD?

    A required minimum distribution, or RMD, is the minimum amount that generally must be withdrawn annually from certain retirement accounts once the account owner reaches the applicable age. Traditional IRAs, SEP IRAs, SIMPLE IRAs, and many employer retirement plans are subject to RMD rules.

  • When do required minimum distributions start?

    Under current federal rules, many retirement-account owners generally begin taking RMDs at age 73. Different rules can apply depending on the type of account, employment status, and beneficiary situation, so it is important to review your specific circumstances.

  • Can Keystone Tax help with RMD planning?

    Yes. RMD planning is one of the retirement tax areas Keystone Tax focuses on. We can help clients understand how required withdrawals may affect taxable income and how those withdrawals fit into a broader retirement tax strategy.

  • What is a Roth conversion?

    A Roth conversion involves moving money from a traditional IRA or certain other pre-tax retirement accounts into a Roth IRA. Generally, previously untaxed amounts converted to the Roth IRA are included in taxable income for the year of the conversion.

  • When might a Roth conversion make sense?

    A Roth conversion may be worth evaluating during years when taxable income is lower than it may be in the future. However, a conversion can increase taxable income in the year it occurs, so the amount and timing should be considered carefully as part of an overall tax plan.

  • Can retirement withdrawals affect how much tax I owe?

    Yes. Withdrawals from many tax-deferred retirement accounts are generally included in taxable income, which can affect your overall tax situation and may also influence how other income is taxed.

Small Business Taxes

  • Does Keystone Tax work with small business owners?

    Yes. Keystone Tax works with small business owners on tax preparation and tax planning, including Schedule C businesses, deductions, S-Corp considerations, and quarterly estimated taxes.

  • Does Keystone Tax prepare taxes for LLCs and S-Corporations?

    Keystone Tax works with small business owners, including businesses that operate under different entity structures. Because filing requirements vary depending on how a business is structured and taxed, we recommend discussing your specific situation with our team.

  • Do self-employed business owners need to make quarterly estimated tax payments?

    Many self-employed individuals need to make estimated tax payments during the year because income taxes are generally not automatically withheld from self-employment income. Estimated payments may need to be adjusted as income changes throughout the year.

  • Can Keystone Tax help calculate quarterly estimated taxes?

    Yes. Quarterly estimated tax planning is one of the areas Keystone Tax helps small business owners address. Instead of waiting until filing season, planning throughout the year can help business owners better anticipate their tax obligations.

  • When should a small business owner hire a tax professional?

    A business owner may benefit from professional tax guidance when starting a business, choosing or changing an entity structure, hiring employees or contractors, making estimated tax payments, evaluating deductions, or when business income becomes more complex.

Tax Preparation

  • Does Keystone Tax prepare individual tax returns?

    Yes. Keystone Tax does prepare individual tax returns. We work with individuals, families, retirees, and pre-retirees to prepare accurate tax returns and help them understand how their income, deductions, credits, investments, retirement distributions, and other financial activity affect their overall tax situation.

    Our approach goes beyond simply filing a return. When appropriate, we also help clients identify opportunities for year-round tax planning so they can make more informed decisions before the next filing season.

    Keystone Tax serves clients in Eau Claire and throughout the Chippewa Valley with personalized tax preparation and proactive tax guidance.

  • What should I bring to a tax preparation appointment?

    The documents you need will depend on your situation, but they may include income documents such as W-2s and 1099s, retirement-income statements, Social Security forms, investment tax documents, business records, and information about potentially deductible expenses or tax credits.

  • Can Keystone Tax help me after my tax return has already been filed?

    Yes. Tax planning does not have to stop when your return is filed. Keystone Tax provides ongoing tax planning and support so clients can prepare for financial changes and future tax obligations throughout the year.

  • How do I schedule an appointment with Keystone Tax?

    You can schedule a free consultation through Keystone Tax’s website or contact the Eau Claire office directly at 715-835-6022

New Book

New Book

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The Journey Ahead, written by seasoned financial advisors Couture and Becker, addresses what they see as a pervasive crisis of financial illiteracy sweeping across America, from the heartland to the coasts. Their book empowers readers with the tools and knowledge to plan for a more secure financial future and confident retirement. With a heartfelt motto, “you have the power to change your story,” they shed light on some of the common financial pitfalls that plague many and offer actionable strategies.

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Tax Savings & Solutions

Our tax experts have the skills and know-how to make sure you meet all your tax obligations without paying a penny more than you owe. If you have tax problems, we'll help you resolve them and get a fresh start.

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Integrity & Responsibility

Trust is the cornerstone of a successful business or financial relationship. From providing honest advice based on sound analysis to saving trees with paperless options, we hold ourselves to the highest standards of client service. That means peace of mind for you.

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Peace of Mind

Whether it's family financial security or the ongoing growth of your business, long-term success comes only with in-depth analysis and careful planning. We have the knowledge and expertise to set you on a solid path toward your goals, so you can relax.