145 N. Lakeshore Drive, Suite 9, Lake Junaluska, NC 28745

Lake Junaluska in North Carolina with mountain background.
Lake Junaluska in North Carolina with mountain background.

Professionalism in tax preparation, planning and accounting saves you time … and money.


Services


We go beyond Tax Return preparation to provide Tax Planning. Proper planning helps individuals and businesses pay only the necessary taxes.

Our comprehensive payroll services for small and medium size businesses include employer and employee logins.

Done right, real estate investments and rental property can provide tax savings. The associated bookkeeping also requires a comprehensive understanding.


Business owners are good at what they do. We bring the bookkeeping and accounting services to help you focus on profitability.

IRS notices in the mail can cause fear. We help you navigate the complexities of examinations and collections to resolve your tax matter.

have many compliance requirements. We provide reports for Tax Returns and state licenses, Form 990 preparation, and fund accounting systems.

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Tax Blog

  • …but you’re not a CPA!

    There are many different credentials among tax and financial professionals, and even for a professional office like ours, the variety of credentials can get confusing. The CPA license is the most common among tax and accounting matters. It is widely recognizable, and the public associates the CPA with income taxes and accounting. However, it is…


  • Cryptocurrency Taxation After The Jarrett Case

    Blog post by R. Joseph Ritter, Jr. CFP® EA A client recently made me aware of a federal court case involving cryptocurrency taxation. This post will review how the case may impact the future of cryptocurrency taxation. In Jarrett v. USA, the taxpayers correctly reported their cryptocurrency transactions on their tax return but then requested…


  • From Passive to Non-Passive:
    Real Estate Investments

    Real estate by default is treated as a passive activity for income tax purposes. This means that passive income is included in Adjusted Gross Income, however, passive losses can only be offset by other passive income. In many cases, real estate investing can produce tax losses, and while taxed as a passive activity, the use…


R. Joseph Ritter, Jr. CFP® EA

Leah Ritter, CB – Certified Bookkeeper and QuickBooks Online Certified ProAdvisor

  • Experience – 15 years as a senior paralegal in private law firms; became an independent, self-employed professional in 2014.
  • Credentials
    • Enrolled Agent – Elite status, highest federal license granted by the IRS with unlimited practice rights, and sets us apart as a tax specialist. The EA license permits us to represent all taxpayers on any tax matter before the IRS in all 50 states. The Enrolled Agent enjoys the same privileges before the IRS as an attorney and CPA.
    • CERTIFIED FINANCIAL PLANNER(TM) Professional – the gold standard in the financial planning industry.
    • Certified Bookkeeper – expert bookkeeping credential granted by the Association of Independent Professional Bookkeepers
    • QuickBooks Online Certified ProAdvisor – demonstrating our commitment to professionalism and comprehensive understanding of bookkeeping and QuickBooks Online to better assist our clients.
  • Community
    • Advisory Board Member for the Accounting Program, Haywood Community College, Waynesville, NC
  • Affordability – hourly rates and preparation fees on par with the national and regional averages.

I am proud to be paying taxes in the United States. The only thing is — I could be just as proud for half the money.” Arthur Godfrey

Somerset Tax Partners, LLC helps you avoid paying more tax than is your American duty. Missed deductions, overlooked tax code provisions and unfamiliarity with tax rules contribute to more taxes than you have to pay. Tax planning helps to find opportunities that can reduce your exposure to income taxes.

What We Offer

Individuals

  • Personal attention in tax return preparation.
  • Affordability in representation before the IRS and state/local taxing authorities in audits and examinations.
  • Tax relief through Offers in Compromise, Equitable Relief and Innocent Spouse Relief.
  • Advocacy in installment plan requests, currently not collectible status, collections and tax liens and levies.
  • Extensive experience with Affordable Care Act and Premium Tax Credit issues.
  • Experience in preparing amendments to previously filed tax returns.
  • Compassion with elderly clients through elder care accounting, cash flow management, maintaining financial records and developing relationships with family members and fiduciaries.
  • Specializing in clergy income taxes – listen to a podcast!
  • … and more!

Businesses

  • Expert guidance with business taxes, S-Corp and C-Corp selection, operation and tax return preparation.
  • Full service payroll with employer and employee login, direct deposit, e-filing and direct debit of payroll taxes. Contact us for pricing.
  • Full service business bookkeeping using QuickBooks Desktop and QuickBooks Online (and, we’re a QuickBooks Online Certified ProAdvisor!).
  • Sales tax return filings.
  • Tax planning to maximize efficiency in tax liabilities.
  • Establishing non-profit organizations and filing Forms 990.
  • … and more!

Fiduciaries

  • Estate and Trust income tax return preparation.
  • Estate and Trust Accounting preparation.
  • Elder care accounting.