Frequently asked questions

Taxes

Can I file my taxes online?


Yes! You can file your taxes online by going to "Services" at the Main Menu and clicking on Personal Taxes. You will see a "Start" Button. Click it and follow instructions on the questionaires.




How long does it take to get my refund?


It takes 21 days for you to receive your refund. A lot of times it will come within 2 weeks from IRS receiving your taxes. You can always check your refund by going to "Services" and clicking on "Personal Taxes" and then "Get Status".




What do I need to bring to my tax appointment?


We will need the following from all taxpayers:

  1. Identification(s)
  2. Income
  3. Expenses
  4. Proof for any credits claimed on your tax return.
  5. All signatures before the return is sent to the IRS.




When is the earliest I can file my tax return?


When you get your W-2, you can have your taxes prepared right away, but the IRS will not accept them before a pre-defined date. This date differs from year to year.




Do I have to pay taxes on money i received as a gift?


No. The federal tax laws do not consider gifted money to be earned income therefore it is not taxable to you. No state has a tax law on gifted money either.




Why should I file my taxes electronically?


The main reason for filing taxes electronically (e-filing) is to get your refund faster. Twenty-four hours after sending your tax return, the IRS will send you a confirmation of receipt or a rejection notice. Generally, e-filing is safer and faster than filing on paper.





Bookkeeping

When should I hire a Bookkeeper?


You should hire a bookkeeper as soon as you start your business. This way you’ll avoid mistakes from the beginning and reduce headaches. Depending on your needs our bookkeepers can complete a full year's bookkeeping in as little as 3 hours time. If that's all it takes, can you do it in less time?




How Much Does it Cost To Outsource your Bookkeeping and Payroll?


Outsourcing is cheaper than hiring an employee because: => Save time spent managing the bookkeeper => Save health insurance, pension or other benefits => Save employee liability or other legal problems => Save office space needed (convert that desk to a sales position) => Save money on phone lines, computers, software or other overhead costs => Save hiring and training costs, no replacements during vacation => Save wasted time on non-revenue generating activities => Save expensive CPA charges to fix errors => Eliminate employee drama and management headaches. => Save money on vacations, holidays or sick days => Save money on matching social security payments, unemployment insurance or disability insurance The bottom line is this…I can do your books for half the cost of doing it in house!




How can I pay for your services?


We accept Visa, MasterCard, Discover and American Express credit cards. You can also pay us by cash, money order or check.




Can you help me accurately track expenses and manage cash flow?


Not only will you be able to track expenses and manage cash flow, but the hundreds of other reports that are available through the QuickBooks program will enable you to effectively and accurately manage your business.





IRS Problems

I received a notice from the IRS! What should I do?


The IRS sends tax notices for many different reasons. They may be requesting information concerning a past-due account balance or may be initiating a brand new tax audit. We have listed some of the more common IRS notices below, but all IRS notices should be taken seriously. No matter how minor the notice may appear to be, it should not be ignored. If you need any assistance, please contact us and we can advise you as to the proper course of action in dealing with the IRS.




I paid my tax bill late. IRS sent me a notice with penalties and interest. What should I do?


If you need more time to file your tax return, then you can file Form 4868, which will extend the due date of your return for six months (individual returns only). However, the extension for filing your taxes is NOT an extension for paying your taxes. If you owe taxes, you must pay the tax due in full by the due date of the return, or the IRS will assess interest and penalties on the balance.
In certain circumstances, taxpayers can ask that a tax penalty be removed, or “abated.” This is where you ask the IRS for a waiver of the penalties based on what is called “reasonable cause.” The IRS will waive penalties in some cases, along with the interest associated with any of the penalties they remove. Some examples of “reasonable cause” include serious illness, death, divorce, natural disasters, war and other unexpected and traumatic events. We have extensive experience in filing penalty abatement requests. Please contact us to see if we can assist you in getting the burdensome tax penalties removed from your account.




I have old IRS debt. How do I handle this situation?


Generally, the IRS has 10 years from the date that the tax liability was assessed to collect any back taxes that are owed. In many cases, the ten-year date starts to run when the tax return was filed or when additional taxes were assessed as the result of an audit. There are many variations to determining when the ten-year date actually expires. We can assist with ordering IRS computer account transcripts and analyzing them to determine when the IRS will no longer legally be permitted to collect your tax debts. In some cases, the IRS collection statute is expiring soon and “doing nothing” may be the most attractive option available.




I owe IRS payroll tax. What should I do?


The IRS looks at payroll tax liability cases as a major priority. In fact, these cases rank higher on the IRS scale than do income tax audits, primarily because the IRS views these cases as “theft” cases. Payroll taxes are considered a trust tax, which means that it is your responsibility as the business owner to withhold some income and employment taxes from your employee’s wages and pay it over to the government. You will need to get this tax issue handled immediately or the IRS will make good on its threat to shut down your business. Furthermore, the IRS can go after you personally (and any other responsible parties) for the amount of the trust fund portion of the employment/payroll taxes. This type of tax issue should not be handled without professional representation.





Notary Public

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