Our fees are determined based on the complexity of each client's unique tax and financial situation. Some major factors include:

For individual tax returns, our minimum fee is $300 which includes your federal and one state tax return preparation and e-filing. The minimum fee for business entity returns like partnerships, S-corps and trusts is $1,000 which also includes a state filing.

From those starting points, fees may increase incrementally based on aspects such as:

• Overall complexity including the type of return (personal, corporate, trust, etc.)

• Number of filing jurisdictions if there are multiple states or international transactions/accounts

• Inclusion of additional schedule types like for businesses, rentals, or farms (Schedules C, E, and F)

• The accounting work and bank reconciliations needed if we perform your bookkeeping

• Number of follow up information requests or back-and-forth questions asked during the engagement

• General responsiveness and organization of documentation provided

The fees listed on each engagement letter are customized to reflect our time investment based on what we anticipate needing to prepare and file complete and accurate tax returns for each unique client. Please feel free to inquire with us if you need an estimate!

Being organized for your tax appointment is key to making the most efficient use of your time with us and ensuring we have all the necessary information. Here are a few tips:

• Review the checklist we email detailing the specific documents needed. Gather all materials ahead of time rather than waiting until the meeting.

• If you don't receive an email, common items to assemble are prior year tax returns, all W-2 and 1099 forms, income/expense summaries, and any notices from the IRS. Remove all forms from envelopes and review for accurate information (name, social security number, address, and payment amounts). Do not staple documents together.

• For business clients, have QuickBooks or accounting records updated and ready for review. Print out a profit & loss statement and balance sheet.

• Make a list of any major life changes over the past year (new child, job change, retirement, new business, etc) to discuss impact.  

• Note down any questions that have come up as you collected documents or concerns about past filings.

• Arrive 5-10 minutes early to complete any additional paperwork and settle in.

Preparation is key - it saves time, provides us a complete picture, and enables us to offer more robust guidance. Don't hesitate to call ahead if any questions come up while gathering materials! We look forward to meeting with you.

Absolutely! At our firm, tax preparation represents only part of the picture. We provide tailored tax planning, projections, and advice 12 months a year - not just during the frenzied filing season.

Whether you're an individual or business, our team can help assess current tax scenarios for opportunities, guide decision making that optimizes your tax positions, and plan approachably for short and long term liability management.

Some examples of year-round support we provide are:

• Quarterly estimated payment planning

• Tax impact analysis on major financial decisions

• Retirement withdrawal strategy reviews

• Projecting tax changes in future operating plans

• Volatile income stream smoothing recommendations

The list goes on and on. The bottom line is we become a trusted member of your financial team beyond just compliance filing. Let us know how we can lend guidance through proactive consultations tailored to your unique tax circumstances.

We understand that seeing a letter from the IRS about being selected for audit can be intimidating and stressful. If this does occur, rest assured our years of experience guiding clients through audits puts us right by your side every step of the way.

First, only a small percentage of returns are audited and there are various reasons filings get flagged - so try not to panic. We start by reviewing exactly why your return was selected and the specific documentation being requested.

Next, we strategize the most appropriate responses and make sure you fully understand the game plan going forward. Typically we handle all direct communication and information submission to the IRS on your behalf with power of attorney.

Our goal is always providing complete, prompt and courteous cooperation to facilitate the quickest resolution with as little financial impact as legally possible. Most audits conclude with relatively simple clarification or small balance adjustments. However, on the rare chance of a prolonged dispute, we partner with specialized legal resources to ensure expert defense of your filings.

The bottom line - if you ever receive that audit letter, stay confident knowing we make the process as painless as possible and fight rigorously for your best possible outcome every step of the way.

No worries, this is a common situation we can easily resolve! As soon as you realize anything is missing from your filed tax return, just gather up the related documentation and notify us.

If additional tax is owed, we simply prepare an amended return with the missing information.

If the missing data results in additional deductions or credits lowering the tax you paid, then we take care of claiming those timely on your behalf and secure the maximum refund.

The key is contacting us promptly before the IRS first reaches out about discrepancies. Taking the proactive step eliminates stress down the road. We’ll calculate the precise next steps specific to your unique correction needed. Quick, voluntary disclosure is key for a smooth process.

Our goal is ensuring every client has the most accurate, complete filing possible. Never worry about needing revisions - just let us know ASAP if anything comes to light so we can resolve seamlessly!

The specific business tax forms required for your company depend on your legal entity structure. Here's a general guide:

Sole Proprietorship:

   • Schedule C (Form 1040): Profit or Loss from Business

   • Form 1040: U.S. Individual Income Tax Return

Partnership:

   • Form 1065: U.S. Return of Partnership Income

   • Schedule K-1 (Form 1065): Partner's Share of Income, Deductions, Credits, etc.

   • Each partner reports their share of income on their individual tax returns using Schedule E (Form 1040).

Limited Liability Company (LLC):

   • For single-member LLCs: Schedule C (Form 1040) and Form 1040.

   • For multi-member LLCs: Form 1065 and Schedule K-1 for each member, who will then use Schedule E (Form 1040) to report their share of income.

S Corporation:

  • Form 1120S U.S. Income Tax Return for an S Corporation

   • Schedule K-1 (Form 1120S): Shareholder's Share of Income, Deductions, Credits, etc.

   • Each shareholder reports their share of income on their individual tax returns using Schedule E (Form 1040).

C Corporation:

   • Form 1120: U.S. Corporation Income Tax Return

Additionally, depending on the nature of your business and specific transactions, you may need to include various schedules and additional forms. It's crucial to gather all relevant financial records, including income statements, expense receipts, and supporting documentation for deductions.

Keep in mind that tax laws and forms can change, so it's recommended to consult with a tax professional or CPA to ensure you're using the most up-to-date forms and accurately meeting all tax obligations for your business.

We generally recommend keeping tax returns and supporting documentation on file for a minimum of seven years. The IRS can go back and audit returns for up to three years. However, they can request up to six prior years if they suspect substantial underreporting of income or fraudulent activity.

Additionally, the statute of limitations time period gets extended from three to six years if the tax return omits amounts in excess of 25% of gross income. So keeping at least six years of past returns ensures you have all records necessary if ever audited down the road.

An extra buffer of one additional year covers the rare cases where filing extensions or other unique circumstances further lengthen that IRS review window.

The bottom line is maintaining easy access to at least seven years of previous tax documents helps avoid potential hassles or penalties perpetuated by lost data. Electronic copies stored securely in the cloud provide protection with little space. And rest assured, we keep copies of client returns should records ever become misplaced. Let us know if any other questions!

It's important to understand that while a tax extension provides more time to submit your return documents, it does NOT extend the deadline to pay any taxes owed.

Specifically, by filing an extension you push the paper return deadline back 6 months from April 15th to October 15th. However, any amount you estimate is still owed for that tax year remains fully due on the original standard deadline of April 15th.

So, if you end up needing to make a payment when you eventually do complete the return, interest and penalties apply retroactively on any unpaid tax not settled by 4/15.

The extension is only related to DOCUMENTS. The CASH owed stays firmly due at the normal federal/state deadlines. We can help estimate what may still be owed if uncertain when requesting an extension.

Bottom line - file the extension paperwork with us by April 15th if more time is needed to prepare your return. But be prepared to pay the estimated taxes to avoid any interest or penalties down the line. Let us know if any other extension-related questions come up!

If you believe your tax return results in an incorrect amount owed or inaccurate refund, please notify us right away to discuss your concerns. There are a few potential options depending on the specifics:

First, we will review your return, step-by-step together to understand exactly where the discrepancy lies and if any simple math or data errors may have occurred. Sometimes double checking a few key components solves the issue.

If that all looks accurate, we can explore amending the most recent filing to correct certain deductions or calculations that may have been incorrect or missed. Depending on what changes, this could alter the final amounts in your favor.

Finally, if an amendment won't rectify the situation, we can initiate a formal appeals process with the IRS disputing their assessed amounts. We act as your ongoing representative communicating evidence and reasoning until a suitable settlement is reached.

No matter the cause, our team has the expertise to audit your situation and determine the most strategic response. We'll clarify next steps so you feel confident we're working diligently to resolve the payment or refund abnormality. Let us tackle this directly with the IRS so you can breathe easy!

Thanks for understanding our industry experiences profound capacity constraints and personnel limitations during the tax preparation crunch from February-April 15. To set realistic turnaround expectations, we suggest the following timelines:

Personal Tax Returns:

• Simple filings (one W-2, limited deductions): 10-15 business days

• Complex filings (investments, rental income, etc.): 15-25 business days

Business Tax Returns:

• Pass-through entities (Partnerships, S-Corps): 14-21 business days

• Corporations: 21-30 business days

The unique attributes of every tax scenario prevent concrete promises. But we strive to complete quality, accurate returns balancing speed and precision as rapidly as capacity allows given tremendous seasonal demand.

Communication is vital so we can align on expected timeframes for your specific business or personal tax prep needs in advance. We may be able to identify options like filing an extension if more time is required. Our goal is avoiding any surprises through transparency around average completion timelines. Just ask for estimates!

Yes, our firm electronically submits all eligible tax returns directly to the IRS and state agencies for the fastest possible processing. E-filing prevents delays that can accompany mailing paper returns.

In terms of refund timing after filing, the IRS estimates most e-filed returns with direct deposit requested are processed within 21 calendar days of acceptance. State refunds generally follow a similar timeframe after confirming with the IRS.

So once we confirm your e-filed return is accepted free of errors, build in approximately three weeks to receive any expected refunds via the preferred direct deposit method. Refund checks mailed take slightly longer at around 6 weeks. We proactively confirm once refunds are scheduled for issuance by the IRS.