Frequently Asked Questions
TAX PLANNING & PREPARATION
What tax services do you offer?
We provide a range of services including individual and business tax preparation, tax planning, IRS representation, and guidance on tax-saving strategies.
How do I know if I need tax consulting services?
If you’re unsure about your tax situation, need help minimizing your tax liability, or are navigating complex financial changes, tax consulting can provide personalized advice and strategies to ensure you’re compliant and maximizing your savings.
What documents do I need to bring for tax preparation?
Generally, you will need documents such as W-2s, 1099s, proof of deductions (mortgage interest, medical expenses, charitable donations), and any other relevant financial documents. We’ll provide a full checklist to guide you.
Can you help me with past-due or back taxes?
Yes! We specialize in helping clients resolve back tax issues, including negotiating with the IRS, setting up payment plans, and helping you navigate audits
How do you ensure my tax information is secure?
We use advanced encryption and secure cloud storage to protect your sensitive financial information, and we follow strict privacy protocols to ensure your data is kept safe.
What’s the difference between tax preparation and tax planning?
Tax preparation involves filing your taxes for a given year, while tax planning focuses on developing strategies to minimize taxes in the future by considering your long-term financial goals and tax obligations.
How can your services help me save on taxes?
Our team works closely with you to identify deductions, credits, and other tax-saving opportunities that are specific to your situation, helping you reduce your overall tax liability.
Can you help me if I get audited by the IRS?
Yes, we offer audit representation services, helping you navigate the process, prepare necessary documentation, and ensure you understand your rights and options.
How much do your tax preparation and consulting services cost?
The cost depends on the complexity of your tax situation. We offer competitive pricing and will provide a transparent estimate based on the services you need.
When should I start working with a tax consultant?
It’s a good idea to consult with a tax professional year-round, especially before making any major financial decisions, investments, or business changes, to ensure you’re maximizing deductions and minimizing liabilities.
ENROLLED AGENT
What is an Enrolled Agent (EA), and how is it different from a CPA or tax preparer?
An Enrolled Agent (EA) is a tax professional who is licensed by the IRS to represent taxpayers before the IRS. EAs are specialists in tax law and can handle tax preparation, planning, and IRS representation, unlike CPAs who may focus on broader accounting services.
What services do Enrolled Agents offer?
We provide tax preparation, tax planning, IRS representation, audit assistance, and help with resolving tax issues such as back taxes, penalties, and disputes with the IRS. Our expertise is specifically in tax law and compliance.
How can an Enrolled Agent help me with an IRS audit?
If you’re audited by the IRS, we can represent you, help prepare the necessary documentation, communicate directly with the IRS on your behalf, and ensure you understand your rights and obligations throughout the process.
Can you help me resolve tax issues or back taxes with the IRS?
Yes, we specialize in resolving back tax issues, setting up payment plans, negotiating offers in compromise, and addressing any penalties or interest charges you may have incurred. We’ll work to find the best solution for your situation.
How do I become an Enrolled Agent, and how is it different from other tax professionals?
EAs are licensed by the IRS after passing a comprehensive exam covering federal tax law or having experience working for the IRS. EAs are authorized to represent taxpayers before the IRS, unlike other tax professionals who may have more limited representation rights.
What should I bring to my appointment with an Enrolled Agent for tax preparation?
You should bring documents such as W-2s, 1099s, prior year tax returns, proof of deductions (like mortgage interest, medical expenses, etc.), and any other financial documents related to your income or expenses for the year.
How can an Enrolled Agent help with tax planning?
We provide personalized tax planning services to help minimize your tax liabilities throughout the year. This includes identifying potential deductions, credits, and strategies to optimize your tax situation for the current year and future years.
What is the cost of your Enrolled Agent services?
Our fees vary depending on the complexity of your tax situation and the services you require. We provide a transparent pricing structure and will give you an estimate after discussing your needs.
What is an Offer in Compromise, and can you help me apply for one?
An Offer in Compromise is an agreement between a taxpayer and the IRS to settle a tax debt for less than the full amount owed. We can assist in determining if you’re eligible and guide you through the application process to help resolve your tax issues.
Do you provide year-round tax services or only during tax season?
We offer year-round services, including tax planning, consultation, and ongoing representation for any IRS issues you may encounter throughout the year. We’re available whenever you need expert tax assistance.
ACCOUNTING
What accounting services do you offer?
We provide a wide range of services, including financial statement preparation, business consulting, budgeting, tax planning, audits, internal controls, and more. We tailor our services to meet the specific needs of each client.
How do I know if I need an accountant?
If you’re facing challenges with financial reporting, tax planning, business growth, or navigating complex regulations, an accountant can provide valuable expertise and help streamline your financial processes. preparation.
What’s the difference between an accountant and a bookkeeper?
A bookkeeper focuses on recording daily financial transactions, while an accountant analyzes and interprets these records, offering financial advice, preparing financial statements, and ensuring compliance with tax laws.
Do you work with both individuals and businesses?
Yes, we serve both individuals and businesses of all sizes, providing personalized accounting services for individuals and tailored solutions for businesses, from startups to established companies.
How can your services help my business grow?
Our accounting services provide detailed financial insights, allowing you to make data-driven decisions, manage cash flow effectively, reduce costs, and implement strategies that support long-term business growth and profitability.
What documents will I need to provide for accounting services?
Depending on the services you require, we may need documents such as financial statements, tax returns, bank and credit card statements, invoices, receipts, and payroll records. We’ll guide you through the process and ensure everything is organized.
What is financial forecasting, and how can it help my business?
Financial forecasting involves predicting future financial performance based on historical data, trends, and business plans. It helps you plan for growth, manage risks, and make informed financial decisions.
How do you ensure the accuracy and security of my financial information?
We use industry-standard security measures, including encryption, secure cloud storage, and strict internal controls, to ensure your financial data is accurate, protected, and confidential.
What is the cost of your accounting services?
The cost depends on the scope and complexity of the services you require. We offer transparent pricing and will provide an estimate based on your specific needs.
How often should I meet with my accountant?
The frequency of meetings depends on your business or personal needs. We typically recommend quarterly or annual meetings for business clients to review financial performance and tax planning, but we are available as needed throughout the year.
BOOKKEEPING
What is bookkeeping, and why is it important for my business?
Bookkeeping involves recording, organizing, and managing your financial transactions. It helps ensure your financial records are accurate, making it easier to track your business’s performance, meet tax obligations, and make informed decisions.
What bookkeeping services do you offer?
We offer a wide range of services, including daily transaction recording, bank reconciliation, financial reporting, payroll processing, accounts payable and receivable management, and financial statement preparation.
How do I know if I need a bookkeeper?
If you’re struggling to keep track of your financial transactions, or if you find it difficult to stay on top of taxes, payroll, and other financial responsibilities, it’s a good idea to consider professional bookkeeping services.
Can you help me with QuickBooks or other accounting software?
Yes! We are experienced with QuickBooks and other popular accounting software and can help set them up, provide ongoing support, and train you or your team to use them effectively.
What are the benefits of outsourcing my bookkeeping?
Outsourcing your bookkeeping allows you to focus on running your business, saves you time, ensures accurate records, and gives you access to professional expertise without the cost of an in-house team.
How often do I need bookkeeping services?
The frequency of bookkeeping services depends on your business needs. Some businesses require daily or weekly services, while others may only need monthly or quarterly support. We can tailor our services to meet your specific needs.
What documents do I need to provide for bookkeeping?
You’ll need to provide documents such as receipts, invoices, bank statements, credit card statements, and any other financial records related to your business transactions. We will guide you through the process and make it easy.
How do you ensure my financial data is secure?
We use the latest security protocols, including encryption and secure cloud storage, to ensure that your financial data is always protected.
How much do bookkeeping services cost?
Our fees are based on the complexity and volume of your bookkeeping needs. We offer flexible pricing and will provide a quote based on your specific requirements.
What’s the difference between bookkeeping and accounting?
Bookkeeping focuses on the day-to-day recording of financial transactions, while accounting involves analyzing and interpreting those records to generate reports, assess business health, and provide strategic financial advice.