Detailed Depreciation Schedule (i.e. for each asset: description, cost, date acquired, method of depreciation, estimated years of useful life, accumulated depreciation, and any Section 179 and Bonus Depreciation amounts claimed in prior years). Usually your prior accountant can easily print this report for you.
We may e-mail you with questions if any transactions are unclear to us, and occassionally request that you fax additional documents to us using our toll-free fax line. If you don't have all the documents handy (or this is your first year of business and it will take some effort to gather the info to answer all the IRS and state questions) don't panic. You can save your work and go back to it at your convenience as many times as you want whenever you want. We designed our patent-pending software to make tax time far less taxing on you.
Q: How long will it take me to input the required tax data?
A: Each online tax interview is customized to your situation, and people each work at different rates, so the amount of time it takes you for your specific situation can vary substantially from others. However, most business owners say they spend between one to two hours gathering the 5 documents needed and answering the questions online.
Q: Your price is a bargain! How can you afford to provide high quality professional services at such a discount compared to most other corporate tax specialists?
A: We have spent years designing our patent-pending software to enable you to easily input the clerical data. This allows us to concentrate almost all of our efforts on the professional level work of reviewing your data to cut your tax bill and help you avoid audit-generating mistakes in a small fraction of the time it takes most CPAs to gather, sort, input, and perform other low-expertise clerical work before they can even start to prepare your business return. We are simply passing on the time savings to you in hopes that you will refer other business owners to our service.
Q: What do I get for my $600?
A: We will seek tax-saving and audit-minimizing options for your business, then prepare your federal and one state income tax return for your partnership, S-corp, or C-corp company. We charge a very low additional $25 fee for each additional state return. You can also get your annual corporate minutes prepared at the same time for only $80 more. If you want to have your return prepared faster than most other clients, we offer an expedited service for an additional $200. Once you have input all your data in our secure server, we will prepare the return, look for tax-saving ideas for you as well as major audit flags, e-file your federal return, and notify you when your return is available for you to log in and download in a PDF format. Your file copy will have all the federal and state return forms and worksheets. A second file will contain the minutes (if you ordered this service) ready for you to print and insert into your company Minute Book. The third file will contain just the state returns (including mailing envelope inserts) for you to print and mail (since most states do not yet accept business e-file). As states develop business e-file capabilities we will e-file those returns as well, and this third file will eventually become unnecessary in future years. If you prefer to have your copy on CD we will burn and mail a CD to you for an additional $25, or a paper copy for an additional $50 (although you can provide either of these services for yourself by simply burning or printing the download from our secure server).
Q: Can you prepare all those returns timely? Will I be extended?
A: Our staff is committed to professionally preparing returns as swiftly as possible, and they are able to handle a far higher volume due to the time-saving efficiency of our patent-pending software. However, we process returns on a first in/first served basis. With such a short filing season (business returns are due a month before personal returns), if you send us your data within a few weeks of the deadline we will extend at no additional cost to you. We also offer an expedited service for an additional fee that moves you ahead of non-expedited clients to assure faster preparation.
Q: Is this one time tax preparation, or ongoing support?
A: You decide. We prefer to develop an ongoing relationship with you so we can give you the maximum personalized help towards meeting your long-term goals, but there is no commitment on your part. We also have a FREE Tax Tips newsletter to help you keep on top of the latest ideas and developments quickly and easily. Returning clients can cut input time further, since our unique software carries forward the data from last year, saving you valuable time.
Q: What happens if I am slow completing the online interview?
A: We may have to extend, and you are responsible for penalties if you take too long to complete the interview and send us your information after the extension deadline. To keep our fees low, they are non-refundable. However, we will prepare your return whenever you send us the data, no matter how late.
Q: I forgot to file my returns for several years. Can you help me with that?
A: Yes, we prepare returns for however many prior years you need. We can also help you with your personal returns as well. If you owe back taxes as a result of this situation you can use one of our sister websites to have our staff negotiate a payment deal with the IRS and/or state.
