(617) 794-4084 / taxes@taxaway.com
This is a summary of my services for the benefit of new clients or
for those who are requesting assistance other than tax preparation.
Tax preparation services are offered year-round, by appointment only. My services include electronic filing (through the mid-October extension deadline), penalty and interest guarantee on any preparation error, and backup of your tax data for six years. Areas of specialty include individual, nonresident alien, and multiple states. I also prepare fiduciary (estates and trusts) and gift tax returns. In addition to tax preparation, I offer consultations and audit representation, most occurring after/before the tax season.
My prices are considered reasonable without sacrificing accuracy or quality, and you can be assured that I stand by my tax preparation services. Even in a situation in which I would explain that something you want to deduct is not deductible, you can have confidence that your tax return will be prepared as to give you the lowest legal tax liability. I offer penalty and interest guarantee if the IRS or state tax authority assesses any deficiency due to preparer error. You can contact me throughout the year for follow-up questions and general tax advice.
The distinction with my practice is that I explain your tax return to you using straightforward, non-technical terms as much as possible, so you can be confident in the preparation and have an understanding of your tax situation. It's a relaxed but still professional setting, a private office with some of the comforts of home. (And most importantly, a complimentary cup of coffee or spring water while we meet!)
Haven't filed past tax returns? No time like the present!
While it is important to timely file a tax return (by the due date or with an extension) if you are required to do so, there is no late penalty if you are due a refund. However, there is a three-year statute of limitations in claiming a refund (or two years after the tax has been paid, whichever is later). On the other hand, if you haven't filed, the IRS can require you to file any unfiled years and be subject to penalty and interest on any balances due.
Advice:
- Always file your tax return, even if you owe. The penalty is greater on the nonfiling than on the underpayment.
- If you haven't filed a return when you were required to do so, best to face the music/pay the piper/[insert your favorite cliche] and do so now, rather than worry if the IRS will contact you.
- Keep your tax return and supporting documentation for at least three years; six years is best if there's a chance you may have overlooked reporting some income; keep records concerning stock purchases and depreciable business purchases as long as the assets are still owned.
Offered primarily during the 'offseason,' i.e., the summer and fall. Starting a business and need a little help with understanding what estimated tax payments to make or what expenses are deductible? Need advice on adjusting your W-4 withholding because of increased income? Thinking about renting out part of your home? Planning on retiring? If you have a couple general questions, this is provided on a complimentary basis and can be done via email or phone. Otherwise, consultation fees for new clients are $50/half hour, $15 additional quarter-hours. A 30-60 minute consultation is sufficient in most cases. If the consultation converts into tax preparation, some of the fee will apply towards the tax preparation fee.
As an enrolled agent, this is a category of tax professionals authorized to represent taxpayers before the IRS, such as when the taxpayer has been selected for an audit. Most IRS letters are notices such as CP2000 (CP means computer paragraph) proposing changes based on discrepancies reported on your tax return, or notices requesting further information. As the preparer of the tax return, there is no additional charge for resolving these types of notices.
I also offer a complimentary 15 minute meeting for non-client taxpayers who may need a little help in understanding their notice and what options they may have, although sometimes an extended meeting time may be needed.
If you have received a notice that you are being audited and scheduled for an appointment with an IRS examiner, my fees for audit representation will be $50 per hour for any research, document compilation and preparation time necessary to prepare a proper representation for you. Representation during the office examination is charged at a $65 hourly rate. You will need to sign a Power of Attorney form which authorizes me to represent you for the specified tax matter and period(s) being audited.
Please see the audit section for further details on these possibilities.
Electronic Federal Tax Payment System is the online system with the US Treasury in which individual and business taxpayers can schedule automatic payments of their tax liabilities. For example, this is beneficial for a self-employed taxpayer to set up quarterly estimated tax payments and avoid possible penalties if forgetting to mail in a payment. Because of the necessity of periodically evaluating a client's tax situation, I offer this service for current tax preparation clients only. An account will be established in the EFTPS and payments will be scheduled, as well as determining appropriate ongoing payments, of which I will notify you by email throughout each year before the debits occur. This includes state payments if the particular taxing state authority has an automatic online system. This service can continue each year as the client requests. A signed Power of Attorney form is required.
Finally, if facing a large tax balance due, an option which can help taxpayers deal with that situation would be an installment agreement request. This cuts the late payment interest rate in half and allows the taxpayer to make scheduled periodic payments. The IRS must accept this agreement (under the Fresh Start provision) if you cannot pay the balance due in full, the balance is not over $50,000, and will be paid in five years or less. There is a user fee added to the agreement. My preparation fee for an installment agreement request for non-tax clients is $35, which is advisable to be set up as online debit payments, and this is accomplished during a short in-office consultation meeting.