Frequently Asked Questions
When do I need to file my taxes?
Tax deadlines are based on the type of return you are filing. The filing season officially opens on January 24th for e-filing to the IRS. Most returns are due to be postmarked or e-filed by April 15th. S corporation returns are due by March 15th. More information can be found here at IRS.gov.
What are my options for raising money?
Get some impartial advice before you consult the bank. A bank will want to see a strong business plan and organized records. Let us help you get ready for your business's next step!
When should I contact an accounting firm?
As soon as you start to think about your business, an accountant can help you take the next steps. We can set up your s corporation or limited liability corporation for you, discuss your business's organization, tax purposes and operations, along with profit margins and offer payroll services.
How can I know which accounting group is right for me?
Does your accountant return your calls? Do you feel comfortable asking them a question? Do you feel heard? With the right accountant, the answers should be a resounding "Yes!"
Why have I not received my tax refund yet?
Millions of taxpayers are still waiting for refunds and/or struggling to understand IRS notices saying their refund amounts have been adjusted. The IRS expects to receive another 4 million returns each year by the October 15th tax filing extension deadline.
The good news: The Internal Revenue Service does complete all return filings. If you are due a refund, interest will be paid to you after the filing date. This interest is paid out or due on balances on the following schedule:
- 8% for overpayments (payments made in excess of the amount owed), 7% for corporations.
- 5.5% for the portion of a corporate overpayment exceeding $10,000.
- 8% for underpayments (taxes owed but not fully paid).
- 10% for large corporate underpayments.