FAQS
The Answers You Need
WHAT ARE YOUR SERVICE FEES?
Pricing depends on many factors. Tax preparation pricing depends on the complexity of the return for individuals. For small business owners, factors such as the industry you are in, number of accounts, time, organization, etc., determine the price. Prices vary depending on the need of the client.
DUE TO COVID-19, DO I HAVE TO COME TO THE OFFICE TO RECEIVE SERVICES?
No! Thanks to modern technology, pretty much any and everything can be done online. We have a client portal where you can securely and safely send and receive documents online.
IS THE OFFICE OPEN TO VISIT?
Yes! Stop by anytime or make an appointment to avoid the wait. We are open to assist clients in the office, however we do follow all CDC guidelines and take the customer's and employee's safety very seriously.
TAX FAQS
DO I HAVE HAVE TO PAY TAXES ON UNEMPLOYMENT BENEFITS?
Unfortunately the answer is YES. It was recommended to pay at least 10% federal taxes on unemployment benefits to prevent a tax liability. But don't panic just yet, there are other factors that determine whether you'll have a tax liability or not such as total income, qualifying credits, deductions, etc.
CAN I DEDUCT MY PAYROLL EXPENSE IF I RECEIVED A PPP LOAN?
As of right now, if your loan was forgiven, you can not deduct the amount of the loan as a payroll expense. If you have to pay back the loan, you may. Guidelines are changing day to day but we will ensure to stay on top of any updates as they come in.
IF I WORKED FROM HOME, CAN I TAKE THE HOME OFFICE DEDUCTION?
The home office deduction is for business owners who use part of their residence as an office. If you are an employee for another company, you can NOT take the home office deduction.
HOW LONG SHOULD I KEEP MY TAX RECORDS FOR?
3 years.
I DIDN'T RECEIVE MY STIMULUS CHECK THAT I QUALIFIED FOR.
People that qualified but didn't receive their stimulus check, for various reasons, can claim the Recovery Rebate Credit on their 2020 tax return. It's a refundable credit for the amount of the stimulus that was not received