Search results for: “engagement”
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A change to my income tax service agreement
IRS knows that if five different tax professionals prepare the same moderately complicated income tax return, there will be 5 different returns with 5 different outcomes in terms of the amounts of income tax liability. IRS also knows that it will receive at least 4 of these 5 submitted returns as filed and accepted tax…
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Third party verification
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Applications for mortgages, business loans, leases, grants, health and life insurance coverage, government subsidy programs and even child adoption frequently trigger requests by entities for independent verification of certain critical information by your accountant. To gain some assurances that the information you provide is accurate these lenders, providers, regulators and various other government and non-government…
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Promotional rate for new individual tax return preparation
Promotional rate for new individual clients: $195. Ask for the “introductory rate” before we prepare your tax engagement agreement. This rate may not be available late in the tax season. Includes: Form 1040 with standard deduction One state tax return Discussion of tax-reducing strategies E-filing with proof of acceptance Return of original documents Additional tax schedules are…
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A simple individual health insurance alternative for small contractors
Help is available to convert employer-paid individual health insurance to the new IRS-permitted payment plans Many small businesses do not offer employee health insurance but want to help employees afford their own individual health insurance. Small contracting businesses are among many who formerly paid for or reimbursed part of the cost of individual employee health insurance.…
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Tax Service Solutions
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An easier way to get personal and professional help with your income tax filings Thank you for choosing me to help you with your taxes. My goal is to give a stress-free tax filing experience. Clear communication plays an important part in this process. This web page introduces the terms of the engagement we will…
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Financial coaching during a divorce
Divorce is a significant financial event. The national average cost of divorce likely exceeds $20,000 but for couples who own a business or other substantial assets the cost can be many times larger. The real cost of divorce is not limited to the legal fees but spills over into otherwise avoidable tax liability and poor…
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How to change the tax reporting of employer health insurance payments
There is a ‘wrong way’ and a ‘right way’ to report a change in employee health insurance payments to avoid payroll tax liability problems Case 1: The wrong way to change employer reporting of health insurance Tom works for ABC Inc. at a salary of $50,000. ABC has no health insurance plan but agreed to reimburse…
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The problem with accountants
Accountants generally enjoy a reputation as the ‘most trusted adviser’. But the problem is that we do our work, get out and move on. That work might be the income tax return, bookkeeping work, or some other well-defined engagement. General financial advice is too often an unplanned side benefit of our work. Accountants who don’t define and…
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My two rules about tax preparation fees
My tax return preparation fees are bench-marked with published industry averages to ensure that I won’t be the least expensive and won’t be the most expensive. But my practice is based on adding substantial financial value through long term relationships, not competing on price with an average tax preparation service. Two specific rules that I…