There is no fee for an initial consultation, whether in person or on the telephone.
Tax Return Preparation
Tax returns are billed at a rate of $75 per hour, with a minimum of one hour per return. Some firms charge at a set rate for each form and schedule required to be prepared for a complete return. AccompTax, Inc. believes hourly billing provides greater value to clients in the form of lower fees. The more organized and summarized a client's records are, the less time is needed to prepare returns, saving taxpayers money. Unless there are major changes in clients' tax related activities, the fee will be consistent from year to year.
AccompTax provides electronic filing for tax returns. There is no additional charge for this recommended service, which provides refunds faster, whether by direct deposit to a bank account, or by mail. Even if a return requires a payment instead of a refund, electronic filing provides verification that the return has been received. Instead of mailing in paper forms, a taxpayer just sends in a check with a payment voucher. No mailing at all is needed if payment is authorized with a direct debit to a bank account or payment by credit card. Taxpayers who electronically file are given a copy of their return on paper or on an e-mailed PDF format document.
AccompTax, Inc. does not prepare tax returns in the client's presence. This allows time for review and thorough analysis of any variations from the previous year. Substantial variations are documented with a worksheet showing the effects on the tax calculation. Many preparers do not adequately explain to people why their taxes increased or decreased significantly from one year to the next. Tax return information can be submitted in person, by mail, by fax, or scanned and transmitted by e-mail. Follow up questions can be answered by telephone or e-mail. Many long time out of town clients have never met the firm's president personally.
Bookkeeping services for businesses are charged at a rate of $40 per hour. Once a regular periodic routine is established for this work, the fee seldom varies for the recordkeeping period, whether monthly or quarterly.
Financial Statement Preparation
Financial statements for businesses are prepared at a $75 hourly rate, with a one hour minimum.
Consultations and Research
There is no charge for routine telephone discussions and answering e-mails. If a need for research results from the communication, this is invoiced at $75 per hour.
Delinquent Tax Payment Arrangements
Many firms representing taxpayers to arrange payment of back taxes charge an up front fee that may be several thousand dollars. This is without knowing the details of the delinquent situation nor the payment ability of the taxpayer. AccompTax, Inc. uses a different approach.
For $250, AccompTax will prepare and file a Power of Attorney form signed by the taxpayer, obtain transcript records of each affected tax year, and provide the appropriate financial disclosure form to the taxpayer for completion. Then, the form is evaluated in accordance with the available options from the collecting tax jurisdiction. The likely payment requirement for each choice is then presented to the client.
If you decide to continue using the firm's services, you will be charged $75 per hour for AccompTax to complete application forms, review documentation, and discuss the case with tax agency personnel.
In the future, if a taxpayer wants to reestablish a defaulted payment plan or try a different payment alternative, the fee structure begins again, as a new case. This is because most agencies require current financial information to reassess what type and amount of payment they will accept.