Frequently Asked Questions...
WHEN SHOULD MY TAX DOCUMENTS BE SUBMITTED BY?
Friday, March 1, 2024
This is the date that all your tax documents must be submitted to us to guarantee that you can
file your tax return by the April 15, 2024, filing deadline. We do know that sometimes you just
have one or two documents that have not arrived by this March 1, 2024, date. If you do not
have K-1s you are waiting for, don’t let this delay the submission of your other data. Please
submit all that you have and then send us the K-1(s) when they arrive. If we find you have not
submitted a complete tax package by our March 1 turn in deadline, we cannot guarantee
completion of the return by the IRS deadline of April 15, 2024.
This is the date that all your tax documents must be submitted to us to guarantee that you can
file your tax return by the April 15, 2024, filing deadline. We do know that sometimes you just
have one or two documents that have not arrived by this March 1, 2024, date. If you do not
have K-1s you are waiting for, don’t let this delay the submission of your other data. Please
submit all that you have and then send us the K-1(s) when they arrive. If we find you have not
submitted a complete tax package by our March 1 turn in deadline, we cannot guarantee
completion of the return by the IRS deadline of April 15, 2024.
WHAT IS THE NORMAL TURNAROUND FOR A TAX RETURN?
Our normal turnaround for a tax return is four weeks. As the filing deadline draws nearer and volume
increases, we do move closer to a five or six-week turnaround. We will reach out to you via email if we
require additional information or documents to complete your tax return. An email will be sent when
your return is complete with a summary of your 2023 taxes, including the balance due (if any). If you
have any questions regarding your return after you have reviewed it, please contact Maureen and she
will assist with getting your questions addressed.
If you miss our cutoff date (Friday, March 1st), we can still complete your tax return, but we will not
commit to filing it before the IRS April 15th deadline. If it is critical your return is filed by April 15 th , 2024,
then we may accept a rush arrangement on a case-by-case basis. Our typical rush fee is $250, but this
may be waived or increased depending on your situation.
increases, we do move closer to a five or six-week turnaround. We will reach out to you via email if we
require additional information or documents to complete your tax return. An email will be sent when
your return is complete with a summary of your 2023 taxes, including the balance due (if any). If you
have any questions regarding your return after you have reviewed it, please contact Maureen and she
will assist with getting your questions addressed.
If you miss our cutoff date (Friday, March 1st), we can still complete your tax return, but we will not
commit to filing it before the IRS April 15th deadline. If it is critical your return is filed by April 15 th , 2024,
then we may accept a rush arrangement on a case-by-case basis. Our typical rush fee is $250, but this
may be waived or increased depending on your situation.
WHAT IF I NEED AN EXTENSION?
Please let us know by April 1 if you want us to file an extension with payment for your return.
An extension to file your return is NOT an extension to pay. Taxes are due on April 15 th , so even if you
file an extension, any amount owed is still due on April 15 th . If you want additional information on an
extension payment, please let us know and we can send you our extension payment calculation
instructions.
Penalties for failing to file or failing to extend your return if you are receiving a refund do not apply.
However, we still recommend extending your tax return.
Extended returns will be worked on after April 15th, but our turnaround time might increase during the
off-season to allow our employees to take time off and to work on other business engagements. The
deadline for extended tax returns is October 15th.
An extension to file your return is NOT an extension to pay. Taxes are due on April 15 th , so even if you
file an extension, any amount owed is still due on April 15 th . If you want additional information on an
extension payment, please let us know and we can send you our extension payment calculation
instructions.
Penalties for failing to file or failing to extend your return if you are receiving a refund do not apply.
However, we still recommend extending your tax return.
Extended returns will be worked on after April 15th, but our turnaround time might increase during the
off-season to allow our employees to take time off and to work on other business engagements. The
deadline for extended tax returns is October 15th.
HOW DO OFFICE HOURS AND APPOINTMENTS WORK?
Our office is open from 9:30 am to 4:30 pm on Monday through Thursday. The office is closed to the
public on Fridays and is reserved as a workday so we can focus on completing tax returns.
If you bring your tax documents by the office, you may expect to be met by one of our team members
who will take your documents to be scanned. If you mail or drop off original documents, please let us
know if you wish for them to be returned or shredded. We will maintain these records on your behalf
for seven years. If you want the original documents sent back to you, we will mail these back to you in
May to the address of record on the 2023 tax return. There is a $45 fee for the costs of copying and
mailing.
This year, we will be sending a summary email of your 2023 taxes along with a pdf of your tax return. If
you would like to schedule a time to review the return, please contact Maureen at
[email protected] to set up a time. These are phone appointments and are no more than
15-20 minutes. In-person appointments during tax season may be requested but are on a case-by-case
basis since our calendars are very full at this time of the year. We do want to be sure that all questions
about your tax return are addressed and that you are comfortable with the return prior to e-filing, so
please let us know about scheduling appointments if you have any questions or concerns.
public on Fridays and is reserved as a workday so we can focus on completing tax returns.
If you bring your tax documents by the office, you may expect to be met by one of our team members
who will take your documents to be scanned. If you mail or drop off original documents, please let us
know if you wish for them to be returned or shredded. We will maintain these records on your behalf
for seven years. If you want the original documents sent back to you, we will mail these back to you in
May to the address of record on the 2023 tax return. There is a $45 fee for the costs of copying and
mailing.
This year, we will be sending a summary email of your 2023 taxes along with a pdf of your tax return. If
you would like to schedule a time to review the return, please contact Maureen at
[email protected] to set up a time. These are phone appointments and are no more than
15-20 minutes. In-person appointments during tax season may be requested but are on a case-by-case
basis since our calendars are very full at this time of the year. We do want to be sure that all questions
about your tax return are addressed and that you are comfortable with the return prior to e-filing, so
please let us know about scheduling appointments if you have any questions or concerns.
hOW TO PLAN FOR YOUR TAXES?
One of the top items that held up return completion this year was mileage reporting. Please help us help you working on having this all pulled together now.
If you don’t have this pulled together already, it is time to start working on it. Don’t let this delay the filing of your tax return. For IRS purposes, your log must be able to prove the amount of miles driven for each business-related trip, the date and time each trip took place, the destination for each trip, and the business-related purpose for traveling to this destination and odometer readings at beginning and end so that miles per trip can be calculated..
· Several of our clients have had success using an app called MileIQ.
ÿ Mileage log that includes total BUSINESS miles driven and total PERSONAL miles driven.
ÿ Business Miles _________
ÿ Personal Miles _________
ÿ Commuting Miles _______
If using the standard mileage method, the business miles x the standard mileage reimbursement rate set by the IRS is used for the auto expense deduction.
If using the actual expense method, the percentage of business miles to total miles is allocated to total cost of maintaining the vehicle.
ÿ A mileage log documenting the following is required for each vehicle:
ÿ Mileage for each business use (starting and ending odometer reading) _________
ÿ Time/Date/Place ______________________________________________
ÿ Business Purpose
It is also helpful to document the beginning and ending odometer reading of each vehicle each year to substantiate total miles for the vehicle.
If you don’t have this pulled together already, it is time to start working on it. Don’t let this delay the filing of your tax return. For IRS purposes, your log must be able to prove the amount of miles driven for each business-related trip, the date and time each trip took place, the destination for each trip, and the business-related purpose for traveling to this destination and odometer readings at beginning and end so that miles per trip can be calculated..
· Several of our clients have had success using an app called MileIQ.
ÿ Mileage log that includes total BUSINESS miles driven and total PERSONAL miles driven.
ÿ Business Miles _________
ÿ Personal Miles _________
ÿ Commuting Miles _______
If using the standard mileage method, the business miles x the standard mileage reimbursement rate set by the IRS is used for the auto expense deduction.
If using the actual expense method, the percentage of business miles to total miles is allocated to total cost of maintaining the vehicle.
ÿ A mileage log documenting the following is required for each vehicle:
ÿ Mileage for each business use (starting and ending odometer reading) _________
ÿ Time/Date/Place ______________________________________________
ÿ Business Purpose
It is also helpful to document the beginning and ending odometer reading of each vehicle each year to substantiate total miles for the vehicle.