Frequently Asked Questions

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Certified Public Accountants

FAQs

The IRS is calling me saying I owe them money. What should I do?

Don't panic. Never speak to anyone claiming to be the IRS over the phone. The IRS will never initiate contact with a phone call. Every year, more and more scams are surfacing of people claiming to be from the IRS. If the IRS contacts you, it will be in writing.

What should I do if the IRS sends me a letter?

​The IRS generates most letters and notices automatically through a computer-generated system. Don't ignore the letter, but don't panic either. Give us a call and we can help you take your next step. Many times the letter will overstate the tax and penalties owed or may be erroneous altogether. Let our team of highly qualified accountants be a buffer between you and the IRS.

When and how do I pay the IRS?

The IRS allows taxpayers to extend the filing of their tax returns, however, the tax is still due at the original due date. This means that you can begin accruing interest and penalties if the tax is not paid timely. Some individuals may also need to make quarterly estimated tax payments throughout the year to avoid late payment penalties. The IRS will accept checks mailed with an IRS voucher, payments through the Electronic Federal Tax Payment System (www.EFTPS.gov) which takes 2-3 weeks to register, or Direct Pay on the IRS website (www.IRS.gov/Payments).

​Will filing extension increase my risk of an audit?

Many people have heard if you file an extension, your chances of being selected for an audit are increased. Some people even know someone that extended and was then audited. There is no known proof that links the two together. It is better to file an extension if you need the extra time to gather all the documents required to file a complete return than to file an incomplete return by the original due date just to avoid this unsupported risk.

Why should I hire a CPA over another tax preparer?

Certified public accountants (CPAs) meet stringent education and regulatory requirements to become certified. A CPA offers more than other tax preparers. We are available to meet year-round for tax-planning, business consulting, or just to discuss how major life changes will effect your taxes. See the following table that summarizes more of the differences:

What do you charge for your services?

Due to the unique needs of each client, our fees depend on the complexity and time required for each engagement. The National Society of Accountants publishes survey results annually on the average costs of CPA services which can be found below. These are not our prices but should give you an idea of what to expect. You can find the complete list here.

Average hourly fees for various client services include:
Estate/Financial Planning – $163
Audit of Financial Statements – $157
Financial Services – $144
Tax Services – $145
Management Advisory Services – $146
Elder Care Financial Services – $131
Financial Statement Presentation – $134
QuickBooks or Bookkeeping Advisory Services – $97
Write-up Work – $93
Payroll Services – $83

Average fees to prepare forms include:
$273 for a Form 1040 with a Schedule A and state return
$176 for a Form 1040 (non-itemized) and a state return
$184 for a Form 1040 Schedule C (business)
$124 for Schedule D (gains and losses)
$135 for Schedule E (rental)
$656 for a Form 1065 (partnership)
$826 for a Form 1120 (corporation)
$809 for a Form 1120S (s corporation)
$733 for a Form 990 (tax exempt)
$1,563 for a Form 706 (estates)
$532 for a Form 5500 (pension/profit-sharing plans)
$53 for a Form 8965 (health coverage exemptions)

$58 for a Form 1095‐A (health insurance marketplace statement)