Most Frequently Asked Questions (FAQs)
If you have a question that's not answered here, do not hesitate to call.
- How can paying an accountant help me make money?
- I have QuickBooks. Isn't that all I need?
- How much do you charge?
- How quickly can I receive my tax refund?
- What if I have a tax question during the tax year?
- What do I do if I haven't received my refund?
- I cannot pay my tax bill this year? What can I do?
- How long should I keep my tax records?
- What if I receive a letter from the IRS?
- What do you need to prepare my tax return?
1. How can paying an accountant help me make money?
You understand the "in's and outs" of your business. An accountant understands the "in's and outs" of accounting principles and tax laws. An accountant can show you what to do to control your expenses, improve your cash flow and keep you on track to a success and profitability.
2. I have QuickBooks. Isn't that all I need?
A good accounting software package can help you organize and simplify your accounting procedures. However, you still need to interpret the reports the software generates for you. An accountant can review these reports with you and make suggestions how to improve your business.
3. How much do you charge?
My fee is based on the number of forms and schedules needed and the amount of time involved in the preparation of your return. You can call or email your basic information and I can provide you with an estimated fee or you can schedule a free initial consultation.
4. How quickly can I receive my tax refund?
Generally within 2-3 weeks, if you e-file and use direct deposit service.
5. What if I have a tax question during the tax year?
As a regular tax preparation client you may contact me as often as necessary during the year for tax planning advice. There is no charge for brief telephone, fax or email questions. For more detailed consultations, which require research, worksheets or written opinions I will provide an estimate of time any you will be charge at an hourly rate of $75.00.
6. What do I do if I haven't received my refund? The Internal Revenue Service has a toll free number to handle your refund inquiries. It is 1-800-829-4477. Please have your social security number, your filing status, and the whole dollar amount of your refund handy. Also, please allow from 4 to 6 weeks before calling. You may also try the links provided below:
- Federal Tax Return Status. Check the status of your federal tax return on the Internal Revenue Service secure website.
- Pennsylvania State Tax Return Status. Check the status of your PA State tax return on Pennsylvania's secure website.
7. I cannot pay my tax bill this year? What can I do?
The Internal Revenue Service provides for individuals, who cannot pay their bill in full, to pay in installments, for up to five years . I can help negotiate a payment plan that fits your budget.
8. How long should I keep my tax records?
The Internal Revenue Service suggests 3 years from the due date of your last return. After three years you can discard receipts, bills and credit card statements . Your tax returns, W-2s, 1099s or any contract for an asset you still own (ie: home or auto) should be made a part of a permanent file.
9. What if I receive a letter from the IRS?
If you receive a letter relating to a federal or state tax return I have prepared, call me 215-699-2272 immediately. A timely response can save money in penalties and interest. If additional tax work is required, a fee may apply.
10. What do you need to prepare my tax return?
I will gladly send you, via email, fax or postal mail, a list of the specific information I will need to properly prepare your tax return. You may also with your request.
Call AccountAbility today! 215-699-2CPA (2272)