Tax Preparation & Planning Services
Frequently asked questions
We understand that doing back tax returns for many years can be overwhelming. We recommend first starting with the one from three years ago, then working your way forward.
Please note that for each year you have for which a tax bill was generated, penalties and interest will be incurred immediately unless an exception applies.
It's crucial to understand that the IRS does not forgive delinquent tax returns where you are not compliant in other areas of your federal tax obligations.
Book an initial Legacy Math Strategic Evaluation, by clicking this link, to understand your overall investment required to get in compliance with the IRS.
This is where the tax resolution begins and is a separte engagement with our firm. Initial resolution research starts with a retainer of $2,500 for 5 hours of support and is renewed as the retainer gets exhausted.
To inquire about this service, click this link to get started.
No, tax resolution is a separate engagement altogether.
Your tax return is reviewed by a Certified Public Accountant and ensures that all deductions that appear on your tax return follow the Internal Revenue Tax Code. It's more than just data entry for us.
This commitment ensures that our tax return services deliver 'audit ready' tax returns when e-filed with the IRS, providing you with peace of mind.
Most tax preparers who only complete tax returns do not
→ Complete a tax return with appropriate audit records IF you'll need it
→ Know "source documentation" rules for systems like QuickBooks Online
→ Reconcile your bank balances to ensure you aren't leaving write-offs on the table, or worse reporting more income than necessary.
→ Know how to prepare a balance sheet to ensure what your lifetime contributions have been in your business
I don't know about you, but if I'm pouring my investments into a business that's my livelihood, I'd want it to be flawless, accurate, and complete.
We ask the tough questions and provide you with the right love you need to complete a return that doesn't question your or our ethics as business owners.
The simple answer is No. This service is for business owners that already have complete books and records. You'll need additional work to get your records ready for tax preparation.
If your bookkeeping is undone and has not been reconciled to ensure all deductions that you can take are visible, then you would need a customized engagement of doing a full clean up project which starts at $7,500 for up to 3 bank accounts and 12 months.
To explore this option, please click this link to book a strategic Legacy Math evaluation to get started on the right track.