1852 Flatbush Avenue - 2nd Floor
Brooklyn, New York 11210
|Client Update - quarterly newsletter||
We serve clients in 13 states in the USA and 12 foreign countries. Taxpayers can file their tax returns today and pay the filing fee at the office or online with cash, check, or any major credit card. Payment online is fast, easy, and secure and they will receive a receipt immediately if they include their e-mail address on the payment form.
The TAXING AUTHORITIES will deposit your first tax refund into your bank account within 7-14 working days, from the date your tax return(s) were e-filed. You can check you Federal tax refund by logging on the IRS website: www.IRS.gov. Tax preparation fee will be collected as soon as your first tax refund is deposited in your bank account. Payment by check, credit card or automatic withdrawal is subject to acceptance and clearance at your bank.
Fees charged on a case-by-case basis
Tax preparation fee is tax deductible. The fee is an investment you made to minimize your taxes and maximize your refunds, in addition to getting part of the fee return to you in your refunds.
Clients are charged a flat fee; or a fee that is based on results (performance-based compensation). The minimum fee is $200 to prepare a basic tax return.
1) A Basic Tax Return. The fee is $200 to prepare and e-file the Federal & State if a client has a Form W-2 and no dependent. The fee is also $200 if a Federal and State tax return includes Earned Income Credit and Education Credit; or Earned Income Credit and Child & Dependent Care Credit (babysitter/day care).
2) An Itemized Tax Return. The fee is charge on a case-by-case basis. The fee starts at $200 and increases in accordance with your tax reporting requirement:
|a)||If you are required to itemized tax deductions such as, job related expenses, Mortgage interest, property taxes, Debt Cancellation, Repossession & Foreclosure, Forms K1, Stocks & Bonds sold, Savings interest, Dividends, Charitable contributions, Office-at-home deductions, Foreign earned income, Residential energy credit, Moving expenses, Reporting Foreign Assets, Alimony paid or received, Gambling & Winnings, and Losses incurred as a result of accident, fire, hurricane, flood, and theft.|
If you are required to itemize income and expenses for Residential, Rental and Commercial property that you own; or if you are adding a new property that you bought; or if you sold Residential, Rental, and Commercial property.
|c)||If you are required to file part year/change of residency; or required to file more than one state tax return. Those are the standards used in the income tax industry (industry norm).|
|NOTE: Fees are subject to change even if you had filed the same tax forms last year.|
3) Letter from the IRS or State. Our clients seldom get audited. However, if you receive a letter from the IRS or State about the tax return that we prepared for you, you would have 30-days to respond. Don't panic. Please notify us by phone or e-mail. We would contact you and tell you how to send the letter to us. We would review it alongside the tax return that we prepared for you and advise you accordingly. If the issue can be resolved with a quick response to the IRS or State then our response to the IRS or State is FREE.
4) IRS or State Tax Audit. If you are audited by the IRS or State, the Tax preparation fee you paid us does not include representation before the IRS or State. A separate fee will be charged if this service is required or deemed necessary. The Fee will be charged to you credit card or bank account at the time you request the service.
5) Amended tax return. The fee to prepare a Federal & State amended tax return is $350 if we prepared your original tax return; and $500 if we didn't prepared your original tax return. The Fee will be charged to you credit card or bank account at the time you request the service.
6) Extension of time to file. The fee to file a Federal & State extension is $200. The Fee will be charged to you credit card or bank account at the time you request the service.
7) Quarterly estimated taxes. If we prepare your current tax return and you owe Federal and or State tax, four quarterly estimated tax forms would be prepared and given to you for FREE. In other situations or instances the fee is $300.
8) Copy of your tax return. We do not send copies of tax returns by fax or e-mail. We would give you a FREE copy of your tax return after your tax return has been e-filed and accepted by the IRS and State. If you ask for an additional copy during the preparation of your tax return, the fee is $50. If you request an additional copy be sent to you, the fee is $50 PLUS postage or shipping. The total Fee will be charged to your credit card or bank account at the time you request the service.
Corporation, Partnership, LLC, and Sole-Proprietorship or Self employed Fee
1) The annual minimum fee for preparing a Federal & State tax return; or a Federal, NY State, and NY City tax return is $700 if the client takes responsibility for the bookkeeping work. The fee does not include representation before the taxing authorities. A separate fee will be charged if this service is required.
2) If a business client would like to outsource work to us because the client needs to devote time to a busy/tight schedule, needs time to concentrate/focus on operating the business, or just need more leisure time; the fee for this service starts from $400 per week. For REGULAR CLIENTS, Post-dated payments will be cashed on the prescribed dates as work progresses and they are subject to acceptance and clearance at your bank.
Thanks for your time; and thanks for doing business with Barry's Accounting Services, Corp.