1852 Flatbush Avenue - 2nd Floor
Brooklyn, New York 11210
|Client Update - quarterly newsletter||
Tax Preparation Fees Estimates
(This is in accordance with Federal & States Consumers Law and our Attorneys/Lawyers advice).
We don't have the time (Time Management) to file Quarterly Estimated Tax Forms(Form 1040-ES); and Tax Extension Forms for clients. Clients living in the USA can file tax extension Form 4868. Clients living overseas can file Form 2350 or 2555-EZ; and Business can file Form 7004 on the IRS websites:-IRS.Gov. In addition, they must file a State Tax Extension Form with the State where they live/domicile.
We prepare Basic and Complex Tax Returns for Individuals and Business Owners in 13 states in the USA and 5 foreign countries. Taxpayers can file their tax returns today and pay the filing fee at the office or online with Cash, Check, and Major Credit Cards. Payment by Checks and Credit Cards is subject to acceptance and clearance at your bank.
Payment online is fast, easy, and secure; and clients will receive a receipt immediately if they include their e-mail address on the payment form. Clients must notify us when they make a payment.
The TAXING AUTHORITIES (Federal or State) 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. After your first tax refund (Federal OR State) is deposited into your Bank Account, our Bank can withdraw the tax preparation fee from your Bank Account if that is how you want to pay us. You can check the status of your Federal tax refund by logging on the IRS website: www.IRS.gov.
Individual Tax Preparation Fee
(Fee is charged on a Case-by-Case basis)
Tax preparation fee is tax deductible. Hence, you will be getting back part of the fee you paid in your tax refund. The fee is an investment you made to minimize your taxes and maximize your tax refund(s).
#1) Basic Individual Tax Return Preparation:- The Minimum Fee is $200 to prepare and e-file a Federal and One State tax return if a client has a Form W-2 and no dependent. The fee is also $200 if your Federal and State tax return include Earned Income Credit and Education Credit; or Earned Income Credit and Child & Dependent Care Credit (babysitter/day care).
#2) Itemized and Complex Tax Return Preparation for Middle and High Income Individuals:- You have a lot of work to get done. Let's start doday!! The fee is charge on a case-by-case basis. The fee can be a Flat Fee; or a fee that is based on result (Performance-based Compensation). The Fee Starts at $200 and Increases in accordance with your tax reporting requirements AS FOLLOWS:-
Tax Preparation Fee for Property you Sold
(Rental and/or Commercial Property that You Sold)
Tax preparation for property sold takes a lot of time and research if the seller wants the maximum benefits/tax breaks. If you SOLD a Rental or Commercial Property, the fee we charged will come from the result that we provide for you. It is a similar method used by Brokers and Real-Estate Advisory Firms. We will be upfront (straight forward) with you before we start the job, just like we have been upfront with several clients over 30-years.
Business Tax Preparation Fee
(C-Corp., S-Corp., LLC., Partnership, and Sole-proprietorship)
You have a lot of work to get done. Let's start today!! The Minimum Fee for preparing a Business tax return is $1,200.00 if the business owner takes responsibility for the book-keeping work and give us the Business Annual Gross Income and an Analysis of the Business Annual Operating Expenses.
Business Tax returns MUST reach the IRS and State on or before March 15.(IRC Section 6072). The IRS number (800) 829-1040 from 7am EST. The information to prepare them should be given to us on or before March 01. Those tax returns take time to prepare and we may have to do research to complete them. You are liable for paying late filing penalties to the IRS & State if we receive your documents after March 01. Other Accountants are making similar request.
We will ensure the business owner(s) save thousands of dollars in taxes by taking EVERY business Tax Credit, Deduction, Exemption and Exclusion that is available for Businesses under the new tax laws. Tax return(s) are prepared Quickly and Accurately; and we put our Track-Record and Reputation behind ALL our work. For Regular Business Clients, post-dated fee payment(s) will be cashed on the prescribed date(s) that you have reasonably chosen. Payment(s) are subject to acceptance and clearance at your bank.
With us in your corner, you will always have a knowledgeable and valuable resource to turn to for practical and profitable business and financial advice in your industry and in other industries. Written testimonials we have obtained during our annual clients surveys are overwhelmingly impressive.
What EVERY client must know
1) 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 15-days to respond to the IRS or State. 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 will 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.
2) 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 your Credit Card or Bank Account at the time you request the service.
3) Amended Tax Return: - The fee to prepare an Individual Federal & State amended tax return is a Minimum of $450 if we prepared your original tax return; and a Minimum of $450 plus tax preparation fee if we didn't prepared your original tax return. The Fee will be charged to your Credit Card or Bank Account at the time you request the service.
4) Quarterly Estimated Tax:- If we prepare your current tax return and you owe Federal and or State income tax, four quarterly estimated payment tax forms will be prepared and given to you for FREE. In all other situation or instances the fee is $300.
5) Copy of your tax return: - We do not send copies of tax returns by fax or e-mail. We will 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 request an additional copy during the preparation of your tax return, the fee for that extra copy 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.
Thanks for your time; and thanks for doing business with Barry's Accounting Services, Corp.