Frequently Asked Questions

What types of financial services do you offer?

We offer a range of financial services including tax preparation, bookkeeping, payroll, relocation assistance, and event speaking.

How can I find out what my tax liability is?

Your tax liability can be calculated by using your income, deductions, and applicable tax rates. Our tax preparation services can help you determine your tax liability.

Can you help me plan for my retirement?

Yes, we offer retirement planning services to help you prepare for your future.

Contact Us to learn more about our retirement planning services.

What is the difference between a tax credit and a tax deduction?

A tax credit is a dollar-for-dollar reduction in your tax liability, while a tax deduction reduces your taxable income.

How can I minimize my tax liability?

There are several strategies you can use to minimize your tax liability, including maximizing your deductions, contributing to tax-deferred retirement accounts, and taking advantage of tax credits.

Do I need to file a tax return if I have no income?

It depends on your individual circumstances, but in some cases, you may be required to file a tax return even if you have no income.

How often should I review my financial plan?

It is recommended to review your financial plan at least once a year to ensure that it is still aligned with your goals.

What is a balance sheet?

A balance sheet is a financial statement that shows a company’s assets, liabilities, and equity at a specific point in time.

What is a profit and loss statement?

A profit and loss statement is a financial statement that shows a company’s revenues, expenses, and net income or loss over a specific period of time.

Can you help me set up a budget?

Yes, we can help you create a budget that aligns with your financial goals.

Contact Us to set up an appointment!

What is a 401(k)?

A 401(k) is a retirement savings plan that allows employees to save a portion of their pre-tax income.

What is an IRA?

An IRA (Individual Retirement Account) is a tax-advantaged savings account that individuals can use to save for retirement.

What is a Roth IRA?

A Roth IRA is a type of IRA that allows you to contribute after-tax dollars, and withdrawals in retirement are tax-free.

What is a tax bracket?

A tax bracket is a range of income levels that are taxed at a specific rate.

Can I deduct charitable donations on my tax return?

Yes, you can deduct charitable donations on your tax return if you itemize your deductions.

What is a W-4 form?

A W-4 form is an IRS form that employees use to indicate how much federal income tax should be withheld from their paychecks.

What is a 1099 form?

A 1099 form is a tax form used to report various types of income, such as self-employment income or investment income.

What is a Schedule C?

A Schedule C is a tax form used to report business income and expenses for self-employed individuals.

Can I file my taxes online?

Yes, you can file your taxes online using various tax preparation software or with the assistance of a tax professional.

How long should I keep my tax records?

It is recommended to keep your tax records for at least three years, and in some cases, up to seven years.