Have a question about accountants or CPAs? Find the answer here!
What areas do you serve?
We have employees in multiple states but our services are available in all areas of the United States. The majority of our clients are on the east coast and in the central US.
How do we meet?
Our initial discovery meeting is a simple 15 minute phone call and from there when we work together we meet via phone, Zoom, or Teams to support you.
What services do you perform?
We provide a wide array of services including tax services, accounting services, and consulting. Below is a sampling of what we can do for you. Please schedule an intro meeting to learn more.
- Professional tax return preparation for Individuals and Businesses.
- Tax Planning to ensure that you know what you need to consider when establishing your business and personal goals.
- Insight into entity selection
- State and Local Income and Franchise Tax Return Preparation
- Sales and Use Tax Return Preparation
- Financial Statement Preparation and Tax Audit Assistance
- Assistance with compiling documentation necessary for annual audits.
- Preparation of responses to state and federal tax compliance notices on your behalf.
- Review of internal accounting processes to determine potential opportunities for process efficiency.
- Project based services to help your business bridge the gap and/or gain efficiencies.
- Compile and document multi state apportionment and nexus filing requirements for entities operating in the multi state environment.
Do I Need a CPA, Bookkeeper, or Accountant?
The titles bookkeeper, accountant, and CPA are often used interchangeably in today’s business world, but the roles are considerably different. We have outlined the difference and how to know when it is time for each in our tax guide https://heathstaffordcpa.com/is-it-time-for-your-small-business-to-hire-a-cpa-or-accountant/
How can I contact the IRS about my tax return?
You can call the IRS at its toll-free line at 800-829-1040. To be ready to respond, you should have your Social Security number, your filing status and your refund or payment due amounts. Allow between 4 to 6 weeks before you contact the IRS.
I prepare my own tax return, why use your services?
An individual on social media asked why many small businesses hire accountants to do their taxes. We agree with the anonymous answer, “Because the cost of mistakes is far higher than the cost of an accountant to do them.” An accountant or CPA can help you keep a strong financial standing with proper planning and execution of complicated situations.
Should I keep my old tax returns? If so, for how long?
You should keep your old tax returns for at least 7 years. When a return contains information pertaining to the basis of property owned, it should be kept until that property is sold. One of the benefits of keeping your tax returns from year to year is that you can look at last year return while preparing this year. If you do throw out an old return you may fill out form 4506, Request for Copy or Transcript of Tax Form, and send it to the IRS service center where you filed your return.
What happens if I Receive an IRS Audit Letter?
You have 30 days to respond to an audit notice. But if you do receive an audit letter, please contact our firm as soon as possible so that we can construct a composed strategy to prepare for the audit.
Which entity is best for my business?
When you incorporate your business you have four basic entity types to choose from:
- Sole Proprietorship
- Limited Liability Company (LLC).
There is no one-size-fits-all rule as to which entity is best for your business. Request an initial consultant with us to talk about your options.
Common income tax dates
Personal income taxes and Trust income taxes due?
- April 15th (October 15th with an extension)
Sub-Chapter S-Corporation income taxes due?
- March 15th (September 15st with an extension)
Partnership/ LLC income taxes due?
- March 15th (September 15th with an extension)
Non-Profit income taxes due?
- May 15th (August 15th with an extension and November 15th with an additional extension)
C-Corporation income taxes due?
- What month is the year end for the corporation?
- December 31st: March 15th (September 15th with an extension)
- January 31st: April 15th (October 15th with an extension)
- February 28th: May 15th (November 15th with an extension)
- March 31st: June 15th (December 15th with an extension)
- April 30th: July 15th (January 15th with an extension)
- May 31st: August 15th (February 15th with an extension)
- June 30th: September 15th (March 15th with an extension)
- July 31st: October 15th (April 15th with an extension)
- August 31st: November 15th (May 15th with an extension)
- September 30th: December 15th (June 15th with an extension)
- October 31st: January 15th (July 15th with an extension)
- November 30th: February 15th (August 15th with an extension)