Research of IRS tax record and analysis of tax problem: $250-$500
Base representation fee: $1750
IRS or State Collection Cases:
Individual Back Taxes: $875-$4000
Payroll tax liability representation: $1275-$5000
Penalty abatement: $550-$1550
State tax representation: $875-$1500
Audit or Examination Cases:
1040 income tax audit representation: $1750-$5500
Appeal of audit or audit reconsideration: $1750-$4000
Explanation of Representation Process
Research of IRS tax record and analysis of tax problem: We start by gaining access to your IRS account so that we can see what the details are of your tax situation and what the IRS has communicated to you and what their plans are. There is a wealth of information available that our team has powerful resources at our disposal to analyze your account and provide guidance of the next steps. You will receive a 40+ page report with all the details of your IRS account along with a 30-60 minute meeting with one of our team to explain the report. With the correct strategy you can save yourself significant amounts of money on your past and current tax liability.
Base fee: Our base fee is the down payment we require upfront to begin working on your case. During the first meeting where we research and analyze your tax problem we will discuss possible strategies for addressing your situation. Based on that conversation we will send you a proposal that presents our strategy as we discussed along with any payment arrangements you have made with us to cover our fee. This engagement letter will need to be accepted and signed by you before we begin work. This base fee is above and beyond the initial research and analysis fee mentioned above.
IRS or State Collection Cases: Our engagements are for either your federal or state collection case. If you would like our assistance with both the federal and the state that will require a separate engagement. We typically recommend you address your federal case first as states typically follow the federal return. Once your federal case is addressed then we can move onto working with the state on your behalf.
Back Taxes: Back taxes are when you are not compliant with your tax filings. This means you have not filed your returns for the past year or a number of years. We will strategically file your past returns as necessary. If you have more than 7 years of unfiled returns we will typically recommend you file the 4 most recent years and begin discussions with the IRS from there. Bringing you into compliance is often the first step to addressing your tax problem.
Payroll Tax Liability: Payroll taxes are comprised of the social security tax, Medicare tax, and various income tax withholdings. If you are an employer and you have not submitted these taxes to the appropriate agency then you have a payroll tax liability. This can be an extremely serious tax problem and you should not delay in addressing this.
Penalty Abatement: If you have made a reasonable effort to comply with tax laws then you may qualify for a penalty abatement. There are several penalties eligibly for relief: failure-to-file, failure-to-pay, failure-to-deposit on time, and other penalties. The types of penalty relief are: reasonable cause, administrative waiver, first time penalty abatement, and statutory exceptions.
Audit or Examination: Selection for audit does not always indicate there's a problem. The IRS has several different methods of choosing a return for audit or examination. There is random selection of returns which can simply be a statistical formula. Computer screening is when the information reported to the IRS does not match the information as reported on your tax return. Examination may occur if your return involves issues or transactions with other taxpayers, such as business partners or investors, whose returns were selected for audit. Regardless of your audit case you should seek representation. As the saying goes, "A person who represents themselves, has a fool for a client."
We get it...you have been so busy running your business that the accounting function kinda took a back seat. Now you are struggling to get control of the situation and don't even know where to begin.
This is where we can step in and help you get control of what has happened and set you up for success moving forward.
Our rates for historical cleanup start at $85/hour and once we are able to see what all is going on, we can give a rough estimate of how long that could take.
We utilize Gusto when working with our clients. We have found that it is extremely user friendly both on the client side and on our side. We have options where we can set it up and you take it from there or if you need a little hand holding, we are right there to make sure your people get paid accurately and on time.
Let's be honest, no one ever woke up and said they are excited about tackling all those expense reports! Whether they are from employees that you need to approve or if you just need help submitting them to vendors so you can get paid, we can help!
We have a variety of possible solutions to help and can build a custom pricing package just for you!
Expense Reporting - $100/month
Bill Pay - $200/month
Invoicing - $250/month
Collections & Deposit Management - $50/month
Do you need strategic advice? Do you need to forecast revenue? Do you want to make sure you are on track to meet your goals?
Our advisory CFO services are what you need to plan for the future. You will receive expert advice that is tailored to your needs and will help you navigate funding and valuation for any project.
Don't see a plan that fits your needs? Let's talk and we can customize a package that fits your needs.