FAQ

Yes, for prospective clients looking to engage us to prepare current or back year tax returns, those looking for assistance with their business accounting, and those with back IRS or state tax matters that you would like our help to remediate, or those facing a Federal or State tax audit or being contacted by taxing agencies.

We find that at times there are situations where someone has tax questions or needs business advice and is looking for advice specific to their situation but does not need to engage us to provide services outside of some advice in a one-hour consultation. We can provide this service but it is not a free service. Our consultation services for these matters are $350 per hour with a 1 hour minimum. If you would like to schedule a paid consultation to discuss your situation with a licensed accountant, please email our office and speak with one of our staff members and we will get you scheduled a Zoom session.

Should you decide to engage us to represent you based on the discussion of your meeting, we will credit

the $350 fee to your first invoice on that matter.

No, but J.S. Tax Corporation will help you get payroll established with a reputable payroll company best suited for your business needs. However, we can prepare payroll returns and related filings and routinely advise clients on payroll related matters.

No. However, J.S. Tax Corporation can refer you to a reputable investment advisor best suited for your individual needs. We do advise on the taxation of investments and are happy to help our clients in these areas and work with their investment advisor as needed.

J.S. Tax Corporation’s fee for services are based upon the amount of time expended on the preparation of the return at our standard hourly rates. The minimum cost for a basic 1040 return is $275 and the minimum cost for a business entity return is $650.

Most of the individual returns that we prepare range from $275 to $2,500; however, some are lower and some are higher based upon their complexity level and the client’s record keeping.

On the business entity side, most of the forms 1065, 1120, 1120S, 1041, and 990 that we prepare for clients range from $650 to $8,000; however, some are lower and some are higher based upon their complexity level and the client’s record keeping or lack thereof.

● Overall complexity/type of return (i.e. personal, corporate, trust)

● Number of filing jurisdictions (i.e. multi-state, international transactions and accounts)

● Businesses, rentals, or farms (Schedules C, E, and F)

● Accounting work and bank reconciliations needed

● Number of follow up documents/questions asked, client responsiveness

Yes 

Most of of our clients are small businesses across various industries. We have experience in various industries like real estate holding companies, e-commerce businesses and service industries etc. We like to think that we understand them pretty well.

Generally, J.S. Tax Corporation can turn around a completed tax return within 1-2 weeks from the time we have all of the necessary documents from the client. Factors that can affect turn-around times include completeness of documents received, responsiveness of the client to questions and requests for additional information, or length of time until to the filing deadline.

Whether you use QuickBooks Online or QuickBooks Desktop, our accounting professionals can guide you through account sharing or a secure file upload to transfer your books.

J.S. Tax Corporation can help. We will prepare state and federal Power of Attorney forms for taxation matters, which will allow us to access transcripts with the necessary information.

J.S. Tax Corporation e-files tax returns.

Yes. J.S. Tax Corporation routinely prepares tax returns for all U.S. states and territories as well as necessary city or locality returns.

It is likely. J.S. Tax Corporation can help you determine filing requirements for the decedent and/or their estate.

This will depend on the accuracy and completeness of your personal record keeping. Often, bank records or reconciled QuickBooks files replace the need for a shoe box full of receipts. J.S. Tax Corporation will help determine the easiest, most cost-effective way to achieve accurate reporting.

No. You will be invoiced for tax preparation when the return is complete and receive your refund directly from the relevant taxing authority. Tax preparation fees are due prior to the filing of your tax return. We accept all major credit cards and e-checks through our website.

When J.S. Tax Corporation prepares and files your return, we can help you remedy the situation to properly claim your child/children on your return.

In certain situations, yes. Contact J.S. Tax Corporation so we can learn more about your situation and advise you on the most advantageous filing option.

Yes, but only if it makes financial sense to itemize your expenses. Contact J.S. Tax Corporation so we can learn more about your situation to help determine the most beneficial filing option.

This depends on your personal situation. J.S. Tax Corporation’s tax software calculates the amount owed or refunded for both Married Filing Joint and Married Filing Separate, so we can determine the most advantageous filing status for you.

Yes, we file extensions for our clients. Note that filing an extension grants additional time from the original due date for the tax return to be filed; however, this does not extend the due date for taxes owed.

This will depend on what type of inheritance you received and the method by which it was received.

Contact us to learn more about inheritance reporting and filing requirements.

Here is a list of the most common documents needed to complete an individual tax return.

● W-2 (wages)

● 1099-NEC (independent contractor income)

● 1099-MISC (rents)

● 1099-INT (interest)

● 1099-R (retirement)

● 1099-DIV (dividends)

● 1099 Consolidated statement (investments)

● K-1

● Estimated tax payments

● 1095-A, 1095-B, 1095-C (health insurance)

● 1099-SA (HSA distributions)

● 1098 (mortgage interest)

● 1098-T (education)

● Property Taxes

● Closing Disclosure (real estate purchases or sales)

● Income and Expenses (bank statements or QuickBooks files) for a Schedule C business or

Schedule E rental property

Contact J.S. Tax Corporation, and we can help you navigate registration and taxation requirements, as well as establish an accounting system.

Yes, J.S. Tax Corporation can help select and implement an accounting system that is right for you.

Whether you own a start-up or well-established business, our outsourced accounting professionals bring personalized solutions to fulfill your needs. We can supplement your existing staff or manage all your accounting responsibilities. Services are tailored and scalable to bring you the right expertise at the right time for you.

Yes, we work with qualified bookkeepers to assist business clients with ‘clean-up’ or ‘catch-up’ of their books. We will also advise on corrective actions to ensure future reporting timeliness and compliance.

Yes, J.S. Tax Corporation will help you identify a Third-Party Administrator (TPA) best suited for your individual needs. We will work directly with the TPA and advise on tax-related matters on funding your account.

Yes. When an individual or business is chosen for an IRS or state-level audit, J.S. Tax Corporation will represent the taxpayer before the IRS or relevant taxing authority. In most cases the client will not have to meet with or talk to anyone from the IRS when represented by J.S. Tax Corporation.

Contact J.S. Tax Corporation. We help taxpayers understand and respond to IRS, state or local tax notices.

Contact J.S. Tax Corporation. We can advise you on the best course of action. Under certain circumstances, relief may be available for penalties and interest, or there may be alternate remedies we can pursue on your behalf.

Yes. We will prepare state and federal Power of Attorney forms for taxation matters, which will allow us to access transcripts to confirm filing requirements. Our professional tax preparers are experienced with back-year and multi-year tax filings.

There are several options available to you including establishment of a payment plan, negotiating an Offer in Compromise or getting in a Currently Not Collectible status. This will vary based on the amount owed, type of debt, age of debt, and your personal financial situation. Contact J.S. Tax Corporation’s resolution team to learn more.

Yes. J.S. Tax Corporation can help you determine amounts owed and verify filing requirements. We can help with back filings, establish payment plans, and more.

Questions?

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Contact us today at (516) 727-2077 or by emailing [email protected] for a free 20-min consultation.

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