Frequently Asked Questions
Where's My IRS Refund?
Check on the status of your tax refund here
Pay your taxes online
IRS Online Payment Portal
Can you help my business find tax deductions?
Yes, we can. By taking a deep dive into your business and expenses we can help determine which items are deductible.
What are estimated taxes?
The IRS requires individuals who earn income that is not subject to withholding, such as earnings from sole proprietors, partnerships and S-corps, interest, dividends, rents, and alimony, to pay quarterly estimated tax payments, also known as “estimates.”
What are the estimated tax payment due dates?
April 15, June 15, and September 15 of the current tax year, and the final payment is due January 15 of the following tax year.
How long should I hold onto my tax documents?
The IRS recommends the following guideline for keeping tax records:
- Keep records for 3 years if situations (4), (5), and (6) below do not apply to you.
- Keep records for 3 years from the date you filed your original return or 2 years from the date you paid the tax, whichever is later, if you file a claim for credit or refund after you file your return.
- Keep records for 7 years if you file a claim for a loss from worthless securities or bad debt deduction.
- Keep records for 6 years if you do not report income that you should report, and it is more than 25% of the gross income shown on your return.
- Keep records indefinitely if you do not file a return.
- Keep records indefinitely if you file a fraudulent return.
- Keep employment tax records for at least 4 years after the date that the tax becomes due or is paid, whichever is later.
Which business entity should I select for my new business?
Deciding on a business entity type isn’t as glamorous as deciding colors for your logo, but it’s just as important. The entity you choose—whether it’s an “S” corporation, LLC, or sole proprietorship—comes with longstanding tax implications, both good and bad. We can help you evaluate the pros and cons of each one, so you can choose the most advantageous entity type for your business.
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