NEW CLIENT INTAKE PROCESS

TAX COMPLIANCE SERVICES

Forming a new professional relationship is an important mutual decision that requires clear expectations on both sides. During our new client intake process, it is important for us to assess the value we can provide to you, effectively answer your questions and ensure our services are a good mutual fit for your tax compliance needs. As such, please take a few minutes to evaluate your suitability for our professional services.

TAX SERVICES FOR INDIVIDUALS

 

Please review the following checklist to confirm if your individual situation is a fit for the services our firm can provide you:

 

  • I have multiple sources of income, stock compensation, or other complexities that require an expert understanding of accounting and tax law.

 

  • My tax position has high dollar values where mistakes or erroneous financial decisions could be costly.

 

  • My time is more valuable than the professional fees. 

 

 

Our firm provides a high level of expertise to clients with complex needs. Clients with complicated income streams from businesses, investments, rentals, trusts and those with multi-state filing requirements are generally a good fit for our services. Prospective clients with simple returns looking for a budget option may find a better fit with DIY tax preparation software or entry level service providers.

 

 

We strive to provide our clients with the highest quality professional services we can offer while being mindful of the time and cost to provide such service. Here’s a summary of our billing practices and what we expect from a mutually beneficial and lasting professional relationship:

 

Pricing:

For the 2024 calendar year, individual federal tax return filing fees are $142, plus the billable hours to prepare and file the tax return. Our billable rates are $220 per hour. The biggest cost driver of a typical return is the complexity of the situation and the time involved in preparing the return and its supporting work-papers. Individual tax return fees are generally in the $2,000 - $5,000 range, although outliers exist. We can provide filing costs for additional filing needs. 

 

We require a retainer before beginning preparation of your tax return. You will receive an invoice for any remaining amount due upon the completion of your tax return or reimbursement of any overpayment.

 

We typically adjust our billing rates on an annual basis but may need to make more frequent adjustments depending on the rising cost of living and expenses.

 

Billable Services:

Outside of billable hours for preparing, reviewing, and filing your tax return we charge an hourly rate for our professional services. Such work includes our time for tax projections, tax law questions, analysis of estimated tax payments, tax withholding calculations, tax letters, etc. For such work we document all our time and bill accordingly. Billable hours also include time spent communicating with clients such as meetings and calls.

 

We seek to batch our time and be as efficient as possible in providing the highest level of service to our clients. We encourage clients to read all correspondence carefully and understand how we invoice our time and expenses (e.g. printing, postage, filing fees), so we can avoid billing surprises on our first engagement on your behalf.

 

Initial Engagement:

During our first engagement, we will request 1-3 years of your prior year tax returns to review your historical tax positions, credits, and carryovers. In addition, we may prepare Form 2848, IRS Power of Attorney, for your review and authorization, so that we can review your most recent IRS account transcripts before we prepare your current year tax return. This work is exclusively for the purpose of preparing your current year tax return, and not designed to detect material misstatements in prior year tax returns.

 

If you engage our services and provide us with the necessary information before our firm’s tax deadlines, we will work with you to prepare your Form 4868, Application for Automatic Extension of Time to File, calculate your 2023 estimated tax liability, and prepare 2024 estimated tax payment vouchers for you to pay your taxes. In addition, we will work with you to provide the same level of services for multi-state filing, as needed.

 

After we have prepared tax extensions for all our firm’s clients, we resume tax preparation work. This usually occurs in the middle of April. As such, your tax return will be prepared in the order received, as our work is performed on a first-in, first-out basis.

 

During the scope of our engagement, we will notify you if we have questions or need additional information to complete your return. When finished, we will notify you via email that we have prepared and finalized your tax return for your review and approval. This email will contain a link to your encrypted client folder where you can review your return and the related filing instructions. (Most of our clients prefer electronic documents. However, if requested, we will prepare and send you a paper copy of your return via USPS mail with tracking.)

 

Along with your tax return, we will also send you an email with your Form 8879, via DocuSign®, for your review and signature. Upon receipt of your signed authorization, we will electronically file your tax return on your behalf. You will receive an email to let you know that your return(s) have been accepted by IRS and state taxing authorities, as applicable.

 

Established Client:

As we get to know you, we will be better positioned to advise you on business, family, and personal matters. Our goal is to build long-term relationships with our clients, so we can be there for you when it’s time to evaluate important matters. Whether you’re an entrepreneur, business owner or equity compensated employee, understanding your longitudinal tax position and unique personal goals will allow us to plan together and advise you when you need to make important life decisions.

 

Next Steps

We are accepting new clients on a case by case basis. If you would like to work with us, please let us know and we will arrange a meeting with you to discuss your needs.