Our fees are based on the amount of time spent on the return billed at hourly rates for each of the staff working on your engagement. The amount of time we spend on the return is determined by the complexity and how much information we need to summarize. The hourly rates are determined by the individual staff member’s skills and experience. We will be happy to provide you an estimated fee for your particular return.
We have offices located in Dover, Georgetown & Ocean View. Please refer to our offices and locations page for addresses and directions.
For refunds on Federal Form 1040, the IRS website offers the following guidance. “If you file a complete accurate tax return, your refund will be issued within six weeks from the received date. If you filed electronically, refund checks will be issued within three weeks after the acknowledgment date. Refunds from amended returns will be issued within 8–12 weeks.”
The Federal Tax Code imposes a complicated system of taxation on wealth transfers that is in addition to tax on income. The law provides two primary exclusions from gift tax. The first exclusion is an annual exclusion of $12,000 per recipient. In addition, there is a lifetime exclusion of $1,000,000. There are a number of exceptions and complications that apply to transfers of property that can result in unintended tax consequences. We would be happy to arrange a consultation to review your particular situation.
Generally, the recipient is not subject to income or inheritance/estate tax on bequests. However, as is with most areas of the tax code, there are some significant exceptions referred to as Income in Respect of a Decedent. A common example is a distribution from an Individual Retirement Account or Qualified Retirement Account. This will be included in the recipient taxable income.
You should arrange for a consultation with one of our CPA’s who will discuss the tax implications of you situations. We will review alternatives and strategies to help you choose a strategy that best meets your goals. This will include discussing strategies related to incorporation and limited liability companies (LLC).
We have several staff members with substantial experience in payroll accounting and reporting. We can assist you in setting up your payroll system. We also handle the quarterly and annual reporting requirements.
We have a number of Certified QuickBooks ProAdvisors on staff as well as several individuals well versed in Peachtree. We can assist you with setting up your chart of accounts. We have a great deal of experience with training you or your staff on how to utilize the program’s features.
Yes. Unfortunately, audits are a fact of life. Over the years we have successfully represented a number of taxpayers in audit situations. In most audits, we will be your interface with the auditor. This reduces the amount of time you actually spend with the auditor.
We would be happy to review your situation and help you determine what tax filings are required. We will prepare the necessary filings to include K-1’s for S Corporations, Partnerships and LLC’s.
Georgetown: (302) 856-3900
Ocean View: (302) 539-5543
Dover: (302) 678-1425