While our personal tax return fees are only $150 we do charge a little more for a Self Employed Business and Rental Property so please call to get a quote
For business returns we ask that you prepare for your appointment with us by providing what is called a profit and loss statement. This does not need to be fancy it can be done on a piece of paper where it clearly states how much income you received. Then how much you spent to operate your business. These expenses can include
- office supplies,
- supplies that you used to complete the work you sold (COGS),
- rent you paid for a facility outside of your home,
- automobile expenses,
- wages you paid to individuals and sub-contractors, etc.
Please call our office if you have any questions or need a sample worksheet to assist you in creating a profit and loss statement. We will be glad to assist you in creating a profit and loss statement on an hourly basis. Please note that the IRS requires you to prove your expenses in an audit so while you need to keep all receipts we do not need to see them if you provide us an accurate profit and loss statement.
Bank Statements may not stand up in an audit so please save all of your receipts. They do not meet all of the requirements that the IRS asks to prove for the business expense. The expenses must be "Ordinary & Necessary for your business" you need to show business purpose, what was purchased, dollar amount, who you purchased from and the date of purchase.