Accounting of the Palm Beaches, LLC is fully insured and virtually capable of handling your accounting needs, both near and beyond. We use professional accounting and professional tax software, to assist us in managing your accounting data. Our firm has AICPA credentialed, Professional Liability Insurance and Cybersecurity Insurance. We are compliant!
Let's help you establish yourself with a clear head; knowing that a Licensed CPA Firm is managing your tax needs.
Our Process, Your Experience:
Putting Safety and Compliance First
- After contacting us, we'll invite you into our CRM system to complete a brief Questionnaire -- which we may ask a few more questions to gauge your tax needs -- then you'll receive our Contract and Invoice afterwards, to Kick-Off the process.
- Check your email for a link to our Tax Organizer; where you can safely answer questions and upload support, from the safety of your home or office.
- We'll begin reviewing your supportive documentation, start processing your return and maximizing your deductions. Timely respond to any of our questions, to avoid delaying the processing of your return.
- Once processed, we will submit your return to you for review and signature -- all electronically. At this stage, we may schedule a call or video chat with you to walk you through your return before your signing.
- We'll then electronically submit your return to the IRS, notify you once accepted and upload your final tax return to your portal so that you may access your return freely.
Through our CRM system, you may communicate with us and view the Progress of your Tax Return throughout the entire process from beginning to end.
Preparing your own income tax return can be a task that leaves you with more questions than answers. According to a study released by the US Government's General Accounting Office, most taxpayers (77% of 71 million taxpayers) believe they benefited from using a professional tax preparer.
Whether we like it or not, today's tax laws are so complicated that filing a relatively simple return can be confusing. It is just too easy to overlook deductions and credits to which you are entitled. Even if you use a computer software program there's no substitute for the assistance of an experienced tax professional.
Here's what you get...
- Your tax return will be checked and rechecked by our computer software identifying potential problems the IRS may look at more closely and reviewing the math to limit IRS contacts.
- Your tax return can be filed electronically so you will get a refund back quicker.
- Our staff will show you how to adjust your payroll withholding to get more money back each week. Why give the IRS an interest free loan for up to 16 months.
- We will show you potential deductions to limit your tax liability for next year. In addition, we will give you a sheet of commonly overlooked deductions to limit the following year's tax liability.
Learn more about our Tax Strategies for Individuals.
Small Business Owners
Books a Mess? No Problem!
If you own a small business and haven't kept up your bookkeeping, don't worry. We can help you. We'll prepare your bookkeeping for the year, prepare a full Schedule C, as well as your personal income tax return. Then we'll help you set up an easy system that allows you to keep your books in tip-top shape next year.
Learn more about our Tax Strategies for Business Owners.
Don't risk being audited with "Self Prepared" on your tax filing, when you've paid a tax preparer for services.
- Preparer Tax Identification Number (PTIN): ALL “paid” tax preparers filing U.S. federal tax returns or claim for refund need to have a PTIN. Their PTIN should be placed in the “Paid Preparer” section of a tax return that the tax return preparer prepared for compensation. EACH INDIVIDUAL PAID PREPARER NEED TO HAVE THEIR OWN PTIN. Does your paid preparer have a PTIN? Click here to check the IRS "Directory of Federal Tax Return Preparers with Credentials and Select Qualifications".
- Electronic Filing Identification Number (EFIN): EFINs are Issued to individuals or firms that have been approved as authorized IRS e-file providers. It is included with all electronic return data transmitted to the IRS. The last thing you may want is to have to mail your tax documents, because your Tax Preparer does not e-file. Click here to find an "Authorized IRS e-file provider locator for Tax Professionals".
How to review your account information
What is a Tax Offset?
A tax offset, also known as a tax refund offset, is when money from your tax refund is withheld in order to pay taxes you owe to the IRS for a prior year, or to settle other state and federal debts including:
- Overdue federal taxes
- State income tax
- State unemployment compensation debts
- Child support
- Spousal support
- Federal non-tax debt, such as student loans
Any offsets triggered by past-due federal taxes are handled by the IRS and all other offsets are handled by the Bureau of Fiscal Service (BFS).
Tax Refund Offset for Student Loans
Defaults can happen for several reasons. The issue is borrowers can’t afford to make payments, whether it’s because they aren’t earning enough money, are paying other important bills or otherwise.
When you default on your loans, your wages can be garnished, which means the Department of Education can take money directly out of your paycheck. It also can work with the Internal Revenue Service (IRS) to use your tax refund to repay your defaulted student loans, which is known as a “tax refund offset.” Here are a few ways to avoid a Tax Refund Offset on your stundent loans:
- Stay out of student loan default
- Consider deferment or forbearance
- Consolidate or refinance your student loans
- See if you qualify for student loan forgiveness
How Do I Know if My Tax Refund Has Been Offset?
When taxpayers experience a delay in their refund, it can be difficult to tell whether the IRS plans on keeping it as part of a tax offset, or if there’s simply been a complication with your return.
If you didn’t receive a Notice of Intent to Offset but are expecting a much larger tax return, contact the BFS Treasury Offset Program Center by phone: (800) 304-3107 Monday through Friday, 7:30 AM to 5:00 PM. Which you can call and go through automated prompts to see if you have any tax offsets against you by entering your Social Security number.
You can book and manage appointments online using our booking page, by clicking the "Schedule your Appointment" image and select the “Tax Preparation Services” option for a FREE Initial Consultation.
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