Question 1

What types of tax returns do you prepare and file?

Accepted Answer

We specialize in tax preparation and filings for individuals and small businesses.

This includes:
Individual income tax returns (Form 1040)
Partnership tax returns (Form 1065)
S-Corporation tax returns (Form 1120-S)
C-Corporation tax returns (Form 1120)

At this time, we do not prepare trust or estate tax returns (Form 1041) or non profit tax returns (Form 990). If you need assistance with one of these filings, we’re happy to help point you in the right direction.

Question 2

What is an Enrolled Agent (EA) and how does it compare to a CPA?

Accepted Answer

Enrolled Agents and CPAs are both licensed, knowledgeable professionals who are required to maintain high ethical standards.  Both are also required to pass a series of tests to acquire their professional status and complete yearly continuing education to maintain it.  While CPAs are licensed through individual states, an EA license is issued by the IRS.  Enrolled Agents specialize in taxation while a CPA may have a broader area of focus which could include taxation, auditing, and/or financial statement review.  Both EAs and CPAs may also both provide tax planning and bookkeeping services, and both are able to represent you before the IRS.

Question 3

What are your rates?

Accepted Answer

The short answer, it depends.  We work on a flat fee basis which is dependent on the type of return required and its overall complexity.  We don’t believe in hourly rates billed in six-minute increments like many other firms.  Your flat fee will cover the entire process for that given tax year – from collecting your documents, to working through the preparation of your returns, and answering any questions you may have for us prior to hitting the submit button.  Fees start at $300 for individual returns on Form 1040.  Fees start at $750 for business returns on Forms 1065, 1120, and 1120S.  All fees also include your required resident state filing.  If you’d like to receive a fee estimate based on your specific set of facts and circumstances, please reach out via email or schedule a 15-minute discovery call through the link on the website.

Question 4

How do I get started as a new client?

Accepted Answer

We typically like to begin with a quick phone call to learn more about your tax situation and go over the process of working together.  We want to make sure that we’ll be a good fit to handle your tax filings and that you aren’t left with any questions.  You can schedule an intro call through the link on our homepage or by reaching out via email.  Please note, unless you'll be filing an extension, we typically stop taking on new clients for the current tax season in early March.

Question 5

Can you work with clients outside of Colorado or living abroad?

Accepted Answer

Yes!  Whether you’re living in another state permanently or temporarily or moved into or out of Colorado during the year, we can still help with the filing of your returns.  For any given tax year, we’ll typically assist taxpayers in 20+ states.  We also have extensive experience with tax filings for US expats living abroad and all of the extra wrinkles that come along with it.

Question 6

How do I submit my tax documents, and what does that process look like?

Accepted Answer

Your information is provided on a yearly basis through our secure online client portal.  Within the portal you’ll be able to complete your tax organizer, upload your documents, send and receive messages, e-sign your forms, and pay your invoice.  All functionality within the client portal meets IRS required security standards.  There’s also an app for the portal platform where you can securely manage the return filing process from your phone.  If you have hard copy documents and no scanner, the app is also great for snapping pictures of your tax forms and uploading directly to your portal account.  We strongly recommend that you do not send sensitive tax information over email or text.

Question 7

I’m not very tech savvy.  Can I schedule a meeting with you to provide my documents and prepare my returns in-person?

Accepted Answer

We’re a virtual firm that strives to be as efficient and paper-free as possible.  At this time, we’re not able to offer in-person meetings during tax filing season.  But we understand that many individuals receive their tax forms in the mail and don’t have easy access to a scanner.  If you’d prefer to provide paper documents, please just let us know ahead of time so we can provide instructions for doing so.  We’ll scan in your documents for our records and return your hard copies after the close of tax season.

Question 8

How secure is your client portal and who will have access to my tax information?

Accepted Answer

We understand the sensitive nature of your tax information and trust it requires, particularly as a first-time client.  Our client portal is 100% secure, widely used by tax firms across the country, and meets all security standards required by the IRS, which is why we require its use for the sending and receiving of all documents containing sensitive information.  We absolutely do not outsource any step of the filing process.  Your returns will be prepared in-house and your information never leaves the office.  Access to your information is encrypted and limited to employees of EMC Accounting Group only.

Question 9

What is your typical turnaround time?  Do you offer expedited tax preparation?

Accepted Answer

The short answer again, it depends.  During peak tax season, total turnaround time can sometimes reach 15-18 days.  Peak tax season typically begins in early March and lasts through Tax Day on April 15th.  Outside of peak filing season, average turnaround time will be closer to 7-10 days.  Early filers and extended returns will both fall into this estimated timeframe and the clock starts once you’ve finalized the submission of your organizer and documentation.  We provide updates on the estimated turnaround time as we progress through tax season, and while we work on a first in, first out basis, we understand that sometimes there are extenuating circumstances that require a quicker timeline.  Expedited prep may be requested at the time of your submission.  An expedite fee equaling 50% of your normal preparation fees will be added to your invoice.

Question 10

Do you offer bookkeeping services for small businesses, and what are your rates?

Accepted Answer

Yes!  We do provide bookkeeping services, but only through QuickBooks Online currently.  While we’re able to assist with historical bookkeeping cleanups to get started, ongoing services are only available on a monthly or quarterly basis.  Rates will depend on frequency, number of accounts, and volume of transactions.  If you’d like a quote for bookkeeping services, please reach out via email or schedule an intro call from the homepage.

Question 11

Do you offer services beyond tax preparation and bookkeeping, such as tax planning or consulting?  Are you able to provide financial and/or investment advice?

Accepted Answer

Outside of tax season, we’re more than happy to provide tax planning and consulting services or simply dive into any questions as it relates to your taxes.  However, as we’re not licensed to do so, we are not able to provide any feedback that could constitute financial advice.  If you’re seeking a referral for these services, we likely have a great contact to connect you with.

Question 12

I’m preparing my own return and just need some help along the way.  Can you assist with answering my questions?

Accepted Answer

Unfortunately, for liability reasons, we aren’t able to provide assistance with your self-prepared tax return.  We have extensive professional liability insurance, but that coverage only extends to our clients that have signed an engagement letter for that tax year.

EMC ACCOUNTING GROUP

Frequently Asked Questions

What types of tax returns do you prepare and file?

What is an Enrolled Agent (EA) and how does it compare to a CPA?

What are your rates?

How do I get started as a new client?

Can you work with clients outside of Colorado or living abroad?

How do I submit my tax documents, and what does that process look like?

I’m not very tech savvy. Can I schedule a meeting with you to provide my documents and prepare my returns in-person?

How secure is your client portal and who will have access to my tax information?

What is your typical turnaround time? Do you offer expedited tax preparation?

Do you offer bookkeeping services for small businesses, and what are your rates?

Do you offer services beyond tax preparation and bookkeeping, such as tax planning or consulting? Are you able to provide financial and/or investment advice?

I’m preparing my own return and just need some help along the way. Can you assist with answering my questions?