Question 1

When are business taxes due?

Accepted Answer

Due dates vary by entity type. S-Corps and partnerships file by March 15. C-Corps and sole proprietors (Schedule C) file by April 15. All deadlines can be extended 6 months by filing the appropriate extension form, but extensions do not extend the time to pay taxes owed.

Question 2

Do I need to pay estimated quarterly taxes?

Accepted Answer

If you expect to owe $1,000 or more in federal taxes after withholding and credits, you generally must make quarterly estimated tax payments. Due dates are April 15, June 15, September 15, and January 15. Underpaying can result in IRS penalties.

Question 3

Can I deduct my home office?

Accepted Answer

Yes, if you use part of your home regularly and exclusively for business. You can use the simplified method ($5 per sq ft, up to 300 sq ft) or the regular method based on actual expenses. The space must be your principal place of business or where you meet clients.

Question 4

How often should I update my books?

Accepted Answer

We recommend reconciling your accounts monthly. Waiting until year-end makes it much harder to catch errors, and you lose the ability to use your financial data to make real-time business decisions. Many of our clients use cloud accounting software that keeps books current automatically.

Question 5

What accounting software do you recommend?

Accepted Answer

For most small businesses we recommend QuickBooks Online or Xero. Both integrate with hundreds of apps, support bank feeds, and make it easy for us to collaborate with you in real time. The best software is the one you'll actually use — we can help you set up and train on either platform.

Question 6

Should I elect S-Corp status to save on self-employment taxes?

Accepted Answer

An S-Corp election can save significant self-employment taxes once your net profit exceeds roughly $40,000–$50,000, but it adds administrative costs (payroll, separate returns). We analyze your specific income, state taxes, and administrative costs to determine if and when the election makes sense for you.

Question 7

How do I apply for 501(c)(3) status?

Accepted Answer

The process involves incorporating your nonprofit in your state, obtaining an EIN, and filing Form 1023 or 1023-EZ with the IRS. Most organizations receive a determination letter within 3–6 months. We guide clients through every step, from drafting Articles of Incorporation to submitting the IRS application.

Question 8

What should I bring to my first meeting?

Accepted Answer

For individuals: prior year tax returns, W-2s, 1099s, and any notices from the IRS. For businesses: prior year returns, current year financial statements, payroll records, and a list of questions. Don't worry if you don't have everything — we'll help you identify what's needed.

Question 9

How do I access the client portal?

Accepted Answer

You'll receive an email invitation to our secure client portal when you become a client. From the portal you can upload documents, view and sign engagement letters, track return status, and securely message our team. If you've lost access, contact us and we'll resend the invitation.

Frequently Asked Questions

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