kevin j. zulch – tax consultants and accounting
1. What are your fees?
• Our fees are assessed based on the type of project we are working on. We bill hourly for our time spent on ongoing projects, such as bookkeeping arrangements, payroll services, quarterly and annual filings, as well as special requests. Our fees for tax preparation services based upon the number of schedules involved, if additional states are required, as well as the complexity of the return.
2. When will I receive my tax refund?
• Once your tax return is filed with the tax authorities, the general rule of thumb is that it takes 7-10 business days for direct deposit into your account from the IRS, and roughly 8 weeks from NYS. However you can check on the status of your return on their respective websites as indicated below.
Where's My Refund? will usually have information about your refund 72 hours after IRS acknowledges receipt of your e-filed return, or three to four weeks after mailing a paper return. Check back weekly, on Wednesdays, for any updates to your refund information.
• IRS Refund: Call 1-800-829-4477 or use the ‘Where is my refund?’ website: https://sa2.www4.irs.gov/irfof/lang/en/irfofgetstatus.jsp
• NYS Refund: Call 1-800-443-3200; website: https://www8.tax.ny.gov/PRIS/prisStart
3. Why don’t I receive a paper copy of my tax returns for my files?
• Our office, like so many other organizations, has focused our efforts on being as “green” as possible. This means we are shifting towards being as paperless as possible. We began sending copies of tax returns via PDF files through e-mail several years ago, and many of our clients prefer this method. If you do not have access to a printer, please let us know so we can accommodate your needs.
4. Can you file my return if I get my information to you a few days before the deadline?
• We request that our clients send us the info to prepare their tax returns with the expectation that we turn it around within 10-14 business days. This is our general guideline, and we always do our best to expedite our processing as a client's urgent needs may arise. However, there is no guarantee that we can turn around a return within two days. We pride ourselves on service excellence, and this just does not give us the time we need to properly prepare, review and deliver tax returns up to our standards.
5. What records should I keep?
• In most cases, the IRS does not require you to keep records in any special manner. Generally speaking, you should keep any and all documents that may have an impact on your federal tax return. Individual taxpayers should usually keep the following records supporting items on their tax returns for at least three years:
- Forms W-2 and 1099-MISC showing income received
- Bills
- Credit card and other receipts
- Invoices
- Mileage logs
- Canceled, imaged or substitute checks or any other proof of payment
- Year-end statements from banks
- Any other records to support deductions or credits you claim on your return
6. How many years do I have to keep past information?
• The IRS recommends keeping your records for at least 3 years.
7. What is cost basis?
• This is the amount you actually paid for any stocks, bonds, mutual funds, real estate, commodities or any other investment that you have purchased. When you sell a stock we need the cost basis in order to calculate whether the sale resulted in a profit or a loss. Starting in 2011, all brokers will be required to report basis.
• Our fees are assessed based on the type of project we are working on. We bill hourly for our time spent on ongoing projects, such as bookkeeping arrangements, payroll services, quarterly and annual filings, as well as special requests. Our fees for tax preparation services based upon the number of schedules involved, if additional states are required, as well as the complexity of the return.
2. When will I receive my tax refund?
• Once your tax return is filed with the tax authorities, the general rule of thumb is that it takes 7-10 business days for direct deposit into your account from the IRS, and roughly 8 weeks from NYS. However you can check on the status of your return on their respective websites as indicated below.
Where's My Refund? will usually have information about your refund 72 hours after IRS acknowledges receipt of your e-filed return, or three to four weeks after mailing a paper return. Check back weekly, on Wednesdays, for any updates to your refund information.
• IRS Refund: Call 1-800-829-4477 or use the ‘Where is my refund?’ website: https://sa2.www4.irs.gov/irfof/lang/en/irfofgetstatus.jsp
• NYS Refund: Call 1-800-443-3200; website: https://www8.tax.ny.gov/PRIS/prisStart
3. Why don’t I receive a paper copy of my tax returns for my files?
• Our office, like so many other organizations, has focused our efforts on being as “green” as possible. This means we are shifting towards being as paperless as possible. We began sending copies of tax returns via PDF files through e-mail several years ago, and many of our clients prefer this method. If you do not have access to a printer, please let us know so we can accommodate your needs.
4. Can you file my return if I get my information to you a few days before the deadline?
• We request that our clients send us the info to prepare their tax returns with the expectation that we turn it around within 10-14 business days. This is our general guideline, and we always do our best to expedite our processing as a client's urgent needs may arise. However, there is no guarantee that we can turn around a return within two days. We pride ourselves on service excellence, and this just does not give us the time we need to properly prepare, review and deliver tax returns up to our standards.
5. What records should I keep?
• In most cases, the IRS does not require you to keep records in any special manner. Generally speaking, you should keep any and all documents that may have an impact on your federal tax return. Individual taxpayers should usually keep the following records supporting items on their tax returns for at least three years:
- Forms W-2 and 1099-MISC showing income received
- Bills
- Credit card and other receipts
- Invoices
- Mileage logs
- Canceled, imaged or substitute checks or any other proof of payment
- Year-end statements from banks
- Any other records to support deductions or credits you claim on your return
6. How many years do I have to keep past information?
• The IRS recommends keeping your records for at least 3 years.
7. What is cost basis?
• This is the amount you actually paid for any stocks, bonds, mutual funds, real estate, commodities or any other investment that you have purchased. When you sell a stock we need the cost basis in order to calculate whether the sale resulted in a profit or a loss. Starting in 2011, all brokers will be required to report basis.
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