FREQUENTLY ASKED QUESTIONS
Q: How much do you charge to do tax and accounting services for my business?
A: As you may expect, the fee depends on what and how much services your business needs from us. Our fees, however, is very reasonable comparing with the fees other CPA firms will charge you. Furthermore, we speak your language & pay closer attention to you. With our past auditor experience and a master degree in tax and accounting, you definitely will get more value from us. Please stop by our office for a meeting to see how we can help you minimize your tax, reduce your IRS trouble, and grow your business
Q: I have a small business, why should I choose a CPA for my business?
A: When you have a business, your tax and financials become complicated. You will have issues like business structure, shareholder payroll, retirement plans, change of ownership, basis calculation, etc. Don’t assume anyone can be your accountant. Only an experienced CPA can do a professional job for you and avoid your costly trouble in the future.
Q: What are the differences between a CPA and non-licensed accountant or a tax preparer?
A: A CPA is an expert on tax and accounting. He has to meet licensing, experience, and continuing professional education (CPE) requirements in order to maintain his license:
· Pass rigorous CPA examinations on tax, accounting, business law, and audit
· Have minimum two-years (now is one-year after a 5 year college) public accounting experience
· Be licensed by the State Board of Accountancy
· Complete 120 hours CPEs in every 3 years
· Follow strict professional code of conduct
· Have other CPAs to review his work
On the contrary, anyone can claim he/she is a tax preparer or a non-licensed accountant. So for reliable services, less IRS problems, and minimized tax, you should choose a CPA for your tax and accounting needs.
Q: Do you have free initial consultation?
A: Yes, we offer 15 minutes free first consultation for general issues. It’s always free if you talk with us about potential services we can offer to your business.
Q: How much do you charge to prepare my individual tax returns?
A: The fee for individual tax returns will depend on how complicated your tax will be. Our basic fee for a family with itemized deduction is about $100 including minnesota state return and free e file. There’ll be additional fees for items not covered in the basic fee schedules. The fee should be a small factor when you are choosing an accountant. The more important concerns should be minimizing your tax and reducing potential IRS trouble. You should hire an accountant with license, experience, knowledge, ability, and willingness to work with you thus you can trust his service.
Q: I’ll be a new client for you. What should I bring for my individual tax returns?
A: Please bring a copy of your previous year tax return with all current year tax related documents like all W-2s, 1099s, 1098s, etc. you received. Other documents you should bring include Kids K to K-12 education expenses, stock purchase prices, child care provider information, etc. If you have rental properties or a business, please download an organizer from our Organizer title to help you gather all deductions you have.
Minority communities and their businesses are our focus. We understand your difficulties and your needs. We care about your success. We speak your language. You’ll receive not only licensed CPA service but also more personal attention and long term commitment from us.