FAQ
Questions we get asked first
If yours is not here, ask it directly. The answer is usually short.
Do you work with clients outside North Carolina?
Yes. The firm is based in Greenville, North Carolina and works remotely with clients in all 50 states. Meetings are by video or phone, and documents move through a secure portal.
Do you do bookkeeping?
Not at the CPA firm. Monthly bookkeeping is handled by bookkeepz, LLC, an affiliated company. Returns come together faster, and more accurately, when the books were kept current during the year.
What does a return cost?
It depends on the entity, the number of states, and the condition of the records, which is why the scope and the fee go in writing before work starts. What we do not do is quote a low number and add hourly charges to it later.
Can you fix a prior year that was filed wrong?
Often, yes. Amended returns are ordinary work here. Whether amending is worth it depends on the size of the change, how far back it goes, and whether the statute of limitations is still open. That is a question we can answer before you commit to anything.
My S election was filed late. Is that fixable?
Frequently. Revenue Procedure 2013-30 provides relief for many late elections, but the request has to be built correctly and the window is not indefinite. Bring the paperwork and we will tell you where you stand.
What is reasonable compensation, and how do you determine it?
An S corporation shareholder who works in the business must be paid reasonable compensation for those services before taking distributions. There is no single formula. We document what the role would cost to replace, what the shareholder actually does, and what the company can support, so the number has reasoning behind it rather than being a guess.
Do you handle IRS notices?
Yes, for clients whose returns we prepared, and for others on a scoped basis. Send the notice before responding to it. Many are automated, some are wrong, and the response deadline is usually shorter than people expect.
When should we talk about planning?
Earlier is better. Anything that turns on timing, retirement plan funding, or entity structure affects the year it happens in, so a conversation in the fall leaves you more options than one in April. For a sale, or a move into a new state, before you sign.
Are you taking new clients?
Yes, with capacity limits during filing season. If we cannot take your work in the timeframe you need, we will say so rather than accept it and file an extension you did not ask for.
Still have a question?
Email it. You will get an answer from a CPA, not a form response.