* We charge for our services, including telephone or email consultations lasting over 15 minutes. For our rates, refer to our Policy Statement/Engagement Letter. *
** To become a client or to get our tax worksheets, go to the Tax Worksheets page. **
Our firm specializes in several areas. But before we tell you about those areas, let us tell you the areas in which we do not involve ourselves to avoid any unnecessary questions. We DO NOT perform any bookkeeping, payroll, or accounting functions. We DO NOT prepare income tax returns for C corporations, partnerships, trusts, estates, or 501(c)(3) non-profit organizations/ministries. We can prepare income tax returns for S corporations, since we are one ourselves. We DO NOT get involved in IRS disputes on tax returns that we did not prepare. We are NOT experts in sales, property, or non-Texas franchise taxes. We ARE experts in preparing income tax returns for self-employed people, especially independent beauty Consultants and Directors of a certain global cosmetics company. Because we have so many clients and Jeff The Tax Man is the only one who signs (requiring him to review) all the returns, he does not have time for appointments with new clients. Instead, we have designed simple, concise, self-explanatory income tax data worksheets, which you can access from our Tax Worksheets page, that ask for at least 97% of all information that would be necessary to complete any new or existing client’s tax return. The following areas are the ones in which we can help you:
Income Tax Preparation – Our experience has shown that it makes a difference that the person who prepares your income tax return understands your particular situation (business). We understand home-based businesses, because we are one. Moreover, we know more about preparing tax returns containing a particular cosmetics business than probably any other tax preparer in the country. (See the Why Use Jeff page for examples.) In fact, there probably is not another single tax preparer, or even firm, that prepares as many cosmetics business tax returns as I do by myself. I probably prepare about 10 times as many tax returns containing a Schedule C, and about 50-100 times as many tax returns containing a cosmetics business, as most other preparers. And what a difference that makes. For one client our expertise in that particular cosmetics business flipped their experience from paying $12,149 in additional tax in the prior year with a cautious, less knowledgable tax preparer to getting a refund of $11,338 in their first year with us. As an example, just understanding how to fully deduct the free company car versus how their former tax preparer deducted it saved them over $8,600 in taxes. In another instance, altogether over five tax years Jeff The Tax Man helped another client save OVER $41,000 in taxes through her cosmetics business. If you wish for us to prepare your income tax return(s), then simply download from our Tax Worksheets page and complete the appropriate worksheets for your particular situation and send us the completed worksheets, along with ALL ORIGINALS of Forms W-2, 1099, 1098, and Schedules K-1. Make a copy of what you send us for your records. DO NOT SEND US ANY RECEIPTS. We will email or call you with questions or with the results of your tax return. Due to the complexity and large number of returns we have to prepare, please allow at least six weeks before any tax-filing deadline for us to complete your tax return.
Amending Prior Year Tax Returns – IRS rules allow you to amend an income tax return 3 years from the date it was filed or the due date of the tax return, whichever is later, and include any deductions that were overlooked on the original return. In one example, Jeff The Tax Man made just two simple changes to a client’s prior three years’ returns and recovered over $9,000 in refunds for them. In another example, he used his special knowledge of a certain global cosmetics company to recapture over $20,000 in refunds by amending one year’s federal and state returns for a Kansas City NSD and her husband. If you have operated a cosmetics or other home-based business for longer than just last year and you wish us to amend 1 or more of those returns going back up to 3 years, then simply complete the appropriate worksheet from our Tax Worksheets page for that specific tax year and send us the completed worksheet, along with a copy of your originally filed tax return for that specific tax year. Due to our heavy workload during February through October, the best time for us to amend tax returns is from November through January, unless the three year statute of limitations is about to expire.
Tax Estimating and Planning – If your income is derived entirely from self-employment, you may need help estimating your quarterly tax payment amounts. Or, if you have had an extraordinary event(s) occur in your life, such as an inheritance, the sale of stock or property, unemployment, going from being an employee to being self-employed, or withdrawal from your 401(k) plan, and you want to know the tax implications, let us help you estimate your potential liability. We may be able to recommend some tax planning strategies that save you money. We strongly urge you to call us before you take any action and put into motion some tax consequences that cannot be reversed. Also, November and December are the best time of year for us to review the current year’s tax picture and make recommendations in time to execute them before the end of the year.