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1214 West Bearss Avenue, Tampa, FL 33613
Ph: (813) 886-9567 - (813) 749-9471
Frequently Asked Questions

Accountants specialize just like medical personnel. Home Child Care, construction, rental properties, auto based businesses, home based businesses, animal based businesses, direct sales, landscaping, and couriers are some of our specialties.

We service clients in all States, processing both Federal and State returns. The Internet has opened up a whole new world for our profession. Data can be transmitted by email, fax, US mail and UPS. Questions can be asked and answered by email. Returns can be emailed to clients for review before completion. Deposits and fees can be paid via PayPal from this website. Completed returns can be sent to clients by email or UPS. We've been using this procedure for several years, now. Our clients seem very pleased with how well it works.

We stay current with all of the rule changes every year and are in contact with the IRS every month. Our goal is to legally minimize your tax liability and maximize your tax refund.

We provide help sheets, data sheets, tax advice, financial advice, financing assistance, telephone and email support, all year 'round for our clients. That is why you need an accountant.

Review of Previous Tax Returns

If you had your prior years' returns completed by anyone else, we may be able to retrieve several hundred to several thousands of dollars in refunds for you. If we cannot retrieve more than twice our fee in refunds and there are no substantial violations of law that MUST be amended, we will advise you not to amend and there will be no charge.

Estimated Tax Payments

The big bite for self employed persons is NOT income tax, but self employment tax. Meaning, your Social Security and Medicare tax payments. This tax is calculated on your NET PROFIT. You must deposit a sufficient amount into your withholding account by January 15 each year or a substantial underpayment penalty of $500 can be assessed by the IRS. This is where we come in. We can help you structure your account, so that you can avoid these costly pitfalls.

Other Services

Our clients also use us as a sounding and information board all year long. That's part of our service. We do IRS interventions and State Tax interventions. We provide referrals to attorneys, investment counselors, bankers, insurance agents, and other financial professionals are part of our job. Assistance with loan applications, insurance settlements, Food Program forms, Social Security forms, and financial aid forms are part of our service to our clients. Only a Firm with a large and diversified client base knows how to, and is able to, perform all of these services.

The following are some of our more Frequently Asked Questions. This list will continue to build.

1. How do I become a client?

Becoming a Client

  1. We will send you a Policy & Procedures Statement and a Client Sign Up Sheet by return mail when you email us your address. You can also print the sheets from your computer.

  2. IF, after your read the Policy & Procedures Statement, you choose to become a client, fill out the Client Sign Up Sheet and return it with a check, Money Order or PayPal for $50. If you prefer us to do your receipts, we ask for $100. This is a deposit which will apply to your tax return preparation fee.

  3. We will send you a Data Pack (Gold or Blue or Both), these can also be printed from our homepage. If you'd like we will send you a disk with your business categories set up for either Quicken or QuickBooks. I recommend Quicken. When you get the disks, we will walk you through setting up and some initial key entries by phone, no charge, if you choose.

  4. Please keep track of your receipts. You can make copies of the data pack and use it monthly, if you like. At the top of Page 1 is a line for the time period SEP2002, as opposed to 2003 (end of the year). At the end of the year, you total your monthly sheets on a colored copy and label it 2003.

  5. If you use Quicken or QuickBooks, do your entries every night, once a week, whatever. At the end of the year, do a backup disk of the file.

  6. At the end of the year you send to us:

    • The completed Data Pack, - Blue for Child Cares or Gold for Self Employed. These help sheets can be printed from our webpage.
    • All W-2's
    • A copy of the "Settlement Statement" for your house.
    • A copy of your form 1098 (Mortgage Interest) from every lender on your house.
    • A copy of your real estate tax or property tax invoice, if you pay it separately.
    • A copy of the purchase agreement from the dealer for each of your cars, if you can find them (not critical).
    • A copy of your last year's return.
    • A copy of all previous years return containing self employment forms.
    • A completed yellow check sheet, you can print the checklist from our webpage.
    • A copy of all 1099 forms.
    • A copy of all employee forms (W-2, W-3, 940, 941 and your states' Unemployment forms).

When we get all this, I will email you or call you to discuss it. When we get into the account, we will email you on progress, etc.. When completed, we will call you with results and remainder of fee.

You send us a check or submit payment through PayPal. When the check clears, we UPS your total return, the FEDERAL copy, the STATE copy, YOUR copies in a pretty blue folder, ALL worksheets and supporting statements and YOUR raw data. If you are ever audited, all you need is YOUR copy of your return in the pretty blue folder and your box of receipts. Everything is explained in YOUR copy of the return.

For the rest of the year, you have unlimited telephone and email support.

So, if you choose to become a client, email us your address, you can also sign our guest book with telephone #. All information you enter into the guest book can only be read by NELSON & RILEY. The Policy Statement and Client Sign Up Sheet will go out the next working day or you can print the sheets from our webpage.

2. What can be done if I didn't deduct everything I could on a past return?

REVIEWING AND AMENDING TAX RETURNS FROM PREVIOUS YEARS

Anytime *_BEFORE_* January 5th, or *_AFTER_* May 15th, you should UPS (NOT mail) COPIES of your previous three returns to us. With UPS, you have a tracking number, so you can tell where your package is and it's a lot less likely to get lost. However, you can mail them if you like. It's your choice. Please, never mail originals.

Once received, we will analyze them. If we find any holes, missing or understated information and we believe we can retrieve you enough money (at least twice our fee), we can amend, changing your last three years of returns, including the current year. We email you with the results of our analysis.

If you want us to amend them, we then send you a Sign Up Sheet and Policy & Procedures Statement, these sheets can also be printed from our webpage. You fill out the Sign Up Sheet and send it to us with the $50 deposit (check or PayPal), which is applied toward the fee. Then we send you a Data Set and Check List for each year, these can also be printed from our site. A Quicken Category Disk will also be sent by return mail.

You recalculate your data for the oldest year, using our data guides, and send it back to us. Then we go to work. Right now, 2002 is the current tax year. We can amend 1999, 2000, 2001 until April 15, 2003 . After April 15, we can no longer amend 1999 because 2002 becomes the current tax year and 1999 is more than three years back.

If after receiving your reworked data, we can actually retrieve more than twice our fee, we go to work .When we complete the first amendment, we notify you of the results and the remainder of the fee for that year. We ship you the amended return. You then send us a check or pay through PayPal for the amended return and the revised data for the next oldest year, using our data guides. You mail amendment you just received to the IRS, in the envelope we provide. We will wait until you give us permission to amend the next year. Some people like to actually get the refund from the IRS before they have us proceed. That is, after all, proof.

When we get your permission, we start work on the next oldest year. When we notify you of the results of that amendment, you send us the fee and the revised data for the current year. We send you back the amended return. You mail it to the IRS in the envelope we provide and so on. This goes on until we have amended all available returns. Your deposit applies to the final amendment.

If we can't get you back enough money (at least twice our fee), and there are no violations of law that MUST be corrected, then we send you back your returns (or destroy the copies you sent - your choice), but no additional materials. Your cost is the postage both ways. There are no fees.

If you want to become a client anyway, then we send you the sign up materials or you may print the sheets from our webpage. You send them back with your $50 deposit or submit a $50 payment through PayPal. We send you back your prior year returns after pulling off the data that we can apply to the next year.

Each year after that, you send us your data in January, or February and we process the return, keeping you posted by email and/or telephone. We will notify you when the return is completed. You then send us the balance of the fee and we will UPS the return and your raw data back to you.

If you are the member of a forum on which I post, or an organization at which I speak, you will receive a 15% discount off of your fee. If you refer someone else who becomes a client, you receive another fee discount. Please let me know who referred you to us, so that we can give them a referral discount.

PHONE: 813-886-9567 - FAX: 813-749-9741

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