Questions and Answers
If I want to start working with you, what do we do?
We always begin with an initial “get acquainted” meeting. There will be several things we ask you to send us ahead of that conversation so we can speak accurately to your situation. We typically have several of our team members attend. This helps you get a better feel for what working with us will be like, but also lets our specialists learn more about your business.
Of course there is not a fee for this meeting.
How do you bill for your services? Hourly, value, fixed?
We prepare an annual tax return for many individual and business clients at a fixed fee. However, for real estate professionals and investors we much prefer to have an ongoing consultative relationship. We have designed three service packages that are based on the scope of work you might need throughout the year. These include an easy to manage monthly payment plan. You can review these options on the Programs page of this website.
What kind of expenses can I use to reduce my tax liability?
As a business owner there are many ways you can reduce your tax liability. Home office, meals, retirement benefits, and health insurance payments are just some of them. We schedule tax analysis and planning meetings with our clients during the year to help them with tax reduction strategies before the typical end-of-the-year rush.
What is the best way to manage and track my business expenses?
The simplest way to do this is to use a separate credit card for all business expenses. This card can be in your personal name but is only used for business expenses. Also open a separate bank account that is in your business name. Pay yourself out of this account, do not comingle funds between your personal and business account.
As a real estate professional, how do I write off my vehicle expense?
To maximize your auto related deductions you must keep excellent records. An app that helps you track your mileage at the start of the day and a record of each trip you make, noting those that are business related, is critical. Caution! It is tempting to purchase a new vehicle to take advantage of the advanced depreciation rule for the first year of ownership. However, using industry practice, it may be more beneficial to use the standard mileage deduction.
Have Questions About the New Tax Laws?
Tina Minton is available to share with your business team or service organization. Her 30-minute presentation is ideal for sales meeting, lunch and learn, or other events. Please contact Brea at 757-546-2870 to schedule.
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Summer Only: 8:30 am – 1:30 pm