Phone: (844) 490-4434
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EMPOWER YOURSELF
Tax preparation doesn’t have to be stressful. This page simplifies the process with answers to common questions, key dates, and contact information—helping individuals and business owners stay organized with ease.
Staying on top of key tax deadlines is crucial for avoiding penalties. Here are the important tax dates to remember:
Tax filing through Keeper opens! Final 2024 quarterly tax payment due.
Deadline for employers and contractors to deliver forms (e.g., W-2, 1099-NEC, 1099-K).
Deadline for investment-related forms (e.g., 1099-B, 1099-INT, 1098).
Tax filing deadline for S Corporations and partnerships.
Tax filing deadline for individual taxpayers, extension filing deadline, and first 2025 quarterly payment due.
Final 2024 quarterly tax payment for S Corporations and partnerships. Also, the deadline for extended S Corporation and partnership tax returns (if applicable).
Staying on top of key tax deadlines is crucial for avoiding penalties. Here are the important tax dates to remember:
Tax filing through Keeper opens! Final 2024 quarterly tax payment due.
Deadline for employers and contractors to deliver forms (e.g., W-2, 1099-NEC, 1099-K).
Deadline for investment-related forms (e.g., 1099-B, 1099-INT, 1098).
Tax filing deadline for S Corporations and partnerships.
Tax filing deadline for individual taxpayers, extension deadline, and first 2025 quarterly payment due.
Follow these steps to ensure a smooth tax preparation process
By following these steps, you’ll be well-prepared for your tax appointment, ensuring an efficient and hassle-free process.
Follow these steps to ensure a smooth tax preparation process
Before scheduling your appointment, call (800) 304-3707 to confirm that you don’t have any outstanding obligations. If you have a balance due, you will need to pay for tax preparation upfront.
If you have Marketplace insurance (Obamacare), bring your 1095-A form. Without this form, your return will be rejected.If you don’t have the form, contact (800) 318-2596 to request a copy or get help accessing it online.
A valid driver’s license or state-issued ID. Social Security cards for yourself and any dependents. W-2s, 1099s, or any other relevant tax documents.
Fill out our Intake form carefully, ensuring all names and spellings are accurate to avoid delays.
SCHEDULE APPOINTMENTGet answers to the most common questions about our services and tax preparation process.
An Identity Protection PIN (IP PIN) helps safeguard your tax return from identity theft. You can request one directly from the IRS by visiting: Get an Identity Protection PIN
Not everyone is required to file a tax return. Use the IRS tool to determine whether you need to file based on your income, filing status, and other factors: Check If You Need to File a Tax Return
To estimate your tax withholdings and ensure you’re on track with your tax payments, use the IRS Tax Withholding Estimator: Tax Withholding Estimator
If you’ve submitted an amended tax return, you can track its status online through the IRS tool: Where’s My Amended Return?
Business owners can typically deduct expenses that are "ordinary and necessary" for operating their business. These may include office supplies, rent or lease payments, utilities, employee salaries, marketing costs, travel expenses, and even some vehicle expenses. It’s essential to keep detailed records and receipts to substantiate these deductions.
Learn more about deductible business expenses on the IRS website
The choice of business entity impacts your taxes, liability, and operations. LLCs offer flexibility with pass-through taxation, while S-Corps allow owners to save on self-employment taxes by paying themselves a reasonable salary. C-Corps are better for businesses planning to reinvest profits or seek investors but are subject to double taxation. Consulting with a tax preparer can help you determine the best fit for your business goals.
IRS information on business structures
There are several strategies to minimize tax liability, including maximizing deductions, contributing to retirement plans, leveraging tax credits (like R&D or hiring credits), and timing income and expenses to your advantage. A tax preparer can guide you through year-end planning and identify opportunities to reduce your tax burden.
IRS Tax Planning and Strategies for Small Businesses
Yes, most business owners are required to pay estimated taxes if they expect to owe at least $1,000 in taxes when filing their annual return. These quarterly payments cover income tax and self-employment tax (Social Security and Medicare). A tax preparer can help you calculate and plan for these payments to avoid underpayment penalties.
IRS Estimated Taxes Overview
Whether you need to file depends on your income, filing status, age, and if you're a business owner or self-employed. Generally, if your income exceeds the standard deduction for your filing status, you are required to file. Special rules apply for self-employed individuals who earned $400 or more in net income. Learn more about filing requirements on the IRS website
The standard deduction is a set dollar amount that reduces the income on which you're taxed. The amount depends on your filing status (Single, Married Filing Jointly, etc.) and adjusts annually for inflation. You can choose to itemize deductions instead if your itemized deductions exceed the standard deduction. See the current year's standard deduction amounts on the IRS website
You can check the status of your refund using the IRS "Where's My Refund?" tool. You'll need your Social Security Number or ITIN, filing status, and the exact refund amount shown on your return. Check your refund status on the IRS website
An Employer Identification Number (EIN) is a unique identifier for your business, similar to a Social Security Number for individuals. You can apply for an EIN online through the IRS, and it is free of charge. Businesses need an EIN to open bank accounts, hire employees, or file business taxes. Apply for an EIN on the IRS website
OUR PRICING
At ThomFlip Financial Services, we believe in full transparency when it comes to pricing. Whether you're an individual filing a straightforward tax return or a business owner with more complex needs, our detailed fee structure ensures you only pay for the services you need.
Our pricing is designed to accommodate your unique financial situation. Basic individual filing starts at $300 for Form 1040, with additional services priced separately.
Running a business comes with its own set of tax obligations. Our services cover everything from profit and loss reporting to claiming business-related tax credits. Schedule C (Business Profit or Loss) starts at $550.
Estimated Cost Insight: These are typical costs based on common forms used by individuals with itemized deductions, self employed business owners and small business partnership, offering a clear picture of potential tax preparation expenses.
