FAQ

Here are some frequent questions that my clients ask. Feel free to email me via my Guest Book with your specific questions.

Q. How much do you charge?
A. My fee is based on the number of forms and schedules needed and the amount of time involved in the preparation of your return. If you call me, I can get a feel for how complicated your work is and provide you with an estimated fee. My fees are less than typical CPA firms and may be more than the "fast food" chain of commercial tax preparers. I believe we offer the best professional value in town.

Q.  How quickly can I receive my tax refund?
A.  Within 2-3 weeks, if you use direct deposit service. Your refund will be deposited directly into your bank account within 2-3 weeks, at no additional charge.

Q.  What if I have a tax question during the tax year?
A.  As a regular tax preparation client you may contact me as often as necessary during the year for tax planning advice. There is no charge for brief telephone, fax or email questions or advice. For more detailed consultations, which require specific research, worksheets or written opinions I will, at my discretion, charge at an hourly rate of $75.00.

Q.  What do I do if I haven't received my refund?
A.  The Internal Revenue Service has a toll free number to handle your refund inquiries. It is 1-800-829-4477. Please have your social security number, your filing status, and the whole dollar amount of your refund handy. Also, please allow from 4 to 6 weeks before calling. NYS REFUND, call 1-800-321-3213 for direct deposit service,1-800-443-3200 for all others.

 Q.  I cannot pay my tax bill this year? What can I do?
A.  The Internal Revenue Service provides for individuals, who cannot pay their bill in full, to pay in installments, for up to five years .Contact IRS on 1-800-829-1040 and negotiate with them payment plan that fits your budget.

Q.  How long do I keep my tax records?
A.  The Internal Revenue Service suggests 3 years from the due date of your last return. However, we suggest that you discard receipts, bills and credit card statements after 3 years. However, your tax returns, W-2s, 1099s from banks and mutual funds or brokerage firms or any contract for an asset you still own should be made a part of a permanent file.

Q.  What if I get a letter from the IRS?
A.  If you receive a letter relating to a federal or state tax return I have prepared, send it directly to me immediately and I will respond accordingly. I do not charge for responding to tax notices when the return was correct as originally filed, or if I made an error. If I have to prepare additional forms or schedules or an amended return, I may have to charge an additional fee.

Q.  What do you need to prepare my tax return?
A.  I will gladly send you, via email, fax or postal mail, a list of the specific information I will need to properly prepare your tax return. Email your request to KarinMJacobi@aol.com


Q.  How can you save me money?
A.  We have 11 years of experience to draw from in tax planning and business advice. We explain various tax-saving ideas in plain language and let you choose which ideas you would like to implement to save you money. Most of our clients save much more than the cost of preparing their tax returns.

Q.  When I sell my personal residence, how long do I have before I must buy a replacement home?
A.  To avoid paying capital gain taxes, you no longer have to buy a replacement home when you sell your personal residence. In 1997 congress passed new laws concerning the sale of personal residences. If you have lived in your home for 24 of the last 60 months when you sell it, you do not pay any tax on up to $250,000 of gain ($500,000 if you are married filing jointly), even if you do not buy another home. Also, you are now allowed to do this every two years and there are no age limitations.

Q. How do I gain access to the "Client" portion of the web site?
A.  Click the "log-in" link at the top right. Enter your log-in name and password provided to you by Harmony and Co. You are now in the client's area of the web site. From here you can submit information to us using your on-line TAX ORGANIZER or view documents and files (like prior year tax returns)Harmony and Co. has set up for you, in the "Cyber Cabinet." Click on either button and follow the easy instructions.