Our practice is centered on saving you money, pleasing customers and pursuing excellence. The issue with taxes has competing interests at play. Uncle Sam wants to collect as much as he can. On the other hand, no one wants to overpay their taxes and no one wants to expose themselves to tax audit risks. In order to thrive while navigating on those opposing views, we do our work geared towards following the law and maximizing benefits that are legal and in the books in a deliberate, conscientious manner.
In the past, we have helped clients who filed frivolous tax returns and were audited. They were victims of dishonest tax preparers who promised them huge refunds whose ulterior motive was to collect a hefty fee. These poor taxpayers ended up returning the refunds they received from the IRS with substantial penalties and set their names up for internal IRS “Red Flag” alerts.
What most taxpayers want, including us, is for the Feds and the State to leave us alone incognito and not monitor our filings every year. Our practice strives to achieve just that.
On the accounting side, Bonus Tax Pros is also a proponent of up to date, well organized and accurate record keeping. Accurate and timely record keeping allows businesses to know how they are performing.
Not knowing how the business is actually doing leads management to make uninformed decisions about the business. Actions like expanding, hiring, tightening the belt or consolidating are decisions best made when backed by concrete numbers.
Without the proper information, decisions are made blindly and most of the time will not be the best decisions under the circumstances.
Many businesses learn that they actually saved money by seeking the help of an experienced accounting professional.
Let us highlight here a statement by a wise businessman who said “You pay for an accountant whether you hire one or not.”
The reason this is true is because making poor decisions based on inaccurate accounting records waste money. It is better to spend that money into something that pays you back in knowledge, service and confidence.
Your data belongs to you and is kept by us in confidence. As a good steward of your data, we will never sell your information to anyone or expose it to unnecessary risks. At your instructions, we will share your information with third parties like banks, your associates or partners. By law, in extreme cases, we may be compelled by court order to release a part or the whole of your data. In such case, you will be promptly notified before we act on it.
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While federal law requires us to keep clients’ tax documents and supporting records for three years, the IRS may audit records up to six years back in certain cases. So, it is important that you retain a copy of the documents you shared with us and keep them for up to six years.
