FAQ
Q. How much do you charge?
A. Our fees are based on the number of forms and schedules
needed and the amount of time involved in the preparation of
your return. If you call us, we can get a feel for how
complicated your work is and provide you with an estimated
fee. Our fees are less than typical CPA firms and are
comparable to the "fast food" chain of commercial
tax preparers you may see advertised on television. With a
combined total of over 100 years of experience we 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 and
e-file your return. 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 us as
often as necessary during the year for tax planning advice. For more detailed consultations, which
require specific research, worksheets or written opinions we
will, at our discretion, charge at an hourly rate of $175.00
Q. What do I do if I haven't received my refund?
A. The Internal Revenue Service has both a website www.irs.gov,. and 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 7 years from the due
date of your last return. However, we suggest that you
discard receipts, bills and credit card statements after 7 years.. It
is important to keep closing statements and remodeling bills
on your home so that at time of sale certain expenses may be
added to the basis of the property and thereby limit the
capital gains of the sale and 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 we have prepared, send or fax it directly to us
immediately and we will respond accordingly. We do not charge
for responding to tax notices when the return was correct as
originally filed, or if we made an error. If we have to
prepare additional forms or schedules or an amended return,
We may have to charge an additional fee.
Q. What do you need to prepare my tax return?
A. We will gladly send you, via email, fax or mail, a
list of the specific information we will need to properly
prepare your tax return. E-mail or fax your request.
Q. How can you save me money?
A. We have 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 contact John P. Spinelli's office?
Telephone (631) 475-3322, Fax (631) 475-7810,
E-mail: info@jps-cpa.com
Mail: 197 E Main Street, Patchogue, NY 11772.