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What is the difference between using commercial software or online tax preparation tools vs. using the services of a professional?

Although software or online programs provide you with forms necessary to submit to the IRS and state, you are given the “cookie cutter” profile for an average taxpayer. These menu driven programs go through basics but cannot determine if extra opportunities for refunds or minimization of tax are available to the taxpayer. An experienced professional can identify these situations more readily having seen hundreds of returns and circumstances to reference from. MEKA Financial Services has significantly reduced the gap in price between professional preparation and commercial or internet software. Not using a professional can cost you possibly hundreds to thousands in missed refunds or minimization of liability . For the extra few dollars that it costs for the preparation, you can have peace of mind that all alternatives were thoroughly explored, even if the results are the same as that derived from the software

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How much will this cost me?

The price of a tax return is based on the individual circumstances of the taxpayer that engages our services.  There are no standard fees.  What we do promise return customers is that if at least one paid referral of a client was made by them in the year preceding the current year, we will hold the prior years price (assuming identical work product), multiple referrals will carry forward that price into future years until those referrals are exhausted.  Otherwise they, as well as brand new customers, will be charged current year standard rates. 

New customers can request a quote in the customer service section at the Contact Us tab of our website.  Existing customers can expect to pay a similar rate to what they paid the year before, assuming the work product is similar in labor intensiveness and that no special concessions were granted the prior year.  Customers must understand that there can be a special price increase if they decide to wait until the last five days prior to the April 18 deadline date (unless that is the only appointment we have available for you and we have indicated that).

One final word of caution-- We will be the first one to admit we are not the least expensive preparer in the market place.  There has been a sudden growth spurt in the preparer marketplace of  deep discount preparers.  They will quote you a price that is around the price you pay for the “over the counter” commercial software(probably because that is what they are using—we use a guaranteed and reputable tax software made especially for tax professionals). They will not sign your return, not provide any e-filing or ancillary services and they will demand “cash only.”   For the first recorded year in history, the IRS will only recognize preparers who are officially registered and credentialed with them.  Demand to know those credentials if we are not the firm you choose. 

There are even some qualified firms that will ask you to pay a contingency fee based on what they claim to have saved you in taxes.  That is both illegal and unethical and can get you, the taxpayer, in trouble.  Avoid that scenario at all costs.

When you remove those questionable competitors from the field and measure our prices against that of like credentialed competitors or national tax firms, you will find that we charge about half of what our competitors charge.

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If I use a tax preparation professional, will I get a greater refund?

Although you may receive a greater refund or lower tax due when having your taxes prepared by a professional, there is no magic involved. Tax professionals have no special authority to get you preferential treatment when it comes to your taxes. The better result is due to the efforts of the professional identifying an appropriate opportunity that exists for the taxpayer under the law.

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Can you tell me how much my refund will be or how much I owe before I make my tax prep decision?

To truly give you a definitive answer, the tax professional must prepare your return based on the information you provide them. This is a time consuming activity. If you have not made a decision to engage the tax professional for your return when your documents are submitted, please hold off until you are ready.  Although we utilize state of the art professional tax software and tools, human interaction is the key to delivering you a quality tax return product.  This is why we do not perform work on any form of contingency or allow people to “try before they buy”.  It is neither ethical or economical to do so.

Please know that when you have made the decision to engage our services, the end result will be reviewing your refund or liability with you and how it was derived.

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My friend makes about the same amount I do but got a bigger refund. Why? 

MEKA Financial Services considers the information of clients strictly confidential. We will not at anytime compare your return with that of another. There is a possibility that your friend had a completely different set of circumstances than you do. If you have issue with this, ask your friend about their case yourself. You will then realize how inappropriate a question this was to ask.

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I am a U.S. Alien who has returned to my home country. Should I file a tax return?

Any individual who has earned income in the U.S. during a taxable year must file a tax return. In about 90% of the cases an individual is entitled to a refund. Why leave this on the table? The money is yours. Individuals in the U.S. who have returned home after expiration of their F, M or J visa must file for the years they were in the U.S. even if they earned no income. One more point to consider is that if you wish to return to the U.S. in the future, your prior visa history may be examined by the BCIS(INS). One thing they look for is if the individual on visa has met all required obligations to the U.S.; among them, filing a tax return.  If you returned back in a prior year, you have three subsequent tax filing periods to file and secure that refund. Claim that money.

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I know I owe money for taxes, maybe I should not file

This by far is the biggest mistake one can make. Although the IRS and states may take time catching individuals not filing, eventually they will. From our own experience, we have seen individuals whose taxes were levied(garnished) from their pay for not paying taxes over a period of years. At that point, the IRS or state takes the attitude “shoot first and ask questions later.” Their levy department comes up with an estimate(often higher than that which would appear on the tax return) and will add on penalties and interest from the due date of the original tax return. At that point, expensive legal counsel may be necessary to get this administrative and financial nightmare reversed.

One note of caution also goes out to those aspiring to the gospel of those “you don’t need to pay taxes” books. Unless you are prepared to fight the IRS forever, think twice about the consequences of this action. 

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I did not get the refund stated on my tax return. Why?

Just because numbers appear on your tax return, this is no guaranty that you will receive the amount stated on the tax return. Some circumstances may lower or raise your refund depending on the nature of the transaction. Common examples are omitting a W-2 at the time of tax preparation, adjustments by the IRS and the presence of federal debt attached to your taxes (i.e. student loans). 

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My electronic refund did not arrive on its target date. Why?

On occasion, the IRS or state will pick a return randomly in a sample to be examined by hand. If that occurs, it may hold up issuance of a refund. Unfortunately nothing can be done by the electronic return originator to prevent that from happening. Taxpayers need not be concerned that this is a precursor to an audit. The practice of randomly sampling a return is common, though usually unlikely that it will happen to every taxpayer. 

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How do I check on the status of my refund?

Simply click on the refund locator link on our home page to the IRS and any state that has a refund locator site.   If you just submitted your efile  authorizations, allow up to 72 hours for them to actually appear on the websites.  We sometimes are given notice of acceptance by our tax software and then you ping the website and cannot find it.  There is a button on that linked page that will allow you to verify that we have submitted it for efile.  If it does not appear there and it has been greater than 48 hours since we have received your e file authorization paperwork, let us know.  We are always extremely busy during tax season, so this is the best way for you to verify this.

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Can U.S. Aliens start a business? 

Individuals need not even be a U.S. resident of any type to start a business in the U.S. and individuals on visa can engage in business activities as well. The key to making this work for you is knowing the rules associated with registering and operating a business in a way that will not conflict with the terms and conditions of your visa. Please contact us if you are interested in moving forward with such an activity.

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I got a notice. Is something wrong?

For the exception of notices claiming omissions from your tax return, which can occur if  you did not submit all documents at the time of filing or if you signed off on a return submission without inspecting its accuracy (always at least do a skim verification to make sure nothing was left out!), most levels of anxiety can be reduced by actually reading the text of the notice.  We cannot tell you how many times a customer has called when receiving a 1099-G  in January indicating the state tax refund they received in the tax year and called up saying they received a bill.  If they read what they received and followed instructions given by the notice, problem solved! And this is without having to wait for us to respond to a panicked call or email. Of course, if after reading the notice, you still do not understand what is being asked of you, please feel free to call.

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What can I do to save on taxes next year?An individual would be surprised with how many separate and distinct opportunities exist to save taxes, some which you might already be doing not realizing it is of benefit to you. After completion of your tax return, we will be happy to discuss opportunities for you to save additional money next year.

 
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