First State CPAs and Associates

52 minutes ago

𝗪𝗶𝗹𝗹 𝘁𝗵𝗲 𝗜𝗥𝗦 𝗷𝘂𝘀𝘁 𝗳𝗶𝗹𝗲 𝗺𝘆 𝗿𝗲𝘁𝘂𝗿𝗻 𝗳𝗼𝗿 𝗺𝗲 𝗶𝗳 𝗜 𝗱𝗼𝗻’𝘁 𝗳𝗶𝗹𝗲?

If you are significantly delinquent (as in 1+ years unfiled and multiple IRS notices sent), the IRS will file a Substitute for Return immediately.

Letting the IRS file your return for you is 𝘯𝘰𝘵 something you want. Because they don’t look at the full picture of your tax situation.
• No business expense reconstruction
• No careful review of deductions or credits
• No strategy around filing status
• No effort to lower your balance

So, when the IRS files for you, your balance will likely be bigger than it needs to be.

We can intercept this process by filing your accurate returns before the IRS assesses an inflated balance you don't actually owe. ... See MoreSee Less

First State CPAs and Associates

2 days ago

“𝘾𝙖𝙣 𝙄 𝙪𝙨𝙚 𝙛𝙧𝙚𝙚 𝙖𝙘𝙘𝙤𝙪𝙣𝙩𝙞𝙣𝙜 𝙨𝙤𝙛𝙩𝙬𝙖𝙧𝙚 𝙛𝙤𝙧 𝙢𝙮 𝙗𝙪𝙨𝙞𝙣𝙚𝙨𝙨?”

Yes, you can use free software like Wave or ProfitBooks, but they are best suited for solo freelancers with simple transactions.

As your business grows, free versions often lack the internal controls and audit logs required for complex tax filings or multi-state operations. Moving data to a paid system later can also be costly. ... See MoreSee Less