Abacus Financial Services

While it’s true that taxes are one of the few certainties in life there is no certainty about how much or how little tax an individual or business will face in a given year...

*Virtually every financial decision has tax implications 
*Tax law is as fickle as the politicians who create it 

Because tax laws are considered complex, many taxpayers have moved beyond self preparation and seek professional assistance. On average, almost 85 million individual taxpayers pay a credentialed professional to complete and submit their tax returns each year according to the Internal Revenue Service. Obviously this is before business returns are considered. When applying sound advice and strategy, tax uncertainty often becomes an opportunity. Abacus provides tax preparation, planning and resolution as needed.

About Our "On Call" Tax Service..

We offer year round remote tax assistance to individuals and business who have registered for our service. Individual tax preparation is provided by Enrolled Agents federally licensed with the Internal Revenue Service. Business tax preparation is provided by Certified Public Accountants. Every situation is reviewed with the taxpayer prior to submission. Clients may interact with the tax team at any time during the year. Records are securely maintained.

More Than Just Preparation...

Our price includes a complimentary tax planning review identifying issues that may impact future tax filings or minimize liabilities. Personal reviews are routinely updated at the end of each tax season, while business tax planning is reviewed annually, usually in the last quarter of their fiscal year.

Our A-La-Carte Tax Pricing....

Abacus offers a competitive pricing model for a professionally prepared return. Receive individual tax preparation via IRS Enrolled Agents for $99.00 per person ($198.00 for a joint filing) which includes your Federal, Resident State and Local when utilizing the Standard Deduction.

Adjustments to our "Standard " pricing model occur when any of the below considerations are applicable....

*Additional Non-Resident state filings incur a $40.00 fee per state
*Credit or deduction requests not included within the "Standard Deduction" affects price
*Choosing full "Itemization of Deductions" instead of the "Standard Deduction" will affect price
*Individuals with K-1 income will incur a $40 fee for each K-1 included
*Trading activity (Stock or Crypto) averaging more than four transactions per month affects price
*Individuals requiring Foreign Asset reporting will incur a $100.00 filing fee, includes both FinCEN 114 and IRS Form 8938
*Standard Estate Filings Form 1041 are $498.00 or Comprehensive Estate Filings (Greater than the Exemption Amount) Form 706 $999.00

When quoting, we identify, disclose and discuss issues during our review before preparation begins. Consults with your assigned Enrolled Agent are available by appointment Monday through Friday evenings from 5pm to 8pm without charge.

Need ITIN Assistance....

IRS Taxpayer Assistance Centers (TACs) can review original documents or certified copies from the issuing agencies required to apply or renew a Individual Taxpayer Identification Number (ITIN). Primary and secondary applicants and their dependents may have their documents reviewed and verified. Your documents will be returned to you at the end of your appointment.

Professional foreign language interpretation is available in every office in many languages through an over-the-phone translation service. Deaf or hard of hearing individuals needing sign language interpreter services, can call TTY/TDD 800-829-4059 to make an appointment.

IRS Taxpayer Assistance Centers operate by appointment only. To schedule an ITIN appointment, call 844-545-5640... no TAC office close to you. Then give us a call for further assistance.

Are you a current Abacus bookkeeping client…? If so, your tax preparation costs have been anticipated, prorated and included in your monthly bookkeeping fee, see “Accounting Services” page for more details….

If not affiliated, we offer the following price structure which includes your Federal, Registered State and Local return….  Sole Proprietors and Single-Member LLC's using Schedule "C" Form 1040 start at $299.00, "S" Corp. filers Form 1120s start at $499.00, Partnership filers Form 1065, Tax Exempt filers Form 990, or "C" Corporation filers Form 1120 all start at $799.00 plus the following add-ons when applicable.....

*Additional states will incur a $99.00 fee for each state
*Supplemental tax filings for payroll, sales tax etc. in addition to your base return will also affect price
*Businesses requiring FinCEN form 114 along with IRS form 8938 reporting will incur a $100.00 fee per filing
*Trading activity (Stock or Crypto) averaging more than four transactions per month affects price
*Real time tax planning is based on complexity of situation

When quoting, we identify, disclose and discuss potential issues during our review before preparation begins. Consults with your assigned CPA or Bookkeeper are available by appointment Monday through Friday evenings from 5pm to 8pm without charge.

Our Tax Planning Service?

Business owners understand the impact of tax issues. However, individuals should make tax planning a part of their personal tax process as well. Tax preparation gets the filing done while tax planning enhances tax efficiencies which create a better tomorrow. Every Abacus client receives a free annual tax planning assessment, recapping their current return and recommending changes we feel may benefit them going forward.

Life happens as they say and when it does we have the ability to perform a full "Scenario Analysis" by taking a deeper dive into tax implications involving the issues shown below...

* Overcoming previous Balance Due filings
* New Pension or IRA distributions
* Significant Changes in Income or Deductions
* Job Changes
* Marriage, Divorce or Separation
* Attaining Age 59 1/2 or 72 (RMDs)
* Sale or Purchase of a Business
* Sale or Purchase of Any Real Estate
* Retirement
* Self-Employment
* Living Trust Assistance for the Grantor & Successor Trustee
* Estate and Final Tax Return Preparation for Executors

Our Tax Resolution Service?

Many people only think about the IRS during the tax season. There are times though when the IRS makes its presence known during other periods of the year. If the agency believes an individual or business hasn’t reported enough income, has underpaid or didn’t file a return when they should have, it can take action. When that happens, a person or company might need help resolving the inquiry or issue. Tax resolution involves working with the IRS to find a solution.

Considerable marketing dollars are spent everyday attempting to instill fear of the Internal Revenue Service. While its true they can be the most aggressive collection agency in the world, those measures are generally reserved for taxpayers trying to hide, not a good idea....

So, when it comes to working with the IRS we have found honesty to be the best policy. It can be time consuming and complex making it wise to enlist the assistance of a professional, however, experience has taught us the Internal Revenue Service can actually be quite flexible when assisting taxpayers.

Common situations include but are not limited to past due filings, installment agreements, abatements, requests for innocent spouse relief or offers in compromise to name a few. The first step is the assessment to fully understand the larger picture and provided free of charge. Once the assessment is complete, a plan and retainer will be determined. Approval of the plan and payment of the retainer are necessary before moving forward.

That initial discussion will also disclose how remaining payments (if any) are scheduled. Generally, future payments will be due as each task is completed, making them manageable for the taxpayer. Fees charged our hourly, our fee is $99 per hour. Typical resolution cases average 3-7 hours of interactive time with the Internal Revenue Service but could be more depending on the complexity of your situation.

Each resolution case is assigned to an Abacus internal account manager. However, the CPA, Enrolled Agent or Tax Attorney involved will be aware of all discussions and available upon request, without charge....

We proactively manage your tax issues including how upcoming events may impact your tax status and vice versa. Not all tax related issues are readily apparent. We understand the latest federal, state and local tax legislation and how new developments may affect you going forward...