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Beard & Associates now have a way for you to file your own taxes on line. With our new program, you fill in the information and we then file your taxes for you (fee required).

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Tax Information Center

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Beard & Associates, LLC is pleased to provide our clients with the following information in the form of Frequently Asked Questions (FAQ). Please understand that the information is provided as is and can be changed at any time by the Internal Revenue Service (IRS) or State of Michigan Treasury Department.

Our Services FAQ

Q: How long does it take to prepare my tax return?
A: Our goal is to prepare a return and deliver it to our client within 2 weeks of receiving all the information needed to prepare the return, but the length of time it takes to prepare a tax return depends on a few factors.
  1. When do we receive the return
  2. How many returns we have already received
  3. Do we get all the information when it is dropped off or picked up
  4. Does the client respond quickly and accurately to any questions or request for more information
Q: What are your fees for preparing a tax return?
A: Each return is charged on up to 2 factors:
  1. What forms are used in preparing the return
  2. What research or other work is involved in preparing the return.
    • Example: If a return requires a lot of manual entry because the client walks in with a shoebox of receipts and we have to sort and categorize them, there will be the preparation charge as well as an accounting charge.

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Tax Returns FAQ

Q: How do I check the status of my Federal Refund?
A: The IRS website has a way of checking the status of your Federal refund, but there are a few requirements:
This process does not pertain to tax returns with EITC (Earned Income Tax Credit)
  1. It must be 24 hours after confirmation of an e-filed return (2-5 days after we receive payment in our office) or 4 weeks after a mailed in paper return.
  2. Have a copy of your Federal return to access the folloing information:
    • Taxpayer's (not spouse) social security number
    • Filing status
    • Refund amount
  3. Go to the IRS website at www.irs.gov/refunds and click on "wheres my refund" or click here (www.irs.gov/refunds)
  4. Enter the above information and you will get your status
Q: How do I check the status of my State of Michigan Refund?
A: the State of Michigan site has a way of checking the status of your state refund, but there are a few requirements:
  1. It must be 14 days after confrimation of an e-filed return (15-18 days after payment in our office) or 6 weeks after a mailed in paper return
  2. Have your copy of your Michigan return to access the following information:
    • Taxpayer's (not spouse) socail security number
    • Taxpayer's last name as it appears on the return. No spaces or punctuation marks
  3. Go to the State of Michigan Treasure website www.michigan.gov/treasury, click on "Where's My Income Tax Refund?" then click on "where's My Refund?" or click here (My Income Tax Logon)
  4. Enter the above information and you will get your status
Q: Do I have to pay on the exact day that I file my return?
A: No, you can send in the check with the voucher or have the funds withdrawn from your account up to the due date of the return without penalty or interest.
Q: If I have to file an extension, when do I have to pay any tax amount due?
A: Any amount must be paid with the "Application for Extension" (Federal Form 4868, State of Michigan Form 4). The extension is NOT an extension to pay, it is an extension of time to file.
Q: What are the filing statuses?
The possible filing status are:
  1. Single
  2. Married filing jointly
  3. Married filing separately
  4. Head of Household with qualifying person
  5. Qualifying Widdow(er) with dependant child

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Personal Estimated Tax Payments FAQ

Q: What are estimated payments?
A: The Internal Revenue Code (IRC) and State and Local Revenue Codes require that all tax due in any given year be deposited by the end of that tax year. Estimated payments are payments that are paid directly by the tax payer because the tax withholding from other sources is not enough to cover their taxes due that year.
Q: Why do I need to make estimated payments?
A: When the amount of tax withholding is less than the total amount of tax due on a given return, the taxpayer must make estimated payments.
Q: When are the estimated payments due?
A: For the current tax year, the payments are due April 15th, June 15th, September 15th and January 15th of the following year.
Q: How do I calculate the estimated payments?
A: The calculation of estimated payments is basicly doing a pseudo tax return. We will be happy to assist you in the calculation of these payments.

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Business Estimated Tax Payments FAQ

Q: What are estimated payments?
A: A: The Internal Revenue Code (IRC) and State and Local Revenue Codes require that all tax due in any given year be deposited by the end of that tax year. Estimated payments are payments that are paid directly by the tax payer because the tax withholding from other sources is not enough to cover their taxes due that year.
Q: Are these payroll taxes?
A: No. Payroll taxes are on a company's payroll or wages paid out. Business Estimated Tax Payments are applied towards any income taxes that the business owes to the IRS or State.
Q: Why does my business need to make estimated payments?
A: When the amount of tax withholding is less than the total amount of tax due on a given return, the taxpayer must make estimated payments.
Q: When are the estimated payments due?
A: For the current tax year, the payments are due April 15th, July 15th, October 15th and January 15th of the following year.
Q: How do I calculate the estimated payments?
A: The calculation of estimated payments is basicly doing a pseudo tax return. We will be happy to assist you in the calculation of these payments.

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Payroll Tax Payments FAQ

Q: When do I have to pay payroll taxes?
A: When there is reqired withholding because the company has one or more employess
Q: What are payroll taxes?
A: Taxes required by Federal, State, and Local govenments to be withheld from the employee or paid by the employer. These include:
  1. Federal Income Tax Withholding (Employee)
  2. Federal Social Security Withholding (Employee and Employer)
  3. Federal Medicare Tax Withholding (Employee and Employer)
  4. State Income Tax withholding (Employee)
  5. Local Income Tax Withholding (Employee)
  6. Federal Unemployment Tax (FUTA)
  7. State Unemployment Tax (SUTA)
Q: When are payroll taxes due?
A: These are due on the 15th day after then end of each calendar quarter, the ends of the quarters are March, June, September and December

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