Common Questions

Common Questions and Answers:

Common Questions and Answers:

General Tax Return Questions:

What do I need to bring in for taxes?

  • Please see our link for a checklist for both personal and business.

I only have SS. Do I need to file?

  • Most likely not, but please check with us to verify.

IRS Letters:

I received an IRS letter, now what? 

  • As soon as you receive the IRS letter, either scan it and email it to Bryant & Greer or bring it in and we will scan it. Once the letter is reviewed, we will contact you with the appropriate action. If the issue is something Bryant & Greer can help with, we will write a letter on your behalf and fax/mail our response to the IRS. 

How long does it take to hear back?

  • There is no timeline or queue status when waiting for a response from the IRS. Depending on how backed up they are, it could take a few weeks to a few months to even years.

Will they contact B&G or me? 

  • The IRS will contact you again, via mail. They will not contact Bryant & Greer unless we have a valid signed power of attorney on file. 

Extensions:

What is the process?

  • If you are unable to get us your paperwork before March 31st, we ask that you contact Bryant & Greer to have an extension filed.

When are they due?

  • Extensions are due in mid Oct.

How do I know if I need to pay towards my liability by April 15th (tax day)?

  • To avoid penalties and interest, send in the amount of tax you believe will be due when the return is filed.

Selling/Purchasing of House

What do I need to bring in?-

  • You will need to bring in the HUD statement and information about the house you are selling.
  • We will also need to know the amount you purchased it for, the year you purchased and any expenses spent on the house since you owned it.

Sole Proprietorship vs LLC:

Does an LLC save me any tax?

  • No, it does not. It most likely will cost you more due to state fee’s and state taxes. Limited Liability Companies are only needed for liability protection, not tax savings.