Tax season can seem daunting, but there's no need to be concerned. At DiMercurio Advisors, we are dedicated to simplifying complex financial information and making it easily accessible.
In this guide you'll learn:
Let's get started! Tax season this year will be easy and smooth because we'll be doing most of our work together in Karbon, our new secure checklist and project management tool. You can learn more about it in our Karbon Help & FAQ guide.
Here's how it'll work:
You're all set with Kickoff!
Because we're using Karbon to make the document collection process smoother than ever, we ask that you only send us digital documents directly in Karbon. Please do not send us documents directly in email as it will delay us in preparing your return(s).
After you've completed your business and/or individual tax return questionnaire, we'll review them and then send you a customized checklist in Karbon of what we'll need to get started.
As a reminder, our team will not be notified to get started on each of your returns until you check off all the requests in your list. Make sure all requests are checked off. If something is not applicable or you have a question, you can leave it directly in the checklist.
Check out our information checklists for businesses and individuals to get an idea of the info we'll be requesting.
If you’re wondering if you should tell us about something, tell us. We serve your needs best when we have all the necessary information. While we do the best we can, we aren't mind readers.
When you complete your tax questionnaire and send us the relevant documents, it's time for your check in. This is where we go over any questions we have on the information provided, review your questionnaire, and provide an estimate of when your return will be prepared.
Once we've received 100% of the documents we need, your assigned tax team member will pick up the phone and give you a call (it should only take 5-15 minutes, but we can call back if we catch you at an inconvenient time).
The check-in call is specifically designed to ask and answer questions related to the tax returns we are currently preparing. If you'd like to schedule a more in depth consultation to discuss items related to business strategy, tax strategy, bookkeeping, or long term tax planning, please let us know and we'd be happy to schedule a separate consultation time for those services.
Okay, we’ve gotten to know each other a bit, you’ve sent us all the information we need, you’ve answered our questions and we’ve answered yours. Congrats, the hard part is over!
Now you get to sit back and relax, while our tax team handles your return. Throughout the tax preparation process, each tax return goes through multiple stages of preparation and review to ensure they are filed correctly based on the information provided.
If questions arise on our end while your return is being prepared, our team will reach out to you via email, so keep an eye on your inbox. And if you have any questions of your own during this time, send an email to tax@DiMercurioAdvisors.com and a team member will respond to you shortly.
We’re almost there! At this point, your tax returns are prepped and ready to go.
You'll receive a draft of your return in Sharefile to review. After you've confirmed (by checking the box) if you have questions or not on the return, you'll receive the final version via DocuSign for your signature. You'll also be provided with your return summary, adjusting journal entries (if applicable) and details on any refunds or payments. If you have any returns that require paper filings, we'll let you know and mail them out to you for your signature and for you to mail directly to the appropriate tax authority.
The statement of work is an official letter of engagement. Its purpose is to reconfirm services, estimate costs, and make sure all distinct business entities that need returns prepared have been taken into account. This gets everyone on the same page about the scope of the project.
We handle those too! One state return is included with the your tax filing, but our team will be happy to take care of any additional state tax returns that need preparation. See our tax pricing page for more information on price factors.
If your business is required to make quarterly estimated tax payments, reach out to our team and we’ll help you figure out how much you owe at what times.
Don't panic! Send in what you have and notify our tax team as soon as possible. We'll help you figure out where to find the information we need.
No, but we also offer that service. Tax preparation is about handling the results of your previous year's activity, while tax planning is about how to get the best results in the future. Let our tax team know if you'd like to schedule a tax planning advisory meeting at our hourly rates.
Plugging in the documents you provide is generally a pretty straightforward process, but we like to give everyone -- both you and our team -- the opportunity to ask clarifying questions and preemptively solve problems.
We'll be working with you primarily within Karbon - so go there first. Doing this ensures that everything is in one place and we're all on the same page. Plus it provides us all with written documentation on our conversation! Otherwise, we'll communicate via email. Either directly from the team member working on your return or from tax@DiMercurioAdvisors.com.
Additional back-and-forth communication may occur throughout the process if needed, so keep an eye on your inbox!
Preparation time varies, mostly based on complexity. The standard timeline is 3-6 weeks after all documents are received.
Extensions will be filed as needed, based on current team capacity and client response time.
E-filing means filing tax returns online rather than via paper mail. It's faster, it's easier, and we prefer submitting tax returns this way whenever possible. For more info, view our article on e-filing vs paper filing.
Well, it will take hardly any time for you to drop your prepped paper tax return in the mail. However, it could be anywhere from a few weeks to six months before the IRS gets to it.
Stay on top of your documents, keep clean financial books, and meet with one of our tax advisors early in the year, and you should be in good shape when tax season comes around.
We can make quarterly estimated tax calculations and perform bookkeeping throughout the year to alleviate many of the unknown variables during tax season. Let a member of our team know if you'd like to learn more!
After your completed tax return is sent to you via DocuSign, you will receive an invoice. You can pay that invoice on our website.
Because every tax return is different, pricing may vary from one to another. With that said, we've made tax pricing as simple as possible.
As the tax returns become more complex, the price may increase. For details on tax return pricing factors, view our tax pricing page.
