Surround yourself with assets!!

Your Resources

New Client Forms

Existing clients, please contact us for the 2020 Tax Questionnaires.

Frequently Asked Questions

To say we are the same firm as pre-COVID times would be a disservice. We have used this pandemic and the disruption it has caused, to look inward on how we can improve as a firm and as a team.

We feel that COVID has brought our team closer and allowed us to really focus on how we interact with and provide services to our clients. We have now rolled out new options for paper drop-offs, pickups, client communications, and secure file transfers. Check out the FAQs below for more information.

To our clients: We wouldn’t have been able to make this transformation without you! Thank you!

q

Covid-19 Related FAQs

Coming Soon!
Under revision for updates from the new Consolidated Appropriations Act – contact us directly if you need information on the new funding round for PPP loans.

Tax Related FAQs

I received a suspicious call from the IRS or Social Security Administration telling me I owe them money, or I am going to jail. Is this for real?
  • These types of calls are definitely scams! The IRS and SSA will NEVER call you without your initiation first. Do not give out any personal data and hang up immediately if you receive a call. Read more about these scams at the IRS Tax Scams Consumer Alerts page, and the Social Security Administration Fraud FAQs page. 
How long will it take for me to get my income tax refund?

The IRS has a handy tool called “Where’s My Refund” that can give you a real-time answer. All you’ll need is your social security number, your tax filing status and the exact amount of the refund you are expecting. Go to the IRS Refunds page. 

How can I find out how much Social Security income I received over the past year?

The SSA allows you to create an online account where you can find your statement, change your address and start or change your direct deposit information along with many other features. Learn more at the SSA Online Services page. 

 

How many tax deadlines are there?

A lot! Contrary to popular belief, there are many more tax deadlines than just April 15. While the April deadline is the most famous, every deadline is equally important to the IRS and multiple state agencies. If you really want all the details, give us a call and we’ll give you the exciting laundry list of deadlines. 

Does filing an extension mean that I don’t have to pay my taxes until October?

Nope! This is a common misconception. An extension gives you 6 extra months to file your tax return, only. If you owe tax, you must pay your tax due by the initial deadline of April 15. If payment is made after that date, the IRS will add penalties and interest to the amount owed. We can help with extension estimates; you just have to let us know you think you might owe tax!

I’ve just found out that I’m coming into an inheritance, what should I do with respect to taxes?

Our condolences. The amount and type of inheritance you receive could greatly affect your tax return for that year and future years. A CPA, along with a financial adviser, and possibly an attorney, can help guide you towards making smart tax and financial decisions for your situation, especially when you are the recipient of an unexpected windfall. 

w

BWCO Related FAQs

Do I really need a CPA?

We think you do!  95% of the people we talk to probably benefit from having a trusted CPA in their corner. 

Every tax return and person/family/business behind the return is unique, with situations and circumstances all their own. With tax laws changing every year, it can be difficult to know all the rules that apply to your situation. A CPA can help navigate and explain these changes and how they impact you, prepare and file accurate tax returns using professional tax software, and assist in planning future strategies to lessen the financial impact of the law changes where possible. 

 

Why do I have to fill out a tax questionnaire every year?

Whether minor or major, changes in your life and the IRS tax code are inevitable. We created our questionnaires to help us identify missing items early on in our process. By completing the questionnaire, you save us time and your money when potential changes are identified upfront in the process. 

What is the average time it takes to process a tax return?

Truth is that tax returns can be simple or complex. Also, we are human, and life happens. Our turn-around time is dependent on the complexity, completeness, and timely receipt of tax documents. We try to set reasonable turn-around expectations when you send documents to us; however, we also have families and require sleep, so we may get to a point where we ask you to consider filing an extension.

When can I have a tax document burning party?

Don’t get the pyrotechnics out just yet! Many requirements span 7 years, some longer, some shorter. To get the skinny before you light it up, give us a call so we can determine the actual party date. 

Ready to take the next step?
Let’s talk.