FREQUENTLY ASKED QUESTIONS
HOW DO YOU GET YOUR AGI FROM LAST YEAR?
To retrieve your AGI from your last year's tax return (or from the original return if you filed an amended return) you may do one of the following:
Use the "Get Trascript" option on the IRS website https://www.irs.gov/individuals/get-transcript
Contact the IRS toll free at 1-800-829-1040.
Complete Form 4506-T (Transcript of Electronic Filing at no cost.)
Complete Form 4506 (Copy of Income tax Return.)
WHAT ARE YOUR TAX PREPARATION FEES?
There will be a form fee and a service fee. Services charges will vary. Charges will be based on each clients individual needs.
Average service fee to professional to prepare and submit a Form 1040 and state return with no itemized deductions is $150.
Average service fee for an itemized Form 1040 with Schedule A and a state tax return is $250.
Average service fee for an itemized Form 1040 with Schedule C and a state tax return is $350.
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Average form fee will range from $30-$100 based on your indivudual needs
HOW DO I KNOW WHAT ACCOUNTANT IS BEST FOR ME?
Any professional you choose should not only have the technical knowledge required but should also treat you with respect. Does your accountant and advisor take time to listen to you? Does your accountant and advisor return your calls in a timely manner? Do you feel comfortable asking your accountant and advisor a question? When you need a professional in the region who will make you their top priority, Call Gallaghan LLC Today!
HOW LONG SHOULD I KEEP MY TAX RECORDS FOR?
Keep records for 3 years from the date you filed your original return or 2 years from the date you paid the tax, whichever is later, if you file a claim for credit or refund after you file your return. Keep records for 7 years if you file a claim for a loss from worthless securities or bad debt deduction.
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As your tax preparer, Gallaghan LLC will also keep a copy of your return for the appropriate time frame.