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We work with several accounting software platforms with our clients. These include Quickbooks (desktop & online). Sage, Wave, Quicken, Zoho and various accounting software designed for specific industries (i.e. manufacturing, construction, etc)
If estimated payments are included in your review copy, you will automatically receive an email reminder seven days before your payment is due.
Generally if you expect to owe tax of $1,000 or more when you file your return you have to make estimated tax payments. These payments must equal 100% of the prior year taxes or 90% of the current year tax that is owed.
https://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Estimated-Taxes
As no two returns are the same, HHL Group uses an hourly billing rate which varies based upon the individual working on the return. A more complex return will require more time and thus cost more. Please call the office to set up an appointment and discuss your personal tax situation.
The failure to file penalty was recently increased for returns filed after calendar year 2015. The penalty is equal to 5% of the additional taxes owed for every month the return late, up to a maximum of 25%. The minimum failure to file penalty is the lesser of $135 or 100% of tax owed.
Yes we can. There are different filing requirements. Best recommendation is to setup a meeting with HHL ASAP.
We currently have 2 full-time CPAs on staff and 2 staff accountants.
Planning, budgeting, analyzing, being your outside CFO so you can focus on the business of your business.
Yes, please contact the office and we would be happy to help you.
Double taxation is a principle which refers to the fact that income taxes are paid twice on income earned by corporations. The first time income tax is paid by the corporation and the second time when income is given to shareholders as dividend payments.
A “pass through” entity such as an LLC or partnership is a business whose income passes through to the individuals who own it. The individual’s taxable income is then derived in part from the business.
Various expenses are allowed to be deducted for a taxpayer which uses a home office. These expenses can include electrical and cable utilities. However, certain exclusions apply. Please contact the office to set up a consultation.
Yes, we work with a multitude of non-profit organizations and are proud to offer a courtesy discount for these organizations.
A form W-9 is a taxpayer identification number and certification request. Employers will ask for this to ensure that tax identification is correct when sending forms (such as 1099s) to the IRS.
Yes. Email notifications will be sent from HHL Group Inc at [email protected]. To prevent the email from getting filtered to spam/junk, we recommend adding this email address to your safe list.
Yes. SafeSend Returns offers a secure system to view and sign your e-file authorization form(s). Look for https:// at the beginning of the site URL and a locked padlock symbol in your browser’s URL bar to confirm you are on the secure site.
Check your spam/junk email folder. If you do not receive your code within the 20-minute time limit, please request another. You might also search your email for [email protected]. Some emails hide junk items very well. If you still cannot find your code please call the office at (330) 721-1410.
This process can be completed on any computer, smart phone or tablet via a web browser. There is currently no SafeSend Returns app available. We do recommend you use a modern browser such as Google Chrome when using SafeSend Returns as Internet Explorer and Safari do not support SafeSend returns.
Yes. If you’re using a smartphone or tablet, you may not be able to download and print your return, but you’ll be able to review and e-sign it. You can always download and print your return from a computer at a later date.
SafeSend Returns allows you to electronically sign your e-file authorization form(s), but it won’t submit your return to the IRS. Once signed, HHL Group Inc is automatically notified, and we will then complete the filing process for you, including submission to the IRS.
The spouse with the primary email address will first receive the link with identity verification questions specific to him/her. He or she will sign the e-file authorization form(s) and then enter an email address for the second spouse. The second spouse will then receive the email link with identity verification questions specific to him/her. Once the second spouse electronically signs the e-file authorization form(s), HHL Group Inc will be notified that signing is complete.
Yes – You can still print, sign and mail your e-file form(s) back to HHL Group Inc if you’d prefer to do so.
Yes! Once you sign your e-file authorization form(s), you will receive an email stating it was successful. The email will also include a link to download a copy of your tax return for your records.
If your return is electronically filed to the IRS, the only items you may need to print and mail out to government authorities are the tax and estimate payment vouchers. You will also be provided options to make tax payments electronically if you prefer not to mail payments. In some circumstances you may have additional documents such as change of address forms and local city tax returns which will need to be signed and mailed. We will indicate in SafeSend Returns how to handle these forms if applicable.
Yes! All source documents will be returned to you. We will contact you upon the completion of your returns to pick up all source documentation.
Contact John Orecchio by email at [email protected] or by telephone (330) 721-1410.
HHL Group is a full service accounting, tax, and consulting firm. If you have specific questions about services we offer please call the office.
The cost of our services depends on a multitude of factors including: staff, time requirements, and complexity.
The office hours are Monday – Friday 8:30am to 5:00pm.
You will meet with the owner of the business to discuss your personal situation. The initial meeting is utilized to understand your requirements/desires and how we can best serve your needs.
A certified public accountant should be knowledgeable, informative, and timely in order to meet your business needs. HHL Group is proud to have a full time staff of dedicated consultants that work tirelessly to complete your work accurately and timely.
A certified public accountant is a licensed accounting professional who has met rigorous licensing requirements. Every CPA is required to have 120 hours of continuing education every 3 years to ensure they understand the complex nature of accounting rules and regulations. An accountant is not licensed or held to such standards.
Yes, HHL can file tax returns in all 50 states.
We can review your return and work with you to determine the best course of action.
If you fail to pay the balance due by the date of the return a penalty of 0.5% of the amount of unpaid tax will be applied for each month (or partial month) it isn’t paid up to a maximum of 25% of the amount owed.
Prior to April 15th to avoid late filing fees.
In order to process your return prior to the April 15th deadline we need all of the requested tax information by April 1st at the latest. If you are unable to meet the deadline we would be happy to file an extension on your behalf.
We ask that you are responsive to documentation requests and show up to scheduled meetings on time.
We are able to amend your return and correct any errors which you might have made previously.
By working with us we can help you better estimate your taxable income to avoid any “surprises” when filing your personal and/or business return. If you owe money to the IRS which you are unable to pay there are several options available including a payment plan. *Some conditions apply.
There are various income planning strategies which can be utilized to reduce your tax burden. Please contact the office to set up a meeting with one of our consultants.
An audit can be triggered by a multitude of factors. By working with a certified public accountant you can significantly reduce the chances of your tax return being audited and ensure that your financial statements are complete and accurate.
An independent contractor vs an employee is determined by several factors including
- Behavioral control of the employee
- Financial control of the employee (expense reimbursement and tools/supplies)
- Type of relationship with employee (non-compete agreement, vacation pay)
If you have made payments to an independent contractor who is not incorporated or an attorney in excess of $600 you must file form 1099. Additional parameters apply, please call the office to set up an appointment regarding any questions.
A form W-4 is provided to your employer so that the correct amount of federal income tax is withheld from your pay.
A form W-2 is a wage and tax statement which shows a summarized view of your total income and taxes for the year. A copy of this will be furnished to the IRS to ensure the correct amount of income is reported on your tax returns.
Yes, we are Quickbooks certified advisors and have many years of experience working with this software.
Depending on the type of business entity (LLC, S-Corp, Partnership) the due dates of the returns vary. Please contact the office if you have questions.
Yes, by working with a CPA you can start your business off on a solid financial ground which is pivotal to long-term success.
Every client has a unique situation and as such different business entities will favor different individuals. Please contact the office to set up an initial consultation.
Depending on your situation incorporating your business may be in your best interest. HHL Group is able to assist you with making the best decision financially and strategically.
From an accounting perspective it is best to keep a record of all income (by city and state) as well as expenses. Be sure to keep receipts for business expenses as ‘proof of purchase’ should you be audited.
A CPA can perform multiple services for business owners including business formation and bookkeeping. This will allow you the freedom to focus on growing your business and customer base.
We believe that the key to a successful business is having a strategic business plan. Contact the office to set up a meeting to discuss business planning
A financial statement provides a record of your business revenue, expenses, assets, liabilities and equity. Understanding these statements is important to the long-term success of your company.
An LLC or limited liability company is a business structure that combines the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation. This limited liability protects the members of the LLC for acts or debts that are performed or incurred by the company.
There are many things you can do to improve your cash flow. Opening up a low-interest line of credit can be one way to improve cash flow. But always be careful not to over extend yourself or your business.
Self-employed individuals are allowed many deductions including telephone, gas, and office supplies. We can work with you to determine allowable expenses for your business.
There are a multitude of questions and considerations to take into account with business succession planning. Schedule a meeting with our office today.
