What is an Enrolled Agent?

Enrolled agents (EAs) are tax specialists licensed by the U.S. Department of the Treasury to represent taxpayers before the Internal Revenue Service (IRS) in the event of an audit or collections. EAs are required to stay up-to-date on the latest changes in the U.S. Tax Code. The strenuous requirements to become an EA ensure that only the top tax professionals earn the designation. EAs have stringent ethical and educational requirements to retain their designation.

If you need the service of an Enrolled Agent, please contact us, and we will show you how we can help.

If I am using QuickBooks, why do I need your services?

QuickBooks and other software packages are only tools for entering information. Our accountants and bookkeepers can help you interpret this information through financial reports and projections, monthly balance sheets and detailed general ledger, and consultation and tax advice throughout the year to ensure that measures are implemented to allow you to take advantage of changing tax laws, minimize your taxes, and become more profitable.

How else can you help me other than monthly accounting and tax preparation?

  • Thinking of buying a business? We can help by preparing cash flow projections, debt service analysis, and reviewing the financial records of the business.
  • Financial analysis – compare your business to others in your industry. Identify key indicators and financial ratios.
  • Recommend and implement accounting systems best suited to your business type and industry.
  • IRS and State tax audit representation.
  • Offers in Compromise – an Enrolled Agent (EA) or CPA can assist by providing counseling and negotiation.

Will you continue to support QuickBooks?

While maintaining the same high quality service to our clients who use QuickBooks, we will be implementing and supporting what we believe is the best possible choice in accounting and tax software for the coming age: NetClient. We will assist clients who choose to make the transition to a more powerful and flexible system and we would be happy to discuss what the benefits may be for you or your business to make the move to NetClient.

What is NetClient and what can it do for my business?

NetClient is a secure online accounting and tax package that can assist in minimizing the time you spend on accounting activities, including time providing us with information, filling out forms, and obtaining copies of forms, returns, and reports that our tax professionals prepare for you. You simply login to your personal portal, complete forms and communicate information to us online, scan documents and upload them, view your personal accounting and tax files, and print what you need as you need it.

Does Accounting & Tax Solutions, Inc. assist in the setup of NetClient and can you provide support and training that we need to ensure a smooth transition to NetClient?

Yes, we provide you with our accounting software and one of our experts will tailor the set-up of your online portal and your client space to suit your specific needs.

In the event of an audit, what do I do?

First and foremost: call us at 303-232-8300. As your tax adviser, we will meet with you to plan the appropriate plan of action and gather necessary information to expedite the audit process. An Enrolled Agent (EA) or Certified Public Accountant (CPA) can counsel you to prepare for the audit yourself or act as your representative. Contact us now for more information!

What things do I need to do to ensure that you better serve me or my company?

Keep us informed. Let us know when you are encountering any major financial changes or decisions. Provide us with timely information so that we are working with current data.

For assistance, please refer to our Income Tax Data Organizer and Tax Organizer – Checklist, a worksheet to assist you in preparing for your tax appointment, available on the Tax Forms page.

Can you take over where our in-house accountant left off?

Yes, we can assist in a timely manner. We perform an assessment of your needs and the most cost-effective way to handle your accounting needs in order to have timely and accurate financial statements.

What is earned income credit?

The United States federal earned income tax credit or earned income credit (EITC or EIC) is a refundable tax credit for low to moderate income working individuals and couples. Click here to learn more.

Affordable Care Act (ACA) tax provisions?

The health care law addresses health insurance coverage and financial assistance options for individuals and families, including the premium tax credit. The health care law also contains many tax and other provisions for employers. Visit the IRS website for details.