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IBO CPA QuickBooks, Payroll, Tax for Independent Business Owners
When what counts,
can't be counted
New Website Under Construction
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When what counts,
can't be counted
We are an accounting, payroll and tax service for business owners desiring payroll, quickbooks online, business structuring, filing their personal and business tax returns, or seeking business consulting. Our specialty is managing your payroll and pay structure and maximizing beneficial net tax effect strategies.
Russ, a Navy submarine veteran, has worked in finance and accounting for over 20 years. He is a Licensed Minister and does extensive work in church finance and operations. His specialties include strategic tax planning for business owners and irrevocable legacy trust management. He enjoys DIY projects, the outdoors, and spending time with his wife and two children boating on Lake Michigan.
Renee is a seasoned Payroll Specialist with over 10 years payroll experience, and is a Certified QuickBooks ProAdvisor. She is an expert in BookKeeping, Payroll operations and simplifying and streamlining the payroll process for your company.
She enjoys spending time with family and playing with her daughter.
Mike, a Marine and Iraqi war veteran, has been working in accounting for 3 years. Prior to accounting he maintained a leadership role in quality assurance for 3 years. He has experience in cost segregation studies as well as procedural analysis and interpretation. He enjoys a relaxing cup of coffee with his wife and spending time playing games with her and his 3 kids.
Carol has over 15 years of tax preparation experience. Although semi-retired, as an Independent Business Owner, herself, she fully understands business record keeping, tax planning and preparation. She enjoys spending time at the lake with friends and their two children and five grandchildren.
You can use this site to upload documents for
tax preparation and safe keeping.
How much does a tax professinal charge?
Fee - $900
An additional $150/hr bill rate may be incurred for book keeping reconciliation, and complications encountered due to improper or unorganized record keeping or situations outside our control.
Fee - $50
If your tax filing is very simple and qualifies for the IRS Form 1040 EZ form, we can offer a reduced rate.
Fee - $250
The IRS Form 1040 is the standard form for an individual tax return with no additional schedules.
Fee - $100
The Schedule A is the IRS Form used for declaring itemized deductions if greater than the standard deduction ($12,950 for single in 2022 and $13,850 for single in 2023 - it doubles for married couples.) The most common examples of itemized deductions are state and local income taxes, property taxes, mortgage interest and charitable contributions. It is my standard practice to calculate the itemized deduction and use the best result, if you do not want me to even calculate it, let me know and it will save you $90.
Fee - $40 minimum
The Schedule B is the IRS Form used for reporting interest income and dividends. Banks and investment firms generally send account holders form 1099 - INT or form 1099 - DIV. All forms of income are required to be reported. Failing to report this 1099 income is likely to trigger an IRS correspondence audit, and potentially an in office audit.
Fee - $200
The Schedule C is the IRS Form used for reporting Business income or loss. Business income is generally reported on a form 1099 - NEC or MISC from any contracting party doing more than $600 of business, or is maintained by the sole proprietors book keeper. A loss is reported if a businesses expenses and deductions exceed the business's income. Supporting proof of expenses and deductions must be recorded and saved as evidence for potential future audits. Sole Proprietor businesses should be profitable within the first 4 years of business or it may be reclassified as a hobby. Hobbies that generate income must report all income, but are not allowed to deduct expenses. This could result in a hefty tax bill after an audit, if not handled properly.
Fee - $100 minimum
The Schedule D is the IRS Form used to report Capital gains form the sale of investments. Information on the sale of investments includes, the purchase date and price and the sale date and price of an investment, and is recorded as either a long term or short term gain or loss. Gains are included in income and losses, up to $3000, are subtracted from income.
Fee - $140 minimum
The Schedule E is the IRS Form used to report supplemental income and loss from rental property, royalties, partnerships, S corporations, etc.
Fee - $200 minimum
The Schedule F is the IRS form used to report profit and loss from Farming activities. Income and expenses for farming should be recorded in the same manner as a small business would keep track of all business activity.
Fee - $40 minimum
The Schedule SE is the IRS form used to report Self Emplyment Income and is necessary for most earned income that is not reported on Form W-2.
Michigan - no additional charge multiple States will incur a $75 processing fee.
State tax filing forms are derived from the IRS forms. Since the State filing is also required, it will be assumed that all state filings will be completed unless omission is requested. State filing will not be provided ad hoc with out a Federal Filing.
Fee - $35
*States such as Indiana and Ohio that have additional county income tax, will not be provided by IBO CPA
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