FAQ: Fees, Filing and Multi-State Tax

Every engagement has a flat fee, monthly for ongoing work or per project, agreed in a written engagement letter before we start. Quick questions by email aren’t billed.

No. You can work with us entirely online through a secure portal and video calls. You’re welcome at our Morris Plains office whenever you prefer to meet in person.

Through an encrypted TaxDome client portal. We don’t ask clients to email tax documents.

Yes. We request prior returns and records, review them and pick up from the next open period. Any cleanup is quoted separately before it starts.

Yes. We prepare federal returns for clients anywhere in the United States and state returns in every state, and we work with Americans living abroad.

W-2s and 1099s, mortgage and property tax statements, records of charitable gifts, and anything new this year such as a home sale, equity compensation or a move. The free readiness check builds a checklist for your situation.

Usually as part-year residents in both states, with income allocated to the period you lived in each. Wages earned in the old state after the move, and any rental or business income, need care.

The value of shares that vest is wages, but employers often withhold too little. A mid-year projection sets estimated payments so the difference doesn’t arrive in April. See RSUs, ESPPs and stock options.

Yes. Tax work, bookkeeping and CFO advisory do not require independence, so one firm can provide all three. What a CFO client cannot get from the same firm is an audit or review report on its own financial statements: if a bank or investor requires one, an independent CPA firm issues it, and we prepare the statements and support the process. Your management keeps every decision and approval, as professional standards require.

Yes, as one engagement with one firm. See small business bookkeeping, payroll and tax.

It often makes sense once net profit reaches roughly $40,000 to $80,000, because it can reduce self-employment tax. It also adds payroll and a separate return, so we model your numbers before recommending it.

An elective tax paid by an S-Corp or partnership on New Jersey income. Because the entity pays it, it’s deductible federally without the individual SALT cap, and owners receive a matching New Jersey credit. For calendar-year entities the election is due by March 15 of the following year, the original due date of the return; an extension doesn’t extend it.

Usually both. New York taxes your wages under its convenience-of-the-employer rule unless your employer requires you to work from New Jersey, and New Jersey gives you a credit for that tax. See NJ and NY tax for commuters.

Register for payroll withholding in the new state, update the employee’s withholding, and check whether their work creates income tax nexus for the company there. See multi-state tax and nexus.

Usually manageable if you act before a state contacts you. Voluntary disclosure programs typically limit the lookback to three or four years and waive most penalties.

S-Corporation and partnership returns are due March 15, individual and C-Corporation returns April 15, and nonprofit returns May 15 for calendar-year organizations. Extensions add six months to file, not to pay.

April 15, June 15, September 15 and January 15. Dates that fall on a weekend or holiday move to the next business day.