Tax, IRS and accounting services in Southlake, TX
12 services from one firm. Each page starts with a short answer, then what is included, what to bring and the questions people ask.
Tax returns and planning
Individual and business returns, and planning before the year ends.
- Tax preparationTax preparation means gathering your income and expense records, completing the right federal return, and filing it on time.
- Tax planningTax planning means looking at your income, expenses and plans during the year, not only at filing time.
- Individual tax and financial planningIndividual tax and financial planning looks at your personal tax picture through life changes.
IRS problems
Notices, back taxes, unfiled returns, payment plans and representation.
Business accounting
Books, payroll, QuickBooks, advice, new businesses and assurance work.
- Small business accountingSmall business accounting means keeping accurate records of money in and out, then turning them into reports you can use.
- Payroll servicesPayroll means paying employees correctly, withholding taxes from their wages, and sending those taxes to the IRS and the state on time.
- QuickBooks setup, training and cleanupQuickBooks is accounting software for tracking income, expenses and bank activity.
- Business advisoryBusiness advisory means using your financial records to make better decisions.
- New business formationNew business formation means choosing a legal structure, registering with the state, getting a federal tax ID and setting up books.
- Audits, reviews and compilationsCompilations, reviews and audits are three levels of service on financial statements.
- Forensic accountingForensic accounting means examining financial records to find out what happened to money.
- Non-profit organizationsNon-profit accounting means tracking donations and spending by purpose, and meeting IRS filing rules for exempt organizations.
Start here
What brings you in?
Pick the folder that fits. You see what it usually means, what to gather before you call, and which service or guide helps.
I got a letter from the IRS
Watch the date. Most IRS notices give a date to respond by. Call before that date, and keep the notice.
What it usually means
- The IRS changed or questioned something on a return
- The IRS is billing you for a balance
- The IRS needs more information from you
What to gather first
- The notice number, in the top right corner of the letter
- The date by which the notice asks you to respond
- The tax return the notice talks about
I am behind on filing returns
What it usually means
- One or more returns were never filed
- An extension passed without a filed return
- Records were lost or are incomplete
What to gather first
- The tax years that are missing
- Income forms for those years, or a list of where you earned income
- Any IRS letters that mention those years
I am starting a business
What it usually means
- You are choosing a legal and tax structure
- You need a federal tax ID and state registrations
- You want your books ready before the first sale
What to gather first
- The business name and what it will sell or do
- The owners and how they will share profit
- A list of employees or contractors you plan to hire
My books are a mess
What it usually means
- Entries were not recorded for some months
- Bank accounts were not reconciled
- Personal and business spending are mixed
What to gather first
- Bank and credit card statements for the period
- Your accounting file or spreadsheet, if one exists
- Loan papers, invoices and receipts you still have
I have a payroll problem
What it usually means
- Tax deposits were late or missed
- A payroll return was not filed
- Paychecks and withholding do not match your records
What to gather first
- Your payroll reports and deposit records
- Any IRS or state payroll notices
- The dates and amounts of recent payments
My property value notice went up
What it usually means
- The appraisal district raised its estimate of your property value
- Exemptions or changes to the property were not reflected
- Market sales nearby changed the district's estimate
What to gather first
- The notice of appraised value and the protest deadline on it
- Your prior year notice and tax bill
- Photos, repair estimates or sales near you, if you have them
I need this year's return done
What it usually means
- It is time to file your individual or business return
- You have new income, a new business or a life change
- You want a CPA to review before you file
What to gather first
- Income forms such as W-2, 1099 and K-1
- Records of business income and expenses
- Last year's return and any IRS letters
I am selling or planning succession
What it usually means
- You plan to sell the business or pass it to someone
- You need to know what the business may be worth
- A buyer or lender asks for financial records
What to gather first
- Three years of financial statements and tax returns
- Ownership papers and any buy-sell agreement
- Your goals and timeline for stepping back
Talk to Wallace CPA
Call the Southlake office and say what you need: a return, an IRS letter, your books or a new business. Have the notice or last year's return nearby if you have one.