Tax Preparation & Planning

While many returns are straightforward, certain situations require extra attention. Common examples include: 

• Self-employment or freelance income
• Rental property income
• Farm income
• Buying or selling a business
• Income reported on a Schedule K-1 
• Depreciating or selling assets
• Claiming itemized deductions
• Reporting foreign accounts or income
• Oil & gas royalty income
• Retirement withdrawals or required minimum distributions (RMDs)
• Divorce-related tax changes
• Filing in more than one state
• Disorganized books

All our returns come with our Audit Guarantee. If the IRS or State taxing authority sends a correction notice due to our error, we will represent you at no additional cost. 

We charge our standard hourly rate to provide tax planning and consulting outside of our scheduled client meetings.

Additional consulting rates would include, but are not limited to: 

• Buying/selling a business.
• Consulting on capital loss harvesting. 
• Form 1031 & 3115 filings.
• Formation of a business.
• Estate & trust planning.
• Quarterly Estimated Payments*.

*Note: Our hourly rate will apply to quarterly estimated payments for clients whose prior year tax return was not prepared by our firm. 

We charge $350 per hour to provide tax planning and consulting to prospective clients.

Note: We classify prospective clients as those who have not formally engaged our services through a signed engagement letter or commitment to have us prepare their next tax return(s). 

Amending Returns Prepared by Foothills Accountants

No additional charge for amending returns due to our error. 

We charge our standard hourly rate to prepare amended returns for which the error or change is not due to Foothills Accountants.

Amending Returns Prepared Elsewhere

We charge our standard hourly rate to prepare amended returns for which we did not prepare the original return.

Note: All amended returns prepared by us have our Audit Guarantee.

Responding for Returns Prepared by Foothills Accountants

No additional charge for responding to tax authorities for returns prepared by Foothills Accountants.

Responding for Returns Prepared Elsewhere

We charge our standard hourly rate for returns that we did not prepare in order to correspond with the tax authorities on your behalf (Federal, State, Local). 

Note: we may ask for a Power of Attorney (POA - Form 2848) in order to discuss your matters with the tax authority.