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Frequently asked questions

1

What type of individual clients do you accept for tax return preparation services?

We work with individual clients who meet at least one of the following criteria:

 

  1. You own rental property.

  2. You own a sole proprietorship business and file a Schedule C on your tax return.

  3. You have investment accounts that you need help with on your tax returns.

  4. You have transacted on employee stock options.

  5. You have multiple sources of revenue to report on your tax returns.

  6. You have sold property during the year and need help reporting it on your tax returns.

  7. Our firm currently prepares your business tax returns, and you want help with your personal taxes.

  8. You have a tax issue that you believe is complex, and you need help.

2

Have You Ever Declined Taking On a New Client?

Yes, we have declined clients for justifiable reasons.  Specifically, we do not take on clients who are looking to evade taxes by claiming deductions and credits to which they are not entitled, or clients who are seeking to hide income or assets in violation of law.  We also do not take on clients who are market speculators or day traders as their investment strategy approach is contrary to our philosophy which is based on time tested performance.

3

Do I Have to Own a Business In Order to Become a Client?

No, although the majority of our clients own businesses or own rental real estate, many did not when they joined our firm.  To stay true to our foundation and mission, we continue to serve individuals and families who are in need of tax and financial planning services.  We are well aware of the virtually non-existent access to financial planning services by individuals who are moderate wage earners so part of our mission is to provide access to all in a variety of different ways.

4

What are the Advantages of Working with a Fiduciary Who is a CPA?

Many CPAs have expertise in the fields or accounting, business, banking, and taxation.  When you work with a fiduciary who is also a Certified Public Accountant (CPA) you are working with a firm that manages all of your financial service needs under one roof ensures that vital information, which can impact your decision making and cause higher risk of tax audits and/or lost opportunities, is not miscommunicated or not shared at all, between different advisors who are employed at different firms.  CPAs can also represent you before the IRS and any state taxing authority should you ever get a tax notice.  An additional benefit to maintaining all your financial service needs under the management of one firm is the ability to reduce service fees overall.

5

Do I need to meet with you at your office to become a client?

No. Clients never have to come to our office to become a client. We can onboard a client virtually after meeting with you via a Zoom video session. However, you can meet with us at our West Roxbury (Boston) office if you prefer to meet in person.

6

What is the process for getting my tax returns completed at your firm?

These are the steps for becoming a tax client of the firm:

 

  1. Schedule a virtual meeting online or in-person meeting to chat with us about your tax needs and pricing at https://calendly.com/singletonwealth.

  2. Sign a client engagement letter which will be sent to you via email by DocuSign.

  3. Create your login credentials for your fully secured client portal account.

  4. Upload copies of all of your tax documents to your client portal account. You can upload all types of files, including images of forms, if you do not have them in electronic form or do not have a scanner.

  5. Timely answer any questions raised and upload any other documents needed when requested. The tax return prepare will review all uploaded documents and follow up with you if they believe something needs to be added or need more information.

  6. When all information needed has been gathered, your tax returns will be completed and go through a two-step review process before being finalized.

  7. Remit payment for service online via credit card or bank direct debit. When your returns have been finalized, you will receive an invoice for the service via QuickBooks online.

  8. Once payment has been processed, your tax returns will be automatically accessible in your client portal account for review. The processing typically takes two to three days after payment has been remitted.

  9. Once you can access your tax returns, review them carefully and let us know if you have any questions.

  10. Once you have confirmed that the tax returns are ready to be filed, we will send you an electronic signature request via our tax processing system. You must complete the authorization so we can file your tax returns electronically.

  11. We will file your tax returns once we receive confirmation that you have signed the electronic authorization.

  12. We will message you via your client portal account once we receive confirmation that the IRS and the state have accepted your tax returns.

7

Why Should I Choose Singleton Wealth?

There are four key reasons why you should choose Singleton Wealth for your tax needs over the many other tax practitioner options available. The four key reasons are experience, education, credentials, and track record.

 

Experience

Sylvia M. Singleton, MSA, MST, CPA, has worked in taxation for over two decades. She also held the titles of Professor and Director of the Graduate Program in Taxation at Suffolk University, where she taught graduate courses in individual taxation, business taxation, international taxation, estates, trusts, and gift taxation. She also mentored other faculty teaching courses in the program.

 

Education

Sylvia is also a graduate of the Master of Taxation program at Bentley University, the oldest and one of the most prestigious tax programs in the United States. Additionally, she holds a Master's Degree in Accounting from Northeastern University. Sylvia uses the knowledge she has gained to help clients strategize to minimize their tax exposure.

 

Credentials

Sylvia is a fully licensed Certified Public Accountant (CPA) in Massachusetts. A credential that is only held by 665,000 professionals in the entire United States today, significantly due to the difficulty of passing a sixteen-hour exam testing hundreds of complex tax, accounting, business, and law topics.

 

Track Record

Sylvia has never had a single client audited in her firm because of the care she takes to prepare every tax return, ensuring each year that the tax returns prepared at the firm meet the ever-evolving tax laws.

 

Still thinking, why not just choose another tax preparer who is cheaper?

 

Sylvia has helped countless individuals and businesses get out of trouble over the years. These individuals received a tax notice or were being audited by the IRS or a state due to errors made by other tax preparers. So, you should ask yourself, is it worth paying more for accurately prepared tax returns, peace of mind, and to save thousands of dollars in penalties, interest, and the additional fees the cheaper tax preparers will indeed charge you for fixing their own mistakes later?

If you own a business having your tax returns prepared by an incompetent tax preparer can cause you more than a long battle dealing with a taxing authority, penalties, and interest; it can cost you the ability to secure financing for your business.  Don't risk everything so you can save a few dollars on tax return preparation services, schedule a consultation with us to see how much value you will receive beyond tax preparation services when you choose Singleton Wealth.

5230 Washington Street

Suite 201

West Roxbury, MA 02132

617-390-2077

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