It is crazy to say that I actually enjoy doing taxes.Well, I think it is more the combination of researching and learning (as taxes changes all the time) and working and helping people with their tax needs.
About my background, I entered the Accounting field starting as an Accounting Assistant in 2003. I worked for a Commercial Property Investor managing multiple property accounts, while I pursued my Honor's Bachelor of Commerce and Certified General Accountancy (CGA), which I both completed and graduated in the fall of 2010. I have made the switch from working in private industry accounting to public accounting in 2009, and have worked almost 2 years as an Associate Accountant in a public accounting firm in Vancouver, British Columbia, Canada before our family moved to North Carolina, USA in early 2011.
I was eager to continue my career and learn both Canadian and US tax worlds. I started volunteering with AARP (American Association of Retired People) performing individual tax returns for the year 2013. In 2014, I decided to take the Enrolled Agent examinations provided by IRS. I am officially an Enrolled Agent as of January 2015. In all my tax return preparer career, I have never nor my clients been Audited.
I am a highly motivated person and DB Tax Solutions provides me the opportunity to continually progress in my accounting knowledge and expertise as I help and work with clients on their tax needs. I enjoy the challenge.
DB Tax Solutions is here to provide you with your individual and small business tax needs. Please call or email if you have any questions regarding tax issues, I will be glad to assist you.
Email: dbtaxsolutions@hotmail.com
Phone: 252 - 425 - 6724
Note: This website is new and it is a work in progress.
DB Tax Solutions LLC. For your Personal and Small Business needs. Tax Preparation, Tax & Financial Planning, Insurance (Life/Home/Auto), Real Estate, Notary.
Affordable Care Act (ACA)
The ACA requires a taxpayer and each member of his/her family to have qualifying health insurance knows as Minimum Essential Coverage (MEC), OR have an exemption, OR make a Shared Responsibility Payment (SPR) when the taxpayer files his/her federal income tax return. If a taxpayer purchases insurance coverage through the Health Insurance Marketplace/Exchange, s/he may be eligible for Premium Tax Credit (PTC).
COVERAGE
For more information on the Affordable Care Act, go to http://www.irs.gov/Affordable-Care-Act
COVERAGE
- If taxpayer has Minimum Essential Coverage (MEC), s/he doesn't need to do anything more than continue the insurance.
- If taxpayer does not have or maintain MEC, s/he will have to get an exemption or make a payment with the federal tax return.
- If taxpayer does not have MEC, s/he may be able to get it through the Health Insurance Marketplace/Exchange.
- If taxpayer gets MEC through the health insurance Marketplace/ Exchange, s/he may be eligible for the Premium Tax Credit (PTC).
- The PTC can be paid in advance to taxpayer's insurance company or to taxpayer when s/he files his/her federal income tax return.
- If taxpayer was granted an advance PTC, taxpayer should report changes in circumstances that will affect the credit to the Market Place/Exchange as they happen.
- If taxpayer does not have MEC or qualify for an exemption s/he may have to make an Individual Shared Responsibility Payment (SRP when s/he files his/her federal income tax return.
- Generally, the payment amount is the greater of a percentage of the household income above the taxpayer's filing threshold or a fixed amount, which varies by year. The taxpayer needs to report his/her coverage, exemption or payment on his/her federal tax return.
- Health insurance coverage information for taxpayer, spouse and all dependents.
- If taxpayer does not have full-year coverage, information on monthly coverage.
- If taxpayer purchased health insurance through the Marketplace/Exchange, Form 1095-A. S/he should receive this form by January 31.
- Any health care exemptions received from the IRS or the Marketplace / Exchange.
- All information needed to complete returns for taxpayer, spouse and for each dependent that has a filing requirement.
For more information on the Affordable Care Act, go to http://www.irs.gov/Affordable-Care-Act
Service Fees
Income Tax Preparation
2015 Tax Return rates:
Promo rates: March 1-15 March 16-31 April
Single tax return (simple) - $50.00 $55 $60
Joint Tax Return (simple) - $75.00 $85 $95
1040 + Small Business (bookkeeping completed) - $ 120.00- 180.00
Partnership (K-1) + Sole Proprietor tax returns = $250.00
PRIOR YEAR RETURNS:
Single ......................$ 75.00
Joint return ..............$95.00
NOTE: Please call 252 - 425 -6724 (dbtaxsolutions@hotmail.com) and make an appointment or confirm rates for your personal or small business tax returns. The sooner you file, the higher your savings!
Partnership
Partners are not employees and should not be issued a Form W-2. The partnership must furnish copies of Schedule K-1 (Form 1065) to the partners by the date Form 1065 is required to be filed, including extensions.
If you are a partnership or a partner (individual) in a partnership, use the information in the charts below to help you determine some of the forms that you may be required to file.
Reference: http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Partnerships
| If you are a partnership then you may be liable for... | Use Form... | Separate Instructions... |
|---|---|---|
| Annual return of income | 1065,U.S. Return of Partnership Income (PDF) | Instructions for Form 1065 U.S. Return of Partnership Income (PDF) |
Employment taxes:
|
941, Employer's Quarterly Federal Tax Return (PDF) and 943, Employer's Annual Federal Tax Return for Agricultural Employees (for farm employees) (PDF) 940, Employer's Annual Federal Unemployment (FUTA) Tax Return (PDF) |
Instructions for Form 941 Employers QUARTERLY Federal Tax Return (PDF) Instructions for Form 943 Employers Annual Federal Tax Return for Agricultural Employees (PDF) Instructions for Form 940 Employers Annual Federal Unemployment (FUTA) Tax Return (PDF) |
| Excise Taxes | Refer to the Excise Tax Web page |
| If you are a partner (individual) in a partnership then you may be liable for... | Use Form... | Separate Instructions... |
|---|---|---|
| Income Tax | 1040, U.S. Individual Income Tax Return (PDF) and Schedule E (Form 1040), Supplemental Income and Loss (PDF) | Instructions for 1040 U.S. Individual Income Tax Return (PDF) Instructions for Schedule E (Form 1040) (PDF) |
| Self-employment tax | 1040, U.S. Individual Income Tax Return (PDF) and Schedule SE (Form 1040), Self-Employment Tax (PDF) | Instructions for Schedule SE (Form 1040) (PDF) |
| Estimated tax | 1040-ES, Estimated Tax for Individuals (PDF) |
Professional Reference
I am proud to make this statement in evaluating Donna Brown’s
professionalism and ethical conduct as an Income Tax Counselor for the
AARP Foundation. Her work was always completed in the most professional
manner ready for e-filing/mailing to the Internal Revenue Service. Donna
was always prompt to deliver services as promised and on time. Always
abounding with a pleasant, warm and a skillful attitude, she continued
throughout the period of our association to practice her proficiency as
an Income Tax Counselor with superior knowledge and training. Donna
always performed her duties with the perception of treating each
customer as though that person and his/her personal income tax return is
paramount to be completed with care and accuracy. Her approach to
standards of conduct demonstrated to our group of tax counselors to have
ample moral integrity and always preformed in the most professional
manner. She was and could be a valued tax expert in any office desiring
her valued service. I would be elated to have Donna Brown as a member
of my staff anytime and anywhere should she desire to return.
Richard D. Heroux
AARP Local Coordinator
Louisburg Service Center
Richard D. Heroux
AARP Local Coordinator
Louisburg Service Center
Business Engagement Letter
Business
1
DB Tax Solutions
593 Lake Royale,
Louisburg, NC 27549
ENGAGEMENT LETTER
PLEASE SIGN
& RETURN
I have
engaged your firm to prepare my:
_________ Federal Income Tax Return -Form 1040- Schedule C, 1065 or 1120 or 1120 S
________ Please file a ______ extension form for me.
________ Estimated Tax calculation
________ Bookkeeping
________ Bank Reconciliations
________ Bank Reconciliations
________ Income and Expense Statement
________ Consultation or Other
________________________________________________________________
I understand that it is my responsibility to
provide you with all of the information required to complete my tax return. In
that regard I state that, to the best of my knowledge and belief:
I have
provided true, correct and complete information regarding my income as listed
on the attached Forms W-2, 1099 and/or attached written summaries.
I will
retain for 4 years all the documents, receipts, cancelled checks and other
records required to substantiate the items of income and expense claimed on my
return. I have provided true, correct and complete information, regarding
amounts I have provided to you, to claim as tax deductions, and have maintained
written documentation supporting all amounts, including logbooks and receipts.
I understand that if a question arises regarding the interpretation of tax law,
and a conflict exists between the tax authorities' interpretation of the law,
and other supportable positions, that you will use your professional judgment
in resolving the issues.
I understand
that taxing authorities may examine the returns, that documentation should be
retained to support the information provided to you, especially business travel
and entertainment deductions, business use % of autos, cell phones and other
assets, and barter activities, and that penalties may be imposed on returns
that are late, underpaid or incorrect.
I understand
that you will not audit or otherwise verify any information, that you may
require clarification or additional information, that you are not responsible
for disallowed deductions, or the inclusion or additional unreported income or
any resulting taxes, penalties or interest.
I understand
that I will be charged an additional fee if you are asked to assist or
represent me in a tax examination or IRS inquiry. I understand that, in the
event of preparer error, I am responsible for additional tax that may be due,
but that the extent of your responsibility is to pay for any penalty that the
IRS or the above state revenue department may assess within 90 days upon completion of tax return.
I will
contact you immediately if I discover additional information that will lead to
a change in my return, or if I receive any letters from the IRS or state taxing
authorities.
I understand
that your policy is to put all tax advice in writing, and that I will not rely
upon any unwritten advice because it may be tentative, incomplete, or not fully
reviewed.
I understand
that you will not file any federal, state or local tax extensions without my specific
written or emailed request to do so. If there are other services or tax returns
that I expect you to prepare, such as estate, gift, sales, fiduciary, property,
or other states or cities, I will note them at the bottom of this letter.
CONFIDENTIAL
All
information provided will remain confidential and will only be used for
accounting purposes.
RECORD RETENTION
All of your
original records will be returned to you. We will scan your documents and keep
electronic copies in consistent with our paperless goal. It is agreed and understood
that in connection with the performance of this engagement by DB Tax Solutions that
the work papers prepared by us shall remain the property of DB Tax Solutions.
FEES
No tax
return will be electronically filed until the tax preparation and bookkeeping
bills are paid in full.
All fees are
due when you pick up the tax return. If there is significant bookkeeping time
for businesses or estates than monthly progress bills will be sent and must be
paid immediately. I understand that your bill will be due and payable upon
completion of these returns.
I understand
that your bill will be based upon the predetermined amount given to me $______,
or an hourly rate of $50.00 per hour.
We encourage
you to contact us before making decisions to obtain tax information and provide
an opportunity for tax planning.
We
appreciate the opportunity to serve you, and look forward to a continuing,
mutually satisfying relationship.
Very truly
yours,
DB Tax
Solutions
The terms
described in this letter are acceptable and are here by agreed to and shall
remain in effect until terminated by either party in writing.
Accepted By:
_______________________________ Date: _____________
For Business
Owners only: Name of Business:_______________________________________________
I personally
guarantee the payment of the tax preparation and bookkeeping fees for this
entity. A separate engagement letter will be required for your personal tax
return.
Signed by
Business owners _________________________ Date ____________________
Individual Engagement Letter
Individual
1
DB Tax Solutions
ENGAGEMENT LETTER
PLEASE SIGN
& RETURN
I have
engaged your firm to prepare the following:
_________ Federal Income Tax Return -Form 1040
________ State Income Tax Return(s)
________ Please file a ____________ year extension form for me.
________ Estimated Tax calculation for year __________
________ Bookkeeping
________ Consultation or Other ________________________________________________________________
I understand that it is my responsibility to
provide you with all of the information required to complete my tax return. In
that regard I state that, to the best of my knowledge and belief:
I have
provided true, correct and complete information regarding my income as listed
on the attached Forms W-2, 1099 and/or attached written summaries.
I will
retain for 4 years all the documents, receipts, cancelled checks and other
records required to substantiate the items of income and expense claimed on my
return. I have provided true, correct and complete information, regarding
amounts I have provided to you, to claim as tax deductions, and have maintained
written documentation supporting all amounts, including logbooks and receipts.
I understand that if a question arises regarding the interpretation of tax law,
and a conflict exists between the tax authorities' interpretation of the law,
and other supportable positions, that you will use your professional judgment
in resolving the issues.
I understand
that taxing authorities may examine the returns, that documentation should be
retained to support the information provided to you, especially business travel
and entertainment deductions, business use % of autos, cell phones and other
assets, and barter activities, and that penalties may be imposed on returns
that are late, underpaid or incorrect.
I understand
that you will not audit or otherwise verify any information, that you may
require clarification or additional information, that you are not responsible
for disallowed deductions, or the inclusion or additional unreported income or
any resulting taxes, penalties or interest.
I understand
that I will be charged an additional fee if you are asked to assist or
represent me in a tax examination or IRS inquiry. I understand that, in the
event of preparer error, I am responsible for additional tax that may be due,
but that the extent of your responsibility is to pay for any penalty that the
IRS or the above state revenue department may assess within 90 days upon completion of tax return.
I will
contact you immediately if I discover additional information that will lead to
a change in my return, or if I receive any letters from the IRS or state taxing
authorities.
I understand
that your policy is to put all tax advice in writing, and that I will not rely
upon any unwritten advice because it may be tentative, incomplete, or not fully
reviewed.
I understand
that you will not file any federal, state or local tax extensions without my specific
written or emailed request to do so. If there are other services or tax returns
that I expect you to prepare, such as estate, gift, sales, fiduciary, property,
or other states or cities, I will note them at the bottom of this letter.
CONFIDENTIAL
All
information provided will remain confidential and will only be used for
accounting purposes.
RECORD RETENTION
All of your
original records will be returned to you. We will scan your documents and keep
electronic copies in consistent with our paperless goal. It is agreed and understood
that in connection with the performance of this engagement by DB Tax Solutions that
the work papers prepared by us shall remain the property of DB Tax Solutions.
FEES
No tax
return will be electronically filed until the tax preparation and bookkeeping
bills are paid in full.
All fees are
due when you pick up the tax return. If there is significant bookkeeping time
for businesses or estates than monthly progress bills will be sent and must be
paid immediately. I understand that your bill will be due and payable upon
completion of these returns.
I understand
that your bill will be based upon the predetermined amount given to me $______,
or an hourly rate of $50.00 per hour.
We encourage
you to contact us before making decisions to obtain tax information and provide
an opportunity for tax planning.
We
appreciate the opportunity to serve you, and look forward to a continuing,
mutually satisfying relationship.
Very truly
yours,
DB Tax
Solutions
The terms
described in this letter are acceptable and are here by agreed to and shall
remain in effect until terminated by either party in writing.
Accepted By:
_______________________________ Date: _____________
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