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Frequently Asked Questions

FAQ

Frequently Asked Questions

Honest answers to the questions we hear most — about CPAs, taxes, pricing, and what it’s actually like to work with us.

General

A Certified Public Accountant (CPA) has passed the Uniform CPA Exam, met state education and experience requirements, and maintains a state license through ongoing continuing education. The license requires accountability that unlicensed tax preparers don’t face. For anything beyond a simple return — self-employment, business ownership, investments, major life events — a CPA brings both technical depth and professional accountability.

A tax preparer may have no formal credential at all — anyone can legally prepare taxes in most states. A bookkeeper handles day-to-day transaction recording. A CPA is licensed, can represent you before the IRS, advises on tax strategy, prepares complex returns, and provides a level of professional accountability that neither unlicensed preparer can.

Maybe not every year. Tax software handles straightforward W-2 returns reasonably well. But ‘simple’ situations often hide complexity — a side income, a home sale, an inheritance, a life change. A CPA review can catch things software misses, and tax planning year-round often saves more than the cost of the service itself.

It’s never too late — but earlier is almost always better. October through December is actually prime planning season. We can still make moves before December 31 that meaningfully reduce what you owe, and onboarding before tax season means filing goes smoothly without a scramble.

Yes. Regal Accounting is a fully virtual firm. We serve clients across the United States using secure online document sharing, video calls, and digital signing. If you can send a PDF and do a Zoom call, geography is not a barrier.

Personal Tax

We send every new client a tailored checklist after the consultation. Generally: W-2s and 1099s, last year’s return, Social Security statements (if applicable), mortgage interest and property tax statements, brokerage 1099-B/DIV/INT forms, charitable donation receipts, and records of any major life events. We guide you through it — you don’t need to figure it out alone.
We calculate both and use whichever is larger. The 2025 standard deduction is $15,000 (single) and $30,000 (married filing jointly). Most people take the standard deduction now, but homeowners with large mortgage interest, high state taxes, or significant charitable giving often benefit from itemizing.
Only if you are self-employed. The home office deduction is not available to W-2 employees since the 2017 Tax Cuts and Jobs Act. For self-employed individuals, the space must be used regularly and exclusively for business. We calculate both the simplified and actual expense methods and use whichever benefits you more.
It adds a Schedule C to your return and introduces self-employment tax (15.3% on net self-employment income). The upside: you can deduct legitimate business expenses and make tax-advantaged retirement contributions (SEP-IRA, Solo 401k) that W-2 employees cannot. We make sure you’re taking full advantage.
Both are fixable. Unfiled returns can be brought current — the IRS has collection programs and penalty abatement options. Errors are corrected with an amended return (Form 1040-X). The right move is almost always to address it proactively rather than wait. We handle both regularly.

Business Tax

Sole proprietors, single and multi-member LLCs, S-Corporations, C-Corporations, and partnerships. We also help new business owners decide which structure is most advantageous before they form — that decision has long-term tax implications worth getting right from the start.
Generally when your net self-employment income consistently exceeds $50,000 to $60,000 per year. An S-Corp election allows you to split income between a reasonable salary (subject to payroll tax) and a distribution (not subject to self-employment tax), which can generate meaningful savings. We run the numbers for your specific situation.
If you expect to owe $1,000 or more in federal taxes for the year, you are generally required to make quarterly estimated payments (due April 15, June 16, September 15, and January 15). Underpayment triggers a penalty even if you receive a refund at year-end. We help clients calculate accurate payment amounts so they’re never surprised.
Ordinary and necessary expenses of your business. Common deductions include: home office (if exclusively and regularly used), vehicle mileage, software and subscriptions, professional fees, advertising, equipment, a portion of phone and internet, and business meals (50%). We review your situation and make sure nothing legitimate is left on the table.
At minimum: a dedicated business bank account, a bookkeeping system (QuickBooks Online or Xero), and a clear process for tracking expenses. We help new business clients set up their chart of accounts correctly from day one, which saves significant cleanup costs later. We also make sure you understand your tax obligations before you’re surprised by them.

Pricing & Payments

We charge fixed, value-based fees — not by the hour. You know exactly what you’re paying before we start any work. Pricing is based on the complexity of your situation and the scope of services, confirmed at the free consultation. See our Pricing page for starting rates.
No. Hourly billing creates the wrong dynamic — clients hesitate to call with questions, and the incentives don’t align with getting work done efficiently. Our fixed fees mean you get full access to our expertise without watching the clock.
We define scope clearly in your engagement letter before we start. For personal returns: federal and applicable state returns, e-filing, a copy of your completed return, and any questions that come up during the process. For ongoing business plans: monthly bookkeeping, tax prep, and advisory access as defined in the plan tier. No surprise add-ons.
Monthly business plans are already spread across the year. For annual personal plans, we can arrange quarterly installments — just ask during your consultation. We want working with us to be accessible, not stressful.
We’ll tell you before we begin. If your return or situation requires more scope than a standard tier, we give you a custom quote upfront and you decide whether to proceed. There are no surprise invoices after the work is done.

Working Together

Everything happens online. After the free consultation, we send you an engagement letter and a document checklist. You upload files securely through our client portal. We prepare your return or manage your books, communicate any questions by email or video call, and deliver finished work digitally. You review, approve, and sign electronically. No office visit required.
Through our secure client portal — encrypted, access-controlled, and far more secure than email. We’ll send you a portal invitation after you become a client. Please don’t email sensitive financial documents as attachments; the portal is the right channel.
Within one business day for messages received Monday through Friday. Clients on Growth or Premier business plans receive priority response. During peak filing season (February through April), response times may extend slightly — we’ll communicate proactively if that’s the case.
Yes. Mid-year transitions happen regularly and we handle them smoothly. We request prior-year returns and any documents from your previous preparer (a standard professional transfer process). Starting mid-year also gives us time to do real planning before year-end rather than just filing.
We discuss it. If the scope changes substantially — a business sale, a major acquisition, a new state filing requirement — we’ll adjust accordingly with a revised quote. Changes that are minor are typically absorbed without additional cost. We’d rather have an honest conversation than surprise you later.

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Book a free 30-minute consultation. We’ll answer everything specific to your situation before you spend a dollar.

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