FAQ
Questions about your taxes:
(Click each photo for more)
Q: How much will I save?
A: Our clients average a 15% reduction on prior year's tax returns we review. We have seen this as high as 30%. Each is a case by case basis, but with our small business experience we are able to maximize tax benefits that other firms ignored.
Q: How do you decrease taxes over $250,000?
A: Very few ways to do that once your AGI reaches $250,000. Donations to nonprofits are still allowable and you can donate up to 60% of your income to reduce your tax liability.
Q: How do you ensure all the deductions are maximized?
A: We utilize our checklist that is updated annually to ensure that all deductions are caught and maximized. Email us to obtain a copy and determine if your tax professional has captured everything possible. If not, let us take a look at your previous tax returns.
Q: How long have you been in business?
A: We have been in business doing tax consulting for 18 years.
Q: How many nonprofits have you set up?
A: We have set up over 45 since 2005, and we are not aware of anyone else that's helped establish more.
Q: How long does this process take?
A: Tax reviews can take up to two weeks depending on the time of year (longer during tax season). Setting up a nonprofit can take approximately 3 months depending on the state approval process.
Q: Any restrictions with a nonprofit?
A: A few simple ones. The nonprofit may not engage in any political activities, assets cannot be used for personal enrichment, must file an annual tax return and must withhold taxes on any employees.
Q: What can be donated?
A: Almost anything. Cash or other financial instruments are easiest to value. Other things like vehicles, boats, planes, etc. can be donated but must have a third party valuation first.
Don't see your question here? Email us at info@ntscharlotte.com or call us at +1-800-503-0604.