Taxes and your cash apps

WASHINGTON D.C., DC — With the new year, comes new tax requirements if you’re one of the many who have small businesses. 2022 tax laws will affect you if you accept payment for goods and services through third-party payment apps. These are apps like like Venmo, PayPal and Cash App.

These apps are now required to report transactions for goods and services that exceed $600 during a calendar year to the IRS. 

Don’t panic! If you’re like some people and only use these apps for sending loved ones the gift of cash or maybe you’re paying your share of a dinner. This law does not affect these exchanges. The new law is only for people that sell their stuff or get paid for work they have done

If you’re confused, Becky at Sheldon Tax Prep will answer any questions during your scheduled appointment.

PRICING

WHAT WILL IT COST TO GET MY TAXES DONE AT SHELDON TAX PREP?

PRICES ARE AS FOLLOWS

  • $125.00 for the simple 1040 without schedules1040 tax forms with schedules are as follows
  • 1. $260 for a Schedule A. Schedule “A” includes property taxes, mortgage interest, and charity donations
  • 2. $175 for a Schedule C. “C” is a SOLE PROPRIETORSHIP. However, if your Schedule “C” also includes DEPRECIATION schedules, your cost is $300 and up.
  • 3. $175 for a 1040 form with a Schedule “E”, “E” refers to RENTAL properties. A charge of $25.00 will be added for EACH ADDITIONAL RENTAL
  • 4. $250 for a 1040 form that includes STOCK TRADES.
  • 5. $300 and up for a 1040 with an LLC AND OR PARTNERSHIPS.
  • 6. $100 for a basic 1040 for NON-PROFITS (this price is subject to change)

*****IMPORTANT******

PLEASE REMEMBER TO KEEP YOUR TAXES IN A SAFE YET ACCESSIBLE PLACE.

You will receive a copy of your tax return from Sheldon Tax Preparation upon completion. This copy is included in your price. If you need any additional copies at any time during the year, the fees are as follow: 

                                               $40 for each additional paper copy

                                                  $25 for additional digital copies

SHELDON TAX PREPARATION accepts in house payments through check and money order as well as:

TO OUR CLIENTS

 Thank you for choosing Sheldon Tax Prep to prepare your income tax returns.  Based on information you provide we are happy to provide our services. Although our work will not include procedures to discover irregularities or inaccuracies  we may ask for clarification of certain information, or additional information, so that we can prepare accurate and complete returns for you. It is your responsibility to provide all necessary information related to income and deductions for the tax year and to respond to our inquiries in a timely manner so that we are able to accurately complete your returns by the appropriate due dates. You are responsible for maintaining appropriate records, such as official tax documents you receive, receipts and substantiation for your deductions, and purchase and sales information for assets. It is your responsibility to review your returns before they are filed to determine that all income has been correctly reported and that you have substantiation for your deductions. Filing your returns by the due dates is your responsibility. If your returns are later selected for review or audit by taxing authorities, we will be glad to assist or represent you if you desire. Our fees for preparing your returns do not include time that might be necessary to assist you during a taxing authority review. Our fees for preparation of your returns are based upon our standard billing rates plus out-of-pocket expenses. Our invoices are due and payable upon presentation. If this letter accurately summarizes your understanding of our agreement relating to the preparation of your tax returns, please sign copy in the space indicated and return it to us. Thank you again for choosing our firm to prepare your tax return. We appreciate your business.

SIGNATURE

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