FAQs

Frequently Asked Questions

We’ve compiled answers to some of the most common questions about tax preparation, bookkeeping, payroll, and more. Whether you’re curious about pricing, processes, or timelines, you’ll find the information you need here.

General FAQs

  • 1. What services does LTD Tax & Accounting provide?

    We offer comprehensive accounting solutions, including tax preparation and planning, bookkeeping, payroll services, business tax support, and new business formation guidance. Our goal is to help individuals and businesses stay compliant and financially organized.

  • 2. Do you work with both individuals and businesses?

    Yes. We support individuals with personal tax needs and businesses of all sizes, from sole proprietors to corporations. Whether you’re managing personal finances or running a company, we tailor our services to fit your situation.

  • 3. How do I know which accounting services are right for me?

    During your initial consultation, we assess your financial goals, current challenges, and compliance requirements. From there, we recommend a customized package of services that provides the most value for your needs.

  • 4. Can LTD Tax & Accounting help if I’m behind on filing taxes?

    Absolutely. We regularly assist clients in catching up on prior-year returns and resolving IRS or state tax issues. Our team works quickly to bring your filings up to date and help minimize penalties.


  • 5. Do you provide virtual or remote accounting services?

    Yes. We offer flexible in-person and remote support. Many of our clients choose secure digital communication and document sharing, making it easy to work with us from anywhere.

  • 6. How secure is my financial information with your firm?

    Your privacy and security are top priorities. We use encrypted systems and follow strict confidentiality practices to ensure your financial information is always protected.


  • 7. How do I get started with LTD Tax & Accounting?

    Simply reach out to schedule a consultation. We’ll discuss your needs, explain how our services can help, and guide you through the onboarding process so you can start benefiting right away.

Tax Preparation FAQs

How much does tax preparation cost?

The cost varies based on the complexity of your return. Simple individual returns are typically less expensive, while business filings or multi-state returns may require more time and expertise. Contact us for a personalized quote.

What documents do I need for tax preparation?

You’ll need documents like W-2s, 1099s, receipts for deductible expenses, and records of income or investments. We’ll provide a checklist to make gathering these documents easier.

When is the tax filing deadline?

For most individual tax returns, the deadline is April 15. If it falls on a weekend or holiday, the deadline shifts to the next business day. Business tax deadlines may vary based on the entity type.

Can you help with back taxes or audits?



Yes! We assist with filing prior-year taxes and provide audit support, including representation before the IRS if needed.

How do I know if I need to file taxes?

Most individuals earning income above a certain threshold are required to file. Factors like age, filing status, and type of income affect your filing requirements. Explore more on our Tax Preparation page.

Bookkeeping FAQs

  • How much do bookkeeping services cost?

    Bookkeeping costs depend on the size of your business, the volume of transactions, and the frequency of service (monthly, quarterly, or annually).

  • Why is bookkeeping important for my business?

    Accurate bookkeeping ensures you have a clear picture of your financial health, simplifies tax filing, and supports informed decision-making.

  • Can I access my financial reports anytime?

    Yes! Our secure Client Portal provides 24/7 access to your financial records and reports, so you’re always informed.

  • What software do you use for bookkeeping?

    We work with leading software like QuickBooks and Xero and can integrate with your existing systems.

  • Can you help me catch up on overdue bookkeeping?

    Absolutely! We specialize in bringing your books up to date and organizing your records to ensure everything is accurate and compliant.

Payroll FAQs

How much do payroll services cost?

Our pricing depends on factors such as the number of employees, pay frequency, and additional features like tax filings or direct deposit setup. Contact us for a custom quote.

What information do I need to provide for payroll?

You’ll need employee details, tax forms (e.g., W-4s), hours worked, salary or wage rates, and any deductions like benefits or retirement contributions.

Do you handle payroll tax filings?

Yes, we manage all payroll tax filings to ensure compliance with federal, state, and local regulations.

Can you process payroll for remote employees?

Yes! We handle payroll for remote teams across multiple states, ensuring compliance with all applicable laws.

What payroll reports do you provide?

We generate detailed payroll reports, including wage summaries, tax liabilities, and year-to-date totals, to keep you informed.

Explore more on our Payroll page.

Business Tax FAQs


1. What types of businesses do you work with?

We work with all types of businesses, including sole proprietorships, partnerships, LLCs, S Corporations, and C Corporations.

2. How can I reduce my business’s tax liability?

Proactive tax planning is essential. We identify deductions, credits, and other tax-saving strategies to minimize your tax burden.

3. Can you handle multi-state tax filings?

Yes, we specialize in multi-state tax filings for businesses with operations in multiple locations.

4. What is the deadline for filing business taxes?

The deadline depends on your business type:

• S Corporations and Partnerships: March 15

• C Corporations: April 15

5. Can you help with business tax audits?

Yes, we provide representation and support during audits to ensure your interests are protected.

New Business Formation FAQs

1. What is the first step in starting a business?

The first step is choosing the right legal structure (e.g., LLC, corporation, partnership) and registering it with the appropriate state agencies.

2. Do I need a business plan?

Yes, a business plan is essential for outlining your goals, managing finances, and securing funding if needed.

3. How long does it take to set up a business entity?

Timelines vary based on your state and entity type, but it typically takes 1–4 weeks.

4. Do I need an EIN (Employer Identification Number)?

Most businesses require an EIN for tax purposes, payroll, and opening a business bank account.

5. Can you help with compliance after my business is formed?

Yes, we provide ongoing support to ensure you remain compliant with tax, payroll, and other legal obligations.

Explore more on our New Business Formation page.

A woman is sitting at a desk holding a pen and a calculator.

Specialty Services FAQs

1. What is Form 990, and do nonprofits need to file it?

Form 990 is an annual tax return required for nonprofit organizations to maintain tax-exempt status. Most nonprofits must file it unless exempted.

2. Who needs to file an FBAR?

U.S. persons with foreign bank accounts exceeding $10,000 at any time during the year must file an FBAR (Foreign Bank Account Reporting).

3. Can you help with sales tax compliance?

Yes, we assist with managing sales tax filings and ensuring your business complies with state regulations.

4. What is gift tax, and do I need to file it?

Gift tax applies to certain large gifts exceeding the annual exclusion amount. We can help determine if you’re required to file.

5. Do you provide tax services for trusts?

Yes, we offer tax preparation and compliance support for various types of trusts.

Explore more on our Specialty Services page.