Resources

Resource / ree-sohrs / NOUN: A source of supply, support, or aid, especially

one that can be readily drawn upon when needed.

Resources

Resource / ree-sohrs / NOUN: A source of supply, support, or aid, especially one that can be readily drawn upon when needed.

FAQs

Am I required to file a tax return?

The IRS requires a taxpayer to file if their income exceeds the following thresholds:

Single taxpayer – $12,550. (Plus another $1,650 if aged 65 or older).
Married Filing Joint taxpayers – $25,100. (Plus another $1,300 per spouse if aged 65 or older).

As a new client, what documentation should I provide you with?

Individual Taxation:

Two years’ worth of tax returns.
Any Form W-2’s, 1099’s, 1095’s.

Business Taxation:

Two years’ worth of tax returns.
Executed Company Agreement and Formation Documents.
Financial Statements (including Balance Sheet, Profit & Loss Statement and General Ledger).

Trust Taxation:

Two years’ worth of tax returns.
Executed Trust Agreement.

Estate Taxation:

Original Death Certificate.
Probated Will including Asset Valuations.

*In addition, we encourage you to provide all other documentation reflecting income, withholding, or possible deductions.*

By what date should I submit my documentation to ensure timely filing of my tax return?

To achieve the high level of quality we pride ourselves on, we strongly advise that you have your tax information submitted a minimum of 45 to 60 days before your project’s applicable deadline.

How long do I need to retain my tax records?

The IRS requires taxpayers to preserve their tax returns indefinitely and supporting tax documentation for a minimum of 5 to 7 years. Your tax records can be stored either physically or electronically.

Can you set-up my company for me?

We are happy to collaborate with an attorney throughout the set-up process of your new company, however, at this time, our firm does not provide standalone legal services.

What are your minimum service fees?

Every project’s invoice is calculated based upon the amount of time spent by each team member within our firm. Chargeable rates are based upon a Professional’s level of expertise and years of industry service. While based on time, our firm has established minimum fees that depend on the type of service being performed:

Tax Services:
- Our tax services start with a Minimum Service Fee of $5,000 per client group, accommodating everything from a single complex return to multiple simpler returns. For insights into our tax offerings, including Individual, Business, Trust & Estate, TX Franchise, and Out-of-State Taxation, please reach out to us directly at 210-798-2500 or by email at cpas@wenzelcpas.com.

Audit Services:
- Due to the wide array of variables unique to each client’s needs, Minimum Service Fees are quoted on a project specific basis. To get more information on what exactly is involved with a Financial Compilation, Accounting Review, or Financial Statement Audit, please contact our firm by phone at 210-798-2500 or by email at cpas@wenzelcpas.com.

When will I receive my Invoice?

We strive to provide our clients with their invoice 4 to 6 weeks after a project’s date of completion.

How do I pay my Invoice?

We accept Cash, Check, and Debit/Credit Cards. If paying by Card, we are capable of processing your payment in-person, over the phone, or online at https://wenzelcpas.com/pay-invoice/.