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Description/Scope 
Skill Level Time Estimate Materials Equipment-Tools Library Resources Pre-requisite Knowledge
Purpose:
Revise estimated tax vouchers during the yearWho This Applies to:
All individuals, including wage earners.When to Perform:
Whenever, income or deductions change more than 10%.Special Circumstances: High bracket taxpayers must pay in more of the tax estimate for a "safe estimate".
Why This Is Important: Reduces the penalties and interest charged by the IRS for failing to make proper estimated tax payments.
General Benefits 7 Objectives: Text
This entire site is for educational or informational purposes only. You are not to use the forms, concepts, strategies, or knowledge without assistance from a professional. The author, the corporation, the ISP, Bob Parrish CPA, Bob Parrish CPA, P.C. or other parties related to those or this site do not guarantee or warrantee in any manner the suitability, usefulness, accuracy, timeliness, or results of any portions of this site, nor the links contained in this site which link to other areas. At times, information is taken from other sources and is believed to be accurate, but no verification or confirmation is performed. Furthermore, if any federal or state law invalidates a portion of this disclaimer, the other portions still apply. In addition, any allegations or actions are restricted to arbitration only and must be arbitrated by the Better Business Bureau in Sarasota Florida. Reading of these pages constitutes complete acceptance and agreement with all disclaimer provisions on all pages of this site. .......
Thursday, February 22, 2007 11:43 AM
This letter is to confirm and specify the terms of the engagement with you and to clarify the nature and extent of the services provided. In order to ensure an understanding of our mutual responsibilities, all clients are asked to confirm the following arrangements.
YOU HAVE NOT ENGAGED THIS WEB SITE, BOB PARRISH CPA, P.C. NOR BOB PARRISH CPA FOR THIS SERVICE.
The tax return and/or estimate or projection is to be prepared from information which you will furnish to this office. The firm will not audit or otherwise verify the data you submit, although it may be necessary to ask you for clarification of some of the information. At your request this office will furnish you questionnaires and/or worksheets to guide you in gathering the necessary information. Your use of such forms will assist in keeping the fee to a minimum.
It is your responsibility to provide all the information required for the preparation of complete and accurate returns. You should retain all the documents, canceled checks and other data that form the basis of income and deductions. These may be necessary to prove the accuracy and completeness of the returns to a taxing authority. You have final responsibility for the income tax returns and, therefore, you should review them carefully before you sign them.
The work in connection with the preparation of the income tax returns does not include any procedures designed to discover defalcations or other irregularities, should any exist. This office can render such accounting and bookkeeping assistance as determined to be necessary for preparation of income tax returns.
Professional judgment will be used in resolving questions where the tax law is unclear, or where there may be conflicts between the taxing authorities' interpretations of the law and other supportable positions. Unless otherwise instructed by you, questions will be resolved in your favor whenever possible.
The law provides various penalties that may be imposed when taxpayers understate their tax liability. If you would like information on the amount or the circumstances of these penalties, please contact this office.
Your returns may be selected for review by the taxing authorities. Any proposed adjustments by the examining agent are subject to certain rights of appeal. In the event of such government tax examination, this office will be available upon request to represent you and will render additional invoices for the time and expenses incurred.
The fee for these services will be based upon the amount of time required at standard billing rates plus out-of-pocket expenses. All invoices are due and payable upon presentation.
If there are any other tax returns you expect or would like for this office to prepare, such as gift and/or property, please inform this office by noting so at the end of the letter and return a copy to this office.
Bob Parrish CPA PC
For the firm,
Bob Parrish CPA
Learn: When the payments are due, and how to compute the estimates.
Forms you will need: Instructions For Filing Estimated Tax Payments; Estimated Tax Revisions During The Year; Emp W-H Certificate; or the Estimated Tax Vouchers for the specific taxing authority. Small Business Tax Calendar
What it does:
Why it works:
Law (commentary and citation)
Regs (commentary and citation)
Cases (commentary and citation)
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This is about Activity Based Taxplanning - maximizing deductions, minimizing cash outlay and maximizing the amount of cash retained and the net worth. Activity Based Taxplanning (ABT) is a methodology developed by Bob Parrish CPA, that assists people with the tax issues by focusing on the activity (or actions - events) that are being undertaken or contemplated (or have already taken place). The, research is compiled from the myriad of sources to help you complete the activity with the least tax cost, while maintaining compliance the the tax laws, other laws and regulations and place yourself in a position to protect your objectives.
Tax is a subject that many view in order to cut costs. Taxes are a cost just as any other cost. It happens this cost is somewhat intangible and is defined by legislation without a tangible item to view and control. The money is spent and the control of the expenditure is more appropriately administered by someone trained in the law.
This is about Activity Based Costing - methods to cut costs, management accounting, management information systems, decision support systems - in general about being a manager.
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Entrance Interview -
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Exit Interview
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From Banking Records
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From Customer Records |
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From Signed Documents |
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From Your Other Business, or Financial Records
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From Corporation or Organization Records (meetings, etc.)
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Assistance - What to do |
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Forms - Checklists - Etc.
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Financial Statement Presentation |
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Notes to Financial Statements |
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How to Make Entries |
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What Kind of Records to Keep |
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Bookkeeping Methods - Cash, Accrual and Other |
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How the Business Entity Affects the Recording
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Compliance Checklist
Action Checklist
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Alerts & Dangers - Risks |
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Asset Protection |
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Your Defense |
estimated_tax_1040.htm
