What tax forms are included with this service?
For the 1120S service, we will prepare all forms required (including but not limited to Schedule B, Schedule K, Schedule L, M-1, M-2, Schedule K-1, Form 4562 and 1125-E).
For the 1065 service, we will prepare all forms required (including but not limited to Schedule B, Schedule K, Schedule L, M-1, M-2, Schedule K-1 and Form 4562).
One state return is included with each of the above noted services.
How long will it take to prepare my return?
The full tax process with Halon takes up to 3 days (average is 36 hours)
What does the review by CPA Tax Team mean?
Every return prepared by Halon is reviewed by a member of the CPA Tax Team for accuracy, deduction risk, and strategies. This means you get all of the benefits you want, without the risk that gets people in trouble. If you choose the Gold Package, you also meet with the CPA tax team for a deeper review.
Will I be able to look at the return before it’s filed?
Yes. Halon will upload a copy of the prepared return to your portal and notify you when it’s there and ready for your review. Nothing gets filed until you approve it.
How do I approve my tax return?
After you log in and review the return, you will sign off on a Form 8879 via our Adobe-signature software. That is our authorization of approval from you and once we receive it back signed, we will e-file your return.
Will I communicate with Halon or the Tax Team at all?
In the Bronze and Silver packages, you will not communicate with the team at all unless they have a question (only about 1% of returns require this). In the Gold package the CPA Tax Team meets with you to go over tax planning strategies and dive deeper into the return.
What if I run a loss?
Halon uses your revenue or your expenses, whichever is greater to price your return.
Can Halon also prepare my personal tax return?
Last year Halon did prepare personal tax returns, but for Tax Year 2017 it does not. We recommend using TaxAct, Turbo Tax, or a similar tax preparation software, or you can take your personal return to a tax preparer. Either way, you will save about $700 using Halon for your business return.
What information should I gather prior to starting with Halon?
One requirement of using Halon is that you connect your QuickBooks Online or Xero bookkeeping software to our system. We use that connection to prepare your return, so you will need your logins for those systems. If you do not have your books on QBO or Xero, you can upload pdf copies of your financial statements.
Make sure you have a copy of your prior year tax return on your computer as Halon will need a copy.
If you start the wizard and find you need to stop to gather more information, don’t worry, you can pick up where you left off anytime.
What if I have more than one state return to file?
One state filing is included with your service price. If you have more than 1 state, each additional state is $99.
If I owe state tax with my return, how do I pay it?
In the portal you will have payment vouchers if a payment is necessary. Download those and they will detail how to make payment and where to send it.
If I’m getting a refund from the state, how do I receive it?
The state will send you a check for the refund to your address listed on the tax return.
Will I get K-1 forms to send to my business partners?
Yes. These forms will be available for download in your portal
Do you review my financials that I send you for errors?
No, we do not review your books for errors. If we see something we will point it out, but if you do not believe your books are accurate, you should use one of our bookkeeping services.
We offer several add on packages for services like bookkeeping (it is not included in the corporate tax prep pricing). We can do bookkeeping setup, review, or full year financials for an additional cost.
If you choose not to add these services, we will use the information you submit to prepare the return so be sure everything is accurate before submitting. If we are missing something needed, Halon will request that information from you via the chat system.
Do I have to use Xero or QuickBooks Online to use Halon?
Yes. QuickBooks Online and Xero users can connect to Halon.
What if I have multiple businesses?
Not a problem but each business will need to have its own login and portal system so you will need to purchase a separate service for each business.