FAQ
Questions, answered.
Eighteen questions we hear most often — from first-time clients and long-time business owners alike.
Category 1
Getting started
Do you offer a free initial consultation?
Yes. The first conversation is free. Call (561) 278-1199 or use our contact form and we will schedule time to understand your situation before recommending any services or quoting fees.
Do you work with both individuals and businesses?
Yes. We serve individuals (personal tax returns, estate planning, retirement planning, IRS problem resolution) and small-to-mid-size businesses (monthly accounting, payroll, tax planning, QuickBooks consulting).
Are you licensed in Florida?
Yes. KDM Accounting Services Inc is a Florida-licensed accounting firm. Our main office is in Boca Raton with a second office in Fort Lauderdale.
What does it cost to work with you?
Individual tax return pricing typically starts below $500; business engagements (monthly accounting + payroll + year-end tax) are flat-fee depending on transaction volume. We quote up-front after the free consultation so there are no surprises.
Category 2
Tax preparation & planning
Can you handle multi-state tax returns?
Yes. Many of our clients file in multiple states due to rental properties, business nexus, or part-year residency. We handle federal plus every state return you need in a single engagement.
When should I start tax planning for next year?
Ideally, by mid-year. Q3 (July–September) is the best time to evaluate estimated payments, retirement contributions, and any year-end strategies. Waiting until December limits most of the highest-value options.
Do you handle crypto, stock options, or rental properties?
Yes. We regularly handle 1099-B reporting, RSU/ISO/NSO compensation events, rental property Schedule E, and cryptocurrency (including cost-basis reconstruction across exchanges).
Category 3
IRS problems
I have unfiled tax returns — where do I start?
Call us first. We will pull an IRS account transcript, reconstruct missing records, file the returns correctly, and negotiate any resulting balance (payment plan, partial-pay, or Offer in Compromise depending on your situation).
The IRS sent me a letter. What do I do?
Do not ignore it. Many IRS notices have short response windows (30 or 60 days). Forward it to us and we will explain what it means and draft the response. Most notices resolve without escalation when answered properly.
Can you stop a wage garnishment or bank levy?
Usually, yes — but timing matters. A wage garnishment or bank levy can often be released within days once we file the right paperwork and establish a resolution path. Contact us immediately if you have received a Final Notice of Intent to Levy.
What's an Offer in Compromise?
An OIC is an IRS-approved settlement where you pay less than the full tax debt because paying the full amount would cause financial hardship. It is not a magic bullet — the IRS accepts about 1 in 3 offers — but when it fits, it can resolve decades of tax debt.
Category 4
Business & QuickBooks
Which business entity should I choose?
It depends on your income level, partners, and long-term goals. An LLC taxed as an S-corp often saves self-employed filers with $80K+ net income significant payroll tax. We run the numbers both ways in the initial consultation.
I'm starting a new business. What do you set up?
We handle entity formation paperwork, EIN, state registrations, initial chart of accounts, payroll setup, sales tax registration (if applicable), and a QuickBooks file ready for transactions — typically within one to two weeks.
My QuickBooks file is a mess. Can you fix it?
Yes. Our QuickTune-Up service is a diagnostic review followed by targeted cleanup: miscategorized transactions, duplicated entries, unreconciled bank accounts, and missing closing balances. Most files can be back to clean within one engagement.
Do you do payroll for small businesses?
Yes. Weekly, bi-weekly, semi-monthly, or monthly — direct deposit included. All federal, state, and local payroll tax filings (941, 940, state unemployment, W-2, 1099) are included in the flat monthly fee.
Category 5
Personal financial planning
Do you manage investments?
We do not manage money directly, but we coordinate closely with your investment advisor on tax-efficient strategies: which account to draw from in retirement, Roth conversions, harvesting losses, and Social Security timing.
Can you help with estate planning?
Yes — on the tax and financial side. We work alongside your estate attorney to minimize estate and gift taxes, optimize trust structures, and ensure beneficiary designations align with the overall plan.
What is elder-care financial planning?
It is coordination of an aging family member's finances: bill paying, Medicare/Medicaid planning, long-term care funding, and tax implications of care decisions. We act as the financial quarterback so your family can focus on care, not spreadsheets.
Still have a question?
We respond to inquiries within one business day. Call us or send a note.