HOW CTS WORKS
Does CTS handle my tax filing?
Yes, with the Tax Preparation package selected, we take care of both the preparation and filing of your taxes. Once everything is ready, we’ll contact you for final approval, file your taxes, and withdraw any applicable payments directly from your account. Don’t forget to see our Tax Strategy package for more tax savings!
What software do you use to complete my bookkeeping?
We use QuickBooks Online for your bookkeeping needs. Syncing your financial data with our system is easy, ensuring smooth integration and precise management.
How do you collect my documents? Will I need to provide my receipts?
For bookkeeping, we securely connect your financial accounts within seconds. This feature saves you the hassle of manually submitting receipts. For tax preparation, we use a secure client portal where you can upload any requested documents and receive documents from us.
BOOKKEEPING AND ACCOUNTING
My bookkeeping and tax records are disorganized. Can you help me clean my mess?
Yes, we can definitely help! No matter how far behind you are—whether it’s months or even years—we can get you up to date.
I work with contractors & freelancers. Does CTS help with 1099s?
Yes! When CTS manages your bookkeeping, we track contractor payments to ensure accurate and timely 1099 filing. We provide electronic filing and can also mail forms to your contractors if you choose. This service will be billed separately at the time of filing.
Does CTS provide payroll management?
Yes, we offer payroll management services.
Does CTS support both cash and accrual accounting?
We use a modified cash basis bookkeeping system. We record transactions as soon as funds are deposited or charged to your bank account/credit card.
We can also handle accrual adjustments, such as tracking accounts receivable, payable, and unearned revenue with a specialized add-on. If you’re uncertain whether this approach suits your business, please reach out to discuss your needs and determine if CTS is the right fit for you.
How does bookkeeping help my business?
Bookkeeping provides a clear view of your cash flow, showing where your money is coming from and going. Up-to-date books provide an accurate measure of your business’s health, attract investors, and enable smarter financial decisions. Additionally, accurate bookkeeping simplifies tax season by avoiding last-minute scrambles and ensuring you don’t miss out on any deductions.
TAX
What kind of questions can I ask my tax team?
You can ask your tax team any quick questions throughout the year, but for a more in-depth analysis of tax savings, you can book a tax strategy session.
Are CTS Tax Professionals licensed?
Yes, all CTS Tax Advisors are fully licensed and compliant with IRS regulations.
Will CTS handle my personal income filing and state filing?
Yes! Personal federal and state income tax filings are included for sole proprietors in our Premium plan. For S-Corps, C-Corps, and Partnerships, you can add on personal filing for 1 partner or shareholder for just $59/mo when billed annually or $69/ when billed monthly.
Is there a difference between Tax Strategy and Tax Preparation?
Tax Strategy involves planning to minimize tax liability through proactive measures. Tax Preparation involves organizing and filing tax returns accurately.
Does your tax strategy service include tax preparation?
No, it does not. Tax Strategy and Tax Preparation are sold separately.
If I only need tax preparation right now, am I an ideal client?
Yes, you might be. However, you will need to have your financials in order, including a profit and loss statement and a balance sheet. If we find that your financials are not in order, we may offer our bookkeeping services to help get everything sorted.
I am very interested and want to know more, what should I do?
We are currently accepting new clients. Schedule a 30-minute discovery call with us to ensure we’re the right fit for each other.
Will you help me find tax deductions?
As part of our Tax Preparation service, we will help identify what expenses you currently should be deducting given your current structure, as well as potential deductions for your business. These can be explored further in a Tax Strategy session
PRICING
Can I change my subscription plan?
Absolutely. Each CTS package offers a unique set of services tailored to your business needs. As your business evolves, it’s normal for your needs to change. When that happens, we’ll be here to help you transition to the subscription that suits you best.
What happens to my data if I choose to cancel my CTS subscription?
CTS securely retains your data in our cloud for the duration of your business relationship with us. If you misplace your original documents, we can provide access for a nominal fee. If you prefer a complete data wipe, we will execute this upon your request.
How do I choose the best pricing plan for my business?
In our discovery call, we’ll give you a detailed overview of CTS’s packages, helping you find the ideal solution tailored to your business needs.
