Frequently Asked Questions
We have taken sometime to look into some of the common questions our clients ask.
Robbins and Moroney, P.A. has assisted many non-profit organizations obtain its tax-exempt status from the IRS. We guide you through the IRS application process from the beginning to the receipt of the IRS determination letter.
In order to maintain your tax exempt status with the IRS you should file a tax return on an annual basis. RMPA will guide you as to what form is required.
Audited financial statements provides the highest level of assurance on an organization's financial statements. The auditor expresses an opinion as to whether the financial statements are fairly stated in accordance with generally accepted accounting principles. A review provides limited assurance on an organization's financial statements. No opinion is issued. RMPA can assist you with deciding what is appropriate for your organization.
Every client's tax situation is unique. At RMPA we review your tax situation and make sure to account for all of the deductions you are entitled to. This is especially important in light of the new tax laws.
There are a variety of different entity types to choose from. We will review the different options and assist you in determining the right entity type for your needs based on your goals and maximizing tax savings.
There is no exact formula for determining salaries of S Corporation owners. We typically touch base with clients a couple of times per year to determine the profitability of your business in order to a recommend an appropriate salary.