Enrolled Agent (EA) status is the highest credential awarded by the Internal Revenue Service (IRS). EA's are federally authorized tax practitioners empowered by the US Department of the Treasury to have unlimited practice rights. This means we are unrestricted as to what tax matters we can handle, which taxpayers we represent, and we can represent clients in all 50 states. To become an EA requires passing a three (3) part Special Enrollment Exam (SEE) or five (5) years of work with the IRS. We must adhere to ethical standards, pass a background check, and are required to have full tax compliance. Additionally, we are required to take continuing education to maintain our certification status.

EAs and CPAs are both professionals capable of assisting with tax preparation, tax appeals, and dealing with federal and state tax agencies and both can work with individuals and businesses. However, unless a CPA is also an EA, they are restricted to assisting with appeals and federal or tax agencies outside of their licensing state. The main difference between an EA and a CPA is their scope of work. EAs are primarily focused on tax-related issues while CPAs deal with a more broad host of financial areas including assurance and attestation services (compilation, reviews, and audit work) that EAs cannot perform. Deciding which professional to hire should not be solely based on credentials. Look for someone who will advocate for you, help explain tax matters, and leverage what they know to help you minimize your tax consequences.

Achieving this is simpler than you might think. Businesses can securely grant Paltrow & Co remote access to financial records and bookkeeping software (if online), allowing for seamless collaboration. With online accounting platforms and mobile apps, capturing supporting documents in real-time is fast and convenient. Meetings can easily be conducted via Zoom or Teams, and Paltrow & Co can even create instructional videos to guide clients through processes step-by-step.

Our monthly bookkeeping services start at $500 per month, with the final cost depending on the size and complexity of your business. After completing a detailed diagnostic review, we’ll provide you with a tailored recommendation for ongoing monthly services, along with a customized pricing plan. Tax preparation services are priced based on several factors, including: -The complexity of your tax situation -The level of organization in the information provided -The time and expertise required to prepare your return accurately -Any additional research needed for unique or uncommon scenarios Given these variables, pricing for tax preparation can vary significantly. For pricing on other services, please feel free to contact us directly. We’re happy to provide a quote based on your specific needs.