Stephen Hearrell, CPA Fort Worth

Stephen Hearrell, CPA Fort Worth From basic bookkeeping to financial audits; from tax preparation to tax representation; Stephen Hearrell, CPA offers a range of services.

We offer a wide range of Accounting services:

Bookkeeping-- Our staff will pick up your records, complete data entry, and process payroll; in addition to preparing all state and federal reports. Furthermore, we will print monthly, quarterly, and annual financial statements for you to review. When the reports are delivered we will answer any questions you might have and explain any issues that ma

y arise. Our focus is on developing a long term relationship which will help you maximize your profitability. Tax Preparation-- Tax planning is rapidly becoming a necessity in order to grow a successful business. Our staff will pick up your records, process your tax returns to minimize your tax liability and deliver the completed returns to you. We also meet with you throughout the year to develop tax plans that will allow you to take advantage of current tax laws, minimize tax liability, and prepare for long term success. Tax Representation-- We have successfully represented clients before the IRS for many years. We have an extensive knowledge of IRS procedures and policies. In addition to experience, we have advanced education in tax law. We are authorized to practice before the IRS at every level from tax audits through tax court trials. Our goal is to protect your rights as a tax payer and to help you reach a resolution that is in your best interest. We do not offer gimmicks or unrealistic promises; instead, we provide realistic solutions tailored to your needs. Business Planning-- Business planning is the first step in developing a successful organization. We will help you design a business plan that is clear, concise, and based on real world data. We help you create market studies that provide a realistic estimate of future sales and related expenses, based proposed financial statements. We will develop a comprehensive business plan suitable for presentation to financiers and stakeholders. Finally, we help you by monitoring the results of implementation and recommend modifications to improve performance.

03/25/2023
09/22/2014

What to do when the IRS shows up at your door!

If you run a business and have employees there is a good likelihood that you will eventually receive a visit from an agent of the Internal Revenue Service. This can be a very frightening experience made worse by the fact that some agents attempt to intimidate business owners. You have rights and the following steps will help protect your rights as a taxpayer and a citizen.

1. Remain calm – Sometimes IRS agents will show up at a small business location and will flash their badge and speak loudly so that customers and/or employees hear them. Many small business owners are frightened and will do whatever the agent asked without question. Do not be intimidated, remain calm and ask the agent to speak in private.

2. Ask the agent for a written request for whatever information he is there to collect. Most of the time whenever an agent shows up, it is because there are one or more reports or returns that have not been received by the IRS.

3. Do not tell the agent anything that is not true. Simply tell the agent that you will need to meet with your representative before you can fulfill his request. Assure him that you will give this matter the attention that it deserves and that you or your representative will be in contact; if the agent persists ask him to please leave, be courteous but firm.

4. Seek competent professional representation. The fact that the IRS has made a trip to your business location is evidence that the matter is serious enough to require professional help. Certified Public Accountants, Tax Attorneys and Enrolled Agents have the ability to represent you before the IRS. Seek one that has experience working with the IRS to resolve tax issues.

5. Provide your representative all the relevant information, heed their advice and relax. IRS issues can be resolved in a manner that does not ruin your business, no matter how serious they appear at the outset.

09/19/2014

Friday Humor!

A wealthy woman with a serious tax issue decided to hire professional help. She called three professionals to come in for an interview. She asked all three the simple math question, what is 2 plus 2. The first applicant was an attorney who thought her inquiry must be a trick question. Attempting to be clever, he responded that 2 plus 2 equals the square root of 16. The second applicant, who was an enrolled agent, also thought there must be a trick so he responded that 2 plus 2 equals 2 squared. After hearing the question, the third applicant, who was a CPA, got up from his seat walked over and closed the office door. He then came back, looked the employer in the eye with a serious expression and asked; what would you like it to be?

Hire a good CPA for tax matters!

09/17/2014

What if you just can't pay your taxes?

Settling with the IRS for less than what you owe is called "Offer in Compromise" (OIC). In May 2012, the IRS made several changes to its OIC program that has made it better for many taxpayers. However, the IRS can change debt settlement programs at any time, so if you think an OIC is something you want to pursue, you should not wait. The IRS can be frustrating to deal with and can be very aggressive in reviewing your offer. Proper planning and an experienced tax professional can help keep the IRS in check, but don't wait too long. Call me today!

09/16/2014

And you think our tax laws are bad!

Studies have shown that the methane released due to cows digesting greens contributes 18% of Europe's green house gasses. In order to curb the cow flatulence epidemic, several EU countries have adopted taxes on each cow. The highest rate is in Denmark, where each cow will cost you up to $110 US dollars annually.

09/15/2014

Finally, some good news from the IRS.
The IRS recently released data that showed the Offer In Compromise acceptance rate reached 41.8% last year. This represents am 11.7% increase in the acceptance rate from 2012 an a 94.83% increase in the rate from 2009. If you owe tax and are unable to pay, contact me. I can help.

09/12/2014

Taxes are a big deal—especially for small business owners.

Plan now to manage your tax liability!
09/12/2014

Plan now to manage your tax liability!

Businesses will need to start preparing for tax season in just a few short months. Here are the major issues every small business owner should be watching.

An actual letter from the IRS, sometimes they do accept excuses but don't count on it!
09/11/2014

An actual letter from the IRS, sometimes they do accept excuses but don't count on it!

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Sherman, TX
75092

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