Resources
We’ve Got You Covered
We’ve gathered our favorite links to help make your financial life a little easier. You’ll also find answers to common questions we hear from clients—because understanding your money shouldn’t be complicated.
Whether you’re a business owner, a freelancer, or just trying to stay on top of your taxes, this page has you covered.
Got Questions? We’ve Got Answers!
Whether you’re tackling taxes, starting a business, or just trying to make sense of the numbers — you’re not alone. We’ve put together answers to the questions our clients ask us most, all in one place. Let’s make things simpler, together.
BWCO Related
Do Not Delete
Do I really need a CPA?
We think you do! 95% of the people we talk to probably benefit from having a trusted CPA in their corner.
Every tax return and person/family/business behind the return is unique, with situations and circumstances all their own. With tax laws changing every year, it can be difficult to know all the rules that apply to your situation. A CPA can help navigate and explain these changes and how they impact you, prepare and file accurate tax returns using professional tax software, and assist in planning future strategies to lessen the financial impact of the law changes where possible.
Why do I have to fill out a tax questionnaire every year?
Whether minor or major, changes in your life and the IRS tax code are inevitable. We created our questionnaires to help us identify missing items early on in our process. By completing the questionnaire, you save us time and it saves you money when potential changes are identified upfront in the process.
What is the average time it takes to process a tax return?
Truth is that tax returns can be simple or complex. Also, we are human, and life happens. Our turn-around time is dependent on the complexity, completeness, and timely receipt of tax documents. We try to set reasonable turn-around expectations when you send documents to us; however, we also have families and require sleep, so we may get to a point where we ask you to consider filing an extension.
When can I have a tax document burning party?
Don’t get the pyrotechnics out just yet! Many requirements span 7 years, some longer, some shorter. To get the skinny before you light it up, give us a call so we can determine the actual party date.
Why are you recommending I send all documents electronically?
We as a firm have made the strategic decision to eventually be a completely virtual office. The roadmap to getting us to that point requires that clients start to become familiar and comfortable with the security tools we are now utilizing.
Receiving documents in an electronic format can greatly increase our efficiency. The most important factor to remember is that sending electronically must also be secure! We have several different tools available to clients to help facilitate a secure and streamlined transfer system for documents. See our resource list above.
Why does it seem like your website always looks different?
At BWCO CPAs, we believe in lifelong journeys, including creative ones. We want to differentiate our firm from others in the field and like to stretch our creative muscles by changing how our website looks and feels at least once a year. We enjoy staying up to date with the latest trends in web design, and speaking of which, check out our AI-generated profile pictures on our Team page! Maybe we are crazy, but we absolutely love the creative outlet the design changes allow us!
IRS Related
Do Not Delete
I received a suspicious call from the IRS or social security administration telling me I owe them money, or I am going to jail. Is this for real?
These types of calls are definitely scams! The IRS and SSA will NEVER call you without your initiation first. Do not give out any personal data and hang up immediately if you receive a call. Read more about these scams at the IRS Tax Scams Consumer Alerts page, and the Social Security Administration Fraud FAQs page.
How long will it take for me to get my income tax refund?
The IRS has a handy tool called “Where’s My Refund” that can give you a real-time answer. All you’ll need is your social security number, your tax filing status, and the exact amount of the refund you are expecting. Go to the IRS Refunds page.
Please note that we are seeing a longer turn-around on refunds due to Stimulus Payment matching and calculations, as well as reduced staffing and capacity at the IRS. Continue to check the refund tool, and know that you may see a status of “Return is being processed” for several weeks to months.
How can I find out how much social security income I received over the past year?
How many tax deadlines are there?
A lot! Contrary to popular belief, there are many more tax deadlines than just April 15. While the April deadline is the most famous, every deadline is equally important to the IRS and multiple state agencies. If you really want all the details, give us a call and we’ll give you an exciting laundry list of deadlines.
Does filing an extension mean that I don’t have to pay my taxes until October?
Nope! This is a common misconception. An extension gives you 6 extra months to file your tax return, only. If you owe tax, you must pay your tax due by the initial deadline of April 15. If payment is made after that date, the IRS will add penalties and interest to the amount owed. We can help with extension estimates; you just have to let us know you think you might owe tax!
I’ve just found out that I’m coming into an inheritance, what should I do with respect to taxes?
Our condolences. The amount and type of inheritance you receive could greatly affect your tax return for that year and future years. A CPA, along with a financial adviser, and possibly an attorney, can help guide you towards making smart tax and financial decisions for your situation, especially when you are the recipient of an unexpected windfall.
Our Technology
At BWCO, we embrace the convenience and flexibility of cloud technology — but when it comes to protecting your information, our feet are firmly on the ground. We’re committed to providing secure, private, and easy-to-use ways for you to manage your business and personal tax and accounting data.
From the moment your information enters our systems, security is built into every step. Our team follows strict internal processes and uses trusted tools designed to keep your data safe. We take this responsibility seriously, ensuring that everyone at BWCO prioritizes your privacy as part of our daily work.
Plus, we comply fully with IRS best practices for data security, giving you peace of mind that your sensitive information is handled with the highest standards in the industry. With BWCO, you get the best of both worlds — modern technology and rock-solid security.
Karbon
Client Collaboration Tool
Karbon is our go-to system for staying organized, connected, and on top of your accounting needs. It helps us manage client communication, tasks, and workflows all in one place—so nothing falls through the cracks. With Karbon, our team stays aligned and you get a smoother, more responsive experience every step of the way.
QuickBooks
Accounting & Payroll
QuickBooks is a powerful, all-in-one accounting and payroll solution that streamlines financial management for CPA firms and their clients. With real-time access to transactions, seamless bank integrations, automated payroll processing, and customizable reporting, QuickBooks helps firms save time, reduce errors, and stay compliant—making it easier to focus on strategic advisory and client growth.
Gusto
Payroll
Gusto makes payroll simple and stress-free. From paying your team to managing taxes and benefits, it handles the heavy lifting so you don’t have to. We recommend Gusto because it’s easy to use, reliable, and keeps everything compliant — helping your business run smoothly and your employees happy.
Stay Ahead with Key Tax Deadlines
September
15 – S Corp and Partnership extended tax returns due
15 – Q3 Estimated Tax Payment due
30 – Estate/Trust extended tax returns due
October
31 – Q3 Payroll Reports due
November
15 – Extended Franchise Tax Reports due
Client Favorites
Simplify your tax journey with convenient online tools. Check out the helpful links below!
Access your individual account information including balance, payments, tax records and more.
Summary table for optional standard mileage rates for employees, self-employed individuals, or other taxpayers.
You can check the status of your 2023 income tax refund 24 hours after e-filing
The Interactive Tax Assistant (ITA) tool provides answers to several tax law questions specific to your individual circumstances.
The IRS accepts full and partial payments, including payments toward a payment plan.
Use this tool to estimate the federal income tax you want your employer to withhold from your paycheck.