FAQs
Listed below are some of our most frequently asked questions from clients. If you do not see an answer to your question listed here, please go to our Contact Us page and e-mail your question to us and we will get an answer to you within two business days.
At what point in the calendar year should I start preparing for my tax return?
At Magellan Tax, we take a pro-active approach to tax planning, believing that you should review and plan for your tax return during the prior calendar year. We generally like to meet any time after you’ve had last year’s tax return prepared, but prior to the end of this year, so that we can make adjustments for this tax year if necessary.
In settling a loved one’s estate, I’ve been told that I have to file a final tax return for them. Is this true?
Yes. Generally the executor/trustee will file the decedent’s final income tax return. In addition, larger estates – those in excess of $1 Million – may also be required to file Form 706, which is the final tax return that is filed on behalf of a deceased’s estate.
How do I become a client and how much will it cost?
Our relationship with you begins with a simple review of your current tax return and a discussion of any changes or other variances that might alter last year’s tax situation significantly. After this meeting – or discussion – we can then provide a firm quote for your tax preparation. Tax planning and coordination with your attorney and financial planner are included in the quoted fee.
The first step is to simply call to schedule an appointment for a complimentary tax review consultation. It is best if we can review your tax return before your appointment, but it is certainly not necessary.To set up an appointment, please call Melissa at 404-257-8811 or e-mail melissa@magellanplanning.com
