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Yes. Lawhorn CPA Group provides individual tax services.

Yes. Plus, Lawhorn CPA Group offers a wide range of personalized individual services which go beyond traditional tax preparation. We can provide Federal and state tax return preparation, tax planning, retirement and financial planning, estate planning, and audit and tax notice resolution.

Generally, once a tax return has been efiled and accepted, the IRS will issue a refund in less than 21 days. In many cases, taxpayers see their refund in less time. However, if you had to file your tax return on paper, it could take long to process your tax return and, therefore, will take longer to receive your refund. The IRS has an online tool called “Where’s My Refund?”  which allows taxpayers to track their refunds once their return is in their system.

If you owe money with your Federal tax return, the IRS offers several payment options to those who qualify, including long-term and short-term payment plans. If you need a long-term payment plan, Lawhorn CPA Group can help you set up an installment agreement with the IRS. Keep in mind, there are setup fees and potential penalties and interest associated with an IRS payment plan.

Lawhorn CPA Group works with business clients from a wide variety of industries, backgrounds, and locations. Our business clients range from small start-ups to medium-to-enterprise companies.

One of our core principles is unlimited communication. Whether over the phone, through teleconferencing, via email, or in person, an experienced accountant is always standing by to assist you with your business needs. Contact us today if you have questions or need assistance.

Determining the right business structure and entity type for your business can be difficult and involves strategic considerations. Because of the long-term financial and personal implications in setting up your business entity, you should seek the advice of an accountant or CPA before forming a business. Our guide on how to choose the correct business entity can give you some insights into which might be best for your situation. Contact us today to set an appointment to speak with an expert in entity setup.

Self-employed individuals do not receive a W-2 and, therefore, do not have taxes regularly deducted from their income. It is up to the self-employed individual to calculate what their income is and pay estimated tax on a quarterly basis. When filing your individual tax return, self-employment income/loss is calculated on Schedule C and then used on Schedule SE to calculate the amount of self-employment tax that should have been paid throughout the year. Self-employed individuals generally must pay self-employment tax (which covers Social Security and Medicare tax) as well as income tax. We recommend self-employed taxpayers work with an accountant who can help with tax-saving strategies, quarterly tax payment estimations, and filing tax returns.

When figuring self-employment tax you owe, you get to reduce self-employment income by half of the self-employment tax before applying the tax rate. Self-employed filers can reduce their tax liability further by taking advantage of other tax deductions and benefits. Some of the more common deductions include mileage or vehicle expenses, home office expenses, utilities expenses and supplies.  Contact us today to find out what tax deductions can work for you.

If you owe money with your Federal tax return, the IRS offers several payment options to those who qualify, including long-term and short-term payment plans. If you qualify for a payment plan with the IRS, you can make your series of monthly payments in various methods, including:

• Direct debit from your bank account
• Payroll deduction from your employer
• Payment by EFTPS
• Payment by credit card via phone or Internet
• Payment via check or money order
• Pay with cash at a retail partner

If you need a long-term payment plan, Lawhorn CPA Group can help you set up an installment agreement with the IRS. Keep in mind, there are setup fees and potential penalties and interest associated with an IRS payment plan.

The three basic tax forms for individuals are Form 1040EZ, 1040A, or 1040. Form 1040EZ is the simplest tax form and generally can be used when there are no dependents, no deductions to itemize, and taxable income is under $100,000. Using Form 1040A, the taxpayer can take certain tax breaks but is limited on certain tax credits and allowable deductions. Taxable income must still be under $100,000 but can include interest income and dividends among other things. If your income is greater than $100,000, you’ll fall into the category of those who file Form 1040. This form is more complex than the other two and will have the most options for you in the way of tax credits and deductions. Taxpayers with a more complicated tax situation will need to submit additional forms, called schedules, to calculate certain types of income or deductions that are then transferred to Form 1040. Contact Lawhorn CPA Group today to find out which tax forms your personal or business situation requires.

If your address has changed, you need to notify the IRS to ensure you receive any tax refunds or IRS correspondence. If your address has changed late in the year, you may consider waiting until you file your next tax return. Once your return is filed with your new address, the IRS will update its system. If you have moved in the middle of the year after filing your tax return, you can complete Form 8822, Change of Address, and mail it to the IRS. Contact us today for help filling out a Form 8822 and/or Form 8822-B.

Some of the most common tax credits include:

• Earned Income Tax Credit
• American Opportunity Tax Credit
• Child and Dependent Care Credit
• Savers Tax Credit

Contact an accountant at Lawhorn CPA Group now to learn how you can maximize deductions and tax credits to reduce your tax liability while avoiding potential costly mistakes.

The essential difference between deduction and credit is that a credit directly decreases the amount of tax you owe, while a deduction lowers your overall amount of taxable income.

Yes. Lawhorn CPA Group has experience employing business intelligence (BI) to provide the reporting and analysis needed to help businesses save money, increase operational efficiency and productivity, and predict success. Employing BI into your business operations provides you with the tools to make smarter, data-driven decisions.

Lawhorn CPA Group has used value-based pricing to charge for our services for over a decade for our accounting, financial, tax, and business services. Value-based pricing allows us to put ourselves in your shoes to determine the value our team and expertise means for you and your business. It removes the pressure of the traditional billable hour so that we are focused on the work we do for you and the results we can provide. Contact us for more information.

Lawhorn CPA Group offers three quick and easy online payment options.
• Monthly Installments
• Electronic Funds Transfer
• Credit Card
Alternatively, you can mail your payment to or make payments in person at any one of our office locations. Please contact infocpa@lawhorncpa.com with additional questions.

Teamwork is vital to our culture and the ability to service the needs of our clients. Our staff works together to complete client work on time. Additionally, with unlimited communication, we offer you the ability to contact any one of our team of accountants to discuss your business or individual tax issues.