Frequently Asked Questions
Find answers to common questions about our tax services, business formation, and legal policies.
Tax Filing Services
What documents do I need to file my taxes? +
Common documents include W-2s from all employers, 1099s for freelance or contract work (1099-NEC), interest statements (1099-INT), previous year's tax return, valid photo ID, and Social Security cards for you and any dependents. Our smart document center will create a personalized checklist for you.
How long does it take to get my refund? +
If you e-file and choose direct deposit, the IRS typically issues refunds within 21 days. Returns claiming the Earned Income Tax Credit (EIC) or Additional Child Tax Credit (ACTC) may face delays until mid-February due to the PATH Act. You can check your status anytime using our portal.
What is the difference between a W-2 and a 1099? +
A W-2 is for employees; taxes are withheld by the employer throughout the year. A 1099 (like 1099-NEC) is for independent contractors; no taxes are withheld, meaning you are responsible for paying self-employment tax (Social Security and Medicare) and income tax on those earnings.
Can you help me amend a previous tax return? +
Yes! If you made a mistake, missed a deduction, or forgot to report income on a past return, we can file a Form 1040-X to amend it. You generally have up to three years from the original filing deadline to claim a refund.
Are you available if I get audited by the IRS? +
Absolutely. All returns prepared by Money Flow Financial Services include audit support. We will review the IRS notice with you, explain what it means, and help you gather the necessary documentation to respond. Full audit representation is also available.
Business Formation & Services
What are the benefits of forming an LLC? +
An LLC (Limited Liability Company) protects your personal assets (like your home and savings) from business debts and lawsuits. It also offers tax flexibility—you can choose to be taxed as a sole proprietor, partnership, or S-Corporation depending on what saves you the most money.
Do I need an EIN? +
An Employer Identification Number (EIN) is a federal tax ID for your business. It is required if you plan to hire employees, open a business bank account, or operate as a corporation/partnership. Even as a sole proprietor, an EIN helps protect your Social Security Number.
What bookkeeping services do you offer? +
We offer comprehensive bookkeeping including expense categorization, income tracking, monthly/quarterly financial summaries, and tax-ready reporting. This ensures you maximize your deductions and are perfectly prepared when tax season arrives.
Legal & Protections
Data Privacy & Security
At Money Flow Financial Services LLC, your data security is our highest priority. All personal and financial information submitted through our portal is encrypted using AES-256 bank-level encryption both in transit and at rest.
We do not sell, rent, or trade your personal information to third parties. Your data is strictly used for the preparation and filing of your taxes or requested business services.
Tax Preparer Disclosure & Disclaimer
Money Flow Financial Services LLC employs registered tax return preparers who hold valid Preparer Tax Identification Numbers (PTINs) as required by the Internal Revenue Service (IRS).
While we strive for 100% accuracy based on the information provided to us, the final responsibility for the accuracy of a tax return rests with the taxpayer. We do not provide legal or investment advice.
Refund Policy
Preparation fees are based on the complexity of the return and are agreed upon before filing. Fees are for the service of preparation and are non-refundable once the return has been completed and accepted by the IRS or state tax authority.
If an error is made on our part that results in penalties or interest, we will reimburse those specific penalty/interest charges (limitations apply). We do not reimburse the actual tax liability.
Terms of Service
By using the Money Flow client portal, you agree to provide accurate and complete information for the preparation of your tax returns. You must review your completed return before electronically signing (Form 8879) to authorize us to e-file on your behalf.