Helpful Questions To Ask About Your Tax Return

Why might it be difficult to handle your own tax returns? Unfortunately, the tax return filing process can be tedious. Most people are not up to date on current tax laws and changes each year and it’s hard to know how to claim certain types of income/expenses in accordance with those laws. Also, what is expensable? How do you know? There’s a lot of information to keep track of! To top it off, getting ahold of the IRS to answer questions can be extremely difficult. Bottom Line Bookkeeping, on the other hand, is much easier to reach. We would be happy to answer any questions you may have about your return. 

What are helpful questions to ask? 

If you don’t even know what you don’t know and aren’t sure what to ask, you’re not alone. Listed below are some common questions about tax returns that we receive on a regular basis. Feel free to use this list as a guide for your own research, or give us a call and we would be happy to help answer these questions for you!

  • What should my filing status be? Single? Head of Household?
  • Is it better to file Married filing Separately or Married filing Jointly?
  • How quickly will I get my refund?
  • Does filing an extension have any negative effect on the IRS’s processing of my tax return?
  • What is the deadline for getting my taxes paid?
  • Can I set up a payment plan?
  • Are there any credits that I qualify for?

Filing your tax return can be confusing, but it doesn’t have to be. We’re here to help. 

Looking for help with your Tax Return in College Station? Call Bottom Line Bookkeeping!

Why A Bookkeeping or Tax Service May Be Right For You

Tax Professionals, Bookkeepers, an Enrolled Agent

Even the most organized business owners can still get overwhelmed by the stacks of receipts, bank reconciliations, bill payments and other tedious tasks that come with running your own business. If managing the meticulous details is eating up your time, a bookkeeping or tax service may be exactly what you need! The benefits include custom, convenient, and credentialed service.


One of the best things about bookkeeping services is that you can hire out as much or as little help as you need. You won’t be paying for any services you won’t use. Just need a payroll clerk? Only looking for a tax preparer? You can hire out just those specific services, or you can pay a bookkeeper to be your fully outsourced accounting department. When you fully customize the services to fit your needs, you’ll be hiring an asset- not a liability. 


With many bookkeeping services, one office can handle all the services you would need in a single location. There’s no need to complicate your business even further by juggling phone numbers, emails, and invoices from a wide variety of vendors. Bottom Line Bookkeeping, for example, offers bookkeeping, payroll, corporate taxes, business taxes, and more under just one roof. Plus, they’ll serve as a helpful resource that you can access year-round when you have questions about tax planning or anything regarding your books. One phone number, one email. It couldn’t be more convenient.


The administrative and financial aspects of your businesses are not to be taken lightly. You want your books handled correctly and your paychecks to go out on time, every time. With a bookkeeping service, you can trust that no deadlines will be missed and that your filings will be done in a timely manner. When you hire a professional, you’re hiring years of expertise on everchanging tax guidelines and policies. You can work with confidence knowing your books and/or taxes are being handled with accuracy and precision by experts. 

A positive experience with your bookkeeping or taxes is not too good to be true.

Bottom Line Bookkeeping: A Tax Preparation Service Near You

How Do Tax Services Work? 

Have you been considering paying for a tax service? Hiring a professional to help prepare your taxes is a great way to get peace of mind as well as save valuable time and money. Here are a few common questions we receive about the tax preparation process: 

How do I begin? 

When you decide you want to work with a professional tax preparer, we make it as easy for you as possible for you to get started. You have the option of either dropping tax documents off at our office, scheduling an appointment, or submitting tax documents electronically via email, Dropbox, Google Shared files, etc. 

How quickly can my taxes be filed?

The speed at which your return is filed depends on the method you choose to provide us with your documents. For clients who come in for an appointment, we are often able to complete and e-file a return all that same day unless we are missing some documentation. For clients who drop documents off, returns are processed in the order in which the documents were received. Once your return is done, we will contact you to let you know that your return is ready for your review and signatures. Once a return is signed and e-filed, we will mail out the Acknowledgement from the IRS stating that they received and accepted your return.

How do I know that my information/paperwork is safe? 

It can be difficult to hand over documents that contain confidential financial information, so we take extra precautions to make sure that your information is safe and your documents are kept in order. All documentation provided to us by our clients is scanned into our secure internal server. All tax returns are also saved electronically so we can deliver either a hard copy or a digital copy to clients upon request. You can trust that your information will be safe with us and that your documents will be properly taken care of. 

Why should I hire a tax preparer? 

Hiring a tax preparer comes with a host of benefits! We are able to electronically file returns, schedule payments to the IRS, and set up Direct Deposit for those who prefer that over a paper mailed refund from the IRS. When you hire a professional to handle your taxes, you can trust that your return will be filed accurately and in accordance with Federal and State guidelines. Instead of worrying about keeping track of all of the rules and regulations, you can focus on things that you enjoy and trust that everything will be filed correctly. By using a local tax office like Bottom Line Bookkeeping, you also get the benefit of building a relationship with the people in our office. The same individuals who know you and have worked with you before will be filing your returns year after year and guiding you along the way. Simply bring us your paperwork, and we’ll do the rest! 

Employee Payroll Services in Bryan Texas

Calculating payroll for your company can be complicated, time-consuming, and difficult. Did you know that you have the option to hire someone to do all of that work for you? It’s called a payroll service.

Why is a payroll service beneficial?

When you pay for a payroll service, you can trust that your payroll will be prepared accurately by a professional and in accordance with Federal and State guidelines. Your payroll will be delivered in a timely manner, so you won’t need to worry about proper timing or filing deadlines. While professionals you can trust are running the numbers, you can stay focused on running your business. Why do the mundane and monotonous tasks of running payroll when you could be diving deeper into your passion or specialization?

How do payroll services work?

At Bottom Line Bookkeeping, getting started with our payroll service is easy. Simply provide us with the employee hours worked, employee salaries, and hourly wages and we’ll calculate the federal unemployment, state unemployment, social security and medicare for you. We can print checks for employers or set you up with a direct deposit system for a true set-it-and-forget-it process. We file all quarterly payroll taxes for payroll clients (the 941, TWC, and the annual 940), and we’ll prepare a copy for your records so you’ll have everything you need at the end of the year when it comes time to file W-2s and 1099s. We’re located in Bryan, Texas right on Texas Avenue, so stopping by to pick up checks or speak with your payroll preparer is quick and simple.

Why Bottom Line Bookkeeping?

We have been preparing payroll for our clients in the Bryan area for over 20 years. We currently have over 55 payroll clients that we process payroll for either weekly, bi-weekly, semi-monthly or monthly. Let us take care of the paperwork so you can get back to running your business!

Looking for employee payroll services in Bryan, Texas?

Do accounting firms save you money?

The decision of whether or not to outsource the financial responsibilities of your business can be a difficult one to make. Business owners often get caught up in the decision, wondering if it’s worth it to pay more to get their books in order rather than do it internally. Do accounting firms really save you money? Is it worth the investment? Every situation is different, but the answer is almost always YES. 

Accounting firms save you money when you use the appropriate services with the right firm

Saving Money As A Business

When you hire an accounting firm or bookkeeper as a business, you free up significant time as a business owner to invest in your business growth and increasing revenue. This is the easiest place to identify where an accounting firm saves your business money! Instead of spending hours on bookkeeping, you can develop your company and spend time doing the things you’re truly passionate about in your business. Knowing that your books are accurate and up to date throughout the year will also provide business leaders with priceless peace of mind. Having up-to-date and accurate books is essential throughout the course of the year, especially as new grants become available. Correct books are also essential in the process of applying for business loans and even applying for personal loans and home purchases.

Saving Money As An Individual

Hiring an accounting firm is not just beneficial for businesses, though. As an individual, using an accounting firm or professional tax preparer to file your taxes comes with numerous benefits. Your personal finances can be complicated as well, and hiring a professional to manage your books for you will save you time, stress, and possibly money by preventing costly errors that could result in penalties. Professional tax preparers are also more aware of credits and/or deductions that you might qualify for on your tax return, and they can maximize your return accordingly. 

Unfortunately, not just any firm provides these kinds of benefits. You want experienced professionals with the correct credentials to manage your finances and ultimately save you money. 

At Bottom Line Bookkeeping, our team is equipped to do just that.

Benefits Of Using A Professional Tax Preparer

Tax preparation is one of the highest sources of stress that business owners and financial managers face. It can be complex, with small rules and requirements that change from year to year. How do you know that you have everything in order and all of the correct boxes checked? One way is to hire a professional tax preparer

Tax Laws Are Complicated- Hiring Us Is Not

Tax laws are very complicated and constantly changing. It can be difficult to keep up with the latest adjustments in requirements, but using a professional provides assurance that your tax return is correct. They simplify the entire filing process from beginning to end. Preparing a tax return yourself can take a lot of time and unnecessary stress, but using a professional is much more efficient and less stressful. The less time you spend thinking about your return, the more you can spend developing your business.

Hiring A Professional Can Save You Money

There are multiple ways that hiring a tax professional can save you and your business money. The professional helping file your return will ensure that your tax return is accurate, limiting penalties that could arise from errors on a return. Along with lowering your risk for fees, a tax professional will also be able to identify the tax credits and deductions that you might qualify for and increase your tax refund. Ultimately, working with a professional can save you and your business both time and money.

Look For Proper Credentials

One more thing to consider when hiring a tax preparer has to do with credentials. Tax preparers can have many different types of credentials, and often with those credentials come different levels of experience and knowledge. It is always a good idea to make sure that the tax preparer you are using is qualified and has the desired level of credentials. The higher the credentials, the more dependable the service. 

Looking for a tax preparer? Call Bottomline Bookkeeping


Payroll can be one of the most complicated parts of running a business, which is why many businesses opt to use a payroll service. So what exactly are the benefits of using a payroll service? 

  1. Save Valuable Time

Preparing payroll can be a very time-consuming process for most business owners. The time spent on preparing payroll is time that you could be spending on your business producing revenue. With a payroll service, the only time taken away from your business is the time it takes to submit the current payroll details. When they hire someone else to manage payroll, business owners can devote more time to their specialty.

  1. Ensure Accuracy

Calculating payroll can be complex due to changing rates and tax thresholds. When you hire a professional with a payroll service, they are fully aware of these changes and fluctuations and will take them into account when preparing your payroll. Outsourcing your payroll in this way ensures accuracy and offers peace of mind to business owners.

  1. Successful Tax Compliance

In the same way that preparing payroll can be complicated from an accuracy standpoint, it can also be very difficult to make sure you have all of the details in order for proper compliance. A quality payroll service will ensure all of your reporting deadlines are met and that the required tax deposits are made to the IRS and to the Texas Workforce Commission. With a payroll service, you can rest assured that the details will be accounted for and everyone will go home with a paycheck at the end of each pay period. 

Have any questions about payroll services? Give us a call. 

Reasons you should hire a tax professional in 2022

Now that 2022 is upon us, tax season is just around the corner. Thinking about the looming tax deadlines doesn’t necessarily make you feel warm and fuzzy inside, and we get it. Have you thought about seeking out tax help

There really are lots of great reasons why it would be beneficial for you to hire a tax professional

Big Changes in 2021

As you probably know, filing your own taxes can be a lengthy and confusing process. Tax laws can change from year to year, and it’s easy to miss the small details while shuffling through all of your paperwork and torn open envelopes. Also, big life changes like buying a home, getting married, or starting a business will all impact your tax return in different and often unexpected ways. Hiring a professional to help you with your taxes helps keep the whole process simple, organized, and easy. 

Save time and money

According to the IRS, the average American takes 11 hours to prepare their tax return. Think of all the other things you could be doing with those hours! Hiring a professional to file your tax return for you frees you from that burden. They are able to complete your taxes often much more quickly and efficiently than you would be able to do yourself. 

No one wants to miss a deduction or trigger an IRS letter or audit, right? Hiring a professional can help ensure that you avoid errors and receive the most on your returns. On top of that, you save yourself lots of time and stress knowing that everything is being filed by someone who is trained to handle your taxes.

You Started a business in 2021

Did you start a business this year? A tax professional can help walk you through how to file taxes with and for a business. They can help you determine what write-offs and deductions apply to you so you can save as much money as possible in the early stages of your venture. As a business, outsourced bookkeeping is also a great way to help you stay organized. You can also trust that everything will be filed accurately and precisely. That means no double and then triple-checking your work, or stressing over the small details and fine print. Filing mistakes can be costly, especially for businesses, so you want to make sure you get it right the first time both with your taxes and your books.

Have Questions about Filing?

If you have a question about filing your taxes, it may seem natural to look up your tax questions online. This can be a problem, though, because oftentimes the information you may find on the internet is outdated or simply incorrect. When you hire a tax professional, you are gaining access to someone who can answer your questions quickly and accurately. When issues arise with filing your taxes or keeping your books, you can rest assured that you have someone to seek for help who can resolve them. 

Additionally, a professional will know how to interact with the IRS easily and professionally if any problems were to come about from your filing. No one wants to face an audit alone. With professional tax help, you will be hiring an advocate as well as an advisor. 

If you are looking for a simple, more efficient, less stressful tax filing experience this year, you know what to do! Contact us today. We’re ready to make things easier on you. 

Do I claim my child as dependent or independent

Are you having a hard time deciding whether or not to claim your adult child as a dependent on your tax return? Here’s some helpful information about claiming a dependent that can help you decide.

When it comes to filing your taxes, claiming your child as a dependent can be beneficial in many ways. According to the IRS, your adult son or daughter may qualify to be claimed as a dependent if he or she is younger than 19 at the end of the year and lived with you (the taxpayer) for more than half the year, if he or she was a student younger than 24, or if he or she is permanently and totally disabled. You cannot claim a child as a dependent if they are not a U.S. citizen, if someone else has claimed them as a dependent, or if they are filing jointly with someone else (e.g. a married adult son). 

When an adult child is considered dependant

If your child is a full-time student, you can claim them as a dependent on your tax return until they turn 24. By having a qualifying child as a dependent you could qualify for valuable credits that lower your tax liability as well as a number of refundable tax credits. If your adult child is not a student, you may still be able to claim them as a Qualifying Relative Dependent.  

When a child is considered independent

If your adult child is 19 years old at the end of a tax year, not a student, not permanently and totally disabled, and earns over $4,300 (in 2021) then they are considered independent. 

Everyone’s situation is unique, and there is no right or wrong approach when it comes to deciding to file your adult child as a dependent. It may seem confusing, but we’re here to help!

Have questions about filing your taxes? Call us to book a Consultation.

What is Capital Gains Tax?

If you have held and sold any investments in the last fiscal year, the IRS is going to tax your profits. This is called a Capital Gains Tax. Capital gains tax is a tax on the profit from an investment that is incurred when that investment is sold. When stock shares or any other taxable assets are sold, the capital gains (or “profits”) are said to have been “realized.”

The tax doesn’t apply to unsold investments because they are unrealized, so stock shares will not incur taxes until they are sold, no matter how long the shares are held or how much they increase in value.

Long-term capital gains tax

Under current federal tax policy, the capital gains tax rate only applies to profits from the sale of assets that were held for more than a year, which are called “long-term capital gains.” The rates can be 0%, 15%, or 20%, depending on the taxpayer’s tax bracket for that year.

Short-term capital gains tax

Short-term capital gains tax, on the other hand, only applies to assets held for a year or less. These short-term capital gains are taxed as ordinary income. One thing to consider is that, for most taxpayers, the tax rate for ordinary income is often higher than the capital gains rate. As a result, it is often more profitable to hold investments for at least a year before selling.

In summary- Capital gains tax is only due after the investment has been sold, and only applies to “capital assets,” which include stocks, bonds, jewelry, coin collections, and real estate. For most taxpayers, the tax rate for long-term gains is lower than the rate for short-term gains. 

Have questions about your taxes? Give us a call or schedule a consultation by clicking the button below!