General
Why do I need a CPA Firm?
A CPA (Certified Public Accountant) Firm offers expertise and services that go beyond basic bookkeeping and tax preparation, making them valuable for businesses and individuals with complex financial situations. They provide strategic financial guidance, ensure regulatory compliance, and can free up valuable time for business owners to focus on core operations.
How can Hagen CPA help me?
Hagen CPA prepares taxes & financial statements both for individuals and for businesses – we ensure that the taxes and reports that we provide to you are up to date with IRS and AICPA standards. Our Services Page can also help you understand how we can help you.
Taxes
The IRS called me stating that I owe money. What do I do?
THIS IS PROBABLY A SCAM! The IRS will not call you unless you contact them first. You will always receive a letter from the IRS first listing any issues or questions they have.
I received a letter from the IRS or from my state that says I owe more taxes? What should I do?
Bring in your notice to one of Hagen CPA’s office locations and we can help you understand the notice and advise you on what you need to do.
I cannot pay my taxes by April 15! Is there any way to avoid interest or penalties?
The IRS and most states allow for an installment plan when filing your tax return, bring in your tax information to one of Hagen CPA’s office locations and we can discuss your options with you.
Can I file an extension and pay my taxes later?
Filing an extension will give you an additional six months to file your federal income tax return, but it’s important to understand that this does not extend the time to pay any taxes you owe. If you owe taxes on your return, we can help you estimate your taxes so that you can pay the estimate when we file your extension. If you need to set up an installment plan, we can file it with your extension.
If I file an extension, how long do I have to file my taxes?
For your individual 1040 tax return, the extension gives you a 6-month time frame to file your taxes. Please see Federal Tax Return Due Dates for other return types and their due dates and extension dates.
How much does it cost to prepare my taxes?
Please give our office a call at 608-754-8525 to receive a FREE tax estimate.
Business Owners
My business is doing much better this year, but how will it affect my taxes?
Tax laws are complex and change frequently. Hagen CPA offers tax planning, where we can sit down with you to discuss your specific business situation and develop a personalized tax strategy that minimizes tax, maximizes savings, and ensures compliance.
Do I need to collect Sales Taxes, and do I owe Sales Taxes?
Each state has specific rules and regulations regarding sales tax, which can be complex and subject to change. Hagen CPA can research your business and your products or services to ensure you are correctly collecting and paying Sales or Use Taxes – this will help ensure compliance and avoid potential issues.
When do I need to start withholding taxes for an employee?
Generally, employers are required to begin withholding taxes for a new employee on their first day of work. Depending on your location, you may also need to withhold state and local income taxes, as well as potentially state disability insurance taxes. Please give Hagen CPA a call at 608-754-8525 to have your payroll questions answered.
What forms do I need when I hire a new employee?
Click here to download our new hire forms.
Other FAQ Resources
What is the difference between CPAs & EAs?
CPA (Certified Public Accountant)
- can perform Audits
- can represent clients with IRS and State
- are accredited and licensed with WICPA (Wisconsin Institute of Certified Public Accountants)
EA (Enrolled Agent)
- cannot perform audits
- can represent clients with IRS and State
- are accredited and licensed with the IRS