Search
  • Russ Falls

Introduction to Russ Falls

Russ Falls is a long-time resident of Palmdale CA. He went to school here and graduated from Palmdale High School. He first did income taxes for HR Blook for eight years then worked for Jackson Hewitt for the past 6 years. This coming tax season he made the choice to go into tax services business for himself.

He became an Enrolled Agent (EA) in July 2019. An enrolled agent is a person who has earned the privilege of representing taxpayers before the IRS. To become an enrolled agent a person must pass a three-part comprehensive IRS test. Part 1 individual returns, Part 2 Business returns, and Part 3 Representation, Practices and Procedures. An EA needs to have 72 hours of continuing education every three years.

Russ has done individual returns of all kinds: Itemized Deductions form Schedule A. Earned Income Tax Credit, Child Tax Credits, Child Dependent Care Credit, Rental property returns, Schedule C which is profit and loss for sole proprietorship, stocks and bonds.

His main goal is to treat every client as if he is doing the return for his own taxes and to maximize legal refunds

He is pleased to offer the Protection Plus to all his clients without any addition cost to the client. So, if there is ever an issue with any of the below items you will be able to get the issue solved:

1. Access to Experienced Tax Professionals

2. Id Theft Assistance

3. Interpretation and Guidance

4. Tax Debt Relief


He is also offering a bank product called Refund Advantage. It is a program where you can file now and have his preparation fees comes out of the refund. What happens is your information is sent over to the Metabank; once your refund is processed, the bank gets the money then they pay the tax prep fee and send you the rest of the refund. This is an option for you. Only direct deposit is available. The fee for this service is $39.95 for the first distributor of funds usual federal refund if there is a second distributor of funds then it is 12.00


He will take credit cards and e-checks for the payment for the tax prep work at the end of process and when you are ready to e-file the return.


Falls Vital Accountant Services

Russ Falls

661-526-4983

https://www.rfvas.com/tax-services

0 views0 comments

Recent Posts

See All

Investment and Taxes

The IRS has set up specific rules that need to be followed when it comes to investments of any kind. It is necessary for the taxpayer to keep track of the purchase price and date of the investment. Fo

Reporting a Deceased Taxpayer

While there are always deaths, this 2020 there have been even more deaths because of Covid-19. I think it might be helpful to give some tips that you need for the filing a tax return for a deceased pe

Unemployment Insurance is Taxable

Let’s talk about the unemployment insurance that goes with the income taxes in this 2020. All the unemployment compensation IS taxable on your federal income tax return. It IS NOT taxable on the Calif

 

661-526-4983

Book Clean up Services:

 

I will find the errors in the books and clean them up. If the accounts have not been reconciliation in six months or less. Or if the books have not been updating with in the past 6 months or so. If is it longer than six months, it might begin necessary for you do download all the transaction to excel spread sheet from the bank and then I can start the clean up process at that time.

Provide Eight Reports:

 

Using QuickBooks Online I will provide the weekly report to the owner. Reports will be Balance Sheets, Profit and loss, Cash Flow statement, Accounts Payable, Accounts Receivable, Bank and Credit Card Report last 30 days, Uncleared Transactions and Uncategorized income and uncategorized Expenses. I will set up the chart of accounts and maintain their books. I will provide them with eight reports on a weekly basis. I will explain the reports to the client so they will be able to understand what is going on. This is the top-of-the-line services that I going to offer to the client.

Balance Sheet: A report that consists of the asset’s accountant balances minus the liabilities and the owner equity or the shareholders equity.

Income Statement:  A report that gives your all the income the company minus all the expenses which the company had during in period of time. There are some expenses that was prepaid expenses which show up on the statement that was not paid with cash in that period of time.

 

Cash Flow Statement: This is a statement shows the cash inflows by the operation of the business and the investment income. The out of cash flow show the payment of the operations activities along with the investment in each period of time.

Accounts Payable Summary: This report shows the company owns money due. The time frame that the own amount is either current or past do and how far past due.

Accounts Receivable Summary: This report is important to you as an owner operator truckdriver because it show if one of your customer is failing behind on paying you.

Hopefully I will finish this page up tomorrow 2/12/2021.