Service Description

IMPORTANT INFORMATION FOR BUSINESS OWNERS If you own a business and are coming to R & I Tax & Bookkeeping Service, Inc. (RITBSINC) for tax preparation, please have your financial records organized before your appointment. PROFIT & LOSS STATEMENT REQUIRED Business owners should provide a completed Profit & Loss Statement (P&L) showing business income and expenses for the tax year. This information is needed to accurately prepare your business tax return. Don't Have a P&L? We Can Help. If you have not maintained your bookkeeping and do not have a completed P&L, RITBSINC can prepare one from your financial records. This is a separate bookkeeping/accounting service and is NOT included in your tax preparation or consultation fee. P&L Preparation — Minimum $1,000 If our accounting team must review your bank statements, credit card statements, receipts, and other records to reconstruct your business income and expenses, the fee starts at a minimum of $1,000.00. Your final fee may be higher depending on the number of accounts and transactions, missing records, mixed personal and business expenses, incomplete bookkeeping, or the amount of cleanup required. $1,000 is the minimum starting fee, not a guaranteed final price. SAVE TIME AND MONEY Before asking us to reconstruct your records, contact your bank or financial institution and request any available annual transaction summaries, categorized spending reports, downloadable transaction histories, or other organized financial reports. Your bank may not provide an accounting-ready P&L, but organized records can reduce the amount of bookkeeping required and may lower your cost. If you use QuickBooks or another accounting system, please make sure your bookkeeping is current and provide your completed financial reports. BOOKKEEPING & TAX PREPARATION ARE SEPARATE Please do not wait until your tax appointment to bring a year's worth of unorganized financial records. If bookkeeping must be completed first, additional time and fees will apply, and your tax preparation may be delayed. NOT SURE WHERE TO START? Schedule a $150 consultation with Linda Yarbrough. With more than 30 years of tax and accounting experience, Linda can answer your questions and help determine your next steps. Tax season fills quickly—start early!