- FAQs
Questions and answers about our services
If you have any other questions, please contact us.
- What does Lotus Q Inc do?
- We support small businesses in every stage of their lifecycle, providing complete solutions for all financial & tax needs of the business and the owners that support it.
- What do I need to do?
- We lead businesses to successful solutions, but it is ultimately the business’ responsibility to act. To keep projects on time, documents & information are needed in a timely manner. Late submissions may result in late filings and any associated penalties & interest are the responsibility of the business.
- What are the payment requirements?
- We require all services to be paid in full prior to beginning a project. Service packages are required to be a minimum $2,500 annual fee.
- Taxes are overwhelming, where do I start?
- It is completely normal to have anxiety when facing a complete unknown. With the unending changes in tax law it is literally a full time job to stay on top of these updates, not to mention the prohibitive cost of quality continuing education. We are that partner, investing time and money into making sure you don’t miss potential strategies.
- What’s the difference between tax planning and tax preparation?
- Tax preparation is completing and filing the tax return only. Tax planning is a service that evaluates your tax situation and provides strategies to maximize the benefits of tax law.
- Do you have S Corp FOMO?
- This entity type has gained popularity, but there are strict requirements that must be followed. We evaluate your specific situation to confirm the benefits outweigh the additional cost & responsibilities.
- I haven’t filed in a while, what should I do?
- Its never too late (or too early) to get taxes resolved! While its true the earlier you come the easier it is, there is always something that can be done.