Q. Why Hire a Tax Professional?

While many do-it-yourself tax preparation options are now available, there are many benefits of hiring a tax pro. Year to year, tax codes change, and our team is on top of it all. In addition, we can save you time, overcome unforeseeable bumps in the road, and most importantly, get the best possible outcome for your individual or business tax return.

Q. What is the deadline to file my taxes by?

The standing deadline for personal tax returns is April 15th, except in circumstances where the 15th falls on a weekend or holiday. If you won't be able to file taxes by the 15th, speak to a member of our team about getting an extension!

Q. When is the earliest date I can file?

As soon as you receive your W-2, we recommend filing as soon as possible. The IRS may not accept returns until a pre-defined date, but it is always advisable to gather documents and prepare to file taxes as early as you can.

Q. What other services does Avalon Advisory provide other than Tax Preparation?

We have been serving both individuals and businesses in Maine for over 30 years. Our other service offerings include financial planning, bookkeeping, accounting, and payroll.

Q. Why is my tax refund different than last year?

If income and other factors remain constant, it is likely that changes in the tax code have affected your return. One of the most important reasons we recommend filing with a pro is to make sure you're in the loop regarding any recent tax code changes.

Q. What can I do to protect myself from being audited?

While we cannot stop the IRS from choosing to audit your personal or business tax return, we can make sure everything is in place if and when an audit occurs. Diligent record-keeping and a tax professional on your side will take the stress out of the auditing process.

Q. What deductions am I eligible for and why?

There are a myriad of tax deductions available both for individual and business returns. Charitable donations, medical expenses and work expenses are among the most common. The tax professionals at Avalon Advisory can help ensure you don't miss out on any important deductions!

Q. How long does it take to process and get my refund back?

The IRS provides a 'track my refund' tool that refreshes itself every 24 hours. There is no predetermined time-frame provided for when your refund will come back, but it is generally true that the earlier you file, the quicker you will receive your income.

Q. What are the different options for receiving my refund?

The IRS can get your money to you in a few different ways. Paper checks and savings bond purchase options are available. The quickest and most convenient way is typically to set up a direct deposit into your checking or savings account.

Q. What do I need to claim my children or dependents on my return?

Depending on your marital and custody status, you may be eligible to claim dependents and receive the child tax credit. Each circumstance is different, but generally, the child must live with you for at least half of the year for which you are filing. In order to claim a dependent, you must provide dependent information, including social security numbers.