Welcome to
Mantrom Tax Service!

Posted by on Dec 8, 2013

Mantrom Tax Service provides a wide range of tax services to Central Kentucky taxpayers. We have grown steadily since our business began in 2000. Taxes are our full-time business, and you may reach us year-round for tax advice or to answer questions. We frequently advise clients on general tax planning matters, particularly on the tax implications of financial decisions. Unlike a CPA firm or law firm, taxes are our only business. We are customer service-oriented, prompt, responsive, and personalized. We look for tax advantages our clients may not be aware of, and try to go beyond just “doing what the client brings us to do.” All of our permanent tax staff are college graduates and government-credentialed professionals. The majority of the returns that we prepare are for individuals, but we have considerable experience with small businesses including sole proprietors, partnerships, LLC’s, and C- and S-corporations. We routinely electronically file tax returns and direct deposit...

Read More

About Us

Posted by on Dec 5, 2013

There are a number of factors that make Mantrom Tax Service stand out when compared to other firms. Your Taxes Get Our Full Attention Unlike a CPA or law firm, taxes are our only business. We are customer-service oriented, available year-round, responsive, and personalized. We look for tax advantages that the client may not be aware of. Come and see us where “Your Taxes are Our Business.” We Provide Electronic Filing E-filing is a safe and efficient way to file your tax return. When you e-file you lessen the chances of your return being lost or having transcription errors. Also, you will receive your refund faster, usually 7 to 10 day turn-around if you choose direct deposit or an additional week if you prefer a check. Paper filing (mailing your return) usually takes 10 weeks or more. Our Services Are Provided at a Fair Price We price tax returns “by the form” so there are no surprises. We charge an hourly fee to do bookkeeping and organizing if a client comes in with grossly unorganized materials. We also charge for client-specific research that is out of the ordinary, such as determining the basis of an obscure or long-held stock. We charge hourly for representation, tax planning advice, and general tax consultation. Our prices are generally less than the franchises and most public accounting firms. We Are Tax Professionals All of our tax preparers are college graduates and have specialized training in income tax preparation. All of our preparers are experienced in this type of work.  Our tax professionals annually attend a national tax conference and take a two-day tax update course. Dave Mantrom is an Enrolled Agent Enrolled Agents (EA’s) are licensed by the IRS not only to prepare tax returns but to provide tax advice and to represent taxpayers at all administrative levels of the IRS. EA’s must pass a two-day comprehensive exam given by the IRS. To maintain EA status, there is mandatory continuing education required each year. As an EA, Dave has special privileges with the IRS that an unenrolled preparer does not have. Jennifer Coupal is a Certified Public Accountant CPA’s have the same privileges with the IRS on tax matters as do EA’s. We Have Payment Options Generally, payment is due upon completion of tax returns.   We accept Cash, Check, Visa, Master Card, American Express and...

Read More

Services

Posted by on Nov 9, 2013

Mantrom Tax Service provides a broad range of tax services to our clients, including preparation of tax returns, assisting with regular tax payments and other form filing, tax advice, and tax representation. Preparation of Income Tax Returns Individual Partnership/LLC Corporations (C-Corp, S-Corp, PSC, Homeowners Associations) Trust/Estate Income Estate Tax/Gift Tax Exempt Organizations Foreign Income Out-of-State Returns Local Returns Non-Resident Alien Returns Part-Year and Non-Resident State Returns Electronic-Filing Assisting with Regular Tax Payments and other Form Filing Estimated Tax Payroll Tax Unemployment Tax Federal, Any State, and Local W-2’s 1099’s Injured Spouse Installment Payment Agreements Foreign Bank Account Reporting Tax Advice General Tax Planning Tax Implications of Financial Decisions Starting a Business Retirement Planning Retirement Distributions New Homeowner Farms and Race Horses Sale of Business Property Sale of Investment Property Tax Deferred Exchange (1031) Liquidation of Business Divorce Death Tax Representation Professional Assistance (You have a right to this.) Replies to IRS, State, and Local Notices Late Filing Examinations (Audits) Appeal of Examinations Payment Options Innocent Spouse Relief Offer in...

Read More

Your Appointment

Posted by on Nov 8, 2013

At Mantrom Tax Service, we want to help you make the most of your tax appointment. Doing some homework prior to your appointment can make preparing your return efficient and save you time. Providing us with complete information may save you hundreds and even thousands of dollars. Personal Information Bring all tax returns filed last year if you are a new client. If you have moved from out-of-state, make sure we know the dates your residency changed. Bring a voided check so we can direct deposit your refunds. If you have had a recent personal residence transaction, such as buying, selling, or refinancing, bring your settlement statement. Income Bring all W-2’s, 1099’s, and documentation of  non-employee income, including investments, contract labor, retirement, and social security. Bring any K-1’s you may have received from partnerships, S-corporations, estates, or trusts. Adjustments to Income These include, among other things, deductible retirement contributions, student loan interest paid, health savings account deposits, out of pocket moving expenses, college tuition, and teacher expense deductions. Itemized Deductions These include out of pocket medical expenses, including after tax medical insurance premiums paid, property taxes, including tax paid on your personal residence and vehicles, home mortgage interest and points paid, charitable contributions, and miscellaneous deductions such as unreimbursed job expenses. Interest and Capital Gains Bring all year end bank account/stock/bond/mutual fund statements. Any investment or business property sale must have cost basis, date of acquisition, and sale date and price. Most personal residence sales are exempt from capital gains on net profit if owner lived in property sold for more than two years. Business, Farm, and Rental Property Generally speaking, gross income is gross receipts or rents received, and expenses are any amounts paid in connection with running the business and/or maintaining the property. Additionally, depreciation information (cost, date in service, and any prior year depreciation history) will be needed for all assets. Credits Credits are subtracted directly from your tax, not just reducing your taxable income like deductions. If you, or your dependent is a college student, bring amount paid for college tuition, fees, and other costs such as required books and computers. Bring childcare cost and name, address, and SSN/EIN of provider for children under age 13.  You may also be eligible for credits on energy-efficient improvements and adoption credits. Payments Bring amounts and dates of federal and state estimated tax payments and any payments made with extensions filed.   These are just a few suggestions. As we talk with you more we can expand on what else might be needed for your tax situation. We hope that this will be helpful to you this tax season. Remember “Your Taxes are Our Business.” We look forward to...

Read More