Tax FAQ

Working With PNT Advisors FAQ

-Do you offer free consultations?

No, we do not offer free consultations. Instead, you can provide copies of your last filed business and personal tax returns for a free tax return review. Or you can pay for a 30 minute consultation.

Just like a mechanic has to look under the hood before diagnosing your car issues, same with taxes. You can’t get good tax advice unless we’re working with solid numbers.

-Why do you require a secure portal instead of email?

For both your protection and ours. Email is one of the least secure ways to send to documents, plus the IRS doesn’t allow for it. Just like online banking or facebook, a tax portal allows for self service so you can grab any documents you need when you need them, just like a bank statement. Imagine having to call the bank and wait for someone to tell you your balance every time you wanted to know as opposed to signing in and seeing it.

Plus, email goes to one person and now you’re waiting on that one person. Messages in the portal allow us to get back to you faster since anyone at our company can respond and assist you in a quicker timeframe.

-Do you work virtually or in person? Do you accept clients in all 50 states?

We are 100% remote, based in Des Moines, IA. All meetings and communication are done digitally via the portal, zoom, phone calls, etc. We accept clients in 40+ states even though we’re licensed in all 50. The areas we do NOT work with are Connecticut, Massachusetts, Ohio, New York City, and select other jurisdictions. If you’re not sure, just ask and we’ll at least answer you with a yay or nay.

-What types of clients do you not take?

We do NOT do international tax returns, trust or estate returns, real estate investors with more than three (3) properties, multistate tax returns, Non Profit 990s or 990EZs. If in doubt, send us a message and ask.

-Why do you need copies of prior tax returns before quoting?

Just like a mechanic has to look under the hood, the only way to properly quote you for the correct tax returns needed plus ensure your taxes are done correctly is using your prior returns as a base that allows us to “look under the hood.” Imagine telling the mechanic you have a red car and when they’re expecting a fiat, you then bring in a red escalade… right that just doesn’t work well. So with prior tax returns, we get the exact information needed right away instead of playing the guessing game and giving generic advice, this allows for you to get specific tax advice for your particular tax situation.

Common Tax Questions & Mistakes FAQ

-Do I need to an LLC before I start making any sales?

No, you do not. In fact, we suggest making your first sales before getting an LLC. First… find out if you like this new business venture and if it’s something you are good at and want to pursue. Then we can worry about paperwork. Especially as some states might charge upwards of $800 a year… it’s better to start, make sure you like it, then commit and get your LLC and stuff like that. A nice round ballpark number… $10k in sales. If you’ve sold $10k of products or services, you’re doing something right.

-What do I need to do to start my new business the right way?

From a tax and/or accounting standpoint… you need just a few things. First get your LLC with your state and then your EIN with the IRS. After that, you can get a business bank account in your company name. That’s it. That’s all you need to start. The next best thing is to also have a business savings account and then after every sale you make, transfer 20% to the savings account to save for taxes.

After you have your business account, every business related dollar and transaction goes through the business account. No more paying personally and reimbursing or anything like that. From now on, business transactions go through the business account.

-How does my LLC save me on taxes?

Well… it does not. LLCs are not about taxes, and instead liability. An LLC, or a limited liability company, is there to separate you liability wise and actually does nothing tax wise for you. As an example, someone slips and falls at your business… they can only sue your LLC and not you personally. Without an LLC, they can sue you for everything like the business, your house, your car, stuff like that. LLC’s are about separating your personal and professional liability, not about taxes.

-Should me and my spouse own it? Just me? Should I have partners?

Well, the best thing to consider… are you and your spouse working in the business or just you? When you’re an owner, you’re also liable so when there’s a spouse that does not work in the business or isn’t involved at all, it’s better to leave them off and not make them liable if that makes sense.

Single member LLC business income and expenses go on a “Schedule C” and it’s part of your personal tax return. Partnerships (multi member LLCs) instead report income and expenses on a separate tax return (1065) and generally those returns are significantly more expensive.

At the end of the day, it’s your decision as it’s your business. In most situations, we’d say to only have you as the owner and leave your spouse off unless they are totally working in the business just like you (not helping, but actually working).

-Should I be an S Corp?

It depends. When first starting your company… absolutely NOT. While S Corps do save you on taxes, if you’re new and not making any money yet, then you don’t have any taxes to pay. Plus S Corps come with a lot of admin costs such as a separate S Corp tax return (1120S). Plus as the owner, you also need to take a payroll check meaning you’re paying a payroll processing company, plus the payroll taxes and social security taxes. And since you need a separate return and balance sheet, you’ll also need to pay a bookkeeper.

When should you elect to be an S Corp? We always recommend when you’re making $100k in profit. NOT revenue… but profit. That usually is a good enough indicator that you can afford the increased admin costs and the tax savings actually benefit you.

-Should I make Quarterly or Estimated payments? What’s the difference?

Quarterly and Estimated Payments are the same thing. And whether you should or shouldn’t is a case by case basis. For new businesses, we generally recommend skipping the estimated payments so you can keep money in the business. Plus if you don’t make any profits then you won’t have taxes to pay anyways. The best thing to do is to meet with your tax advisor at least once in the fall for a tax projection to see how you’re trending and what you’re going to owe in taxes. And that way, you know in advance and can save, plan, etc.

-When do I need QuickBooks? Or a bookkeeper?

Not in the beginning. Generally it’s best to wait until your business is running and you’re committed before getting QuickBooks. If it’s a side hustle, then don’t get quickbooks. Or if you’re planning to go full time working for yourself, then yes you should open a QuickBooks account. Or if you want a nice round ballpark number… say $10k in sales.

As for a bookkeeper… definitely hire one after you open your QuickBooks subscription. And honestly, you probably don’t need a bookkeeper unless you plan on turning your business into a main source of income so when you go full time, then it’s time to hire a bookkeeper.

-Do I need a Wyoming, Delaware, Nevada, etc. LLC? What about a holding company?

No. 99% of business owners do NOT need LLCs in different states as it creates more admin and paperwork costs. Plus, most state websites list LLCs and their owners so you’ll still be publicly listed somewhere. For people with $5 million or more in assets or super rich people, then it makes sense and the extra costs don’t hurt.

Same for holding companies… most people do not need them as it creates more paperwork, admin costs, and headaches. I guess it also makes accountants and lawyers richer.

The best thing for 99% of people is one LLC in the state you live and operate in and that’s it.

  • Privacy Policy

    Last Updated: November, 2025

    1. Introduction

    PNT Advisors is committed to protecting your privacy and maintaining the confidentiality of all client and visitor information. This Privacy Policy explains how we collect, use, and safeguard your data when you interact with our website, client portal, or firm representatives.

    2. Information We Collect

    Personal Information: Name, address, email, phone number, tax and other personal and financial information necessary to perform professional services only.

    Usage Data: IP address, browser type, pages visited, device data, and other analytics collected automatically through our website.

    Client Files: Documents, financial data, and correspondence submitted through our secure systems such as Google Workspace, TaxDome, QuickBooks Online, and other programs and softwares used by the firm.

    3. Use of Information

    We use your information to:

    • Deliver tax, accounting, and advisory services.

    • Communicate with you about your account and ongoing work.

    • Maintain compliance with legal, regulatory, and professional standards.

    • Improve our processes through secure automation and artificial intelligence tools that support internal efficiency.

    4. Use of Technology and AI

    We use secure technology tools and limited artificial intelligence systems to assist with data organization, drafting, and client communication.

    No client-identifiable information is ever shared publicly or used to train any third-party AI system. These tools are used strictly for professional purposes and under the same confidentiality protections that apply to all client data.

    5. Recordings and Communication

    Client meetings or training sessions will be recorded for internal documentation, quality review, staff training, and other internal needs. These recordings are stored securely, accessible only to firm personnel, and will never be shared externally without consent.

    6. Data Security

    We employ strict administrative, physical, and technical safeguards to protect all personal and financial information against loss, misuse, or unauthorized access.

    7. Retention of Information

    We retain client information only as long as necessary to fulfill our professional obligations or comply with legal requirements. Clients may request deletion or transfer of data when permissible by law.

    8. Your Rights

    You have the right to:

    • Access and review your personal information.

    • Request corrections to inaccurate data.

    • Withdraw consent where applicable.

      To exercise these rights, contact us at contact@pntadvisors.com.

    9. Changes to This Policy

    We may update this policy periodically. The latest version will always be available on our website.

  • Terms of Services

    Last Updated: November, 2025

    1. Agreement

    By accessing our website, client portal, or services, you agree to these Terms of Service. These terms supplement any engagement letter signed between you and PNT Advisors.

    2. Services Provided

    We provide tax preparation, accounting, payroll, and advisory services as outlined in your engagement letter.

    3. Client Responsibilities

    • Provide complete and accurate financial information.

    • Respond to requests for clarification or documentation promptly.

    • Retain copies of all original records for your files.

    • Use our secure client portal for all document uploads and communication whenever possible.

    4. Confidentiality and Use of Technology

    We treat all client data as strictly confidential. We may use secure automation, cloud-based applications, and artificial intelligence tools to improve efficiency and accuracy. These systems are used internally and do not share your identifiable data outside of PNT Advisors.

    5. Recordings

    By engaging our services, meetings, and calls, you acknowledge that meetings or training sessions will be recorded for internal use. Recordings are confidential and never shared externally without written consent.

    6. Payment and Refunds

    Fees are outlined in the engagement letter. All payments are due as specified. Because services are customized and begin immediately upon engagement, fees are generally non-refundable once work has started.

    7. Limitation of Liability

    We perform all services in accordance with professional standards and cannot be held liable for errors resulting from incomplete or inaccurate information provided by clients.

    8. Termination

    Either party may terminate services in writing, subject to the terms of the engagement letter.

    9. Governing Law

    These terms are governed by the laws of the State of Iowa and Polk County.

  • Fulfillment Policy

    Last Updated: November, 2025

    1. Overview

    PNT Advisors LLC provides personalized professional services. The fulfillment of these services depends on client cooperation, timely submission of information, and adherence to deadlines.

    2. Service Delivery

    Services begin after engagement acceptance and receipt of any required retainer.

    Standard turnaround times are 15–30 business days from receipt of all necessary documents, depending on workload and seasonality.

    3. Communication and Technology

    We communicate primarily through our secure client portal, business phone line, and scheduled meetings. We may use AI-based scheduling, document automation, or summary tools internally to enhance response times and accuracy.

    We also record training or advisory sessions for internal use only.

    4. Confidentiality

    All client data is handled confidentially under our Privacy Policy. We never sell, share, or disclose client information to outside parties except as legally required or to fulfill contracted services.

    5. Refunds and Cancellations

    Due to the customized nature of our work, refunds are not provided once work has begun. Clients may cancel engagements as per the engagement letter of services.

    6. Dispute Resolution

    Disputes will follow the process outlined in your engagement letter.