Frequently Asked Questions
At PBG Advisors & CPAs, we work with individuals and businesses across the United States providing strategic tax planning, tax preparation, and advisory services. We strive to provide clarity and transparency in everything we do. As your trusted Colorado tax planning accountants, we understand that you may have questions, and we’re here to help. Below are answers to common questions about working with our firm, our tax planning approach, and how our remote systems make the process seamless.
We recognize that tax season can be a stressful time for many. Our goal is to make this period as easy and stress-free as possible for you. You can also find additional help under Client Resources, where you can find videos, tips, and news. We are always adding content to the site to help answer your frequently asked questions. If you can’t find the information you’re looking for, please don’t hesitate to contact us directly.
Prospective Client FAQ
What makes PBG Advisors different from other CPAs or accountants?
At PBG Advisors, we take a proactive and strategic approach to taxes. While many accounting firms focus primarily on preparing tax returns, our goal is to help clients understand and optimize their tax position over time, not just file forms once a year.
Our team of CPAs and accountants works closely with individuals and business owners to provide accurate tax preparation, thoughtful tax planning, and practical financial guidance. We believe the best outcomes come from long-term relationships, where we understand our clients’ businesses, goals, and evolving financial situations.
In addition to tax compliance, we help clients identify opportunities for tax optimization, strategic planning, and informed financial decisions, all while ensuring they remain compliant with ever-changing tax laws.
Taxes may be complex, but good advice should make them clearer. Our goal is to provide that clarity so clients can move forward with greater confidence and peace of mind.
If you’re looking for a CPA firm that values thoughtful guidance and long-term partnership, we would be happy to start a conversation.
What is the difference between a CPA and an accountant?
The terms CPA (Certified Public Accountant) and accountant are sometimes used interchangeably, but they are not exactly the same.
An accountant is a general term for a professional who works with financial records, bookkeeping, reporting, and tax preparation. Many accountants are highly skilled and experienced, but the title itself does not require a specific license.
A CPA, on the other hand, is an accountant who has earned a state license by meeting rigorous education requirements, passing the Uniform CPA Examination, and maintaining ongoing continuing education. CPAs are held to strict professional and ethical standards and are licensed to perform services such as representing clients before the IRS, conducting audits, and providing specialized tax and financial advisory services.
In practical terms, both accountants and CPAs may prepare tax returns. However, a CPA designation signals a higher level of credentialing, regulatory oversight, and professional training, which can be particularly valuable when dealing with complex tax situations, business ownership, or strategic financial planning.
For individuals and businesses with more involved tax needs, working with a CPA often provides an additional level of expertise and accountability.
Read more: CPA vs Accountant: Why Working with a CPA Matters for Tax Planning
Can you work with clients outside of Colorado?
Yes. While our office is based in Colorado, we work with clients across the country. Modern tax advisory no longer requires sitting across a desk from your CPA. Through our secure client portal, encrypted document sharing, and video meetings, we provide a seamless remote experience for tax preparation and proactive tax planning.
Many of our clients seek us out specifically because of our strategic tax advisory approach—not simply because of geography. Our systems allow us to deliver the same level of service, insight, and tax optimization whether you are down the street or across the country.
Think of it as having a trusted tax advisor in your corner—without needing to fight traffic to get there.
How does working with PBG Advisors remotely work?
Working with our firm remotely is designed to be simple, efficient, and secure.
We provide two levels of service: tax maintenance (compliance) and tax advisory (planning).
Tax maintenance focuses on preparing and filing your tax returns accurately and on time. Clients upload documents through our encrypted client portal, where our team reviews the information and prepares your return. If questions arise during the preparation process, we may schedule a quick call or video meeting to clarify details and ensure everything is reported correctly.
For clients seeking additional tax advisory, we offer separate planning engagements that go beyond basic compliance. These meetings involve reviewing financials in greater detail and discussing strategies that may help optimize taxes and improve long-term financial outcomes. Advisory services are provided as an additional service beyond standard tax preparation.
Once your return is complete, you review and sign electronically, and we file everything securely on your behalf.
Our streamlined systems allow you to spend less time chasing paperwork and more time focusing on your business, career, or life—while knowing your tax matters are being handled thoughtfully and professionally.
Do you offer tax advisory or just tax preparation?
Yes, we provide both tax preparation (compliance) and tax advisory (planning) services, though they are structured as separate levels of service.
Our tax preparation, which we refer to as tax maintenance, focuses on preparing and filing your tax returns accurately and on time. This includes reviewing your documents, preparing the return, and ensuring compliance with federal and state tax requirements.
For clients who want a more proactive approach, we offer tax advisory services as an additional engagement. Advisory meetings involve reviewing financials in greater detail and discussing strategies that may help optimize taxes, improve long-term financial outcomes, and identify planning opportunities for future years.
In short, tax preparation ensures everything is filed correctly. Tax advisory focuses on improving the results going forward.
Some clients begin with tax preparation and later add advisory once they see the value of more strategic planning.
Read more about our Tax Advisory (Planning) and Tax Preparation (Maintenance/Compliance) Services
Who are your typical clients?
We work with individuals and businesses who value thoughtful tax strategy and and need experienced, professional guidance from a CPA.
Our clients often include business owners, entrepreneurs, real estate investors, medical and other high-income professionals whose tax situations require more than basic preparation.
Many come to us after realizing that tax software or transactional tax preparation does not provide the planning insight they need.
Our goal is to serve clients who want an advisor—not just a form-filer—someone who can help them understand opportunities, navigate complexity, and make smarter tax decisions over time.
What industries do you specialize in?
Our firm works with a wide range of clients, we frequently advise business owners, entrepreneurs, real estate investors, and professionals with complex tax situations.
These clients often benefit the most from proactive tax planning and strategic guidance.
Each industry has unique considerations—from entity structure to deduction opportunities—and our experience allows us to help clients navigate those nuances effectively.
We have specific experience and expertise in the following:
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Business owners
- Medical professionals and healthcare providers
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Attorneys and law firm partners
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Corporate executives and high-income professionals
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Veterinarians and veterinary practice owners
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Real estate investors and developers
- Entrepreneurs and startup founders
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Families and individuals planning for long-term financial stability
While tax laws apply broadly, the best strategies are rarely one-size-fits-all. Our approach focuses on understanding each client’s situation and identifying thoughtful ways to optimize their tax position.
Please reach out to find out if we are a good fit for your business, even if it is not listed above.
How do I get started working with PBG Advisors?
Getting started is straightforward.
We begin with an introductory conversation to understand your situation, goals, and whether our firm is a good fit for your needs. From there, we schedule a meeting to get to know you and for you to meet the CPA you’ll be working with. Our Client Service Specialists will walk you through our simple systems and processes. We guide you through our onboarding process, including secure document sharing and gathering the information necessary to begin your tax preparation or planning work.
Our goal is to make the transition smooth and organized so you feel confident that your tax matters are in capable hands.
And while taxes may never be anyone’s favorite topic, we aim to make the process far more manageable—and occasionally, dare I say, even enjoyable.
What states do you serve?
We serve all states. While our office is based in Colorado, we work with clients across the United States. Our secure systems and remote processes allow us to provide the same level of service whether you are local or located in another state.
We regularly prepare federal and state tax returns, including multi-state filings for individuals and businesses who earn income, own property, or operate in more than one state. Multi-state tax situations can become complex quickly, and part of our role is helping clients understand their filing requirements and ensuring returns are prepared accurately.
In addition to tax preparation, we also provide remote advisory services for clients who want strategic guidance on tax planning and financial decisions throughout the year. These meetings can be conducted by phone or video, allowing us to review financials and discuss potential tax optimization strategies regardless of location.
Our goal is to make working with a trusted tax advisor simple and seamless—no matter where you live or do business.
What information do I need to start working with you?
We’d love to work with you!
Getting started is simple—just give us a call, and one of our Client Service Specialists will take the time to learn more about your situation and determine if we’re the right fit for your needs.
If it’s a good match, we’ll send you a personalized document request outlining exactly what we need, so there’s no guesswork on your end. You’ll also receive access to your secure client portal, where you can easily upload your documents and communicate with our team. From there, we’ll take care of the rest and guide you through each step of the process.
When is the best time to hire a CPA for tax preparation and tax planning?
You can reach out to us at any time of year to get started with tax preparation or advisory—we’re always happy to help.
That said, the most valuable time to engage a CPA is before tax season, while there’s still time to plan—ideally during the summer or fall. The earlier we begin working together, the more opportunities we have to review your financials, identify strategies, and make meaningful decisions that can positively impact your tax situation.
In short, early engagement allows us to be proactive—not just reactive—so you’re not simply reporting the past, but actively improving your outcome.
Do you accept new clients during tax season?
Yes—we do accept new clients during tax season and would love to work with you.
That said, summer or fall is the optimal time to get started. Tax season is our busiest time of year, and the earlier we begin working together, the more opportunities we have to review your financials, identify strategies, and make meaningful decisions that can positively impact your tax situation.
Our goal is to provide responsive communication and high-quality service to every client. If you’re interested in proactive tax planning and advisory, the more time we have to understand your situation and implement strategies, the greater the potential impact we can make.
Tax Planning & Advisory FAQ
What is the difference between tax planning and tax preparation?
We provide both tax preparation (compliance) and tax planning (advisory) services, though they are structured as separate levels of service.
Our tax preparation, which we refer to as tax maintenance, focuses on preparing and filing your tax returns accurately and on time. This includes reviewing your documents, preparing the return, and ensuring compliance with federal and state tax requirements.
For clients who want a more proactive approach, we offer tax advisory services as an additional engagement. Advisory meetings involve reviewing financials in greater detail and discussing strategies that may help optimize taxes, improve long-term financial outcomes, and identify planning opportunities for future years.
In short, tax preparation ensures everything is filed correctly. Tax advisory focuses on improving the results going forward.
Some clients begin with tax preparation and later add advisory once they see the value of more strategic planning.
Read more about our Tax Planning and Tax Preparation Services
When should someone hire a CPA instead of using tax software?
Tax software can be useful for straightforward situations, but many people reach a point where professional guidance becomes valuable.
If you own a business, invest in real estate, have multiple income sources, or want proactive tax planning advice, a CPA can help identify opportunities that software simply cannot.
A qualified advisor can also help you avoid costly mistakes and make strategic decisions that impact future tax years.
In other words, tax software is designed to calculate numbers. A CPA helps interpret those numbers and guide better decisions around them.
How can proactive tax planning reduce taxes?
Proactive tax planning focuses on identifying legal strategies that improve your tax position before the year ends. The best time to engage our services for tax planning (tax advisory) is in the summer and fall.
This may involve evaluating business structures, optimizing deductions, timing income and expenses, retirement contributions, and taking advantage of available credits or planning opportunities. If you own property, a cost segregation study could be just what you need to save money on taxes, call us or check out our affiliate, keystonecostseg.com, for more information.
Small strategic decisions made throughout the year can often have a meaningful impact when tax time arrives.
Our role is to help clients understand these opportunities and apply thoughtful strategies that align with their broader financial goals.
Because the best time to reduce taxes is rarely April—it is the year before.
Read more: How Business Owners Can Reduce Taxes through Strategic Tax Planning
What tax strategies help business owners lower taxes?
There are a number of tax strategies that may help business owners reduce their overall tax burden, but the right approach depends on the structure of the business and the owner’s financial situation.
Common strategies can include evaluating entity structure (such as S-Corporations), optimizing deductions, timing income and expenses, retirement contributions, and properly documenting business expenses. Business owners may also benefit from strategies involving home office deductions, accountable plans, depreciation of equipment, and tax credits where applicable.
The most effective strategies typically come from proactive tax planning during the year, rather than waiting until tax season when most decisions are already finalized.
Our goal is to help business owners understand their options and apply thoughtful strategies that support both tax efficiency and long-term financial goals. Call us today to find out how we can help you discover the best tax strategies for your situation.
How long does tax preparation take?
The timeline for tax preparation depends on the complexity of the return and how quickly all necessary information is provided.
For many individual returns, preparation may take a few weeks once all documents have been received. More complex returns—such as those involving businesses, real estate investments, or multi-state filings—may take additional time due to the detailed review required.
Our process begins once all requested documents are uploaded to our secure client portal. From there, our team reviews the information, prepares the return, and follows up with any questions before finalizing the filing.
In some cases, particularly when information arrives closer to the filing deadline or when additional review is beneficial, we may recommend filing a tax extension. Extensions are a normal and common part of the tax process and simply provide additional time to ensure your return is prepared accurately and thoughtfully. It’s important to remember that an extension applies to the filing deadline, not the payment deadline, but it allows us to complete the work carefully rather than rushing complex returns.
We aim to complete returns efficiently while ensuring accuracy and thoughtful review—because when it comes to taxes, getting it right is far more important than rushing it.
Why is tax planning done before the end of the year?
Tax planning is most effective before the end of the year because many tax-saving opportunities depend on decisions that must be made while the year is still in progress. Once December 31 passes, most of those opportunities are no longer available, and the focus shifts to reporting what has already happened rather than improving the outcome.
Planning ahead allows time to evaluate strategies such as timing income or expenses, retirement contributions, business deductions, entity structure decisions, and potential tax credits. These types of decisions can have a meaningful impact on the final tax result, but they require time to implement properly.
In other words, tax preparation looks backward, while tax planning looks forward. By reviewing financials before year-end, we can identify opportunities and help clients make informed decisions that may reduce surprises and improve their overall tax position.
1099 FAQ
What is the 1099 reporting threshold for 2026?
For payments made in 2026, businesses generally must issue Form 1099-NEC when reportable payments to a nonemployee for services total $2,000 or more during the calendar year. This replaces the previous $600 threshold.
The threshold applies separately to each payee. Once it is met, report the full reportable amount—not just the amount above $2,000. Different thresholds apply to certain other payment types.
Who needs to receive a 1099 from my business?
Independent contractors, freelancers, and other service providers may need a Form 1099-NEC when your business pays them at least $2,000 in reportable payments during 2026.
Reporting generally applies to individuals and partnerships, including many LLCs. Payments to corporations are generally exempt, but exceptions include attorney fees and certain medical and health care payments. Personal payments generally do not require these forms.
What is the difference between Form 1099-NEC and Form 1099-MISC?
Form 1099-NEC generally reports payments for services performed by nonemployees, including vendors, independent contractors, freelancers, and attorneys.
Form 1099-MISC reports categories such as rent, prizes and awards, certain medical and health care payments, and other specified payments. The correct form and reporting threshold depend on the payment type.
When are 1099 forms due for 2026 payments?
The federal deadlines for reporting 2026 payments are:
- Form 1099-NEC: February 1, 2027, to both the IRS and the recipient (January 31 falls on a Sunday). Late or missing filings can result in penalties per form.
- Form 1099-MISC recipient copies: Generally February 1, 2027, with exceptions for certain payment types. Copies reporting amounts in boxes 8 or 10 are due February 16, 2027.
- Form 1099-MISC IRS filing: March 1, 2027, for paper returns, or March 31, 2027, for electronic returns.
These dates reflect weekend and holiday adjustments. State requirements may differ.
Do I issue a 1099 for payments made by credit card or PayPal?
Credit card payments and qualifying third-party network transactions fall under Form 1099-K rules and generally should not also be reported by your business on Form 1099-NEC or Form 1099-MISC.
For payment apps such as PayPal, the transaction type matters. Do not assume every app payment qualifies for this exclusion.
Do businesses have to file 1099 forms electronically?
Generally, businesses filing 10 or more information returns in total must file electronically. The count combines applicable return types, including Forms W-2; it is not a separate limit for each type of 1099.
What information should I collect before preparing a 1099?
Request a completed Form W-9, preferably before paying a new contractor or vendor. Use it to confirm the payee’s:
- Name and mailing address
- Taxpayer identification number
- Federal tax classification
Keep payment records showing annual totals and payment methods so you can identify reportable payments accurately.
What if a contractor does not provide a taxpayer identification number?
Missing or incorrect taxpayer identification information can trigger 24% backup withholding on reportable payments. IRS notices may also require withholding.
If backup withholding occurs, a 1099 generally must be filed even when payments are below the normal reporting threshold. Contact your tax advisor promptly if a vendor does not provide the required information.
Who can help me understand my business’s 1099 requirements?
PBG Advisors & CPAs helps business owners understand which payments may require a 1099 and what information to gather before filing. If you have questions about a contractor, vendor, payment method, or deadline, contact our team before filing season.
What are my next steps?
- Collect a Form W-9 from every vendor and contractor you have paid this year, and from any new vendor before their first payment.
- Review your vendor list and payment records to identify who is likely to reach $2,000.
- Use each vendor’s Form W-9 to confirm their name, taxpayer identification number, and federal tax classification.
This information summarizes common federal requirements for 2026 payments. Exceptions and additional requirements may apply. See the IRS instructions for Forms 1099-NEC and 1099-MISC and IRS Publication 1099 for details.
Current Client FAQ
Do I need to fill out my tax organizer?
The short answer is, no. We don’t require a completed tax organizer. The tax organizer is sent to you at the beginning of tax season for your individual tax return, you will not receive one for your business. While completing the organizer is not a mandatory part of the documents needed to prepare your tax return, we do find that having a completed organizer, and specifically the completed 3-page checklist found within the organizer, helps us refine the follow-up questions we need to ask so that we can complete your tax returns in a more accurate and efficient manner. You will receive an email inviting you to fill out an electronic organizer. For business tax returns, you will receive a link to a checklist to help ensure you submit the proper documents needed for us to complete your tax return.
How do I upload files to the client portal?
You can access your client portal from our website. Click on the button in the top right corner of this screen that says “Client Portal.” You will be directed to the login page. You can either login here or click sign up if you need to create your account.
Once logged in, you will see an option on the right that says, “Send files to Tax Professional or Tax Preparer.” Simply click here and you will be directed to our secure messaging system. Upload any files, include a subject and message if needed, and click send. Please watch this video for a more in-depth demonstration.
What if I can't pay the tax I owe?
The IRS allows you to make monthly installment payments to pay the taxes you owe if you aren’t able to pay your federal tax liability in a single payment. Late payment penalties and interest will still apply, but the installment payment plan can reduce the failure-to-pay penalties. You can set up a payment plan with the IRS by visiting the following website and submitting an application:
https://www.irs.gov/payments/online-payment-agreement-application
Most states also allow installment payment plans for state tax obligations, but the specific rules and application process are different for each state.
How can I help keep my tax return preparation bill down?
There are a few small things that you can do that can help keep your final bill down. First, we need all files to be in pdf format. When you upload files in any format other than pdf (such as photo files from taking a picture of your documents), it takes our team extra time to convert all those files to pdf. Sending us your files in pdf format means that we won’t need to spend extra time individually converting your files. View the video below to learn how to convert any files from your computer or iPhone into pdf format.
Also, while you are always welcome to send us files at any time, gathering all your tax documents along with your completed tax organizer and sending them to us at the same time will reduce the amount of “touches” we need to make with your file, and that efficiency can translate on your final bill. Lastly, responding promptly and thoroughly to us when we email or call will help keep your bill down. The more often we must reach out to you for information, the more time we spend on your tax return preparation. Responding promptly to us will decrease your turnaround time and your final bill.
My tax return is finished – now what do I need to do?
After your tax return is finished, there are two things we need before your tax return will be filed with the IRS and state. First, we need to obtain your signature on your e-file forms. These forms can be signed electronically from the DocuSign request that is emailed to you, or you can sign the forms in-person at our office. Second, we need to obtain invoice payment for your tax return preparation. This invoice will also be emailed to you after your tax return is finished, and you can pay directly from the email using “click to pay”. Once we have received your signed e-file forms and your invoice payment, your tax return will be filed.
I paid a deposit for my tax return preparation, but it doesn’t show on my emailed invoice.
To see the remaining amount due on your invoice, open the invoice by using the “click to pay” button and from there you will see any payments or credits that were applied to your invoice, as well as the remaining amount due.
How do I get back the tax documents that I dropped off at your office?
We are always so excited to return tax documents to our clients! If you dropped off paper documents with us, please stop by our office after your tax return is complete and we can quickly return your items to you.
What documents do I need to send you for my individual tax return preparation?
The documents you need to send us varies based on your individual needs. To help you figure out what to send us please visit this comprehensive list of documents needed for your individual tax return preparation or watch the video below.
How do I convert my files to PDF?
Please visit https://pbgadvisors.com/convert-to-pdf/ or watch this video tutorial to learn how convert any file to PDF from your PC, Mac, or iPhone.
Do I need to send out 1099s?
Please read here to learn what a 1099 form is and when to file it: https://pbgadvisors.com/what-is-form-1099/
Please watch the video below for a quick, helpful guide on 1099s.
DISCLAIMER: Any accounting, business or tax advice contained on this website, including attachments, is not intended as a thorough, in-depth analysis of specific issues, nor a substitute for a formal opinion, nor is it sufficient to avoid tax-related penalties. If desired, we would be pleased to perform the requisite research and provide you with a detailed written analysis. Such an engagement may be the subject of a separate engagement letter that would define the scope and limits of the desired consultation services.
Palmer, Brady & Galloway PLLC a professional limited liability company dba PBG Advisors.