The Tax Process
Strategic Tax Planning:
A Key Component of Your Financial Wellness
Thoughtful tax planning plays a role in your overall financial wellness. Whether you're planning for retirement, investing, or managing business finances, integrating tax strategies into your overall financial plan may help optimize your approach to future financial goals. Let us help you navigate the complexities of tax planning to help you on the path toward your financial goals.
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6 Simple Steps to Completing Your Return
Our 6-Step Tax Process is designed to ensure a thorough and accurate completion of both individual and business tax returns. This process requires active collaboration between you and your dedicated FSM team. Throughout each step, we work closely with you to gather necessary information, review documents, and address any questions or concerns. Follow along as we guide you through the process from start to finish.
Step 1:
You Gather and Submit
Gathering Documents:
Th​e FSM Organizer and Simple Checklist are available to determine what you need to submit for the completion of your tax return. For returning clients, a personalized organizer with last year's numbers is available upon request.
Submitting Documents:
SmartVault is our online document software provider that allows us to store, manage, and share files online. This is where you can upload documents digitally and view previous years' returns. If you would prefer to provide paper documents, you can drop off copies, visit the office for a Scan-While-Wait, or mail-in your originals or copies. ​​​
Step 2:
We Begin Processing
Our team will let you know that we've received your documents via text or phone call. We carefully sort through your documents, put them in order, and pass on a complete packet to our data entry team. They may reach out to you if anything is missing or any of your documents are damaged/illegible, so be checking your texts and email inbox for messages from us during this time.​​
Step 3:
You Provide Missing Information
Should you have any missing documentation, you will receive an email from our team notifying you of what information is missing. Once you have accessed your documentation, please send it to our team via Secure email or by mail.
Step 4:
Together We Review
Once your return has been completed, your Tax Advisor will review the results with you. This is the point at which you would let your Tax Advisor know if you have any additional questions, concerns, or need further explanation about the results of your return.
Step 5:
You Sign and Pay
​To Sign Authorization Forms:​
In order for us to eFile your tax returns on your behalf, we will need all applicable forms signed. To get those signatures, we will send you a DocuSign. This will go to the email(s) we have on file. If you are unable to DocuSign, call the office for assistance.
​To Pay FSM Fees:
You can pay by credit card by clicking on the link below or over the phone (303-988-1411). We also accept cash or check, which can be mailed or dropped off in person. Payment is required before tax returns are filed. Clients will be provided with an invoice and a detailed explanation of fees prior to submission.
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Note: FSM cannot withdraw fees from your bank account
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Step 6:
We File and Upload
Once you’ve signed and paid, we will eFile your return with all applicable institutions. Once your returns have been accepted, we will upload a digital copy of your returns to SmartVault and send you a text to let you know. No further action is required of you unless you owe payment to the IRS/Dept of Revenue, etc. and you aren’t signed up for auto-withdrawal from your bank account (which your advisor should have discussed with you during the review).
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For a hard copy of your return, please request one by calling the front desk at (303) 988-1411.
Helpful Tax Guidelines for Individuals
By when?
In order for our team to complete your return before the April 15th filing deadline, we must receive documentation by March 20, 2025. Please refer to your Client Letter for more information on your deadline.
Frequently Asked Questions
How long will it take to complete my return?
We operate on a first-come, first-served basis. The earlier in the season you submit your tax documentation, the quicker our team can begin processing your return. The time it takes to complete your tax return largely depends on the accuracy and completeness of the information you provide. Timely responses to communications from your Tax Advisor and the team will expedite the process.
What should I do if I am waiting on one form?
Please submit your tax packet as complete as possible. If you are waiting on a document or two, you can still submit your packet but please include a note explaining what's missing and when you expect it.
Can I get an update on the status of my return?
Text or call (303) 988-1411 to see where you're at in the process. Be sure to check your texts and emails for updates. The most common delay is due to missing information.
How do I pay my taxes and when?
You will set up the payment method for your taxes during your Review Call with your Tax Advisor. Together you can set up how and when your taxes will be paid, either via automatic withdrawal (recommended), online, or mail a check with a voucher.
I got a form after my return has been filed. What should I do?
Please submit the documentation and your Tax Advisor will assess whether or not an amendment is necessary.
When would I need to file an amendment?
If you become aware of information that should have been included in your return, such as additional taxable income or a missed deduction, let us know and we will file an amendment for you. You can discuss possible fees for amendment filing with your Tax Advisor.
What should I do if I receive a letter from the IRS or state?
We are happy to help you respond to letters from the state or IRS. If you receive one, you can upload the letter to your SmartVault or by whichever method you use to submit your documents and your advisor will reach out to discuss and formulate a response on your behalf at no additional charge.
How long do I have to keep my documents?
It is recommended to keep your tax documentation for a minimum of 3 years for individuals and 7 years for businesses. FSM stores digital copies of your documents for 7 years for both individuals and businesses using SmartVault, our online document storage platform.