Frequently Asked Questions

Everything is 100% virtual — no in-person meetings required. We use secure cloud-based portals to exchange documents, conduct video meetings via Zoom or Google Meet, and communicate via email and phone. You get the same quality CPA service as any traditional firm, with the added convenience of never having to leave your home or office.

We provide every client with access to a secure, 256-bit encrypted client portal for document sharing. You can upload tax documents, financial statements, and other sensitive information safely — never send confidential information via regular email.

We commit to responding to all client communications within one business day. For urgent matters, call us directly at (201) 800-2330. One of the most common complaints about accounting firms is slow response times — being genuinely responsive is a core commitment at ProAxis.

We primarily serve small-to-mid-size business owners ($1M–$10M revenue), executives, real estate investors, medical professionals, and high-income individuals — primarily in Bergen County and throughout New Jersey, but we work with clients nationwide.

We prepare individual returns (Form 1040 including all schedules), business returns (S-Corp Form 1120-S, C-Corp Form 1120, Partnership Form 1065, LLC returns), trust returns (Form 1041), New Jersey state returns (NJ-1040, CBT-100), and multi-state returns for individuals and businesses with nexus in multiple states.

For individuals, the standard deadline is April 15 (or the next business day if it falls on a weekend or holiday). Partnerships and S-Corps are due March 15. C-Corps are generally due April 15. All deadlines can be extended — extensions give you more time to file, but NOT more time to pay taxes owed. Contact us early if you need an extension.

Yes. We can file an automatic six-month extension for your federal return (Form 4868 for individuals, Form 7004 for businesses). However, if you owe taxes, you must pay the estimated amount by the original deadline to avoid penalties and interest. An extension is never a reason to wait — start gathering your documents early.

Absolutely. NJ state tax returns are included as part of our tax preparation services. We're well-versed in NJ-specific issues including the NJ Gross Income Tax, Corporation Business Tax (CBT), and the many ways NJ tax law differs from federal law.

Tax preparation is backward-looking: it records what happened in the prior year and ensures you file correctly. Tax planning is forward-looking: we analyze your current situation and make strategic recommendations to legally minimize your taxes before year-end. Most accountants only do tax prep. ProAxis provides year-round tax planning as a core service.

This varies widely depending on your income, business structure, and current situation, but it's not uncommon for business owners to save thousands or even tens of thousands annually through strategies like optimal entity structure, retirement plan contributions, timing of income and deductions, and NJ-specific elections like the BAIT program. The best time to plan is NOW — not in April.

The NJ Business Alternative Income Tax (BAIT) is a powerful tax strategy for NJ pass-through business owners (S-Corps, partnerships, LLCs taxed as partnerships). It allows your business to pay NJ income tax at the entity level, which becomes a federal business deduction — effectively bypassing the $10,000 federal SALT cap. It can save NJ business owners significant money. Whether it makes sense for you depends on your specific situation — contact us to discuss.

Don't panic — not every IRS letter is an audit notice. Many are routine requests for information, balance due notices, or confirmation of a return. Do NOT ignore it. Read it carefully, note the response deadline, and contact us immediately. We can help you determine the nature of the correspondence and respond appropriately. Never respond to an IRS letter without CPA guidance.

Yes. As licensed CPAs, we are authorized to represent clients before the IRS in all administrative matters — including audits, collections, appeals, and exam. We can communicate with the IRS on your behalf so you don't have to. If you're facing a serious IRS matter, let our team handle the representation.

An Offer in Compromise (OIC) is an IRS program that allows qualifying taxpayers to settle their tax debt for less than the full amount owed. It's not for everyone — the IRS accepts OICs only when the full debt truly cannot be collected (based on income, assets, and expenses). ProAxis evaluates whether you qualify and handles the complete OIC process.

QuickBooks and other software are tools — they don't replace expertise. Many business owners use QuickBooks but categorize transactions incorrectly, miss reconciliation errors, or produce financial statements that don't accurately reflect reality. CPA-supervised bookkeeping ensures your books are not only accurate but also set up to minimize your tax liability and provide actionable business insights.

A Fractional CFO provides CFO-level financial leadership — cash flow forecasting, financial modeling, strategic planning — on a part-time basis. If your business has grown beyond simple bookkeeping but you're not ready to hire a full-time CFO (typically $150K–$300K+ salary), a Fractional CFO provides the strategic oversight you need at a fraction of the cost. Generally relevant for businesses in the $1M–$10M+ revenue range.