Denver Tax Services | Bookkeeping | Net Prophet (720) 409-8227

PRICING

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WASHINGTON

$99

LINCOLN

$199

FRANKLIN

$299

WASHINGTON

PLATFORM

$99

PER MONTH

(Prepaid annually or

$109 paid monthly)

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Includes: Access to your Prophet Platform, and monthly bookkeeping, reconciliation, and financial statement preparation for up to 2 bank/credit card/Paypal accounts for a cumulative total of 50 transactions. Pricing does not include setup fees.

LINCOLN
PLATFORM

$199

PER MONTH
(Prepaid annually or
$219 paid monthly)

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Includes: Access to your Prophet Platform, and monthly bookkeeping, reconciliation, and financial statement preparation for up to 4 bank/credit card/Paypal accounts for a cumulative total of 100 transactions. Pricing does not include setup fees.

 

 

FRANKLIN
PLATFORM

$299

PER MONTH
(Prepaid annually or
$329 paid monthly)

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Includes: Access to your real-time financials through your Prophet Platform, and monthly bookkeeping, reconciliation, and financial statement preparation for up to 5 bank/credit card/Paypal accounts for a cumulative total of 125 transactions. Pricing does not include setup fees.

Call us about our addititonal services. 720-409-8227 or contact@netprophet.biz

CUSTOM PACKAGES

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PAYROLL

Up to 3 employees $49 per month; up to 6 employees $79 per month; up to 10 employees $99 per month.

CFO / CONTROLLER SERVICES

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TESTIMONIALS

Thinking about Cashing Out Your 401k? Think Again

Denver is no different from any other area in the country when it comes to cashing out a 401(k). This tax-deferred, employer-sponsored benefit involves having your employer withdraw a predetermined amount of pre-taxed money from your paycheck, and have this money placed in a retirement investment account for your future retirement. This being the case, why would anyone choose to withdraw this sacred money, designated for their own retirement? In this case, Peter is not robbing Paul, but Peter is robbing Peter. As an accountant in the Denver area, typically, the reasons why this type of withdrawal takes place is because the employee:
  • Is facing some type of hardship
  • Has left the company and chooses to cash out their 401(k) rather than roll this over into a new retirement program (half of all employees do this)
  • Has decided it’s time for a much-needed vacation
  • Has chosen to do a home remodel
  • Has a child getting married
The reasons are endless for why employees choose to cash out their 401(k). But, when it comes to cashing out your 401(k), what looks like roses might turn out to be thorns.     Following are the damaging effects from cashing out your 401(k):
  • Instead of your savings growing, your savings is now penalized - typically, if your 401(k) is cashed out before you turn 591/2, your cash will be taxed and incur a 10% penalty, not counting the 20% the federal government will take, meaning for every $1000 you cash out, you will receive about $800.
  • Your money is virtually gone - once you withdraw from this savings account, the money is no longer there. Studies have shown that those who take out money from their 401(k) are less likely to replace this money, which means you have just robbed yourself of your own future
  • You lose more money than you withdraw – because of the compounding effect of a 401(k)—where the interest collected builds on itself and creates more money, this whole financially advantageous process for your future is lost
  • Your paycheck will be less – if your cash out involves a loan against your 401(k), you will now have to pay a certain amount on this loan, in addition to the amount you already owe on your original 410(k) plan
  • Money in a 401(k) is protected – should you face a financial hardship that might involve a future bankruptcy, a 401(k) is protected against creditors and bankruptcy.
  Just like every other area in the country, in Denver, most people consider their 401(k) to be “their own money that they can do what they want with.” However, as an accountant that sees the big picture, what isn’t understood is that this money should never be a part of your current situation. It is intended to be part of your future life, to sustain you, at a time when income might be harder to come by and yet expenses will keep rolling in. For more information on a 401(k), your future savings and stabilizing your current financial situation, contact a Denver accountant at Net Prophet at or call us at 720.409.8227.

Paying Your Tax Bill in Installments

At Net Prophet, there is a common, but sad, moment we experience. This happens, not only in Colorado, but all over the country. With expert attention to detail, after one of our Colorado CPAs completes the business owner’s tax forms and takes advantage of all the tax breaks possible, this fine and dandy Colorado CPA discovers that the business owner owes money to the IRS. Worst feeling in the world, right?   Immediately upon hearing this news, this poor Colorado business owner’s face drains to a pasty white as the business owner realizes there is no way in hell that he or she can pay this bill. With a look that says, “Are you kidding me? There goes my vacation,” our expert CPA then tells the business owner, “No worries,” the IRS has outlined three ways to repay this debt, one of which is an installment agreement. For years, Net Prophet has helped business owners, in Colorado and around the country, apply and arrange to pay off their debt. The IRS has specified that, for those businesses that owe less than $25,000 and have filed all their required returns, they can take advantage of this great plan. When it comes to using this option, there are a few additional items you will need to know:
  • All future refunds will be applied to your tax debt until the debt is paid in full
  • To prevent further penalties and interest, the minimum monthly amount must be paid on time
  • If your agreement goes into default, a reinstatement fee could apply
  • Penalties and interest continue to accrue until your balance is paid in full
When it comes to an installment agreement, no pun intended, but the buck literally stops with us. We can help ‘cause at Net Prophet we really do know what we’re doing. Tie your shoes on your own, wash your laundry by yourself, but do not set up your own installment agreement. Consider these two facts:
  • In 2013, 106,776 small businesses were audited
  • The average additional money demanded from these audited businesses was $5,500
Small business owners, entrepreneurs and non-profits, take note: like everyone else in Colorado and across the country, do not let your taxes become the federal government’s thorn in your business side. Come to us, at Net Prophet. We promise, we don’t bite, but our CPAs do break your taxes down into tiny pieces to make sure all your deductions and tax breaks are maximized and, should a debt be due, we help make sure all your bases are covered. In other words, we gotcha!