Vault is an integrated subscription-based solution that handles your taxes and accounting on your behalf. Through a subscription, Vault handles these items and provides you with the back-end tech, a personal tax advisor and bookkeeper year-round.

Vault is a rethink of how small businesses and the self-employed handle their taxes. The subscription model helps us create continuous relationships that in-turn allow us to formulate short-term and long-term personalized tax strategies for each of our clients. For instance, while tax savings may seem like a no-brainer at certain times- that may not be the best course of action all the time. Let’s say you’re planning to buy a house in a couple of years; a tax savings of $5k in the previous years may end up costing you $15k+ when you’re applying for that cherished first mortgage (because you likely understated your income). Proper tax planning ensures you have correct documentation when it matters.

At Vault, we work to make sure the proper tax strategy and your financial goals intersect. This is where our subscription model comes into play – it provides the basis for this relationship.

The subscription fees include the cost of registering a single member LLC or S-Corp. You also receive your own personal tax strategist and bookkeeper who are at your disposal year around.

All Vault plans also include:

1. 1 business tax preparation and filling (Federal and 1 state) ($1,250/annual value)
2. QuickBooks online Essentials (40/m value) or Plus ($70/m value) and Chart of Accounts set-up (COA)
3. Unlimited yearly support (reasonable additional support beyond the subsription plan hour limit at zero cost)

Starter plan includes: one 1hr/ bi-monthly review, partial book-keeping, discounted pricing on personal tax returns, 2 hrs free tax represention at any revenue tax agency in the USA.

Pro plan includes: one 1hr/monthly reviews, full book-keeping, payroll, 1 personal tax return preparation and filling, 5hrs free tax represention at any revenue tax agency in the USA.

Pro+ plan includes: two 1hr/ monthly reviews, full book-keeping, payroll, 1 personal tax return preparation and filling,  10hrs free tax represention at any revenue tax agency in the USA.

Third-party fees (such as fees and taxes charged by your city, state or the federal government), business license filing fees and other license fees and penalties, which vary by city are NOT included. Bookkeeping training is not included.  

Tax and business formation jargon is often confused and used interchangeably, even by seasoned advisors to refer to unrelated things. This is one of the many reasons that confusions occur and why registering a company and tax maintenance has traditionally been such a confusing process. At Vault tax, our goal is to make it easier to understand the basic terminology, so let us try to clear up the confusion.

• LLC, S Corp and C Corp are different ways of registering (structuring) a business based on legal, operational and financial necessities.

To put it simply, for tax purposes only, the act of registering a new business is called:

                      i. Incorporation: when a business is registered as an S Corp or C Corp.

                      ii. Organization: when the business is registered as an LLC.

• All registrations are done at the State level (usually the Secretary of State office of the respective State). The documents issued to you to verify/ certify the new business is therefore referred synonymous with this process.

                      i. For S-Corp or C-Corp registrations, you will receive an Article of Incorporation.

                      ii. For LLC’s registrations, you will receive an Article of Organization.

• Self-employed or independent contractor, freelance are not ways of organizing business. Mostly, they simply mean that you earn money but don’t work as employee for someone else (an employee for tax purposes would usually be someone receiving a form W-2).

• For tax purposes only, the term ‘corporation’ means the company was registered as an S-Corp or C-Corp etc. An LLC is NOT a corporation.

• LLC’s, S Corps and C Corps all have different tax requirements under the IRS and each State. Choosing the wrong classification for your business could cost you thousands.

1. Freelancers/ independent contractors/ self- employed who earn more than $95,000+/annually.

This includes photographers, videographers, writers, designers, coaches, consultants etc.

2. Small and Midsize business with gross sales between $250,000 – $30,000,000 annually.

Majority of our community has come by way of referrals so feel free to spread the joy.