FAQs Re: Firm Services

The following are Frequently Asked Questions (FAQ) regarding accounting, auditing, tax and consulting services:

Audit & Accounting related questions:

What communication should occur between the audit committee/board of an organization and its auditor?

What is the difference between compilation, review and audit services?

Tax questions related to individual taxpayers:

• What are 403(b) tax sheltered annuity plans and how do they work?
• What are the payment alternatives when I owe the IRS?
• What is AMT and when does it affect an individual taxpayer?
• What is an RMD and how does it work?
• How are same-sex couples treated under the Internal Revenue Code?

Tax questions related to nonprofit organizations:

• How do I read Form 990 and what does it mean?
• What is Form 990 and what are the filing requirements?
• What is Form 990-T and when is it necessary to be filed?
• What is unrelated Business Income (UBI) and what is its effect?
• What are 403(b) tax sheltered annuity plans and how do they work?

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Roy & Associates, PC serves clients in western Pennsylvania located predominantly in Westmoreland County, Allegheny County, and Fayette County.

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