Tax prep
Returns prepared from the books
The books already hold the numbers. Mastro puts them on the agencies' own forms, traces every line to its accounts, and tells you what a person still has to finish.
The returns
Business, personal, state, and local
Business returns
Schedule C, Form 1120-S and Form 1065 with each owner's K-1, Form 1120, an estate's or trust's Form 1041 with each beneficiary's K-1, and a nonprofit's Form 990, 990-EZ, 990-N, or 990-PF with its schedules and Form 990-T.
The Form 1040
A person's return from the income their businesses report, their W-2s, and what the firm enters, with depreciation on Form 4562 and the K-1s that feed it.
State and local returns
Resident and nonresident state returns and each LLC's own state return, state by state on each agency's own forms, and the cities' and counties' business taxes and property returns Mastro has built. Where it doesn't prepare one yet, it names the return the firm prepares.
Sales tax and 1099s
Sales tax returns for each agency and period, with payments and adjustments. 1099s for the vendors who earned one, with W-9s collected by link, the IRS's TIN matching, and recipient copies.
Every line traced
Each line opens to the accounts and confirmed forms behind it. Anything that would make a number wrong stops the return, and what only a person knows is listed for the preparer.
Tax planning
A projection of the year's tax and the dollar value of each legal move that lowers it, through the same engine that prepares the return. The firm picks what to recommend, and the client sees it in their portal.
Tax-ready books
Books a return can be made from
- Each account's tax lineSuggested from what Mastro knows about the account, and checked by the firm.
- Fixed assets and depreciationBook and tax depreciation side by side, from the IRS's own tables, with the section 179 and special allowance limits.
- The payroll tie-outW-2 wages checked against the ledger.
- Your own tax softwareThe year's trial balance by tax line, as UltraTax CS and Lacerte import it, with the amounts to enter for ProSeries and Drake Tax.
Signing and filing
The firm reviews, the taxpayer signs, the firm files
Your firm stays the preparer and files each return on its own account. Mastro keeps the work around the filing in one place.
- Review
Line by line
The firm reviews each return and downloads the agency's own forms.
- Sign
In Mastro
The firm and the taxpayer sign Form 8879 in Mastro, on the IRS's current revision, and the sealed copy is filed with the return.
- File and log
Every filing and deadline tracked
The firm files through its own channel and logs the filing in Mastro, with the confirmation and the agency's answer. Corrections are compared against what was filed.
Questions
Tax prep, asked
Does Mastro file the return?
Your firm does, through its own channel, and logs the filing in Mastro. Mastro prepares the return and the signatures happen in Mastro.
Which states does it prepare returns for?
The states Mastro has built, each on its own agency's forms, and it names every state's return for the firm to prepare where Mastro doesn't yet.
What does it cost?
$19 a client a month, or $190 a year ahead. Two or more modules on a client cost less.
Does AI prepare the return?
No. Returns are arithmetic on the year's law and the client's books, and no model runs on them.
Can a client still use our tax software?
Yes. Mastro hands over the year's trial balance by tax line for UltraTax CS, Lacerte, ProSeries, and Drake Tax, in the form each takes.