In today’s world, tax laws are becoming more and more complex. These complexities make filing even a relatively simple tax return a cumbersome job. Even if you use a software program, it is still easy to overlook deductions and credits you are entitled to claim. Don’t miss out…there’s just no substitute for the advice and assistance of a tax professional.
We can help!
• Our software will check and double check your return thoroughly to ensure all potential problems with the IRS have been identified in order to limit the chance of being contacted by the IRS.
• We will help you plan for next year whether that involves informing you of deductions to begin keeping track of or changing your withholding to increase or decrease your refund or reduce your tax liability.
• You’ll have the option to file electronically in order to expedite the receipt of your tax refunds.
We are always looking for ways to save your tax dollars. The best way to do that is by planning. Thorough tax planning we can assist you in…
• Reducing taxes on your retirement income so you can retire in the manner you always dreamed of.
• Growing your investments and protecting them from taxes.
• Defer some of your income so you can pay fewer taxes both now and later in life.
• Reducing taxes on your investments to allow them to grow quicker.
• Reduce taxes on your current income so Uncle Sam gets less of your money.
IRS issues will not just disappear if you sweep them under the rug. Penalties and interest continue to accrue. It may take a number of years for tax issues to catch up with you but once they do the IRS will stop at nothing to collect on a balance they think they are entitled to. There are solutions available. We would like to take this opportunity to assist you in resolving you tax issues.
• Have you failed to file a few years of taxes?
• Do you owe back taxes?
• Are you having issues with payroll taxes?
• Have you been notified that you are being audited?
• Is the IRS threatening to garnish your wages or retirement, levy your bank account or seize your personal assets?
Small Business Accounting
Accounting is one of most important aspects of starting and operating a business. It is so easy to get caught up in the start up, glamorous tasks of designing a business card or choosing a business name, yet without a solid understanding of the numbers you will not survive.
As a small business owner you have more important things to do than maintaining monthly bookkeeping. We take care of your books for you, so you can get back to the job of running your business and generating profits!
Monthly or Quarterly Service Packages:
• Reconcile Bank Accounts • Generate Income Statements • Maintain General Ledger
• Formulate Balance Sheets • Provide Consultations • Track & Record Business Expenses
Complete service packages can be customized to suit your business needs by adding payroll, tax planning, tax preparation, or any of our other services.
Save time on bookkeeping and paperwork because many of simple bookkeeping tasks are handled automatically making it easier to run your business.
Easily generate the reports with the information you need, so you always know where your business stands. You instantly know whether you're making money and can evaluate the health of your business
You can pay your bills and bank online. Setup your current bank account in QuickBooks, and you're ready to pay your bills without licking envelopes, sticking stamps, or printing paper checks. Just write checks in QuickBooks as you normally would, then click a button and your participating bank does the rest! Pay anyone in the U.S. from your credit card companies to your pizza service. Online Banking also lets you download your monthly statement from your participating bank directly into QuickBooks for easier reconciliation.
Customized Services include:
- QuickBooks Setup - QuickAnswers - QuickBooks Tips
- QuickBooks Training - QuickTuneup -Payroll Setup
Payroll Solution Overview:
Our payroll solutions ensure that your payroll needs are met, helping you to streamline your payroll process, and improve productivity. We manage the time-consuming tasks of payroll processing and employee payroll tax filing so you can focus on your business.
Payroll Processing Choices to Fit Your Unique Business:
We offer a comprehensive set of payroll-related services. These payroll services can be purchased a-la-carte according to your needs or you can take advantage of the synergies of working with a single-source provider for all of your HR, payroll and benefits needs.
A Variety of Payroll Payment Options:
We offer a variety of employee payroll payment solutions that is unique to your needs. When you use our payroll processing services, you can receive professionally printed checks, or choose one of our employee payment solutions.
Typically, weekly or bi-weekly companies are required to make payroll tax deposits. We make your payments each period to ensure your business payments are received on time. Significant penalties may apply if required deposits are not made in a timely manner. In order to avoid penalties, it is wise to make timely payroll tax deposits.
We understand that one of the most dreaded letters you can receive is one beginning with the words "your tax return has been selected for audit."
It has been our experience that most tax returns selected for audit were chosen because items on the return were viewed as being “suspicious” by the Internal Revenue Service or a state-taxing agency. As a result, it may be very dangerous to attempt to represent yourself in an audit.
Businesses and taxpayers representing themselves without any knowledge about how the “system” works are at a major disadvantage. People representing themselves also run the risk of being criminally prosecuted for “making a false statement.”
Our firm has a successful history of representing countless numbers of taxpayers through the audit process. Our consultants assist clients with developing strategies for audits and Internal Revenue Service Appeals with unmatched success.
Need money to grow your business?
It pays to be prepared and organized in your approach for financing. Requesting a business loan without adequate preparation sends a clear message to the lender: High Risk!
Our proposals have a high likelihood of success because they are created from the lender's perspective. Put your best foot forward by allowing us to prepare a winning loan proposal for you. You get the money you need because we know exactly what banks want to see.
Our winning loan proposals come complete with...
• Executive Summary: Where we concisely state the purpose of the loan, the exact amount of money required, an explanation of what the loan will be used for and why it's needed.
• Pro-forma Cash Budgets and Financial Statements: We use your data and underlying assumptions to prepare information that your banker can easily read and buy in to.
• Owners Personal Financial Statements: We make copies of the last 3 years of personal tax returns for the bank as well as identify the collateral being pledged as security for the loan.
• Representation: We help substantiate your financial needs/position to your banker in person.
Strategic Business Planning
Entrepreneurs and business managers are often so preoccupied with immediate issues that they lose sight of their ultimate objectives. That is why a business review or preparation of a strategic plan is a virtual necessity. A business is much more likely to fail with out a strategic business plan.
Without a strategy, your business has no direction. Strategy tells where you want to go. Without a strategy, your chance of achieving your goals is significantly diminished.
A Strategic Business Plan is much more than a tool to obtain financing. If you still have all your plans and ideas locked up inside your head... preparing a strategic plan helps you clarify your company's direction, ensures your key leaders are all "on the same page", and keeps both management and staff focused on the tasks at hand.
A Strategic Plan is often needed when...
• Starting a new venture, product or service.
• Expanding a current organization, product or service.
• Buying a new business, product or service.
• Turning around a declining business.
The Strategic Plan provides a blueprint, describing your company, its products, the competitive environment, management team, financial health, and business risks.
Like many private business owners, you may be thinking about transitioning to the next stage of your life — this is what succession planning is all about.
Whether you are close to retirement or looking into the future, the choices can be daunting. The decisions you make will affect the future of your business, customers, employees — and most importantly your family.
Our trained facilitators offer professional and confidential services to help you decide what’s most important for all concerned. We help you think through the factors that influence planning decisions, and facilitate discussions with key people who will be affected by those decisions. We won’t tell you what to do, but we will inform and prepare you to make your own decisions.
We help you address issues in the key areas of business strategy, communication, ownership, management and family. Our services include:
The question of who will own the business after the current owner or owners leave is rarely simple. Whether it is passed down within the family, transferred to non-family managers or sold to an outside purchaser, this decision should be based on more than a tax-saving strategy. We can help you examine and evaluate your options and consider how to structure a transaction that meets everyone’s needs.
The first step in deciding who will run the business is to identify your management needs and ensure they are aligned with your long-term business strategy. Then you need a plan to attract and retain talented people — talk to them about what’s going on and groom them to take on senior roles. A well-planned succession improves the likelihood of a successful transition and increases the value of your business to investors or purchasers.
Family businesses are complex — especially when it comes to management and ownership issues. Family members need to be involved in decision making — whether or not they are actively involved in the business. We can help engage your family in dialogue about important business matters and create a forum for dealing with family issues outside the office.
New Business FormationStarting a business is something many individuals work toward their whole lives. With so much at stake, a new business owner should seek the services of an accountant who understands the intricacies of business development. Our firm provides services that not only take into account all aspects of the initial formation, but the specifics of your daily operations as well.
We provide clients with a range of comprehensive services designed to support the process of starting a business, including:• Entity structure selection
o Sole proprietorship • Business filings
o Partnership • Operating agreements
o S Corp. • Shareholder agreements
o C Corp. • Mergers
o Limited liability corporation(LLC) • Business alliances
o Limited liability partnership(LLP)
Legal and tax professionals agree: if your business is not incorporated, you may be throwing away thousands of dollars in tax savings and deductions. In addition, all of your personal assets such as your home, cars, boats, savings and investments are at risk and could be used to satisfy any law suits, debt or liability incurred by the business.
Forming a separate legal entity can provide both liability protection and tax savings. Plus, you will have peace of mind and can focus on making your business even more successful.
The IRS uses very specific revenue and expense classifications to determine if your organization will retain its tax-exempt status. So it's imperative that you build your accounting system around these revenue and expense classifications.
Non-profit services we do for you...
• Review and compile your financial statements
• Design, install, and maintain your Accounting System
• Weekly, bi-weekly, or monthly payroll preparation
• Payroll Tax Preparation and Deposits
• Provide training for your accounting personnel
• Complete and file your non-profit status application
• Provide training for your board on non-profit financial statement usage and effective budgeting practices
• Prepare and file the 990 and 990T tax forms
• Prepare your initial start-up documentation, including incorporation, federal employee identification number (FEIN), and payroll setup with federal and state agencies.
• Churches: We prepare the pastoral housing allowance and other required benefit documentation to meet the complex dual status of ministers.
If you're starting a new not-for-profit organization we can help you prepare your organization's 501 (c)(3) application for tax-exempt status.