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Tax Advisory Solutions
We are always available to spend time with you so you fully understand how to interpret and utilize the financial information we provide.
Small Business Accounting
As a small business owner you have more important things to do than to keep your own books. We take care of your books for you, so you can get back to the job of running your business and generating profits.
Each month or quarter we’ll do the following things for you…
•Reconcile your bank account
• Generate an income statement
• Identify specific items that are causing unexpected expenditures. Like phone, fax, mail, or supply expenses.
• Generate a balance sheet.
• Clean up your general ledger
• Provide unlimited consultations
These tasks form the solid foundation of your small business accounting system. You can customize the package of services you receive by adding payroll, tax planning, tax preparation, or any of our other services.
Bank Reconciliation
An income statement, otherwise known as a profit and loss statement, basically adds an itemized list of all your revenues and subtracts an itemized list of all your expenses to come up with a profit or loss for the period.
An income statement allows you to…
• Track revenues and expenses so that you can determine the operating performance of your business.
• Determine what areas of your business are over-budget or under-budget.
• Identify specific items that are causing unexpected expenditures. Like phone, fax, mail, or supply expenses.
• Track dramatic increases in product returns or cost of goods sold as a percentage of sales.
• Determine your income tax liability.
Balance Sheet
An income statement, otherwise known as a profit and loss statement, basically adds an itemized list of all your revenues and subtracts an itemized list of all your expenses to come up with a profit or loss for the period.
An income statement allows you to…
• Track revenues and expenses so that you can determine the operating performance of your business.
• Determine what areas of your business are over-budget or under-budget.
• Identify specific items that are causing unexpected expenditures. Like phone, fax, mail, or supply expenses.
• Track dramatic increases in product returns or cost of goods sold as a percentage of sales.
• Determine your income tax liability.
Maintaining a Clean General Ledger
The general ledger is the core of your company’s financial records. These records constitute the central “books” of your system. Since every transaction flows through the general ledger, a problem with your general ledger throws off all your books.
Having us review your general ledger system each month allows us to hunt down any discrepancies such as double billings or any unrecorded payments. Then we’ll fix the discrepancies so your books are always accurate and kept in tip top shape.
Unlimited Consultations
We are always available to spend time with you so you fully understand how to interpret and utilize the financial information we provide. Our consultations are already included in our price, so please feel free to call us whenever you have a question or concern.
Part-Time CFO Services
Bank Reconciliation
Growing businesses often reach a point where they need professional financial advice, but can’t afford a full-time CFO or controller.
If you’re fortunate enough to be in this position then we have the perfect solution for you. Our Part-Time CFO service gives you a professional financial manager who works with you to help guide your business to success.
The cost of hiring a full-time CFO can range from $60,000 to over $100,000 per year plus bonuses and benefits. Our Part-Time CFO services provides you with experienced support at a small fraction of that cost.
Here’s what you get with our Part-Time CFO services…
• More time to focus on new services, new customers and other core business issues.
• Better understanding of the financial side of your business. So you have less surprises and more control over the money.
• Improved decision-making capabilities from clearly seeing the hard and true numbers of your business.
• A readily available sounding board to help you with those tough business decisions and help you clarify your business plans.
• The comfort from knowing that a professional is overseeing, protecting and constantly improving the financial side of your business.
• A professional who establishes strong financial controls in your business to reduce employee theft and increase profits.
• Training and managing your accounting staff.
• Improved quality and timeliness of financial information.
• Budget preparation and monitoring.
• Profitability analysis by service or product line.
• Tax saving strategies.
• Trend analysis.
• Assistance in defining long-range plans and the quantification of goals.
• Cash management.
• Liaison with bankers, attorneys, vendors, insurance agents, etc.
• Assistance in obtaining financing from banks, including assistance with negotiations.
• Review/negotiation of insurance policies.
• Development of company accounting procedure manuals.
• Analysis of equipment purchases, expansions, etc.
• Mergers and acquisitions assistance
• Custom designed collection policies and procedures
Tax Preparation
Personal Tax Preparation
Preparing your own income tax return can be a task that leaves you with more questions than answers. According to a study released by the US Government’s General Accounting Office last year, most taxpayers (77% of 71 million taxpayers) believe they benefited from using a professional tax preparer.
Whether we like it or not, today’s tax laws are so complicated that filing a relatively simple return can be confusing. It is just too easy to overlook deductions and credits to which you are entitled. Even if you use a computer software program there’s no substitute for the assistance of an experienced tax professional.
Here’s what you get:
• Your tax return will be checked and rechecked by our computer software identifying potential problems the IRS may look at more closely and reviewing the math to limit IRS contacts.
• Your tax return can be filed electronically so you will get a refund back quicker.
• Our staff will show you how to adjust your payroll withholding to get more money back each week. Why give the IRS an interest free loan for up to 16 months.
• We will show you potential deductions to limit your tax liability for next year. In addition, we will give you a sheet of commonly overlooked deductions to limit the following year’s tax liability
Books a Mess?
No Problem!If you own a small business and haven’t kept up your bookkeeping, don’t worry. We can help you. We’ll prepare your bookkeeping for the year, prepare a full Schedule C, as well as your personal income tax return. Then we’ll help you set up an easy system that allows you to keep your books in tip-top shape next year. If you’d like to receive more information about our Tax Preparation Service, please complete this form.
Business Tax Preparation
Preparing your own income tax return can be a task that leaves you with more questions than answers. According to a study released by the US Government’s General Accounting Office last year, most taxpayers (77% of 71 million taxpayers) believe they benefited from using a professional tax preparer.
Whether we like it or not, today’s tax laws are so complicated that filing a relatively simple return can be confusing. It is just too easy to overlook deductions and credits to which you are entitled. Even if you use a computer software program there’s no substitute for the assistance of an experienced tax professional.
Here’s what you get:
• Your tax return will be checked and rechecked by our computer software identifying potential problems the IRS may look at more closely and reviewing the math to limit IRS contacts.
• Your tax return can be filed electronically so you will get a refund back quicker.
• Our staff will show you how to adjust your payroll withholding to get more money back each week. Why give the IRS an interest free loan for up to 16 months.
• We will show you potential deductions to limit your tax liability for next year. In addition, we will give you a sheet of commonly overlooked deductions to limit the following year’s tax liability
Books a Mess?
No Problem!If you own a small business and haven’t kept up your bookkeeping, don’t worry. We can help you. We’ll prepare your bookkeeping for the year, prepare a full Schedule C, as well as your personal income tax return. Then we’ll help you set up an easy system that allows you to keep your books in tip-top shape next year. If you’d like to receive more information about our Tax Preparation Service, please complete this form.
QuickBooks Setup
Although QuickBooks is designed for the layman to understand, the initial setup and installation must be done correctly in order for future information to be accurate.
All information necessary to setup manual accounting records is also necessary to setup and install QuickBooks on your desktop. This task is even more complicated if you switch from manual accounting operations to QuickBooks in the middle of the year.
Which accounting method will you use? What chart of accounts do you need for your business? How do you handle beginning balances?
An expert can easily answer all of these questions and complete the initial Setup and Installation in a timely manner. In addition, your accounting employees receive training on the accounting software to enhance their performance.
How much does it cost?
We first want to find out a little more about your business and your accounting records before we quote you an exact price. Rest assured that we work with many small business owners and our rates are designed to fit the budgets of our clients.
As with any accounting software program, installation and training take time – time taken away from managing your business. Here’s a short list of the services we provide during your QuickBooks setup:
•Study and evaluate your software and accounting needs.
• Recommend software and hardware requirements.
• Install software, design and set up chart of accounts and entire accounting package including payroll, accounts receivable, inventory, accounts payable, etc.
• Determination of your QuickBooks starting date
• Loading your chart of account and balances as of that starting date
• Preparation of a list of the items that you sell to your customers. This list includes services, inventory parts, non-inventory parts, other charges and sales taxes
• Entering your outstanding accounts receivable and accounts payable details as of your starting date
• Entering your ending statement bank balances and outstanding checks & deposits in transit as of your starting date
• Printing a trial balance as of your starting date and comparing it to your trial balance from your old system
• Entering your transactions since your starting dates into QuickBooks
• Train client or client staff in use of software to meet their accounting, management and tax needs.
Ongoing Services:
• Follow up training to ensure the client is “on the right track”.
• Monthly, quarterly or annual review of client QuickBooks data to assist in tax preparation and management reports.
Our Tax Workflow
01
Initial Consultation
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02
Assessment & Analysis
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03
Planning
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04
Implementation
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Ready to Tackle Your Taxes with Confidence?
Schedule a Consultation with Our Experts Today
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