Business Tax Preparation
Your time should best spend on growing your business and maximizing profits rather than managing your own books. That’s why we offer bookkeeping services to take that burden off your shoulders. Our monthly or quarterly bookkeeping services include:
- Bank account reconciliation
- Income statement generation
- Balance sheet generation
- General ledger cleanup
- Unlimited consultations
These essential tasks provide the foundation of your business accounting system. You can also tailor your service package by adding services like payroll, tax planning, tax preparation, or any of our other services.
Bank Reconciliation
Reconciling your business checking account each month allows us to keep your bank account, accounting, and taxes up to date. Having us reconcile your account each month allows you to…
- Identify lost checks, lost deposits, and unauthorized wire transactions.
- Detect and prevent excess/unjustified bank charges and ensures transactions are posted correctly by your bank.
- Detect and prevent embezzlement of funds from within your company.
- Know how your business is doing? You cannot really know unless all accounts are reconciled and properly accounted for on your financial statement.
- Manage your cash more effectively. Proper management of funds not only saves money, but it also makes money for you.
- Protect yourself. By timely reconciling and promptly objecting to your bank about any unauthorized, fraudulent, or forged checks presented to your bank and paid by that bank, you can relieve your agency of responsibility for the shortfall and transfer the risk to the bank. This reason to reconcile alone should be enough. Crime exists.
Income Statement
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
A balance sheet gives you a snapshot of your business’ financial condition at a specific moment in time. It is a financial statement that shows a taxpayer’s total assets, liabilities, and equity as of a specific point in time. The balance sheet provides a snapshot of the taxpayer’s financial position and helps determine their tax liability. It typically includes items such as cash, investments, property, accounts payable, and tax owed. The goal of the tax balance sheet is to help taxpayers keep track of their finances and ensure they are accurately reporting their income and expenses to the government.
Our Tax Services are designed to assist you effectively.
- Individual Tax Return Filing (Form 1040)
- Partnerships Tax Return Filing (Form 1065)
- S-Corporations Tax Return Filing (Form 1120S)
- C-Corporations Tax Return Filing (Form 1120C)
- Charities & Non-Profit Organizations Tax Return Filing (Form 990)
- Non-Residents Tax Return Filing (Form 1040NR)
- Tax Planning
- Refund claims
- Filing of Sales Tax Return at State Level
- Registration for Sales Tax
