Accounting
Accurate and efficient accounting is one of major components of a successful business. It provides complete and timely information regarding the results of the company operations and its up-to-date financial position thus helping to make correct management decisions. It is also essential for tax compliance. IRS does not require businesses to keep financial records in any particular formant but demands clear records that accurately reflect income and expenses as well as summary of business transactions.
We will help you to set up accounting for your business using Quickbooks. Read more …
Quickbooks Setup
The first step of setup process is to choose the most suitable Quickbooks configuration. There are several versions of the program which differ in capacity and respectively in the cost. Using our experience, we will help you to choose the version most suitable for your business needs and, if necessary, will select and install modules that extend the capabilities of the main program.
If setup correctly Quickbooks substantially simplifies keeping daily financial records and provides the business owners with all necessary financial and tax related information. Read more …
Bookkeeping and Payroll
Our accounting service includes everything from collecting and recording data from your company source documents to producing reports that provide accurate and up-to-date information about all financial activities related to your business. We will record sales and purchases, customer invoices, vendor bills, payments on these accounts and all other disbursements. In addition, we will record all necessarily adjusting entries, depreciations, loan payments, etc. We will also calculate record and remit required business taxes (see Business Taxes section bellow). Read more …
Quickbooks Clean-up
QuickBooks provides an exceptional tool to manage accounting records. However, mechanisms that would prevent incorrect accounting entries are yet to be developed for this software. Among the most common areas where transactions can be misclassified there are using incorrect accounts, ignoring open invoices while recording customer payments, mistakes related to payroll and payroll taxes among many other. Read more …
Taxes
Business Taxes
Our services include federal taxes, state taxes and all local taxes, sales and excise taxes, as well as taxes related to payroll. We will help you determine to what tax authorities (federal, state and local) your business is accountable to and what tax forms you are supposed to fill depending on your specific business activity and operations location. We will insure accurate and timely payment of all required taxes, and preparation and submission of all relevant tax returns. We will also calculate and remit all required estimated tax payments. Read more …
Individual Taxes
Our firm offers preparation of tax returns of any level of complexity. This can include business income, income from rent, dividends, interest, capital gains, etc. We will make sure that all necessary federal and local returns are filed on time and that all available credits and deductions are fully utilized. We will also advise you on estimated tax payments to ensure that you will not be a subject of IRS penalties for not paying the taxes evenly throughout the year. As part of our service we will show you potential deductions to limit your tax liability for next year. Read more …