Services
If you’re looking for a firm that will focus on your individual needs, and always treat you like a client who matters, look no further. Our firm is large enough to offer a full range of professional services, but small enough to give you the individual attention that you deserve.
We will thoroughly and conscientiously study your personal situation, and tailor our advice to your specific needs.
Tax Preparation & Planning
Whether you have an individual return or a complex business one, we are here to help! We are specialized in complex tax returns going above and beyond to find out the answers you need and ensure you or your company are fully taken care of. Our software is ready to go with the latest law updates. Common tax forms you should know about
| W2 | The W-2 is an IRS form your employer sends to you in January or February. The W-2 shows, among other things, how much your employer paid you during the year, what you contributed to your company’s retirement plan and the amount of taxes withheld on your behalf. A copy goes to the IRS, so be sure you report this information accurately. |
| 1099s | The 1099 tax form comes in several flavors, but the big five are the 1099-DIV, 1099-INT, 1099-OID, 1099-MISC, and 1099-NEC. These IRS forms are all records of income you’ve received from a source other than your employer, and whoever sent you one also sent the IRS a copy, so don’t forget to report it on your return. |
| 1098 Mortgage or Student Loan Interest You Paid | If you have a mortgage, you’ll get one of these IRS forms in the mail or your inbox. It shows the interest (over $600) you paid on your home loan during the year, and that mortgage interest is generally deductible. Students might get a 1098-T, which reports tuition payments they’ve made, or a 1098-E, which reports the interest they’ve paid on their student loans. Student loan interest and tuition payments may also be deductible. |
| 1095A | Health Insurance Marketplace Statement. Taxpayers will need this form to reconcile advance payments or claim the premium tax credit. |
Forms usually start arriving by mail or are available online from employers and financial institutions in January. Taxpayers should review them carefully. If any information shown on the forms is inaccurate, the taxpayer should contact the payer ASAP for a correction. You can count on us to make sure you get the best possible return on your taxes!
Bookkeeping/Write-Up
Accurate books means stress free tax time Let us save you time from hours of paperwork each week and give you peace of mind in knowing that your bookkeeping is being done accurately and on time! To succeed in business, one of your most important tools is financial analysis, based on your business records. Accurate financial records will help you answer these very important questions, such as: ○ Are you making money, or losing it? How much? ○ Is your business on sound financial ground? ○ Is financial trouble lurking ahead? You will get the 3 Major Financial Statements (Income Statement, Balance Sheet and Cash Flow Statement)
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Profit and Loss A profit and loss statement is a financial report that shows how much your business has spent and earned over a specified time. It also shows whether you’ve made a profit or a loss over that time
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Balance Sheet The balance sheet is a financial statement that provides a snapshot of what a company owns and owes, as well as the amount invested by shareholders. Balance sheets can be used with other important financial statements to conduct fundamental analysis or calculate financial ratios. |
Cash Flow Statement The cash flow statement provides a view of a company’s overall liquidity by showing cash transaction activities. It reports all cash inflows and outflows over the course of an accounting period with a summation of the total cash available. |
Business Consulting
Business success depends on timely identification of both problems and opportunities, and efficient development of strategies to respond to both. As your trusted business consultant, we combine dedication to your success with wide-ranging business acumen to offer honest, objective advice on everything from minor restructuring to preparing a business for sale.
We will take the time to learn about your company’s unique challenges, goals and current strategies. We then draw on years of business analysis experience to help you address inefficiencies, and identify and capitalize on hidden growth potential. We empower you and your team to make well-informed choices for the future of your business.
Whether you need short-term assistance with a major transition, or a long-term partner in strategic planning, we can help you unlock the full potential of your business.
Business Entity Selection
What Entity Type Should I Select?
Starting a new business is an exciting, rewarding, and somewhat stressful endeavor. There’s a long list of decisions to be made early on, but one of the most important is selecting the right business structure. The type of business entity you select can impact everything from how to establish owner compensation to how much you’ll pay in taxes.
Choosing the right entity type for Your Company depends on several factors, including tax implications, liability protection, and long-term business goals. Here are the most common options and their key features:
1. Sole Proprietorship
- Pros: Simple to set up and operate, lower administrative costs.
- Cons: No liability protection; personal assets are at risk.
- Tax Implications: Income is reported on your personal tax return (Schedule C).
Best for: Single-owner businesses starting small, with minimal risk.
2. Partnership
- Pros: Easy to form, shared responsibility among partners.
- Cons: Partners are personally liable for debts and actions of the partnership.
- Tax Implications: Income is passed through to partners and reported on personal returns. File Form 1065, US Return of Partnership Income.
Best for: Two or more people collaborating on a business venture.
3. Limited Liability Company (LLC)
- Pros: Liability protection for personal assets; flexible taxation (can be taxed as a sole proprietorship, partnership, or corporation).
- Cons: Requires state registration and annual fees.
- Tax Implications: Pass-through taxation by default; can elect corporate taxation.
Best for: Small to medium-sized businesses looking for liability protection with simple tax filing.
4. S Corporation
- Pros: Liability protection; avoids double taxation (income is passed through to owners); possible payroll tax savings for owners.
- Cons: Stricter operational requirements; limits on shareholders.
- Tax Implications: Pass-through taxation; owners pay themselves a salary and take distributions.
Best for: Established businesses with predictable prots seeking tax advantages.
5. C Corporation
- Pros: Strong liability protection; unlimited growth potential (can issue shares); fringe benefits for employees.
- Cons: Double taxation (corporate prots and shareholder dividends).
- Tax Implications: Pays corporate tax; dividends are taxed to shareholders.
Best for: Businesses planning significant growth or seeking outside investors.
Notary Public
A notary public can help you to handle various business matters, including witnessing and authenticating document execution and signatures.
Many contracts and other business documents require notarization in order to take effect. If your company does not have an in-house notary public, we can provide one whenever needed. Even when notarization is not legally required, having a notary public witness and authenticate the execution of an agreement ensures that your company’s interests will be well protected if the terms of the agreement are ever disputed.
We can also provide useful services for your staff, including authenticating absentee ballots and legal documents. Offering this service to your personnel can reduce lost worker-hours, as employees will not need to find a notary public at a bank or other institution.
Payroll Services
Payroll administration poses ongoing challenges for business owners, due to constantly changing federal, state, and local tax laws and other regulations. Often, highly impactful changes to payroll management rules and procedures occur during times of economic distress, when your key personnel’s attention is divided between a wide array of issues.
Our payroll services professionals will work with your staff to implement sound payroll administration practices that can be swiftly adapted whenever the need arises. We closely monitor changes in payroll regulations, tax laws, and compliance requirements, ensuring that your business stays informed and compliant with any updates that could impact your payroll processes and employees.
By ensuring that payroll runs smoothly through every change in regulations, economic realities, and the size of your staff, we can help you stay focused on growing your business.