Tax Return Preparation
There are several different types of business tax returns based on the structure of the entity that was created to conduct business. We can help you decide which type of business entity is best suited for your new business, as well as prepare the tax returns going forward. The following is a listing of different types of business entities:
- Sole Proprietor
- Partnership
- "C" Corporation
- "S" Corporation
- Limited Liability Company
Financial Statements
A financial statement is an analysis used by Internal Management and/or External Sources, such as a bank or bonding company, when evaluating a Company’s financial performance. We offer compilation and review financial statement services to assist our clients when making financial decisions regarding company performance and continuing operations.
Sales Tax Return Preparation
Sales tax return preparation can be as complex as income tax preparation. We assist our clients in understanding the three types of sales (taxable, exempt and capital improvement), how to record the sales tax collected along with the use tax paid, and how to file the returns.
Payroll Tax Returns Preparation
We not only prepare quarterly and annual payroll tax returns for small businesses (Forms 941, 940, NYS-45 and W-2s), but we also guide management on other payroll related items such as Sect 125 Premium Only Plans, Employee Withholding, and Workers ’ Compensation Audits.
Form 1099 Preparation
Businesses are required to issue Form 1099s to individuals and certain other businesses who are paid in excess of $600. While reviewing your books and records, we will make recommendations regarding the issuance of 1099’s for your business when appropriate.
Bookkeeping Services
We tailor our bookkeeping services to our clients’ individual needs. Our services range from inputting transactions into QuickBooks, making journal entries, bank reconciliations, or simply reviewing year end reports.
Assistance with Setting up and Maintaining Accounting Software
Once a new business has been created, one of the most critical components includes setting up the accounting and bookkeeping system. We can tailor your business books to your business’s specific needs by customizing your chart of accounts and your software program.
Remote Access for Businesses
One of the biggest obstacles and unforeseen challenges of the 2020 coronavirus pandemic was the inability to schedule in-person client meetings to review their books and records. We have worked to overcome this obstacle by making use of remote technology in order to assist you in continuing your business operations safely and smoothly.
Retirement Plans
There are many different ways to shelter money and setting up a retirement plan is one of them. We can assist you in determining which retirement plan is best for your business, your employees and your retirement.
