Previously I’ve written on6 Keys to Hire an Accountant, now let’s discuss the different ways you can work with an accountant. There are many things an accountant or CPA can do for you, but we will focus on the ones that pertain to small business owners. Here is a list of services generally offered by tax and accounting services:
Bookkeeping: Maintaining the general ledger and preparing monthly financial statements. Usually Involves reconciling the bank statements.
Software Support: Helping you keep your own books in a software like Quick Books. This often includes accounting questions in addition to how to use the software.
Tax Preparation: Preparation and filing of income tax returns.
Payroll: Preparation of payroll checks and filing of required forms. May include payment of payroll taxes.
Other Tax Filing: Common types include sales tax and various state and local required taxes.
Financial Planning: Generally things like budgets and cash flow projections. Can also include advisory services on things like profit maximization.
Investment Advice: Not all tax and accounting service offer financial services, but those that do should focus on integrating the investment plan with tax planning. You can read more about the subjectin this article.
Tax Planning: Using your financial statements to project your future taxes and provide you options for tax minimization and cash flow maximization.
Our unique Core Tax Process™ is designed to not only minimize your taxes but to make sure that you understand your options and the impact that they have on your business. Here is what we do:
Unlimited Phone/Email Consultation
Annual Business Tax Plan with multiple scenarios
Optional Multi-Year Tax Plan
Semi-Annual Tax Projection
Business Tax Preparation
Core Financial Process™ included
In addition, we include the Core Financial Process™, if necessary, to ensure that your financial records are timely, accurate, and complete. We provide this at no additional charge. Here’s what is included:
Direct Bank Feeds
Monthly Bank Reconciliations
Accountant monthly review for tax minimization
Full Accrual Accounting
Fixed Asset Tracking
1099 Vendor Tracking
Sales Tax Filing
Quarterly and Annual Payroll Filing
Time Tracking and Benefit Accrual
Learn more about our patentedCore Tax Process™or schedule your free, 30-minute consultation to see if we can save you money on your 2020 taxes.