Much More Than Just a Tax Return
Due to the diversity of knowledge our partners and staff bring to our firm, we are able to offer a wide variety of services to our corporate business clients. For the small business, or start-up business, we are able to provide complete bookkeeping services, including write up and payroll recording. We can prepare all required quarterly and year end payroll and sales tax returns and, of course, the final year-end corporate fiduciary, or partnership, return. We also help new businesses navigate through the often overwhelming decisions required in starting a business. This includes deciding on the type of entity to use, along with all the necessary governmental and insurance filings required.
For our larger corporate clients we will provide accounting support for their own accounting staff and work with their accounting staff to make the most effective use of their computer systems and programs. We will, of course, either prepare all of the required tax returns as mentioned above, or review those returns if prepared by the client’s staff.
We do not stop working for our clients once the tax return is filed. We are always available for consultations concerning any business or personal developments or concerns. We will constantly review our client’s business as it compares to other businesses in that particular industry, the current business climate and current tax laws. We will then offer advice in the areas of tax and estate planning, banking, insurance, retirement/investment advisory relationships, computer technology updates and enhancements, and business continuation strategies. We will also represent our clients if they have unfortunately been selected for a tax audit. We have handled many audits for all types of business taxes, both federal and state, and all types of insurance audits.
Where needed, our professional staff is there to provide our business clients with a full range of bookkeeping services. We can provide complete write-up services, including cash receipts, cash disbursement and payroll to the small start up business, if requested. We can also train the client’s own staff in this area. We can advise our business clients about which computerized accounting programs would be best for them. We can help them install these programs, train their staffs in how to use them and monitor their progress. We can also provide the necessary year end closing services and support needed to prepare annual financial statements or tax returns.
Our professional staff is trained and is available to support our business clients with their accounting operations. Whether this entails support and review of their accounting systems, both manual or computerized, design of new systems necessitated by business growth or expansion, or changes in the clients accounting personnel.
Business and Corporate Tax Returns
We can prepare all of the various tax returns any business would require. These include the usual corporate, payroll and sales tax return that most people are familiar with. But, we also can prepare the returns for exempt organizations, deferred compensation and pension plans, highway use, truck mileage, unincorporated businesses, commercial rent, estate and gift taxes.
Business Consulting/Tax Planning
During our many years of service to our business clients we routinely educate and advise them about the interrelationship of the various taxes and how sometimes an action may minimize one tax while increasing another tax. We have developed the expertise necessary to advise our clients how to operate their businesses in the best way so as to minimize the total tax liability taken as a whole. Once implemented, we continue to monitor the business operations and advise our clients of any changes or modifications we feel are needed.
We can advise our clients of the various types of pension plans that are available to them and discuss the advantages and disadvantages of each type. We have worked with an actuarial firm for over 30 years to design, implement, review and modify hundreds of plans so as to provide the business owners and their employees with valuable retirement benefits. This provides a value service to these individuals while also saving the business and its owners thousands of dollars in taxes.
IRS, NYS & Insurance Audits
No one likes to have a Federal or State tax or insurance auditor appear at their door, but it is a necessary fact in business that it does happen. When it does happen we will contact the audit agency and arrange to handle the audit at our office. This eliminates a great deal of the anxiety these audits produce. We have represented our clients in hundreds of audits. These audits have included government taxing agencies such as the Internal Revenue Service, New York, New Jersey, Florida, Connecticut and New York City. They have included unemployment related audits by the U.S. Department of Labor, New York State Department of Labor and the New Jersey Department of Labor. We also will represent our clients for their annual insurance audits regarding their worker compensation, liability and disability policies.