Small Business Accounting Services
As a small business owner, strong accounting support from a financial professional is essential. But, to run your business well you need more than just numbers from your CPA firm. If you’re trying to find ways to grow you want meaningful financial information that shows where your money is going so you can plan for the future. Consolidated CPA Service Inc offers the accounting and bookkeeping services that will shed light on your business finances. Our goal is to help you to manage your money better so you can conquer financial obstacles and keep your business moving forward.
We offer sophisticated accounting solutions that will give your business an edge. You’ll get the tools you need to identify financial trends, monitor cash flow, and control costs so your business stays lean and profitable. You’ll also have more time to market your business and bring in new customers because you won’t be stuck doing the bookkeeping. With our proactive tax planning services, your business will always be in compliance but will never pay more than current regulations require.
Our Miami, FL CPA firm provides accounting services and bookkeeping for all types of small businesses. Call us at 305-763-1449 now and tell us about your business or request a free consultation online.
- Compile, Review and Audit of Certified Financial Statements
- Monthly Write-Up accounting and bookkeeping services
- Accounts receivable and payable
- Business incorporación and advisory
- Payroll services
- Part-time CFO and Controller services
- QuickBooks™ support
- Cash flow, budget and forecasting reports
- Financial statement preparation
Any accountant can prepare your taxes, but a good accountant will hunt for ways to reduce your tax obligations, so you pay less. When Consolidated CPA Service Inc is your CPA firm, we go beyond compliance and develop a comprehensive strategy to save you money on taxes. From business tax planning and preparation to income tax returns, our tax reduction techniques are reliable, economical, and make tax season less stressful. Discover how the right tax advisor can make all the difference to save money.
Business Tax Preparation
We’ll help you capitalize on every deduction and credit possible to limit your tax burden and make sure you never pay more than your business legally owes.
- Income Tax Preparation
- Tax Planning / Management Advisory Services
- IRS Tax Problem Resolution
- International Tax Services
Tax Preparation Services
For small businesses and even individuals, trying to do your taxes on your own will often end up wasting money instead of saving it. An inexperienced tax preparer can easily miss valuable deductions and make other costly mistakes that result in paying higher taxes and even penalties. Don’t take risks with your taxes, go to Consolidated CPA Service Inc for trusted tax preparation services in the Miami, FL area. We have a reputation for quality tax preparation at affordable rates for small businesses and individual taxpayers.
Our CPA firm offers smart tax management for a wide variety of small businesses including sole proprietorships, S Corps, C Corps, and LLCs. We’ll do more than help your business meet compliance requirements; we’ll work hard to find real tax savings you can bring to the bank. As your tax preparer, we’ll make sure you get every tax deduction and credit you deserve so your business retains higher revenues and maximizes profitability. Unlike online tax software, a real person who cares about controlling your tax burden will review your tax documents and make sure you only pay what you legally owe.
When we prepare your tax return you can be confident that and your taxes will be prepared accurately and filed on time, every time.
Tax Preparation includes:
- Tax return preparation – Corporate, Partnerships, Non-Profit Business, individuals, and foreign tax.
- Application for recognition of exemption businesses under Sec. #501(c)(3) – IRS Non- Profit organizations.
- Filing amended tax returns
- Non-Resident income tax / Foreign.
Tax Planning / Management Advisory Services
As your CPA firm, Consolidated CPA Service Inc always has your best interests at heart when it comes to tax planning. We make it our business to be well-versed in the newest tax legislation so we can ensure that you never pay one dollar more than you are legally obligated to pay. Our hard-hitting tax strategies are reliable, legal, and effective for new businesses, small businesses, and individual taxpayers.
In our constantly evolving tax environment, tax planning must be proactive not reactive. That’s why we work with you throughout the year to develop and refine your tax plan. For new businesses, we identify which business structure will bring the most tax savings and allow you to become profitable quicker. For established businesses, we analyze your finances to find ways to control tax exposure. We’ll identify which deductions are available for your industry, how to take advantage of certain tax credits, and how to limit your tax burden as your business grows. For individuals, we recommend a variety of techniques to maximize after-tax income and put more cash in your wallet.
- Minimizing taxes for small businesses
- Income tax planning for individuals
- Alternative minimum tax planning
- Multi-state tax compliance
- Succession planning
- Estate tax planning
IRS Tax Problem Resolution Services
Tax problems are scary, especially when you’re facing them alone. If you need to file back taxes, deal with an IRS audit, or figure out how to pay mounting tax penalties and interest, we can help. The Miami, FL tax accountants at Consolidated CPA Service Inc specialize in resolving IRS tax problems. We will represent you in an audit or assist in filing delinquent taxes, ending wage garnishment, or releasing a tax lien or levy.
The first step is contacting us to set up a time to talk so we can learn about your tax problems. Next we’ll review your tax documents and IRS notices and identify which tax relief options will bring the best results for your particular situation. Then, once we decide on the best route, we’ll take action. We’ll prepare your back taxes and will work with the IRS to set up an installment agreement, offer in compromise, or other plan to pay off your tax debt. If necessary, we can also support you in filing for a special tax provision like penalty abatement, innocent spouse relief, or currently not collectible status. Regardless of the tax problems you’re experiencing, you can rely on us to answer your questions with straightforward, reliable tax advice aimed at ending your tax problems once and for all.
- Prepare and file back taxes
- Minimizing tax penalties
- IRS audit representation
- Payroll tax problem resolution
- Help releasing tax liens
- Assistance removing levies
- Offers in compromise
- Installment agreements
- Filing for penalty abatement
- Currently not collectible filings
Offer in Compromise
IRS Offers in Compromise (OIC) allows a taxpayer to:
- Resolve a tax debt by convincing the IRS to accept less than the full amount owed.
- It is a complicated process for the taxpayer’s benefit who are facing tax problems. to settle all outstanding tax along with interest and penalties in the form of one lump sum payment which is less than the total amount.
IRS can settle taxes owed for less, if you can prove:
- Doubt as to Collectability – Taxpayer do not have the ability to pay.
- Doubt as to liability – Legitimate doubt exist that tax liability is correct.
- Effective Tax Administration – Collection can cause an economic hardship, unfair.
A CPA or Tax Attorneys plays a very important role in bringing negotiation relating to payment plan on behalf of the taxpayers who are unable to make the back payment in one installment.
Selecting a Tax Professional to handle your Offer in Compromise is the best option. Having a professional CPA represent you before the IRS will help ensure that all letters and phone calls from the IRS are handled quickly and professionally. We will help you create a backup strategy for handling your tax debt. But in the end, it is up to the IRS to make a decision about your case.
While your offer is being evaluated:
- Your non-refundable payments and fees will be applied to the tax liability (you may designate payments to a specific tax year and tax debt);
- A Notice of Federal Tax Lien may be filed;
- Other collection activities are suspended;
- The legal assessment and collection period is extended;
- You have to make all payments associated with your offer;
- Your offer is automatically accepted if the IRS does not make a determination within two years of the IRS receipt date.
From our experience when a taxpayer submits an Offer without the help of a CPA the chances of them getting their offer accepted is under 20%.
The accounting software is perfect for small businesses because it allows you to manage all your financial information in one convenient place. Make sure your QuickBooks software is setup to track your financial data correctly by working with Consolidated CPA Service, Inc. As Atlanta, GA Certified QuickBooks ProAdvisors®, we can perform the initial setup of your software and show you how to create reports. We also offer year-round QuickBooks support via phone and email. Anytime you have a question or problem, simply contact us for prompt service so you can get back to work quickly.
Choosing the Right Version of QuickBooks
We’ll discuss the accounting and bookkeeping requirements of your particular business in order to identify which version of QuickBooks is best for you.
QuickBooks Setup and Installation
Setting up QuickBooks for a small business involves mapping accounts appropriately, creating templates for invoices, and many other tasks to get you up and running. We can setup all these elements for you and ensure they’re working properly.
Our job doesn’t end once we’ve installed your QuickBooks software. Consolidated CPA Service, Inc. will continue to provide QuickBooks support throughout the year whenever you need it. Call or email us when you run into questions and problems and we’ll provide fast answers and dependable advice.
QuickBooks File Review and Clean Up
If you suspect something is off in your QuickBooks data but can’t find the error, turn to us for assistance. We’ll evaluate your QuickBooks file and make any necessary adjustments so you can be confident that your entries are accurate, and your records are up to date. And best of all, your QuickBooks data will be ready to go at tax time, making filing your taxes painless and less expensive.
Business Incorporation and Advisory
To start a new business is exciting but it’s important to take the time to make the right financial decisions at the outset or profitability could suffer later on. If you select the wrong structure when forming your business, a significant portion of your profits could be lost to taxes. Don’t risk making a mistake that could impede your goal of owning a successful small business. Instead, look for Consolidated CPA Service, Inc. for guidance. We’ll direct you toward the entity that makes the most sense for your business so you can minimize your tax obligations and realize higher profits.
In addition to incorporation services, we offer other business advisory services like business plan development and accounting software setup. A compelling business plan that clearly outlines your business goals and objectives will keep you focused. We’ll show you how to draft your business plan and explain what information should be included. We’ll also get you set up on QuickBooks so you can keep your books organized from the start.
We will discuss with you tax planning strategies planning and help to formulate your business plan.
Common Forms of Incorporation
Do you know the difference between a C Corporation and an LLC? Identifying the right business structure is confusing for the average person. Consolidated CPA Service, Inc. will explain the tax consequences related to each type of business structure and together we’ll find the best choice for your new business.
Limited Liability Corporation (LLC)
A Limited Liability Corporation or LLC is a legal form of company that allows you to protect your personal assets from the company’s liabilities. If your business is structured this way the “members” or owners will have no personal responsibility for the financial obligations of the business. With an LLC the business itself does not report taxes on its profits but uses “pass-through” taxation where the income and deductions are reported on the personal income tax returns of the members.
There are benefits to structuring as a C Corporation, but one drawback is that the business is taxed on profits at two different points (double taxation). First when the profits are earned and again when the money is distributed to shareholders as dividends. One positive feature is that the owners are not held personally liable for the financial obligations of the business.
S Corporations are similar to C Corporations in a number of significant ways except that they are only taxed on the profits once. The company itself does not pay taxes but the income from the company is passed through to shareholders and they are required to report any income from the business on their own personal tax returns.
Accounting Services for Other Small Businesses
- Service Companies
- Entertainment Companies
- Retail Companies
We can handle the accounting and tax issues associated with above other small businesses financial, tax and operation aspects. We’ll also leverage tax regulations to make sure you retain more of your income. We’ll review your entire financial picture to develop a creative strategy that reduces tax exposure and maximizes your wealth.
Our goal is to give you the peace of mind of knowing that your money is being managed properly. When you work with us, you can feel confident that all appropriate financial controls are in place to protect your assets. We’ll also ensure that your state and federal taxes are calculated correctly and paid on time to avoid any tax penalties.