We prepare business tax returns in all 50 states.
More importantly, we will ensure that you are aware of all your tax filing obligations and that you can meet them in a timely manner. The major taxes are
income,
employment and
sales & use. You may need to register and file in
multiple jurisdictions. Understanding what your obligations are and filing timely is critical, because the failure to file a required tax return timely can cost you a significant amount of money in interest and
penalties. In fact, if you never file a required tax return, the
penalties and
interest can grow to exceed the actual tax itself.
As a Beacon client, our tax experts will thoroughly review your business operations to determine which filings apply to you. If there are grey areas, we will let you know what the current law says and what the risks and rewards of taking a position may be. If you have not been up to date with all your filings, we can prepare your past returns and, in many cases, help you avoid
penalties - provided you have not already been contacted by the IRS.
Tax rules can be extremely complex and are constantly changing. Planning is made more difficult because we have federal, state, and often city considerations. In the course of managing your account, we constantly review new and existing tax law to uncover opportunities to save you substantial tax dollars.
No business can be run optimally without a balance sheet and income statement. Good financial statements will show you how your business is actually doing and can uncover important trends and opportunities. They are also indispensable to tax planning and return preparation.
Financial statements are used mostly for internal, management purposes; however, if your business has outside funding or reporting requirements, they can be “reviewed” or “audited.” Whatever your needs, the statements we prepare for you make sense of your businesses’ financial results.
Most business owners know their business, but they don’t necessarily know how to organize and track their business finances. To make matters worse, many struggle with outdated or ill-conceived accounting systems, which produce more stress than clear reporting. We have years of experience in selecting systems and training small businesses to maintain their records in an easy and practical manner. You do not need to be an accountant, and once you have our training and support, it invariably frees your time up and puts your focus where it should be- running your business.
We form corporations, partnerships & LLCs in all 50 states - generally within 48 hours. We can also obtain a “DBA” (doing business as) certificate for your sole proprietorship or existing business in the same time frame.
Beyond merely forming your business, we will consult with you about the optimal entity form you should choose to maximize tax savings. The choice of the proper business form, coupled with proper accounting and tax oversight, can give you the flexibility you need to run your business in the most tax-efficient manner.
If you are forming a new business, we also provide a host of start-up services such as setting up your books, and advice regarding compensating owners and workers, admitting partners, and which tax filings will be required.
Not everyone can comfortably maintain their own books & records. You may either be too busy to focus on this aspect of your business, you may not be comfortable with numbers or computers, or your company may simply not be large enough to afford a full-time in-house financial person. You may also be simply tired of trying to find competent, trustworthy part-time bookkeepers. Our firm can devise a customized solution for all your accounting and bookkeeping needs that allows you have these tasks done for you in our offices in a way that you maintain awareness and control over the entire process.
Should you receive correspondence or an audit notice from the IRS or another taxing authority, we can respond on your behalf to clarify the issues and obtain the best possible outcome. In this area, the help of a professional is often critical.
Business owners and managers often need to project what the business will look like in the future. This can be critical in order to prove your case to potential investors by showing how much capital is required and how soon the business will be profitable. There are many other reasons to do formal projections. We can aid you in this important process and thereby give your projections a professional touch.
