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1. Bookkeeping of books for Business (Bookkeeping)
Depending on the complexity, size of the company and number of transactions, we provide the following tasks in a computerized system (usually-but not limited to-QuickBooks of Intuit in its versions of PC, MAC, Online) and according to the Generally accepted accounting principles (GAAP):
1.1. Entry of bank and credit card transactions as well as accounts receivable and payable.
1.2. Bank and credit card reconciliations.
1.3. Organization of electronic documents.
1.4. Issuance of financial statements from the accounting system for different purposes (including business tax preparation).
1.5. Discussion and/or explanation of periodic financial results.
1.6. Account Analysis
2. Preparing individual and business tax forms
As its name implies, we are commercial tax preparers of both personal and business taxes such as:
2.1 Calculations and preparation of individual income tax forms (Forms 1040, 1040NR y state forms, as well as forms y reports to be attached to the main forms).
2.2 Calculations and preparation of business income tax forms (forms 1120, 1120S, 1065, as well as forms and reports to be attached to the main forms).
2.3 Calculations and preparation of mandatory state tax forms depending on the type of business (for example: General Sales & Use Tax or “Sales Tax”, taxes on Purchases and Sales of Petroleum Products or "Petroleum Business Taxes-PBT", Highway Use Tax-HUT, International Fuel Tax Agreement-IFTA
2.4 Calculations and preparation of federal and state forms of payroll-related taxes (see details under numeral 8 below).
3. Various trainings and tutoring for accountants, business owners and bookkeepers
In many opportunities we have been called to train personnel in firms and private companies. These entities require certain skills and dedication to training that we provide with the greatest pleasure.
3.1 Trainings and tutoring for accountants, usually accountants with limited experience in a specific area, it being because they don’t have previous experience or because the firm has been hired for services never provided for which they don’t have the necessary knowledge. We handle these cases with the due and formal discretion allowing the firm to maintain its image before its clientele.
3.2 Training and tutoring for business owners. Usually small businesses start with their owners dedicated to all areas of the business, both operational and administrative until they grow enough to hire staff and physically detach from such tasks. We serve our clients by teaching them not only what corresponds to the right tasks but to understand their reason to be, collaborating and accompanying them in the process.
3.3 Trainings and tutoring for bookkeepers, dedicated to teach the art of accounting and its benefits, as well as its application and use of electronic tools to fulfill the daily functions of the bookkeeping according to the requirements Of government agencies, improving the quality of accounting tasks, information and their subsequent use in decision making on management’s part.
4. Accounting and Tax Consulting
As its name implies, we provide accounting answers and solutions for our clients in the personal and business areas. We collaborate in the planning and implementation of accounting tools and/or control according to specific requirements depending on the case. We collaborate in tax planning both personally and at a business level anticipating to future taxable events with a view to minimizing their economic impact.
5. Preparation of Financial Statements
5.1 Compilation and organization of financial information according to the Generally Accepted Accounting Principles (GAAP) and presentation rules according to Financial Accounting Standard Board (FASB).
5.2 Preparation of reports and other information related to the preparation of financial statements
5.3 Assistance in certifications according to the case of the work to do in the preparation of financial statements (audits, reviews, compilations, or interim and informal).
6. Financial Audit Assistance
These audits are characterized by being executed by and issuance of an opinion from a certified public accountant (CPA) which require analytical and communication skills with which we count and provide to facilitate and/or expedite the issuance of the related reports. We have the possibility to assist depending on whether the person who hires us is a firm or public accountant, or if it is a company subject to audit, as follows:
6.1 Assistance to public accounting firms in the executions of financial audit procedures.
6.2 Assistance to businesses under financial audit in the review and communication with external audit firms, provided ease and relieving their impact in normal operations and functions of the companies’ staff.
7. Assistance in compliance audits
These audits are characterized by being executed by different entities, either governmental or private entities, in order to review and verify compliance with contractual clauses between companies or persons with such entities. Some examples of compliance audits are:
7.1 Government audits of sales tax; in order to review that reports submitted coincide wit hthe financial information and supporting documentation, and accounting records.
7.2 Private audits performed by insurance companies related to contractual clauses of an insurance policy; to verify that the volume of sales, payroll or exposure expressed in the contract coincides with the reality after the period covered.
8. Calculations of payroll and preparation of tax forms related
We mentioned a part of these services in the numeral 2.4 previously, which is the preparation of related forms. It is important to note that these services have two aspects that are related in their results, we denote them as well:
8.1 The calculation of payroll is basically to calculate Taxes and other charges of payroll to be withheld based on the specific data of the company and its employee as individual, resulting the amount to be paid to the employee in a specific period, as well as his/her corresponding paystub or payment coupon.
8.2 The compilation and summary of the different categories of payroll are required to prepare the reports to regulating entities and/or government agencies (federal and state) from the employer’s part. Part of this information is filed periodically along with the corresponding submission of payment of withholding and contributions, remaining only the filing of summary reports until the end of the year (we refer to these reports as payroll tax returns). Depending on each case, these tax forms must be accompanied by a payments of the respective taxes.
9. Varied administrative assistance for businesses and/or accounting firms
This is a vast range of services that are available to provide. Depending on the case, that ranges from collaborating in taking physical inventory to converting financial information from one system to another by an accountant’s firm. Being this point so varied and open, we can only keep open to specific questions and respond as the case is provided it is not something that has already been mentioned above.
10. Formation of new businesses
When starting a new business, it takes choosing the type of business and the understanding of what you want to achieve in order to invest time and money in it. For that, we provide consulting so that people can make these decisions in an educated manner and make sure that their investment does not have an "expiration date" (unless that is the plan). On the other hand, we provide the business formation service filling in the necessary forms and tax registrations required according to the type of business. Saving the client the time he/she needs for more fundamental and operational functions, such as licensing and designing business operational processes. The types of businesses that are mostly used are:
10.1 Individual Business or Sole-Proprietorship (Business Certificate)
10.2 Corporation (Regular-C o Small-S)
10.3 Limited Liability Company or Partnership (LLC)
11. Outsourced controller services
This is a specialized service in the area of public accounting that requires technical skills and knowledge of the industries in order to provide small and medium enterprises the possibility of a periodic review of their accounting methods and records without the economic burden of employing a person with such knowledge. These services allow the company and its administrators to have a higher-level corporate perspective as they grow and generate the ability to recruit internal staff for this task.