Tax & Accounting Services

Tax Preparation

As part of the tax preparation process, I take the time to show you potential deductions to limit your tax liability and discuss plans for the future. Your tax return will be checked and rechecked to identify any potential problems the IRS may look at more closely. The accuracy of your tax return will also be carefully reviewed.  Tax returns are filed electronically to get refunds back more quickly and to ensure the accuracy of the transmittal.

Tax Estimates

I provide tax estimates to make sure that the correct amounts of withholding and quarterly estimated payments are being paid on your behalf and to keep you exempt from penalties and interest.  This estimation process is highly important for business owners and for individual taxpayers who experience special events during the tax year, such as the sale of rental property or other similar taxable events.

Payroll

I use Intuit’s Payroll Online, which is fully integrated into QuickBooks. Through this system, we can log into your QuickBooks, create your payroll, and pay your payroll taxes all at once. Every time a tax deposit is due and is going to be automatically withdrawn from your checking account, you will receive an email to remind you.  This payroll system is also integrated with the process of tax preparation. It makes tax planning easier and allows it to occur in advance, which is when tax planning should take place. Many money-saving opportunities are missed when payroll and taxes aren’t planned for.  If you are the business owner of a corporation, for instance, it is very important that you receive a reasonable salary with the proper amount of federal and state withholding. As every business owner knows, the amount you should be paid is a moving target. It is essential that this figure is constantly reviewed, especially at the end of the year. I have seen a substantial amount of money wasted because of the lack of year-end planning. I will advise you regarding the correct salary for your situation, so this needless waste doesn’t happen to you.

QuickBooks Desktop and Online

I provide full-service accounting on QuickBooks, and I offer consulting to help you stay on track if you choose to work in QuickBooks yourself. I can also come to your business location to help streamline your processes and make your bookkeeping more efficient.  The initial setup and installation of your QuickBooks must be completed correctly in order for future information to be accurate. I oversee the process for you, and I also set you up to utilize bank transaction downloading, which saves time and money. Once an “alias” is identified, the transaction is remembered and is automatically entered into the proper account in batches.  For the QuickBooks suite of online products for accounting and payroll, I am offered a 50% discount as an administrating accounting professional, and I pass this savings on to you.

Part-Time CFO

Need professional advice but can’t afford (or don’t need) a full-time CFO?  I offer part-time CFO consulting to help small business owners like you protect and constantly improve the financial side of your business. This includes recommending tax saving strategies, optimizing cash management, and serving as a liaison with bankers, attorneys, and insurance agents. I am available as a sounding board to help clarify your business plans and assist you with tough decisions.

Social Security Planning

Good Planning = Social Security Maximization

Many people who make the decision to file for Social Security benefits don’t have a clue why and when they should do this. This is one of the largest decisions that you will ever make, with a very long-lasting effect: for the rest of your life! Given the stakes, you can see why it’s important to make the right decision.

It is not the job of a Social Security employee to advise you how to file to get the maximum benefit. They are there to enact and initiate your decision. To obtain qualified advice, you must consult a financial professional who understands your circumstances and has your interests at heart.

I use software that downloads your annual Social Security contributions directly from the government’s Social Security website. I am then able to run different scenarios to determine the maximum amount you can draw from Social Security over the course of your lifetime. Based on your own circumstances and life expectancy, we can explore alternatives to find the best option for you.

Should you start receiving benefits at age 62, 66, or 70? You could discuss a life decision of this magnitude with a stranger, or you could work with a dedicated advisor who is looking out for you. It’s your choice.

Retirement Tax Planning

Preparing for Your Financial Future

It is important for us to be conscious stewards of our personal financial wealth, so that we create and maintain financial freedom. In the retirement planning process, I have been made aware of how important it is to ask a lot of questions. Some of my favorite questions are:

• How could you be doing better financially?
•  Are you utilizing every tax credit possible?
• Could you retain more assets by paying tax now, or would it be better to defer the tax?
• Why are you using this approach—have you thought of doing something else?

I have found these to be very powerful, money-saving, and anxiety-reducing questions. When we meet to discuss strategies for securing your financial future, I put my expertise at long-term planning to work for you.