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WHAT IS SPECIAL ABOUT OUR ACCOUNTING SERVICE ?
Compared to other bookkeepers/CPAs our accounting services has several special features not offered by most of them. They help to lower your tax, save you from breach of laws and reduce significantly your chances of IRS audits.
Bookkeeping is just recording of data, while accounting is processing this data and prepare right financial statements meeting requirements of standards laid down by AICPA.
Accounting at our firm is still much more than accounting services usually provided by other firms, as we provide following additional custom reviews for services:
1) IRS Ceilings Review: We provide review from point of view of checking all limits or ceilings for various types of expenses to assure that you don’t make breach of such rules.
E. G. If in S corporation your losses are more than your basis in the corporation, you are not allowed set off for loss of the corporation in your personal returns.
2) US Averages Review: We review and match your expenses with US Averages, to avoid your company being holding Red Flag inviting IRS audit.
3) Documentation Review: We review and advise you on various types of documents required for expenses so that any time in future IRS audit notice is received, you have complete set of supporting documents ready.
4) Corporation Law review: This is review to assure that you comply with rules laid down under state law under which you are incorporated.
E.g. you advertised contact location in certain stat, and then you need to get to secure authority to transact business in that state, breach of which may make you liable for penalty up to $500 per day. You place you employee in certain state for 10 days, as per law of the state, you may be liable file and pay franchise tax for that state. There are various such rules you need to keep in mind. Since we do multi state, incorporation, tax returns and accounting, we can help greatly in this area.
5) Liability Protection Review: If your books are not properly set from this angle, even though, this may not involve any breach of law, as per court rulings, you become personally liable for all the debts of the company and you lose limited liability protection.
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