Frequently Asked Questions:

For Business

We need to set up a new business, what do we have to do?
First, you need to decide as to the type of entity you need to have for your business. The following types of entities are commonly found in a business environment:
  • Corporation
  • Limited Liability Company
  • Limited liability Partnership
  • Un limited Partnership
  • Sole Proprietorship
For tax planning and tax advantages, it is imperative that you select the right type of entity that customizes your needs. Please contact us for structuring your business set-up.

Do we need to incorporate. Register or notify various tax and other authorities, once we select the type of entity?
If you decide to form a Corporation, Limited Liability Company, Limited Liability Partnership or General Partnership, You need to incorporate with the designated agencies depending on the state you are doing business in. Each state has a specific filing fee for incorporation/filing. In addition, you need to register with the state and federal agencies including Internal Revenue Service and Department of Revenue. We incorporate and register all different types of business entities in different states. We also handle multi-state (corporation operating in more than one state) registration and incorporation.

Do you assist us in licensing requirements?
Yes, in retail operation, we provide assistance in specific areas. We have a very resourceful contacts and network that will help you leverage the expertise of the specialist in each area.

Could you perform accounting function for our business?
Yes, We have the state of the art software that caters to the diverse need of the small and medium size businesses and we try to customize the chart of accounts and account set up to meet the specific need of each business.

Do you provide payroll services so we won´t have the headache of setting up employee and generating paychecks and pay stubs?
Yes, we provide "A to Z" payroll services that includes setting up employees on the system, determining their tax withholdings, generating and mailing paychecks and pay-stubs, setting up payroll tax liabilities for employer, and generating annually W-2s and W-3s.

Do you help us in preparing and filing sales tax and payroll tax returns with various federal and state agencies?
Yes, based on the core information from you, we prepare and file monthly/quarterly sales tax returns. We prepare quarterly and annual payroll tax returns and in addition, we advise, you, if and where needed, as to the amount of payroll tax deposits. We also perform annual payroll tax reconciliations.

Do you help us in preparing Profit and Loss accounts and Balance Sheet with the supporting schedules? Would you prepare and file our annual Tax Returns?
Yes, again, based on the core information from you, we assist you in the preparation of Profit and Loss Account along with the supporting schedules and Depreciation and amortizations Schedules as required. We also prepare your annual Federal and State Tax Returns.

Can you represent us before tax authorities?
Yes, we are CPAs and are licensed to represent with the necessary power of attorney, before IRS and State Tax Authorities.

Can you help us in setting up our retirement plan?
Yes, we have an extensive experience in helping set-up retirement plans for small and medium size businesses.

What other services you provide to the business entities?
To name few, we can certify your financial statements for loan approvals. We assist you in seeking low cost financing, such as easy credit line and SBA Loans. We have an extensive experience in performing due diligence for purchase and sale of businesses. We can help you in performing a pro-forma valuation of small businesses.

For Individuals

Can you file our Federal and State Tax Returns?
Yes, our extensive experience and expertise helps our client in maximizing tax savings.

Can you help us in out Tax Planning?
Yes, again, we have a proven track record of providing our clients consulting and devising smart tax planning schemes.

Can you file our Federal and State Tax Returns?
Yes, our extensive experience and expertise helps our client in maximizing tax savings.

Can you help us in estimating our Tax liability for the ensuing period?
Yes, Based on the core information from you, we can help you precisely estimating your tax liability.

For "Not-For-Profit Organization"

Can you help us set-up a Not-For "Profit" organization?
Yes, we can help you set-up "Not-For-Profit" organization with the federal and state agencies.

Can you file the tax returns?
Yes, can file your Tax Returns on an annual basis.