Business Consultation

When you need it most, Niren Patel, CPA is here to help you make the right decisions. The requirements for corporate management are becoming increasingly extensive. That is why fundamental business consulting for us in inseparable from the services of good tax consulting.

Our Services include:

Consulting on Business Setup

We will help you in your quest. We will help you choose the best type of entity for your business whether it’s a sole proprietor, corporation, partnership or an LLC so that you get the best tax advantages. We develop business plans, analyze financial statements and recommend retirement plans.

• Accounting Structure and Internal Controls
• Business Plans
• Budgeting & Cash Flow Management
• Financing Selection
• Technology and Software Selection and Analysis
• Tax Planning(Property, Sales & Use, Payroll, Income)

Growing Your Business

Through ongoing strategic planning, we help clients plan for the next stage of their business’s growth. Our objective is to provide value-added services that improve business processes and bring a greater return on investment.

• Compensation Plans
• Forecasts & Projections
• Internal Control Analysis

Financing

Financing affects all stages of business. In the beginning, it is the working capital that helps establish the business. Once a business has launched into the next stages of growth and improvement, the backing of a lending institution becomes even more important. We help owners with planning and prepare the financial reports essential for securing financial support.

Litigation Support

In today’s world of increasingly complex litigation, you simply cannot do it alone. Let’s face it. Your probability of a success increases when you have the expertise of an experienced “court savvy” Tax and Financial Services Expert on your side.
Our services include:

• Assistance with pre- trial and trial issues.
• Information, document and exhibit creation and collection.
• Clear explanation of the facts regarding accounting, business and tax.
• Assessment of damages, losses, earnings, profits, disputes and business value.

In a nutshell our litigation support service is focused on results.

Tax Preparation

We offer practical, proactive and innovative solutions to tax planning that put your business or personal needs first. Our firm provides our individual and business clients with the taxation expertise and knowledge that they deserve year round.

Our tax services include but are not limited to:

INCOME TAX PREPARATION

• Individuals Tax Return 1040/ 1040 A/ 1040 EZ
• 1065Partnerships Tax Return / LLC Tax Return
• 1120 Corporations Tax Return
• 1120-S Corporation (sub Chapter S) Tax Return
• 990 Not for Profit Tax Return
• 1041Trust and Estate Tax Return
• Tax planning and analysis
• Tax alternatives and ways to reduce your taxes
• Estate and trust planning
• Payroll tax
• Alternative minimum tax planning
• IRS problem resolution
• E-file
• State and Local Taxes

TAX PLANNING SERVICES

• Advising clients of tax matters that specifically impact their operational practices
• Positing clients to take advantage of changes in tax laws.
• Consulting on the tax implications of proposed transactions.
• Assisting with tax planning and restructuring to minimize taxes.
• Analysis of inventory and tax accounting methods.

Our goal is to make the process of tax planning and preparation a simpler process that provides timely, meaningful information, and assists you in minimizing your tax liabilities currently and into the future.

Payroll Services

Say goodbye to payroll hassles with professional services from Niren Patel, CPA.
Now you can trust your payroll is in good hands. There’s nothing better than personal attention from a trusted adviser who knows your business.

No more IRS penalties!

• Did you know that each year, 1 out of 3 small businesses pays a penalty to the IRS?
• With our payroll service, you’ll never miss a tax deadline or pay the wrong amount.

Accurate payroll you can count on

• We complete your federal and state payroll filings for you, including 941/944 quarterly forms, year-end 940 forms, and W-2’s.
• All of your payroll information will be maintained and available: employee records, past pay stubs, tax filings, and records of tax payments.

You and your employees will be pleased

• Paychecks can be electronically deposited into employee bank accounts with our Direct Deposit service. Your employees will appreciate Direct Deposit. No more trips to the bank. We also provide professional pay stubs detailing the current as well as year-to-date withholdings, vacation and sick time.
• I was watching This Morning and Pharmacy First was mentioned. I went online http://www.viagracoupons.net/ and was very pleased to see the special offers on there. I paid and received the orders pronto.
• All common pay types are supported.
• Voluntary deductions are also handled, such as insurance, retirement plans, and many others.

Accurate Paydays

•   Guaranteed accurate federal, state and local tax calculations
•   Direct deposit
•   Professional paychecks and pay stubs
•   Secure online employee access to pay stubs
•   Payments to independent contractors
•   Wage garnishments
•   Vacation and sick pay tracking
•   Pay types: salary, hourly wages, multiple pay rates, bonuses, cash tips, paycheck tips, expense reimbursements, allowances, holiday, and more
• Voluntary deductions: taxable and pre tax premiums for medical, dental, and vision; retirement plans; flexible spending accounts: dependent and medical care; cash advance and loan repayments; and others

Federal Tax Deposits and Filings

• Quarterly and year-end filings
• W-2’s
• W-4’s, I-9’s and employer registration forms

State Tax Deposits and Report Filings

• Quarterly and year-end filings
• Multi-state tax payments and filings
• New hire reporting
• Employer registration forms

Accounting Software Integration

• Payroll data integration available for QuickBooks®, QuickBooks Online Edition, QuickBooks for Mac, Peachtree®, ATX Client Write-Up, TaxWise Client Write-Up, CCH ProSystem fx® Write-Up, and  Microsoft® Money

Detailed, Insightful Reports

• Employer reports: Tax Liability, Tax and Wage Summary, Total Pay, Tax Payments, Workers’ Compensation, Vacation and Sick Leave, Billing Summary, Total Cost, Retirement Plans
• Employee reports: Payroll Summary, Payroll Details, Deductions, Last Paycheck, Employee Details

Accounting Services

As a small business owner you have more important things to do than to keep your own books. We take care of your books for you, so you can get back to the job of running your business and generating profits.
Each month or quarter we’ll do the following things for you.

• Reconcile your bank account
• Generate an income statement
• Generate a balance sheet
• Clean up your general ledger
• Provide unlimited consultations

These tasks form the solid foundation of your small business accounting system. You can customize the package of services you receive by adding payroll, tax planning, tax preparation, or any of our other services.

Bank Reconciliation

Reconciling your business checking account each month allow us to keep your bank account, accounting, and taxes up-to-date.
Having us reconcile your account each month allows you to…

• Identify lost checks, lost deposits and unauthorized wire transactions.
• Detect and prevent excess/unjustified bank charges and ensures transactions are posted correctly by your bank.
• Detect and prevent embezzlement of funds from within your company.
• Know how your business is doing? You can’t really know unless all accounts are reconciled and properly accounted for on your financial statement.
• Manage your cash more effectively. Proper management of funds not only saves money, it makes money for you.
• Protect yourself. By timely reconciling and promptly objecting to your bank about any unauthorized, fraudulent or forged checks presented to your bank and paid by that bank, you can relieve your agency of responsibility for the shortfall and transfer the risk to the bank. This reason to reconcile alone should be enough. Crime exists.
• Sleep Better. You will sleep more peacefully at night knowing your bank accounts are reconciled, in balance and that all escrow funds, accounts, checks and disbursed funds are properly accounted for.

INCOME STATEMENT

An income statement, otherwise known as a profit and loss statement, basically adds an itemized list of all your revenues and subtracts an itemized list of all your expenses to come up with a profit or loss for the period.
An income statement allows you to…

• Track revenues and expenses so that you can determine the operating performance of your business.
• Determine what areas of your business are over-budget or under-budget.
• Identify specific items that are causing unexpected expenditures. Like phone, fax, mail, or supply expenses.
• Track dramatic increases in product returns or cost of goods sold as a percentage of sales.
• Determine your income tax liability.

Balance Sheet

A balance sheet gives you a snapshot of your business’ financial condition at a specific moment in time.
A balance sheet helps you…

• Quickly get a handle on the financial strength and capabilities of your business.
• Identify and analyze trends, particularly in the area of receivables and payables. For example, if your receivables cycle is lengthening, maybe you can collect your receivables more aggressively.
• Determine if your business is in a position to expand.
• Determine if your business can easily handle the normal financial ebbs and flows of revenues and expenses?
• Determine if you need to take immediate steps to bolster cash reserves?
• Determine if your business has been slowing down payables to forestall an inevitable cash shortage?
• Balance sheets, along with income statements, are the most basic elements in providing financial reporting to potential lenders such as banks, investors, and vendors who are considering how much credit to grant you.

Maintaining a clean general ledger

The general ledger is the core of your company’s financial records. These records constitute the central “books” of your system. Since every transaction flows through the general ledger, a problem with your general ledger throws off all your books.
Having us review your general ledger system each month allows us to hunt down any discrepancies such as double billings or any unrecorded payments. Then we’ll fix the discrepancies so your books are always accurate and kept in tip top shape.

Unlimited Consultation

We are always available to spend time with you so you fully understand how to interpret and utilize the financial information we provide. Our consultations are already included in our price, so please feel free to call us whenever you have a question or concern.