S Corporation Services
We are dedicated to providing you with expert, cost-effective and personalized customer service that is as unique as you are. No two businesses are alike, and we tailor my services to each client based on your individual needs.
S Corporation Election​
You first elect S Corp status by filing Form 2553 with the Internal Revenue Service after first creating an entity such as a LLC. When the business if forms, owners are considered employees of the business, so they are responsible for paying themselves a payroll (and reporting a W2 at year-end).
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The beauty of electing S Corp status is that you can pay yourself both a W2 wage that is subject to payroll taxes (15.3% of wages covering Social Security and Medicare) as well as owner distributions that are not subject to this tax.
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Tax Preparation
At year-end, you are required to file a separate set of tax returns to the federal and state taxing authorities, and then report the income to yourself via a Schedule K-1 that attaches to your personal tax return.
Bookkeeping​
Because your S Corp is considered a corporation, you must keep your books and records. We prefer that our clients use Quickbooks Online and report using the Cash Basis method of accounting.
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Most business owners do not want to handle their own bookkeeping, so we offer that service. We link your bank and credit cards to Quickbooks and handle the backend accounting and reporting. We provide you with reconciled bank and credit card statements and your financials (P&L and Balance Sheet).
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Most banks will require financial statements when you apply for a loan or mortgage and own a business, so our services perfectly dovetail into helping you ensure that you can access financing when you need it.​
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Payroll
​Employee payroll can be time consuming and frustrating. Keeping tabs with withholding forms, payroll taxes, and remitting monthly and quarterly payroll returns takes valuable time that you could spend growing your business.
We partner with Gusto and Quickbooks Payroll for your payroll requirements.
Bookkeeping Services
If accounting is the language of business, bookkeeping is your primary method of understanding the pulse of your business. Call on us for financial statement preparation, cash flow analysis, bank statement reconciliation or just to understand how your business is doing. We provide fixed-rate monthly services.
Services include:
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General ledger data entry
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Bank statement reconciliations
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Preparing financial statements
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Maintain detail listing of fixed assets & calculate depreciation, if applicable
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Analyze accounting records and recommend adjusting entries, if applicable
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Assist management in recording journal entries in the general ledger, upon request
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Consulting
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We provide a wide variety of individual and business accounting and tax consulting services. Accounting is a broad and diverse field, and each question is as unique as the individual posing it.
Consulting services are provided on an hourly fee basis to be discussed prior to commencing work.