Business Taxation - Compliance, Planning and Preparation

The ever changing tax law brings a heavy burden to small businesses and its officers. We take pride in our experience and continuing our knowledge to make this process as clear and efficient as possible. The basis of the business return should be from accurate financial statements which we can assist in preparing for you. Because most small business returns are intertwined with the your individual return, it is critically important to understand your business finances and how they affect your overall tax liability.

Individual Taxation - Planning and Preparation

Our year-round services will keep you ahead of the dreadful year end deadlines. Studies have shown that approximately 77% of taxpayers believe they benefit by having a tax professional prepare their returns rather than them doing it themselves. Tax laws are incredibly complicated and ever changing. Our ability to help find you deductions may actually outweigh the cost of our services while giving you the peace of mind that they were prepared by a professional.

Our top notch tax software and review process will identify any potential problems to minimize the chance of IRS red flags. Returns are also filed electronically to make all steps more efficient and speed up any refunds coming back to you.

Many tax preparation firms are only open a few months of the year. We are open all year to answer your questions and assist in tax planning to reduce your overall tax liability.

Business owners should be aware of the differences between an employee and an independent contractor. They should also be aware of the importance of being compliant and the severe federal and state penalties and interest, if they are not. The steps to be compliant to both federal and state payroll laws start here. Our on boarding process will first identify your needs to be accountable to those within your organization and then streamline payments and reporting to agencies outside. We offer Full Service Payroll but will also help you navigate payroll functions should you decide to outsource payroll. Either way, we are here to help!

Financial Accounting and Bookkeeping

A business owner has enough to handle day to day with the products or services it offers. Surveys have shown that 40% of small business owners dislike the accounting and administrative functions it takes to operate their business. We will develop a system to either support you in these tasks or completely fulfill these functions for you.

Understanding your company’s financials is critical in knowing what occurred in the past but more importantly in helping to make decisions going forward. Our staff will work in posting financial transactions to assist you or prepare financial statements using industry leading software. We can also guide you in comparing your performance to others in your industry and provide further support for your business. We can also assist in evaluating that accounting and internal controls are properly in place to minimize risks of embezzlement or other asset loss. Whether a weekly, monthly or quarterly routine, MT&A can manage your financial accounting or bookkeeping needs.

Business Formation and Consultation

Taking advice from friends and colleagues is nice sometimes, but the time of “I heard” or “I thought” should not be the case when it comes to business formation and the choice of entity you decide. Your entity type and the type of taxation you choose are so very important that you need an experienced and trained professional to help you make this decision. There are so many business choices that are tied to this one decision that making it without guidance and professional consultation could prove extremely costly. Let us help you in the choice, structure, and completion of setting up your business.

Quickbooks provides a variety of options from their desktop applications to their Quickbooks Online in the “cloud”. We are proud to offer the support our clients need in order to make best use of the tools available. It is best to avoid the common pitfalls that many users experience and let MT&A guide you in the right direction with the various platforms available. From structuring the Chart of Accounts, User Management and Reporting features, services can be provided onsite or by remote access throughout the year. Please get in touch with us today!