Tax Services For Business
We will prepare your business year-end tax returns and be sure you are taking advantage of the ever-changing tax laws. We will assist you in determining which business format is appropriate for your needs. We will discuss sole proprietorships, partnerships, C corporations, S corporations, and Limited Liability Companies.
Retirement programs such are Simple IRA’s, SEP’s, 401K’s, and qualified pension plans are complex but offer big tax and other benefits. We will assist you in determining which program is best for you.
Exit strategies when you wish to sell your business are sometimes overwhelming, both from a tax and emotional standpoint. We will assist you to maximize your goals and minimize the taxes.
We will represent you before the Internal Revenue Service and Florida Department of Revenue.
Tax Services For Individuals
We will prepare your personal income tax returns and be sure you are taking advantage of the ever-changing tax laws. Each individual is different. We will review your personal situation to be sure you take all allowable tax deductions.
Personal Retirement programs such as Standard and Roth IRA’s offer tremendous tax saving opportunities. We will help explain the benefits of these programs.
We are authorized IRS E-File provider and can offer you all the benefits of electronic filing.
We utilize a very sophisticated computer tax program to assist in your tax preparation. We also provide you with a personal income tax organizer to assist you in gathering your personal year-end tax information. The tax organizer also indicates income and deductions from your prior year’s income tax return, which is a great memory jogger!
We provide monthly accounting services for many small businesses in South Florida. We will generate a complete set of books and provide you with monthly compiled financial statements showing the current monthly and year to date activity of your business. We will also insure that your checkbook is balanced and consult with you on a regular basis regarding the profitability of your business.
For clients that do not need a monthly accounting service, we provide Compilation, Review, and Audit Services to assist you with local financial institutions and bonding company requirements.
We provide payroll services for several business clients in the South Florida area. We prepare the payroll checks, insure that all payroll taxes are timely filed, and prepare the quarterly tax returns. We are also set up with the Florida Department of Revenue to transmit unemployment taxes electronically.
We will generate the year-end W-2 forms for your employees and 1099 forms for independents contractors who receive over $600 during the calendar year.
Estate and Trust
John C. Downs, CPA is the trustee of several local trusts and serves as a personal representative for clients. Our firm will prepare year-end 1041 trust income tax returns and consult with you and your attorney to insure the provisions of the trust are being followed as well as assist you in minimizing the taxes.
We prepare the Federal Estate Tax Return, sometimes referred to as the “death tax.” Advanced planning in this area is imperative to reduce estate taxes due upon death. We work alongside of attorneys advising on will preparation, gifting, , power of attorney’s, medical surrogates, and long term health care insurance.
We have been using Peachtree Accounting with our clients for over 15 years and are familiar with this inexpensive accounting program. We will assist you with the important function of setting up your business, including the chart of accounts, accounts receivable and accounts payable, financial statements, and other accounting reports. We will help you with all of your operating questions about Peachtree Accounting. We are a PAC member of Peachtree and have access to technical support, should you need it.
We also have a substantial group of clients that use QuickBooks Accounting programs. We are familiar with these products and can assist you with your accounting questions.
Call our office today to schedule an appointment to discuss your tax and financial needs….