Services

Bookkeeping

Bookkeeping is like keeping a record of all the transactions a business makes, such as buying inventory, selling inventory or assets, and paying or receiving money. It helps the business keep track of its money and understand where it's coming from and where it's going. Just like you wouldn't want to lose track of your bi-weekly paycheck, businesses don't want to lose track of their money either. So, bookkeeping is like their organized way of knowing how much money they have and what they're doing with it. We do bookkeeping with software known as QuickBooks to keep track of your profits & losses as well as assets & liabilities. In order to improve your business, you must track how well you are currently doing. Aside from understanding the business financial condition, bookkeeping is necessary to prepare the books for tax filing season. Missing expenses on your books is the number one mistake business owners make that will cost them. If you miss deductions, your profits will be higher, leading to a higher tax bill. Don't miss out on deductions for your 2023 tax return. Here are our bookkeeping services:

  • Bookkeeping Monthly: QuickBooks Online, A2X Integrated with QBO

  • Bookkeeping Clean Up

Personal Tax Returns

You bring the forms, we provide a solution. We understand tax filing season can be stressful, especially if you receive a new tax form or face major life changes like marriage, new born, new home, or even sell a home. We are here to provide a solution to every problem you may have. Any form below can accomidate your tax needs, depending on your financial situation. For example, if you just started driving through Uber and they happen to send you a 1099-NEC, you will now have to file Schedule C attached with your 1040 tax return. We have over 5 years of experience with tax preparation, no situation is too diffucult.

  • Form 1040 – U.S. Individual Tax Return

  • Form 1040NR – U.S. Individual Nonresident Income Tax Return

  • Form 1040X – Amended Tax Return

  • Schedule A – Itemized Deductions

  • Schedule C – Profit or Loss from Business

  • Schedule D – Capital Gains and Losses (see form 8949)

  • Schedule E – Supplemental Income

  • Schedule E – Supplemental Income page 2

  • Schedule F – Profit or Loss from Farming

  • Form 8936 – Qualified Plug-In Electric Drive Motor Vehicle Credit

  • Other Schedules & Forms Available

Business Tax Returns

Starting a new business can have many challenges, but one of the most dauting is filing your business taxes. These taxes will have completely different tax deadlines and rules than your personal tax return. Unlike a personal tax return, there are several business tax forms to choose from. It is important to work with a tax professional who understands your business entity, in order to file the correct form for you. For example, even though you only made $50 in your partnership, a 1065 tax return must be filed to the IRS and state.

  • Form 568 – California Limited Liability Co. (as part of an Individual Tax Return)

  • Form 1120 – U.S. C-Corporation Income Tax Return

  • Form 1120S – U.S. S-Corporation Income Tax Return

  • Form 1065 – U.S. Partnership Return of Income 

  • Schedule K-1 – Only For U.S. Partnership Return of Income (per schedule)

  • Schedule D – Capital Gains and Losses (see form 8949)

  • Schedule E – Supplemental Income (per item)

  • Schedule F – Profit or Loss from Farming

  • Form 2553 – S corporation election

  • Form 8832 – Entity Classification Election

  • Other Schedules & Forms Available

Entity Formation

An accountant plays a crucial role in assisting with entity formation due to their specialized knowledge and expertise in financial matters. While the process of establishing a business entity may seem straightforward on the surface, it involves intricate financial considerations that can significantly impact the success and sustainability of the venture. Choosing the right entity for you can be difficult, consult with a tax professional to understand the tax consequences your legal entity will bring in March or April. We help taxpayers choose between the following entities:

  • Sole Proprietorship Formation in California

  • LLC Formation in California (includes initial state filings fees, EIN, and S corp election if necessary)

  • Corporation Formation in California (includes initial state filings fees, EIN, and S corp election if necessary)

Tax Planning

The period of tax planning commences on October 1st and concludes on December 31st. Subsequently, the tax filing season initiates on January 1st and extends until April 15th. Once the new year approaches, there is little you can do to affect you tax liability. Plan ahead to know what your tax liability will be next year.

We specialize in devising strategic action plans to provide business proprietors with a comprehensive plan of their present standing, desired objectives, and the optimal pathways to attain those objectives. A concrete instance of our approach involves the meticulous review and refinement of your financial records for the current year, enabling us to annualize your earnings and project potential tax liabilities. Our expertise also encompasses the identification of overlooked deductions, which serves the dual purpose of diminishing your tax liability and upholding the precision of your financial documentation.

  • Tax Planning and Compliance

Tax Debt Relief

Should the IRS send you a letter of any kind, respectfully forward it to our attention. We acknowledge the potentially unsettling nature of IRS communications, particularly those mentioning immediate remittance under threat of property liens or levies. It is worth noting that the IRS offers a range of programs intended to facilitate arrangements and mitigate certain financial burdens for taxpayers. Your interests are best served by arming yourself with professional assistance rather than navigating IRS matters independently.

  • Installment Agreement

  • Offer in Compromise

  • Currently Not Collectible

  • Form 843 (Request for Abatement of Penalties)