Maintaining Your 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 statements.
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 records are always accurate.
Prepare all State and Federal Forms
Timely preparation of all federal, state and county tax forms including payroll, sales tax and tangible taxes. This gives you peace of mind knowing your tax reports are correct and filed on time, saving you money in penalties and interest
Planning is the key to successfully and legally reducing your tax liability. We go beyond tax compliance and proactively recommend tax saving strategies to maximize your after-tax income.
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.
Here’s just a few of the Tax Saving Strategies we use…
- Splitting income among several family members or legal entities in order to get more of the income taxed in lower bracket.
- Shifting income or expenses from one year to another in order to have them fall where it will be taxed at a lower rate.
- Deferring tax liabilities through certain investment choices such as pension plans, contributions and other similar plans.
- Using certain investments to produce income that is tax exempt from either federal or state or both taxing entities.
- Finding tax deductions by structuring your money to pay for things you enjoy, such as a vacation home.
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.
- Verify that your business can easily handle the normal financial ebbs and flows of revenues and expenses.
- Decide if you need to take immediate steps to bolster cash reserves.
Find out if your business has been slowing down payables to forestall an inevitable cash shortage.
Call our office in Washington, DC, at (240)630-1869 or (202) 409-0600 for more information.