CBS TAX ASSISTANCE

We Provide Tax Assistance For You & Your Business

In business, good record keeping is not only required by the government, but also essential for the success of the company.

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Annual Income Tax Assistance

Preparing your own income tax return can be a task that leaves you with more questions than answers.

Good records help you in the preparation of your tax returns, and provide the support you need for information reported on tax returns.

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According to a study released by the US Government’s General Accounting Office, most taxpayers (77% of 71 million taxpayers) believe they benefited from using a professional tax preparer.

Whether we like it or not, today’s tax laws are so complicated that filing a relatively simple business return can be confusing. It is just too easy to overlook deductions and credits to which you are entitled. Even if you use a computer software program there’s no substitute for the assistance of an experienced tax professional.

Purchases, sales, payroll, and other transactions you have in your business require supporting documentation. These documents contain information you need to record in your books. The responsibility to prove entries, deductions, and statements made on your tax returns is your burden of proof to be able to deduct them.

To help you monitor the progress of your business, you require financial statements based upon your receipts of deductible expenses.

Source: Internal Revenue Service

Books a Mess?
No Problem!

That's where we come in. If you own a small business and haven't kept up your bookkeeping, don't worry. We can help you. We'll prepare your bookkeeping for the year and then we'll help you set up an easy system that allows you to keep your books in tip-top shape next year.

We specialize in assembling and organizing records and receipts to help you get in compliance with state and federal requirements. The cost of “record reconstruction” is estimated as it must be billed on an hourly basis.

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Assistance For Non-Profit Organizations

The IRS uses these very specific revenue and expense classifications to determine if your organization will retain its tax-exempt status. So, it's imperative that you build your accounting system around these revenue and expense classifications. Each year the IRS requires most tax-exempt organizations to submit the Form 990 and its relations, which includes the following items.  

Income Statement

with very specific revenue and expense categories like donations, salaries, postage, rent...

Revenue Support Schedules

that detail the organization's sources of income in specific categories like charitable donations, membership fees, investment income.

Balance Sheet

with specific categories like cash, accounts receivable, accounts payable...

Functional Expense Statement

with all the expenses allocated to either program services, fundraising, or operations.

Individual Program Expense Statement

that reports all of the expenses for each program or service like seminar programs or educational mailings.

What we do for you...

  • Review and compile your financial statements
  • Design, install, and maintain your Accounting System
  • Weekly, bi-weekly, or monthly payroll preparation
  • Payroll Tax Preparation and Deposits
  • Provide training for your accounting personnel
  • Provide training for your board on non-profit financial statement usage and effective budgeting practice.

We can help you maintain your non-profit tax-exempt status. Call or Contact us to request a Free Consultation.

Grow Your Business

We Can Help You Stay On Track!

 You can customize the package of services you receive by adding bookkeeping, payroll, tax preparation, QuickBooks Assistance or any of our other services.

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