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accounting services

What’s Typically Included in Accounting Services

An accounting service provides a variety of services that are an integral part of operating a financially solvent business and maintaining compliance. It’s essential that Individuals speak with several firms before choosing one to ensure that it will be able to meet business needs.

Some accounting firms offer a comprehensive range of services, while others specialize in one or more areas. Business owners may have requirements beyond bookkeeping, payroll and tax filing. It’s critical that the accounting service provide the services unique to a particular business operation.

Bookkeeping and Payroll

Owning a business doesn’t automatically mean that the owner is good with the financial responsibilities of operating an enterprise. Accounting firms can process payroll, issue checks, and provide the appropriate forms for onboarding new employees. The firms help business owners monitor cash flow and may offer services for accounts payable, receivable and past due.

Taxes

An accounting service will provide advice and assistance in planning for tax time, prepare the necessary documents, and file federal and state taxes. The firm can also represent a client in IRS audits and reviews. Accounting services work closely with clients to identify beneficial strategies and business structuring to take advantage of tax laws. Services ensure that clients are in compliance with state and federal regulatory and tax laws.

Valuation and Financing

Businesses want to grow and that may include obtaining a loan to purchase new equipment or expand a facility. It can also encompass mergers and business buyouts. An accounting firm can provide the documentation to prove the company’s valuation, worth and growth for banks or investors.

Estate Planning

Businesses have needs for estate planning that are unique An accounting firm is adept at identifying those needs. The firm will work with an attorney skilled in estate planning to establish a family trust or business ownership transfer.

At Peavy and Associates PC our mission is to assist you with all your tax preparations, payroll and accounting needs.  We provide our clients with professional, personalized accounting services and guidance in a wide range of financial and business needs. Give us a call today and discover why our clients return to Peavy and Associates, PC year after year!

 

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accounting

Services Offered by Accounting Firms

An accounting firm offers an extensive array of services to meet a multitude of needs. They have highly trained CPAs that provide personalized guidance in financial matters of all types to maximize client profitability. They assist clients in creating strategies for the future, meeting financial goals, and minimizing tax liability.

Tax Services

Tax services encompass far more than simply filing taxes with the IRS at the appropriate time. Accounting firms help clients develop strategies and plans to reduce taxes on income, investments, and retirement distributions. An accounting firm will also assist clients in reducing taxes on gifts and their estate, along with optimizing available financial opportunities.

Accounting

Startups, established enterprises and sole proprietorships can all benefit from the services of an accounting firm for budgeting, corporate tax planning, and accounting systems. Many businesses provide profit sharing plans and employee benefits to attract and retain the best workers. An accounting firm will help clients establish those benefits in a cost-effective way.

Payroll

One of the biggest expenses for any company is its payroll and records must be kept meticulously. Accounting firms prepare payrolls, handle direct deposits and ACH payments, and take care of federal and state tax payments. An accounting firm will also prepare W-2s, 1099 statements, and provide clients with monthly and quarterly payroll reports.

Consulting

One of the many services provided by an accounting firm, and one of the most valuable, is consulting. Accounting firms help clients focus on what’s most important to them to achieve their financial goals through forecasting and cash flow budgeting. They create personal financial statements, provide ledger services, and clients receive litigation support.

Attestation

Individuals should choose an accounting firm that offers all three levels of attestation – audits, reviews and compilations. The firms conduct in-depth audits to confirm inventories, transactions, and account balances. Reviews are provided to ensure the integrity of information and compilations prepared for internal management.

At Peavy and Associates PC our mission is to assist you with all your tax preparations, payroll and accounting needs.  We provide our clients with professional, personalized accounting services and guidance in a wide range of financial and business needs. Give us a call today and discover why our clients return to Peavy and Associates, PC year after year!

 

Contact Us Today

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