Accounting Services in Fullerton, CA

Accounting Services – These services include recording business transactions, maintaining supporting records and preparing routine financial and operational reports.  Analyze the financial statements and related reports in order to identify opportunities for cutting costs as well as improving efficiency and product or service quality. Provide routine budget versus actual reporting in order to highlight potential opportunities for controlling costs. Use the accounting system to prepare historical and projected cash flow analyses in order to identify potential challenges and improvements for managing cash which a lifeline for all businesses. Use these historical analyses and any anticipated future business operation changes to predict future cash flows which may also highlight either the need for increased borrowing or the opportunity to temporarily invest idle cash. Use historical accounting data to prepare breakeven analyses which depict the minimal revenue necessary to recover fixed and variable operating costs. Use these analyses and any contemplated business operation changes to predict breakeven points so that the client can better gauge and plan for the impact of these changes on related revenues and expenses.

Perform standard, routine accounting functions such bank account reconciliations to ensure that all business transactions are identified and accurately recorded on a timely basis. Provide routine receivables and payables aging which enables a business owner to better plan their specific short-term sources and uses of cash and also determine whether their receivables collection and payable remittance procedures are adequate.  Accurately provide any required regulatory or government accounting related reports on a timely basis to ensure on-going compliance. For example, State Sales and Use Tax reports. Provide Controller services including managing and developing in-house accounting staff as well as developing, implementing and enforcing accounting policies and procedures that promote accuracy, timeliness and asset protection while also decreasing fraud risk.   

Accounting Systems Consultation – Identify the client’s accounting requirements by first learning about their specific business and identifying any special financial, regulatory and/or operational reporting requirements. Identify the capabilities of their current accounting software by reviewing any available system documentation, data entry screens and output reports.  Identify how the client uses these capabilities by meeting with them and discussing their routine procedures for gathering, recording and maintaining supporting documentation for the transactions they enter into this system. Compare current accounting system capabilities and procedures to any special financial, regulatory and/or operational reporting requirements which the client may have. Provide unbiased recommendations for improving the current accounting system and procedures in order to better meet these reporting requirements.  Assist in implementing these recommendations. This assistance can include installing new accounting software, electronically selecting those processing options most advantageous for the client, designing and implementing the chart-of-accounts, establishing the opening general ledger account balances, implementing interfaces between the general ledger and related payroll, accounts receivable, payable and fixed asset processes and provide on-going post-implementation support.    

Payroll Services – Identify the specific payroll processing requirements by reviewing the current payroll procedures and discussing these procedures with the client. This includes assessing their current payroll procedures in light of government reporting requirements and any specialized labor cost reporting requirements the client may have. Provide unbiased advice as to how to fulfill all of these requirements in an accurate and timely manner. This advice can include either completely outsourcing the payroll processing or outsourcing some processes while retaining others in-house. Provide expert set-up of employee names and related reference data such as addresses, job classifications, pay rates, withholding allowances, etc. into an automated payroll system. Prepare and deliver paychecks. Record the paychecks and related tax withholdings into the accounting records. Prepare and file the necessary quarterly and year-end related government reports and assist in effecting the required withholding and payroll tax impounds. Analyze payroll costs in order to identify any opportunities for either reducing these costs or maximizing the effectiveness of payroll dollars spent. Provide dedicated, on-going personalized service. 

Income Taxes : Tax Preparation and Tax Filing – Meet with the client and review their prior year income tax returns in order to identify their specific income tax preparation needs and preliminarily identify potential strategies for minimizing their current and future tax liabilities. Answer any client questions regarding State or Federal tax law. Review any documents the client may have questions about and advise them of any related tax consequences. Proactively advise clients on any major transactions they are contemplating which have potential income tax ramifications. Identify any opportunities for amending prior year tax returns that failed to minimize the client’s tax liability. Provide unbiased advice for how to best fulfill the client’s tax preparation needs while also minimizing their current and future overall income tax liabilities. Prepare Federal and State income tax returns for individuals, estates, partnerships and all forms of corporations. Retain copies of all of these returns. Prepare any out-of-state income tax return accurately and quickly. Prepare back year tax returns and, as mentioned, amend previously filed returns as far back as is permissible under law. Assist is resolving IRS and/or state tax audits and collection problems. Represent clients in front of either the IRS and/or state tax officials in order to resolve these audits or problems in the best interests of the client. Satisfaction and accuracy is always guaranteed with both personal and business income tax returns.  

Tax Planning – Provide unbiased advice for minimizing each client’s overall income tax liability while also helping them achieve their financial goals. Moreover, this planning includes analyzing a client’s financial situation or plan from a tax perspective in order to offer suggestions for aligning their financial goals with efficient tax planning. Tax planning assists clients in identifying how to accomplish their financial plan in the most tax-efficient manner. This planning also allows the other elements of a financial plan to interact more effectively by minimizing tax liability. Tax planning contains many different elements, including income timing, purchases, and other investments.

Tax planning also includes reducing the income tax consequences of a transaction or arrangement by shifting the timing of a taxable event and/or shifting income to another person.  Tax planning can prevent financial dilemmas arising from uninformed decisions. This planning includes researching questions regarding income tax laws and regulations of a specific event or transaction in order to provide clients with the necessary information to make sound financial decisions.  Tax planning services include meeting with the client and reviewing their prior year tax returns in order to identify their specific situation and discussing their financial plans and goals.

Property Taxes – Assist in lowering personal and real property taxes arising from overvaluations by County Assessors. This service includes analyzing Assessor property valuations for reasonableness and adherence to related County policies as well as preparing and submitting the necessary forms and documentation to reduce overvaluations. Real property tax overvaluations can often be by remedied by simply identifying recent sales of property comparable to the property in question and then executing the county government prescribed steps necessary to reflect an accurate valuation by taxing authorities. This service includes representing clients before taxing authorities.     

Retirement Planning – Provide unbiased advice for identifying the correct investment strategy that will enable a client to accomplish their retirement income goals within their envisioned pre and post-retirement timeframe. The first step, of course, is to meet with the client and identify their retirement goals in terms of time frames and financial requirements. After doing this, advice will be rendered for selecting the appropriate mix of short, mid and long-term investment assets in order to meet these goals and doing so with a level of financial risk that is also acceptable to the client. It is important that this asset mix not only provide for adequate financial growth but also do so in a prudent manner that does not expose the client to either undue financial risk or a level of risk which they prefer not to live. Periodically update the investment strategy and asset mix to reflect changes in the pre and post-retirement timeframes as well as any changes in investment options, tax laws or client risk tolerance.

Daily Money Management For The Elderly – These services include bill paying, checkbook balancing, investment and insurance reviews as well as keeping track of assets and coordinating efforts with other financial professionals. Such services also greatly reduce the risk of an elderly parent becoming a fraud victim. In the past, children usually were the ones who provided help when parents got older and required assistance. Today, it is more common for adult children move far away from their parents than past generations.  This makes it extremely difficult to provide direct assistance with financial matters.

Management Advisory Services – This includes a vast array services for improving business performance, reducing costs and implementing administrative and operational procedures that will increase efficiency and safeguard business assets from theft and fraud. These services include analyzing the existing accounting procedures to determine whether these procedures facilitate accurate and timely financial and management reporting. Another service includes assessing the client’s existing procedures for ensuring the accuracy and protection of software based data as well as providing for continued access to this data in the event of disaster. An additional service includes assessing the controls over operational processes involving warehousing, manufacturing, field or branch operations, decentralized professional services and retail sales to determine whether these controls adequately promote efficiency as well as employee accountability, safeguarding of assets and compliance with relevant government requirements impacting either employees or operational processes.

Upon completing any of the above analyses and assessments, additional service can be provided in designing, documenting and implementing the necessary procedural enhancements to help ensure adequate controls over accounting processes, software based data and operations.

QuickBooks Training – You might ask yourself: Where do I begin with QuickBooks or how do I setup my customers? How do I reconcile my accounts or setup billing for my clients? We provide QuickBooks training to get you on track with a great tool to help you manage your business.  After training, we also provide personalized QuickBooks how-to support services to personally assist you as you grow your business.

Tax Resolution Services to Resolve Back Taxes – Receiving a notice from the IRS relating to fines or owed taxes is not a pleasant experience. Personally dealing with the IRS on the phone or writing letter can actually make the situation worse. Let us work out the tax issues and negotiate on your behalf so that you can be rest-assured.  Our tax resolution service works hard to have the the least tax impact possible when resolving your back taxes. Trust the professionals in this area, as we thoroughly understand the process and do this everyday.