Services

Full Cycle Bookkeeping Services We offer bookkeeping packages either monthly, quarterly, or annually. This can be determined based on your needs & budget. We have experience serving various industries, and our services are customized to fit your needs. We know that professionally prepared bookkeeping goes a long way in helping you understand the health of your business. Therefore, we aim to provide high-quality and meticulous service that will clarify your business's financial strength. You are free to request bookkeeping only, or you can choose to add on the following services as part of your request: Budgeting & Forecasting Cash Flow Analysis Financial Statement Preparation Get started now!

Individual tax return preparation & filing Preparing your tax return can be an overwhelming task for many. Often, those who have taken on the task themselves may easily overlook deductions and credits to which they were entitled. This is where an experienced tax professional can help. With our expertise, you can rest easy knowing that your return has been prepared correctly and thoroughly scrutinized to ensure that no credits and deductions were left out. Request service now! Business tax return preparation & filing Reporting and compliance involve various tasks such as filing returns, selecting the right options, reviewing and responding to assessments, and so on. For business owners, fulfilling these obligations and corresponding with the authorities can be confusing and time-consuming. At Precise Accounting Services, we take a proactive approach to handle all necessary filings accurately and on time, allowing you to concentrate on other aspects of your business. Request service now! Strategic Tax Planning Strategic tax planning is the process of identifying legal ways to minimize your tax liability, while still complying with all tax laws and regulations. This involves analyzing your financial situation to identify potential deductions, credits, and other tax-saving opportunities. By taking a strategic approach to your taxes, you can ensure that you are not overpaying, and that you are able to keep more of your hard-earned money. At Precise Accounting Services, we specialize in strategic tax planning for individuals and businesses, and can help you navigate the complex world of taxation with confidence. Request a session now! Tax Review It's not uncommon for individuals who file their tax returns themselves or use amateur tax professionals to end up with a hefty tax bill due to improper preparation. In such cases, it is essential to conduct a thorough review to identify missing deductions, credits, incorrect information, and other errors that may have been made. Request service now!

Unfiled tax returns If you need to catch up on years of unfiled taxes, we can help you become compliant with the IRS and state tax authorities by filing only what's necessary. Wage Garnishment and Levies A wage garnishment is when the government orders your employer to withhold a portion of your wages to pay off your tax debt. Unfortunately, the IRS has the authority to garnish your wages without considering your ability to pay bills. On the other hand, a tax levy is when the government seizes assets, such as bank accounts, real estate, or vehicles. The government may also seize assets from third parties, such as a client or vendor who owes you money. If you are facing wage garnishment or levy, we can help protect your income and assets from the IRS. Additionally, we can develop a proactive plan to avoid any future garnishments and levies. Tax Lien resolution If you have a large outstanding balance of unpaid taxes owed to the IRS, you may be at risk of having a tax lien placed on your assets. A tax lien is a legal claim placed on property, bank account, or other assets by the government. It serves as a way for the government to secure the payment of taxes owed and can result in a levy if the taxes remain unpaid. It is important to address tax liens as soon as possible to avoid further penalties and potential legal action. If you are facing a tax lien, we can assist with finding a solution that works for you. Penalty Abatement Have you been faced with significant IRS penalties? If so, we can analyze your situation and identify opportunities for penalty abatement. A penalty abatement is the process of requesting the reduction or elimination of penalties assessed by the IRS or state tax authorities. The IRS may grant a penalty abatement if you have a reasonable cause for the penalty, such as a natural disaster or serious illness. It's important to note that penalties and interest can add up quickly, so it's best to address them as soon as possible to avoid additional costs. Offers in Compromise Are you struggling with tax debt and want to settle it for less than the full amount? With an Offer in Compromise (OIC), you can do just that. An offer in compromise (OIC) is a tax settlement program by the IRS, which allows taxpayers to settle their tax debts for less than what they owe. This program is designed to help taxpayers who are unable to pay their tax debts in full and are experiencing financial hardship. Let us help you determine your eligibility for an OIC and prepare a comprehensive application that increases your chances of approval. Throughout the OIC process, we will ensure that you remain compliant with IRS guidelines. Tax debt relief options We can help you explore alternative tax relief options, such as innocent or injured spouse relief or Currently Not Collectible (CNC) status. Get started now!

Full-service payroll processing & reporting We provide full-service payroll for small & medium-sized businesses. You will receive unlimited payroll runs with direct deposits. Payroll taxes will also be collected and filed with all governmental reporting agencies. Year-end compliance will also be included, most importantly W2 distributions to employees. Finally, we do accommodate direct deposits and 1099 filings for contractors. You are free to request full-service payroll only, or you can choose to add on the following as part of your request: HR Compliance assistance Employee benefit administration Request service now!

Business entity selection & consulting This service helps business owners determine the appropriate legal structure for their company. This includes choosing between sole proprietorship, partnership, limited liability company (LLC), S corporation, and C corporation. Precise Accounting Services offers expert guidance on the advantages and disadvantages of each entity type, taking into account factors such as liability protection, tax implications, and management requirements. We also provide ongoing consulting services to ensure your business structure remains optimal as your company grows and evolves. Book a session now! Entity comparison analysis This analysis compares the tax liability of two or more entities to determine the most tax-efficient business structure for business owners. This analysis helps make informed decisions about strategic moves that can help increase profitability and reduce taxes. Book a session now! Reasonable compensation analysis This analysis is critical for S-Corp and C-Corp shareholders/employees since it evaluates whether the compensation paid to you as an employee of your business is reasonable based on your job duties and responsibilities, industry standards, and market conditions. This analysis is important to ensure compliance with tax laws and regulations, particularly those related to compensation and benefits. At Precise Accounting Services, we can assist you with conducting a reasonable compensation analysis to help you determine if your compensation practices are in line with industry standards and legal requirements. . Book a session now!

Estate tax services Estate taxes are taxes imposed on the transfer of wealth when an individual passes away. Estate tax services are critical for clients with large estates, complex financial situations, or those who want to ensure their assets are distributed according to their wishes. At Precise Accounting Services, we offer estate tax services that help our clients with the preparation and filing of estate, trust, and gift tax returns. Our services are designed to ensure that our clients' estates are handled in a manner that is both efficient and compliant with all applicable tax laws. Get started now! Nonprofit accounting Non-profit accounting services are specialized accounting services that cater to the needs of non-profit organizations. These services help non-profit organizations manage their finances and comply with regulatory requirements. They include bookkeeping, financial statement preparation, budgeting, tax preparation, and compliance reporting. Precise Accounting Services has years of experience providing non-profit accounting services and can help your organization achieve financial stability and success. Get started now!