Services

Comprehensive Tax Planning + Preparation

• • Federal and States
    We prepare all federal forms and schedules as well as all 50 states and the District of Columbia

• Individual
  We provide tax filings for individuals, married couples, and heads of households. Individual filings can contain investment income, small business activities, rental properties, capital gains and losses, foreign income, and a variety of other special circumstances. We help individuals recognize areas of tax savings as the collection of federal and state tax laws become ever more complex.
• Non-Profit
  We prepare a variety of annual federal information returns for all sizes of non-profit organizations. We can help your non-profit remain in compliance with federal and state regulations.
• Businesses
  If you are organized as a proprietorship, a partnership, an s-corporation or a c-corporation, we can prepare your federal income filing as well as every state in which you do business. We can help you maximize your business’s profit potential by taking advantage of the optimum structure and utilizing tax savings.
• Estates and Trusts
  Your or a loved one’s estate may be required to file one or more federal and/or state returns. We can help you determine what filings are necessary and complete them for you. If you have formed or are planning to form a trust, we can help with the initial planning and annual filings. If you are the beneficiary of a trust, we can answer your questions about benefits received.

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Accounting Services

• • Reconciliation – Accounts and Statements
    We can assist you in or completely handle the reconciliation of your bank, credit card, and loan statements making sure that they agree with your books and records.

• Monthly / Quarterly Write –up Services
  We can transfer your daily business activities to a bookkeeping system, including journals and a general ledger, providing reporting monthly, quarterly, and/or annually.
• Payroll Tax Reporting – Federal, State, Local
  We provide quarterly and annual reporting of wages and taxes withheld to the federal government as well as the 50 states and the District of Columbia. We also provide information returns such as the 1099 series of income reporting. We file gross receipts and sales taxes as well as other local income taxes.
• Business Planning + Budgeting
  We can assist you in planning and budgeting for the future success of your business helping to identify adequate cash flows, operational savings, and efficiencies.

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Statements

• AICPA-GAAP
  We have a thorough understanding of Generally Accepted Accounting Principles. We apply those principles to your accounting work making sure your books and records are in compliance with generally accepted practices in your industry and accounting principles nationally. We and are a member of the American Institute of Certified Accountants. Paul Willbanks is a licensed CPA in Delaware and Maryland and authorized to practice in all 50 states and the District of Columbia.
• Special Purpose
  Your bank, surety, or other agency may require a special statement of your activities. We can turn their requirements into a successful communication of your activities.
• Management – Internal
  You may have a special need for internal reporting that reports the activity of a single line of business, activity, or investment. We can provide the reporting or help structure a report you can administer.
• Third Party – External
  We can provide statements required by banks, sureties, and others that conform with GAAP. We do not prepare Compiled, Reviewed or Audited financial statements. If you require a Compiled, Reviewed, or Audited financial statement we have close working relationships with other local accounting firms for these services.

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Startups

• • Entity Selection
    Should your new business or venture be a sole proprietorship, a partnership, or a corporation (S or C)? We can help you make that decision as well as the decision of whether your will be reporting as a not-for-profit or a for-profit entity.

• State Registrations
  We can assist in some state entity formations, registered agent and name changes as well as initial registrations for business licenses and other employer accounts.
• General Ledger
  We can help you set up your initial chart of accounts determining what items of income and expense categories you wish to setup and record. We can also help you in identifying all your assets and liabilities and keep these important areas current.
• Payroll
  Do you (should you) pay weekly, bi-weekly, semi-monthly, or monthly? What taxes need to be withheld? What paperwork is required? We can help with these decisions and explain the requirements. We provide executive and small batch payroll processing and can recommend a provider for larger regular payrolls. We can identify all the required semi-monthly, monthly, quarterly, and annual reporting to the federal government, state governments, and to your employees. Lastly, we can help insure your payroll and all related expenses are properly recorded in your books and records.