NJ Tax Preparation For Business Owners

Straight Talk CPAs’ Business Services

 

We are a one-of-a-kind Entrepreneurial CPA firm that uses a “Straight Talk” approach to guide 250+ businesses to pay the least amount of taxes legally possible, to maximize profits and reach their entrepreneurial goals.

Our approach is very different than most accounting firms. Our team of competent and trusted CPAs and advisors help business owners navigate through the regulatory complexities of doing business as well as providing advice to reach their goals and achieve higher profits.

Give us a call at (732) 566-3660 or CLICK HERE to schedule a FREE 30-minute “3x Profit Maximizer” Strategy Session. We can discuss which of our tools and strategies would be perfect for your business. Absolutely no obligation and no pressure. We’ll let you know at the meeting if we can help you.

“Financial and Tax Stewardship” Meetings

Get a briefing in “Plain English” on how to save money and make more money, Gain confidence by having a financial “sounding board” reviewing your key financial indicators with you. Receive expert advice to uncover potential “hidden goldmines” in your business that you are not even aware of. These meetings can be held in person at our office or online utilizing the latest technology so no travel time is taken away from your busy day.

Tax Preparation Services – Precise and Completed On Time

Your tax forms and worksheets will be submitted on time avoiding any chance of late penalties or fees…Our team of experienced professionals is handling your information with meticulous care, ensuring that every “i” is dotted and every “t” is crossed…We’ll review your taxes several times for accuracy, completeness and to ensure there are no looming IRS red flags.

“Throughout the Year” Money-Saving, Personalized Tax Planning

Saving money on taxes is your goal and our highest priority. We recognize your financial situation is unique and requires a personalized solution to provide the maximum amount of legal write-offs. You can expect to pay less in taxes and enjoy larger refund checks as a result of our diligent, year-round management of your tax-related finances. In fact, you’ll receive advice regarding any major transaction that may trigger significant tax liabilities. Our in-the-trenches experience with the IRS will give you access to dozens of tips, tricks, and techniques to lower your taxes.

Financial Statement Preparation – Done Quickly and Accurately

We will generate your Profit & Loss Statement, Balance Sheet and Cash Flow Statement quickly, honestly, and accurately so you can instantly analyze your business with numbers you can trust. This enables you to immediately spot potential problems before they become crises. These statements also help you to identify potential profitable trends your business should exploit and recognize areas of improvement that need to be acted upon. All designed to help you scale your business to greater heights.

QuickBooks HealthChecks

Discover how to put to effective use the most popular accounting software from our in-house QuickBooks experts. Our regular healthchecks ensure the integrity of the data and financial reports generated by the software. This is critical to reduce mistakes that can cost you money and lost time trying to reconcile. Ask about our additional QB set-up and training services if you’re new to QuickBooks.

Payroll Services

When it comes to paying employees, intricate and changing tax laws have made the payroll function a time consuming nightmare for small business owners. Straight Talk CPAs’ offers payroll solutions that meet your business’s needs and enable you to dedicate more time to the company you’ve built.

When you have us do your payroll, you save time and money and eliminate the risks of calculating and filing your payroll taxes incorrectly (because we keep up on all the rules the IRS is constantly changing).

Sales Tax Services

There are several sales tax traps awaiting to cause businesses unnecessary taxes, interest and penalties. Our experienced team can help you navigate the complex sales tax regulations and minimize the additional unnecessary costs from these taxes.

Audits, Reviews and Compilations

An audit provides the highest level of assurance. An audit is a methodical review and objective examination of the financial statements, including the verification of specific information as determined by the auditor or as established by general practice. You get the highest level of assurance because we go outside your company to obtain more information.

A Review is less extensive than an audit, but more involved than a compilation. A review engagement consists primarily of analytical procedures we apply to the financial statements, and various inquiries we make of your company’s management team. If the financial statements or supporting information appear inconsistent or otherwise questionable, we may need to perform additional procedures.

A Compilation is the lowest level of assurance. In compiling financial statements for a client, we present information that is the “representation of management” and expresses no opinion or assurance on the statements. Compilations don’t require inquiries of management or analytical procedures. Instead, we rely on our knowledge of accounting principles and a general understanding of your business.

Audit Insurance

What happens if your accountant makes a mistake that could incur penalties or interest? Suppose the IRS or state tax authorities audit you? What if you’re not satisfied with the way your return was prepared? Our audit insurance allows you to receive skilled representation before the taxing authorities if we ever make a mistake on your taxes without it costing you a dime. Most important, you’ll enjoy total peace of mind knowing that you never EVER have to deal with the IRS alone.

Tax Reminder Service

Don’t you already have enough on your mind? Isn’t this one of the many reasons you hired an accounting firm that is on top of all this? No more keeping tax deadlines in your head. Through our “Tax Reminder Service, we will make sure you send us all the relevant information for us to prepare your tax filings timely. No more headaches of remembering dates and deadlines. No more penalties and interest due to late filings. You can now focus on what you do best; let us worry about tax deadlines.

Employee Benefits Solutions

We assist our clients to find the perfect balance between a rich and comprehensive benefits program and a cost effective employee-benefits-package. We help you decipher through various insurance plans and help you choose one that will serve you and your business in the best possible way..

Tax Resolution Services

If ever receive that dreaded letter from the IRS we can help STOP the continuing letters, STOP the phone calls, STOP the bank levies, and STOP the collection process. Our experienced team has the experience and tools to deal directly with the IRS and restore your peace of mind.

Cash Flow Management

A cash crisis can be emotionally devastating for your business. If you’ve ever had to beg, borrow and steal to cover tomorrows payroll you know what I mean.

The starting point for avoiding a cash crisis is allowing us to develop a cash flow projection for you. Straight Talk CPAs’ can help you develop both short-term (weekly, monthly) cash flow projections to help you manage daily cash, and long-term (annual, 3-5 year) cash flow projections to help you develop the necessary capital strategy to meet your business needs.

Business Valuation

One of the most important things to a business owner is the value of their business. The valuation you get for your business can make or break a proposition.

Whether you’re negotiating a merger, considering new shareholders, attempting to resolve disputes associated with liability, shareholder equity, estate planning or marital dissolution, objective valuation can make the difference between loss or gain, success or failure.

Business valuation is not an exact science. It’s based on judgment, experience and relevant information.

Our approach is to intimately know your business in order to understand what constitutes its value. We work closely with you and the business valuation expert to analyze your operations and historical financial data. Our knowledge of your business enables us to provide a well-reasoned, fully documented and defensible valuation opinion.

Succession Planning

As uncomfortable as it seems, succession planning should be a priority for any family business. Developing and implementing a well-designed succession plan is essential to the survival of a family business from one generation to the next.

At Straight Talk CPAs’, we’ll help you figure out things such as: Are you going to pass the business on to your family or sell it to a third party? And Who’s going to run the business when you’re gone?

The tax burden when transitioning a family business can be significant. The challenge is that a family business is not generally a liquid asset, but taxes are typically due when ownership is transferred. We’ll help you minimize the tax bite.

New Business Formation

Opening your own business is exciting and thrilling. With that, a methodical plan of action is needed to fulfill your dream or goal of being your own boss and running a successful business. Success lies in the approach you choose to take. We help you avoid the common pitfalls that many new small business owners make when starting their new venture.

From preparing an initial business plan to clarify your marketing, management, and financial plans all the way to developing a solid Partnership Agreement – we’ve got you covered!

Non-Profit Organizations

We can help you setup and maintain your non-profit organization’s tax-exempt status by handling all the IRS reporting for you.

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.

If you’re starting a new not-for-profit organization we can help you prepare your organization’s 501 (c)(3) application for tax-exempt status.

Internal Controls

At times you may need a trained outside professional to evaluate your company’s operations to determine if the appropriate controls are in place to ensure proper handling of resources and to protect yourself from employee theft.

We assess your internal control systems to determine the efficiency and effectiveness of your operating procedures. Then we make recommendations that help your company become stronger and more profitable by correcting any inefficient or ineffective operating procedures we find.

Why not give us a call at (732) 566-3660 or CLICK HERE to schedule a FREE 30-minute “3x Profit Maximizer” Strategy Session. After meeting with us, you will know for certain whether your current CPA is truly providing you with the tools and strategies to take your business to new heights or if it’s time for a change.

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