BUSINESS TAX AND
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Business Tax Services
TAX PLANNING IS A COLLABORATION...
From start-ups to established enterprises, businesses rely on tax planners and business advisors to ensure they pay no more than their fair share of taxes.
LVATP team of seasoned tax professionals and accountants provide business tax services anywhere in the U.S.
We work as a team to ensure that you are tax efficient by using all of the available deductions and credits afforded your business. We teach you best practices to capture and document business expenses, plan for your income and tax payments and help you identify and use your financial tools to make sound decisions.
Our holistic approach considers your tax outlook for not only the current year but for your long-term financial prosperity as well. Business tax planning requires more than a once-a-year appointment — it becomes part of a year-round discussion as we guide you and answer your questions any time you need us.
Tax Planning Services
When considering tax services, it is important to choose an accountant who is more than just a tax preparer but one that is a tax planner. At LVATP, we take the time to understand your business and your goals and develop tax efficient strategies to achieve those goals.
Our expertise and experience drive us to utilize thorough research and analytical tools in identifying optimal tax planning opportunities within both existing and ever-changing tax law environments.
Good decisions depend on good information. From start-ups to established enterprises, businesses rely on accurate and insightful financial information in order to manage profitability, capitalize on new opportunities and monetize their businesses.
LVATP accounting services help you maintain accurate records and get meaningful reporting. This information influences financial issues such as accounting system setup, cost-containment, profitability analysis, tax efficiency planning, budgeting, cash flow forecasting and building an income statement and balance sheet that accurately reflect the business activity.
General ledger review
Financial statement preparation
Accounting system setup and support
Expense review and management
Cash flow budgeting and forecasting
Independent Contractor Business Tax Planning
Independent contractors (or 1099 “employees”) are individuals who operate their businesses independent of their clients or “employers” and who generally report their net income on Schedule C on their personal tax returns.
Like any business entity, independent contractors need to manage their income, expenses and taxes. Without proper planning, independent contractors could pay as much as 15% or more in taxes than you should.
Your tax service needs go beyond income tax planning and should include strategy that incorporates entity structure planning, compensation and expense controls. At LVATP we help independent contractors reduce tax liability, get organized and employ tax strategies to help ensure they are not paying more than their fair share of taxes.
Accounting & Bookkeeping
As a business owner you have more important things to do than to keep your own books. We will work with you to develop a plan where we review your accounts, income, balance and general ledger on a timetable that works for you monthly at your office or ours. Let an experienced, detail-oriented member of our accounting team manage your books, so you can focus on the job of running your business and generating profits!
Our Business Tax Services
Reconcile your bank account
Generate an income statement
Generate a balance sheet
Clean up your general ledger
Financial Statement Review
LVATP shows business owners how to set up the basic financial statements of an enterprise using best practices. Our professionals will guide you through how to read the statement and, most important, how to manage your business using this valuable information.
Types of Statements
Balance sheet (or statement of financial position)
Cash flow statement
Statement of changes in owners’ equity or stockholders’ equity
General Ledger Review
The general ledger is the core of your company’s financial records. These records constitute the central “books” of your system. Since every transaction flows through the general ledger, a problem with your general ledger throws off all your books.
A professional review of your general ledger system allows us to locate any discrepancies such as double billings, unrecorded payments or items improperly coded to a balance sheet rather than to your income statement. We identify these discrepancies and fix the issues, making your books accurate.
Accounting System Setup & Support
Each business has different needs and different budgets for their accounting system. At LVATP, we work with our clients and identify what system best fits their needs and budget. We provide guidance on four specific decisions with regard to an accounting system, helping you understand the benefits and drawbacks of each choice you must make.
Accounting System Decisions:
Whether to use a cash or accrual accounting method
Select the proper software
Know what expenses should be tracked and create a chart of accounts
How to design and format your financial statements
Cash Flow Budgeting & Forecasting
Although profit may be the ultimate goal, it can’t become a small business owner’s sole focus, because without a successful cash management plan, profit can be meaningless. LVATP works with clients to gain a full understanding of their cash flow and how it impacts profit. This information is central to operating a successful small business.
Our team enables you to forecast cash flow in the short and long-term, in order to budget the smart way, protect yourself in lean times, and ultimately grow your business.