With this post I wanted to take a step back and give you an idea of why I started my own practice, what my goals are, and what tax and accounting services I am offering.
When I started college it was always my intent to own my own accounting practice, but at 18 I didn’t realize — until I started working in the accounting field — just how much knowledge and experience was needed in order to get to this point. I have worked in both public and private accounting since earning my degree. I passed the CPA exam after transitioning back to public accounting and continue to learn each day about tax regulations and accounting standards, as both are continually changing.
My goal with starting my own company is to have a continual relationship with each of my clients. I want to help my clients grow in their careers or businesses by assisting with planning and knowing what to expect throughout the year. I like to hear from my clients on an on-going basis, whether sharing exciting news or dealing with challenging events in their lives and careers. Planning keep things moving along, no matter what is going on. I know from my experience and interactions with clients that sometimes it’s difficult to give due attention to accounting and financial issues, which is why my goal is to help with accounting so they can continue to grow and focus on what they are good at.
Tax and accounting services I am offering include:
- Tax preparation services including:
• Partnership tax returns form 1065,
• S Corporation tax returns form 1120S
• C Corporation tax returns form 1120
• Gift tax returns form 709
• Individual returns form 1040
• Estate and Trust tax returns Form 1041
• IRS Representation
• Entity Selection
• Tax planning throughout the year
- Audit, Review and Compilation Services – these services are for business looking for a set of financial statements to give to a creditor or investor. The level of services is based on the need of client. Compilation is the lowest level of service because there is no testing of account balances and no assurance on the statements; while auditing gives reasonable assurance that the financial statements are free from material error or fraud. This level of service requires testing of the individual transactions and confirming balances with outside sources. Reviewed financial statements fall between the two previously mentioned. There is limited assurance because there are inquiry and analytic procedures required by the accountant .
- Bookkeeping Services – these services are done on a regular basis based on the client’s needs. It includes entering accounts receivable and payable as well as reconciling cash and credit accounts. This services is being provided to offer that chief financial officer (CFO) knowledge to small or start up business that wouldn’t have the cash flow to hire a CFO.
- After the Fact Payroll – this is preparing quarterly payroll tax forms and reviewing payroll quarterly to keep a company in compliance. The client prepares the payrolls for their employees and pay the liabilities associated with those wages while I review those payrolls and prepare the federal and state filings.
- Consulting – this includes a range of items including setting up company books, helping determine the most appropriate accounting software for a business, and working with clients to set up procedures to help eliminate errors or fraud in financial reporting. This would also include helping to set up checks and balances to make it more difficult for fraud to occur within the company.
If you are looking for any of these services or know somebody who is and need more information feel
free to contact me, I would be happy to give more detail on any of these services or discuss how I could help.
The Wassman CPA Services website and blog is meant to offer general information to our readers. The information provided is not intended to replace or serve as a substitute for any accounting, tax or other professional advice, consultation or service. You should contact Wassman CPA Services for advice concerning specific matters prior to making any decisions.
