Services - Annual Compliance and Consulting Contract
Objective
To fulfill the needs of the client for accurate accounting information and the timely filing of federal, state and local tax returns. Include time for year-end and mid-year tax and financial planning. Give the client the opportunity to call in to ask questions and deal with issues that concern them.
Description of Process
We begin in November with a client meeting to define how their compliance and consulting needs will be met in the upcoming year. Also, project the year end accounting results and corresponding tax liabilities. Review and discuss alternative strategies for reducing the tax liability of both the business and the individual owners.
In late January or early February, analyze the client’s accounting records to determine if they are sufficiently accurate to allow for the preparation of financial statements and tax returns. If not, examine the accounting records and propose adjusting entries for the client to make.
Prepare financial statements and tax returns. Deliver, review results and discuss with client. Plan for the upcoming year and determine if there will be any significant differences from the year just completed.
In June or July, schedule a meeting with the client to review the results of operations, and projections for the remainder of the year. Discuss changes to tax planning if necessary. Review changes in the tax law and how it will affect the client. Inquire about changes in business operations and how they may affect the tax plan.
Encourage the client to call us throughout the year by agreeing that phone calls to ask a question or discuss opportunities or threats will not result in an invoice. The clock isn’t ticking when on the phone with a client.
In October, wrap up the contract for the past year, and prepare for the year end meeting.
| Services |
| What We Do |
| - Compliance Needs |
| - Operational Opportunities |
| How We Do It |
| - Small Busniess Services |
| - Services for Indiduals |
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