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Services

Bookkeeping and Payroll Services
Business Consulting
Employee Benefit Plans
Estate and Gift Tax Planning
Financial Planning
Financial Statement Services
Income Tax Preparation and Planning
Tax Representation





Bookkeeping and Payroll Services

Bookkeeping is the foundation of accurate and meaningful accountability. Our firm will be glad to assist you with any of the following bookkeeping services:

· Preparing payroll and writing payroll checks
· Preparing all required federal and state payroll reports
· Preparing unemployment tax reports
· Preparing sales and use tax reports
· Preparing property tax listings
· Performing bank reconciliations
· Posting cash receipts and cash disbursements to the general ledger
· Preparing accrual and adjusting journal entries
· Preparing depreciation schedules for capital assets
· Preparing aged trial balances of accounts receivable and accounts payable
· Providing statistical analysis and account reconciliation
· Preparing monthly financial statements, including balance sheets and earnings statements

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Business Consulting

Our firm has helped many clients reach their maximum business potential. This potential can be reached by having strategic business plans. These business plans involve the following:

· Setting goals
· Identifying service or products
· Choosing a management team
· Defining specific target market
· Measuring results

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Employee Benefit Plans

Our firm can help you choose the correct type of retirement plan and choose the right type of investment and a third party administrator.

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Estate and Gift Tax Planning

Our firm has been helping clients plan for the proper distribution upon their passing. The connection between death and taxes is a reality that each client must face. Our mission in estate planning is to honor the clients wishes and make recommendations of specific strategies to help minimize the estate and gift tax. These recommendations will allow the heirs to keep the family business, farm, or securities in tact without having to pay a large percentage to the United States Treasury. We will work with your attorney and all of your respected advisors to make certain your goals are met.

Estate taxes are based on fair market value (FMV) of the asset and transferred. The use of a properly structured Limited Liability Company (LLC) will allow taxpayers to receive significant discounts from FMV which in turn will tremendously reduce taxes.

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Financial Planning

Financial planning involves many aspects such as the following:

· Asset protection from creditors
· College Planning
· Retirement Planning
· Business Planning
· Savings for next generation
· Tax Planning

All of the above types of planning require the use of various types of investment vehicles, cash, bonds, stock, mutual funds, and real estate. We can help you determine which is the best investment vehicle.

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Financial Statement Services

Our firm will prepare the necessary financial statements required by our clients. These statements are a vital source of information for management shareholders, partners, and creditors. Our firm prepares two types of financial statements.

Review: a review includes various analytical procedures to provide limited assurance to management that the financial statements conform to generally accepted accounting principles. This involves issuing a formal review report to management and owner.

Compilation: We will compile financial statements from client information without performing any audit testing or analytical procedures. This involves issuing a form compilation report to management and owner.

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Income Tax Preparation and Planning

"Any one may so arrange his affairs that his taxes shall be as low as possible; he is not bound to choose that pattern which will best pay the Treasury; there is not even a patriotic duty to increase one's taxes..." - Judge Learned Hand, Helvering v. Gregory.

Based on the above premise, our firm is dedicated and committed to helping all of our clients minimize their total taxes. A few of the strategies involved are:

· Shifting income between family members and other entities with lower tax rates
· Setting up retirement plans
· Setting up health savings accounts
· Income Recharacterization
· Cost segregation studies for accelerated depreciation on real property
· Minimizing the alternative minimum tax
· The use of 1031 Like Kind Exchange for real or personal property
· Income deferral via the use of correct accounting method, cash or accrual
· The use of defective grantor trusts
· The use of S-Corporations and C-Corporations
· The use of Partnerships and Limited Liability Companies (LLC)

Our firm will use the above techniques to prepare an accurate tax return.

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Tax Representation

Dealing with the IRS requires patience and experience. We help our clients during all phases on any IRS or state audit. Our services include:
· Income Tax Audits
· Sales Tax Audits
· Property Tax Audits
Our goal is to minimize the total cost to the client, including our fees.

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Go to Home Page About Sherif Y. Iskander CPA, P.A. Services Tax Tools Calendar Contact Us