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Accounts Payable Management is a task that involves overseeing all financial activities related to your business with regards to creditors – people to whom you owe money. The related transactions are recorded in the sub-ledger of the Accounts Payable during the time of invoice and made available as a liability on the business’s balance sheet. Our company Tax Depot has experts who are well-versed in all Accounts Payable levels with experience managing these operations. Along with this, we will provide updates on a daily basis for all the outstanding bills, balance reports, as well as access to vendors’ sales terms and conditions. Accounts Receivable Management is where all financial activities related to debtors are recorded on the ledger. Upon the creation of invoice, you will be able to see the details of people or entities to that owe you money, that are displayed in detail on the business’s balance sheet. Tax Depot has experts who will take care of accounts receivable management tasks in all AR levels through focus on improving cash flow, reductions of bad debt loss and increase of effectiveness of the Accounts Receivable Management system. Our accounting team will also provide the business an insight into the impact of various management decisions on cash flow.
Reconciliation means comparing two different sets of records and making sure that they match in all circumstances. This process is to ensure that there is a balance in opposing accounts (for example, asset vs liability). Some of the elements that need to be reconciled on a regular basis include, but not limited to, assets, liability, revenue, expense ledgers and equity. While internal reconciliation is an important practice, a third party service will ensure that balance is achieved in the overall bookkeeping system. This will also ensure the accuracy of your company’s data and pinpoint any issue concerned before it can have a negative impact on its operation. Tax Depot offers a comprehensive bank and credit card reconciliation service on a monthly basis irrespective of the number of bank accounts or credit cards your business holds. This will protect the business from fraudulent activities. Our company will work round the clock to identify discrepancies and provide the most accurate form of bookkeeping service through account reconciliation.
Balance Sheet Preparation and P&L Statements prepared by our company will help you determine the financial state of your business. These statements are meant to provide complete picture of the effectiveness of your business strategies and management efforts. Our company will review these statements on a regular basis to make sure that they are accurate and fine tuned for improving business performance and production. In addition to these reviews, our experts will also provide insight into checks and balances to ensure reliability and effectiveness of the data. In essence, with Tax Depot, you will be able to get a clear picture of your individual or business assets and liabilities. We are aware of the importance of preparing and reviewing necessary documents and statements for your business. And we are ready to work with you to maximize profitability for your short as well as long term needs. Our experts will identify the right opportunities through little-known but time-tested methods for growing wealth safely and predictably.
Tax Depot can assist with Sales Tax Registrations &Filling in any state, which – in most cases – can be filed with fairly short turnaround time. We can also help you obtain your Resale Certificate (Reseller Permit) in order to purchase items wholesale. Tax Depot is also able to handle any of the necessary prerequisites, such as Foreign Qualification and Registered Agent.
· Business are required to register to collect Sales Tax in the state where their principal place of operations takes place (their “home state”) and if business category is taxable.
· Business is required to collect and report the sales tax filling monthly/quarterly/annually depend on their gross sales
Most small businesses need a combination of licenses and permits from both federal and state agencies. The requirements and fees vary based on your business activities, location, and government rules. The licenses and permits you need from the state, county, or city will depend on your business activities and business location. Your business license fees will also vary. Some licenses and permits expire after a set period of time. it's often easier to renew than it is to apply for a new one. At Tax Depot, we assist you obtaining all required licenses for your new or existing business. Give us a call at (855) 698 1040 or email us.
· Processing professional payroll, whether salaried or hourly. We also provide you with the option of using Direct Deposit.
· Helping establish independent contractor payments based on Form 1099-MISC.
· Preparing and filing all of your quarterly IRS payroll documentation. We will also provide our expert assistance with payment processing.
· Preparing and filing your year-end 1099, W-2, and W-3 documents.
· Providing precise calculations of all local, state, and federal taxes that are owed by your business.
· Accurately tracking all of your employees’ sick and vacation pay accruals. When you entrust your payroll to our team of specialists, you can rest assured that each step will be completed with the knowledge and skill born from our extensive experience. We understand that payroll is one of the most time-sensitive aspects of any business, and thus we will process all necessary documentation in a timely and efficient manner.
New Business Formation Requires A Professional Touch. New business formation can be a complicated affair for anyone unfamiliar with standard business practices. Forms must be filed in a timely matter. Accounts, projections, and reports must be accurate. At Tax Depot, we can assist any new business with a checklist of start-up services. Any business must be prepared for the day to day operations, in addition to the quarterly, yearly, or five-year goals.
At Tax Depot, our clients are immediately matched to an Account Manager. Tax Depot would like to offer its business management services to you. We have accounting, consulting, and technical services available to ensure the success of your start-up business. We have experience with many industries for your new business formation.
Services Tax Depot Performs:
– We will recommend your type of business entity.
– We can incorporate or form your business (LLC, LLP, LP, PLLC, C corp, or S corp).
– We will apply for your Employer ID Number (EIN).
– We will assist you in executing the Operating Agreement for the business.
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