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FinCEN (Financial Crime Enforcement Network)

File BOI (Beneficial Ownership Information) beginning Jan 1, 2024

IRS AUDIT

Click here to see examples

BOOKKEEPING & ACCOUNTING

PAYROLL
All States
Federal, State, County and City level Compliance

CFO Services

Business Loans

STARTUPS
New Business Setup
Incorporation / Organization,

Controller Services

Employee Retention Credit

New Voluntary Disclosure Program

Employers who received questionable Employee Retention Credits can pay them back at DISCOUNTED RATE;
Interested taxpayers must apply by March 22

INCOME TAX
Business and Individual
S Corp, C Corp, Partnerships, LLCs

Unmatched at finding your hard earned $ See examples here
Controlling and Minimizing tax while keeping you compliant
Not too aggressive, Not too conservative
Custom Tax planning
Creative Tax Strategies
Proactive

PAYROLL
All states
Federal, State, County and City level Compliance

Fast and Flexible
Local and Multi-state, all counties and cities
Compliance with federal, state, county and city laws
Employee Portal
Direct Deposit of net pay
Free Setup
No additional costs for Quarterly and Annual Payroll Returns, and W2s
E-sign I-9 and w-4
E-Verify
Customized tax planning for S Corp shareholder officers
New Hire Reporting
Verification of Employment Eligibility
Maintenance of personnel files
Retirement e.g. 401k, SIMPLE, SEP IRA
Health and other insurance
Garnishment
Background checking

Controller Services
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Overseeing day-to-day accounting

Up-to-date accounts
Periodic Reports
Month-end close
Reconciliations
Flux analysis
Tax compliance
Payroll compliance
Labor laws compliance
A/R aging and control
Maintain insurance
Manage bank relationship
Team meetings
Business planning and forecasting
Monitor KPIs
maintain effective financial controls
Profitability analysis
Cash management

IRS Audit
Business and Individual
Best results so far

We have what it takes to handle the IRS audits. Unmatched knowledge and experience
Best results so far
Many cases resulted in refunds also
Click here to see examples

STARTUPS


Choosing the Most suitable Business Structure
Incorporation / Organization
Business Licenses
Financial Statement Audits, Reviews and Compilations
Bookkeeping, Accounting, Analysis, and Reporting
Internal Control and Internal Audit Documenting Policies and Procedures
Cash Flow Planning, Controlling and Monitoring
Financial Budgets, Projections, and Forecasts
Help develop strategies, make decisions
Comply with accounting laws and regulations

BOOKKEEPING & ACCOUNTING

Client-Centric
Knowledgeable
Customized to your specific industry
Track business's financial progress
Accurate, customized, and purposeful reports
Detail oriented
Proactive

Financial Statement Audits, Reviews and Compilations

CFO Services
Your Personal and Effective CFO
Oversee, protect and improve your entity's finances

Manage bank relationship
Team meetings
Business planning and forecasting
Establish and monitor KPIs
establish effective financial controls
Tax saving strategies
Profitability analysis
Cash management
Secure financing
Review & Negotiation of contracts
Cost control measures
Custom designed policies & procedures

FREE INITIAL CONSULTATION

News

IRS reminds taxpayers, Jan. 16 due date for final 2023 quarterly estimated tax payments

IRS reminds those aged 73 and older to make required withdrawals from IRAs and retirement plans by Dec. 31; notes changes in the law for 2023

Your Personal Accountant

  • Individual Tax Returns

– Federal and all states

-Proactive tax planning

  • Business Taxes

    • C Corporation
    • S Corproation
    • Partnerships
    • Single Member LLC
    • Master and Series LLCs

  • Payroll

    • Discounted rate
    • Multi-state
    • County and City level withholding compliance
    • Direct deposit
    • Employee access to portal
    • Many more features

New Business Formation

  • Choice of Suitable Entity

  • Initial Tax Planning

  • Incorporation and Organization

Bookkeeping and Accounting

  • Customized reports
  • Monthly Financials
    • Income Statement
    • Balance Sheet
    • Cash Flow Statement
    • Flux Analysis

External CFO Services

External Controller Services

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We are Different

We do More !

  • Much more than just filling out forms.
  • Our goal is NOT to somehow file the tax returns within 30 minutes, get paid, and not contact you till next year.
  • Close personal contact.
  • Always stay in touch and keep you informed of changes in tax laws and how it impacts you and what should you do to stay in control of your taxes.
  • Quick response to your questions and concerns.
  • Timely completion of work
  • In-depth understanding and the solutions.
  • Reasonable and transparent fees
  • Unmatched IRS audit representations (Most outcomes are zero taxes and even refunds)
  • Audit Protection.
      • We stand behind our work. We will represent you free* of cost in case IRS randomly selects  to audit you.   –  *Conditions apply for free audit representation
          • *Individuals: You have provided us with the complete information at the time of preparation.
          • *Businesses: We do the monthly bookkeeping for you.

Our Services

Individual

We make all efforts and take time to understand your tax situation to find ways to minimize tax burden and maximize refunds. 

We will make our level best efforts to come up with a customized plan so that take control and plan your taxes and avoid all the surprises and penalty situation.

We prepare and file for all states within USA.

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Business Taxes

Be it domestic or international, transfer pricing issues or shareholder basis computation, Series LLC or a professional service corporation, we keep current with all relevant tax laws of USA and many other countries e.g. , Canada, England, India etc.

Our goal is full compliance and keep an eye on the trends and impact over the next multiple years to plan the taxes.

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Bookkeeping / Accounting

We understand that QuickBooks’ default reports are not much of use. 

We use our in-depth knowledge of accounting and software to design customized reports for you, which are easy to understand and useful in pinpointing areas where attention is needed. 

Our monthly financials include cash flow statements and flux analysis

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New Business Formation / Startup

We make all efforts and take time to understand your long-term and short-term goals, evaluate impact of taxes, organizational structure and help you choose suitable form of entity. 

We incorporate /organize in all state(s) within USA and many foreign countries.

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IRS Resolution

Getting a notice from IRS is not a nice experience. 

When you work with our IRS tax problem specialists we will analyze your situation and outline your options for you.

We can help solve your IRS problems and end the harassing phone calls.

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Payroll

We provide efficient, reliable payroll processing at a very reasonable price.

We provide check printing or direct-depositing of net pay to employees’ accounts , provide online access to employees, manage deductions, allowances, and withholding.

Stay compliant at County /City level.

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Visit Us

Prem Tax & Accounting Corp.

4260 Westbrook Dr, Ste 107

Aurora, IL 60504

www.smalltax.com