Services

REPRESENTATION

accounting-services-taxes-bookkeeping-6Received an Audit letter from the IRS? Freaking out? Need help? Audits take such large amounts of time away from your business and family. You’re forced to gather mounds of receipts, account statements and every record possible to substantiate each and every item that was reported on tax returns. It also requires you to be an expert in tax law, which at most times is very unrealistic, especially with tax laws constantly changing.

The IRS is on a mission to determine the accuracy of your tax return. If you don’t comply with the requests of the Auditors’, the IRS recalculates your tax, whether you like it or not. The will send you on your way with a hefty tax bill as your reward for all of your hard work and effort gathering up all of your records.

Many people, when faced with IRS tax audits, will decide to handle the audit on their own. Often times they underestimate the severity of an IRS tax audit and want to simply cut down on costs. These taxpayers soon realize they may have been “penny wise,” avoiding an accountant’s fee, but “pound foolish,” because they will end up getting stuck with a huge bill at the end of the IRS tax audit.

IRS Auditors are trained to pull more information out of you than you are legally obligated to provide to them. IRS Auditors realize that they have the ability to instill fear in taxpayers and that the typical taxpayer is unaware of their rights. As a result, they know they can use that fear and ignorance to their advantage.

My clients will rarely ever have to talk to the IRS. As an Enrolled Agent I will handle it all for you so that you need not take time off of your business or job to handle the bureaucracy and paperwork of the IRS. No lost wages or business. You simply forward notification of an audit to me and I handle it from A to Z.

If you’ve received an audit notice from the IRS, please fill out our contact form to receive a Free Consultation with Robin Rae, your tax specialist.

BOOKKEEPING

In today’s world, accounting services are frequently outsourced. Why pay a full-time employee when you can have access to a part-time seasoned professional?  I have experience working with a wide array of industries, and I understand the issues you face in your industry and as a business owner.

At Rae’s Accounting, LLC, I take the time to understand the critical issues specific to your business and help you identify potential problems before they arise. Is there something about your business’ financial situation that keeps you up at night? I want to help you develop a plan to address these issues. I understand that no two businesses are identical, and I will work with you to create a plan that meets your specific needs.

Whether you are trying to obtain financing, turn your business around, outsource your accounting functions entirely or you want to get an outsider’s perspective, Rae’s Accounting, LLC will work with you to make sure your needs are met.

I am often asked, “What does an Outsourced CFO do?”  Some areas where I frequently spend time with clients are:

  • Budgeting – Implementing and following a budget is a powerful way to ensure you achieve your financial goals. Whether you’re thinking of buying a piece of equipment, or want to spend more on marketing, be sure to ask yourself if your business can afford the transaction.
  • Cash Flow Forecasting – No one can predict the future, but carefully forecasting cash flow can ensure that your hard-earned income is put to good use.
  • Profitability analysis – Knowing what areas to focus resources on will make a big difference in overall profitability. Rather than dealing with issues as they arise. You can focus on the areas that will provide the greatest return and make your dollar go farther.
  • Accounting System Design & Implementation – Implementing an accounting system that provides the timely, accurate information you need is one of the most important ingredients to your business’ success. Having a solid accounting system in place will lay the groundwork for you to be able to rely on the financial data you receive. Rae’s Accounting, LLC, can help you set up and maintain a good system that provides the information you need.
PAYROLL

accounting-services-taxes-bookkeeping-8The typical payroll service providers are extremely expensive and unnecessary for small to mid-sized businesses. Rae’s Accounting, LLC specializes in cost effective, timely and accurate payroll processing for companies with 1-49 employees.

SERVICES INCLUDE:

  • Customized payroll processing
  • Full service payroll processing including direct deposit
  • State and Federal Payroll Tax Reporting

WHY RAE’S ACCOUNTING, LLC?

  • Friendly and experienced
  • Save up to hundreds of dollars
  • All costs are included in the monthly fee – no hidden charges
  • No set up fee or per W-2 fee
  • Improved cash flow for your business
  • No direct debits to your bank account prior to tax liability dates
  • Taxes are paid directly to agency when due
  • We bill monthly, not per payroll

SERVICES RAE’S ACCOUNTING, LLC WILL PROVIDE:

Set-Up – Initial setup of employees, pay rates, tax withholding and employer-paid taxes are handled by your dedicated payroll specialist prior to your first payroll.

Payroll Entry and Processing – Email, fax or phone in your payroll to your dedicated specialist.

Employee Payment Options – Pay employees and contractors by direct deposit, professionally printed checks or hand-write your own checks and receive printed pay-stubs. Unlike other services, there is no additional fee for direct deposit.

Payroll Reports – Comprehensive payroll reports including current and year-to-date calculations are uploaded to you via encrypted transfer through our client portal to your own personal client site. Access and print your reports at your convenience.

Payroll Electronic Payments and Filings – Federal and state tax payments and filings are processed electronically.

Payroll W2s/1099s – Year-end reporting forms are processed for distribution to your employees and independent contractors. These forms are electronically submitted to the appropriate federal and state government agencies.

TAX PREPARATION

tax-prep-florida-99Preparing your own income tax return can be a task that leaves you with more questions than answers. According to a study released by the US Government’s General Accounting Office, last year most taxpayers (77% of 71 million taxpayers to be precise) believe they benefited from using a professional tax preparer.

Whether we like it or not, today’s tax laws are so complicated that filing a relatively simple return can be confusing. It is just too easy to overlook deductions and credits to which you are entitled. Even if you use a computer software program there’s no substitute for the assistance of an experienced tax professional.

Here’s what you get…

Your tax return will be checked and rechecked by our computer software identifying potential problems the IRS may look at more closely and reviewing the math to limit IRS contacts.

Your tax return will be filed electronically so you will get your refund much quicker.

I will show you potential deductions to limit your tax liability for next year. In addition, I will give you a sheet of commonly overlooked deductions to limit the following year’s tax liability.

Books a Mess? No Problem! If you own a small business and haven’t kept up your bookkeeping, don’t worry. I can help you. I’ll prepare your bookkeeping for the year, prepare a full Schedule C, as well as your personal income tax return. Then I’ll help you set up an easy system that allows you to keep your books in tip-top shape next year.

If you’d like to receive more information about our Tax Preparation Service, please complete this form.

PREPARING FOR YOUR APPOINTMENT

What do I need to bring?
Download your own copy of our “Client Organizer” checklist to help figure out which documents you will need to bring.

Call First for Appointment?
Call or Schedule here.

Electronic Filing Offered?
Yes.

Drop-off Service Available?
Yes, strongly encouraged.

Required documents to keep on file:
Copies of Drivers License or State IDs
Social Security Cards
Proof of Residence for dependents claiming EIC

Income documents:
W-2s
1099s
Proof of jury duty pay
Proof of alimony you received
Social Security statement (1099-SSA)
Dividend and interest statements (1099-DIV and 1099-INT)
Retirement distributions (1099-R)
Brokerage statements (1099-B), along with statements showing when you bought and sold your investments.
K-1 statements reporting profits from partnerships, trusts, and small businesses
Record of income and expenses for your rental property
Record of income and expenses for your self-employment

(If you need copies of the above IRS forms, use our handy IRS document search tool)

Other tax documents:
HUD-1 Escrow statement for property you bought or sold
Summary of moving expenses
Summary of educational expenses (college tuition)
Summary of your child care, day care, or adult day care expenses
IRA contributions (traditional, SEP, or rollovers)
Student loan interest paid (1098-E)

Tax deduction documents:
Health care expenses (doctors, dentists, health insurance, eye care, medicine)
Real estate taxes
Motor vehicle registration
Mortgage interest paid (1098)
Gifts to charity
Last year’s tax preparation fees
Job-related expenses (union dues, job education, uniforms)
Loss of property due to casualty or theft
Gambling losses

How can I check on my tax refunds?
Tax Related Web-sites/phone numbers:
IRS www.irs.gov
IRS Get Refund Status
IRS Inquiry Phone: (800) 829-1040