Accounting and Tax Facts

• The 2007 mileage rate is 48.5 cents per mile.
• The 2008 mileage rate is 50.5 cents per mile.
• The 2007 IRA contribution limit is $4,000 for most taxpayers.
• The 2008 IRA contribution limit is $5,000 for most taxpayers.
• Personal and dependent exemption amount is $3,300.
• Capital Gains maximum tax rate is 15%.

Business Tax Returns (Corporations, LLC, & Partnership)
	We prepare Corporation (1120), S-Corporation (1120S), LLC (1065), Partnership (1065), and Non-Profit (990) tax returns using the most current tax law and IRS tax codes to minimize your taxes and maximize your cash flow. We also consult with each business owner in order to determine the best business entity for your organization.
Individual Tax Returns
	We prepare Individual (1040) tax returns using the most current tax laws in order to maximize your deductions and minimize your income taxes. We have clients from many states such as North Carolina, Virginia, Texas, South Carolina, Louisiana, Massachusetts, New Jersey, and we are authorized to prepare income taxes in all states.
Financial Statements - Compiled and Reviewed
	We can prepare compiled or reviewed financial statements for use by management, banks, and investors. These financial statements include a Balance Sheet, Income Statement, and Statement of Cash Flows. We also take time to explain these financial statements and train the user how to evaluate them. We also offer projected or forecasted financial statement which can be used in Business Plans.
Monthly Bookkeeping
	We provide monthly accounting or bookkeeping services for our clients that are too busy building successful businesses to spend their time with these tasks. Our philosophy is to help relieve the business owner of these accounting tasks so that he or she can spend time on more important duties such as developing and managing the company. These services include entering deposits, entering and/or writing checks, and balancing the bank statements.
Payroll and Payroll Tax Reporting
	We can help relieve the payroll and payroll tax reporting burden. This includes preparing weekly, bi-weekly, or monthly payrolls, preparing monthly and quarterly payroll tax reports such as 941, 940, Employment Security Commission reports, and state income tax withholding reports. We also prepare the annual W-'s and 1099's. We also have relationships with payroll service companies such as Paychex, Primepay, and ADP, and we would be glad to introduce you to one of these services at your request.
QuickBooks and Peachtree Software Implementation and Training
	We can help determine which software is best for your business, and then complete the software implementation and training with your staff. We can save your company money by reducing the number of hours that you and your staff would spend on learning these software packages by using our numerous years of experience.
Budgeting
	Does your company have an annual budget? We can help create a budget and produce monthly reports that compare actual to budget. This is a great tool for managing your company’s income and expenses.
Cash Management
	We can prepare cash flow requirement and projection reports in order to help your company manage the daily, weekly, or monthly cash flow fluctuations. We also advise you on ways of maximizing cash flow.