Tax Preparation
GoJo Accountants can assist you with preparation and E-Filing of your Federal and State income tax returns. Whether at the individual, small business, or sole proprietorship level, we will help you E-File your income tax returns in an accurate and timely fashion.
E-File ServicesIn addition to preparing your individual or business tax returns, GoJo will ensure that your returns are properly E-Filed with the IRS and appropriate state taxation authorities. E-Filing ensures that your returns are transmitted cleanly and in an accurate and timely fashion. By electronically filing your income tax returns to the IRS for expedited processing, you will receive any applicable refund in a matter of weeks.
Business Tax Return Preparation
GoJo will prepare your business, non-profit, or estate and trust tax returns, including the following:
- Form 1065 – U.S. Return of Partnership Income
- Form 1120 – U.S. Corporation Income Tax Return
- Form 1120-S – U.S. Income Tax Return for an S Corporation
- Form 1041 – U.S. Income Tax Return for Estates and Trusts
- Form 990 – Return of Organization Exempt from Income Tax
Individual Tax Return Preparation
GoJo will prepare your individual income tax return, also known as Form 1040, along with any other accompanying forms to the general return. We will also prepare any necessary accompanying tax schedules, ranging from Schedules A through E, depending on your unique tax situation.
Through our individual tax preparation services, GoJo will perform the following:
- We will prepare all of the appropriate tax forms for filing, along with scrutinizing all tax calculations for accuracy.
- Identify potential tax savings opportunities specific to your individual circumstances. High tax savings typically come from standard or itemized deductions, the QBI deduction, tax credits, and loss optimization. For an additional fee, GoJo can identify potential future tax savings by structuring tax planning procedures specific to your tax situation.
- GoJo will extensively review your income tax returns prior to filing with the IRS and any necessary state tax authority. We ensure to scrutinize each tax return for accuracy or any lingering errors. As an added check, your returns are analyzed by advanced tax software to minimize the potential for an IRS audit.
Tax Planning
Looking to improve your tax situation going forward? Depending on your specific circumstances, GoJo Accountants can walk you through several tax planning opportunities for you or your small business.
More InformationThrough our tax preparation services, GoJo ensures to maximize current year tax savings via available methods, such as deductions and tax credits. Although these methodologies are effective in reducing your tax burden, they are no substitute for the potential savings realized from long term tax planning. GoJo Accountants will work with you to create a long term tax plan that saves you thousands in future tax dollars owed, while empowering your personal and financial goals. Our tax planning services include, but are not limited to the following:
- Equity Compensation
- Cryptocurrency
- Sale of personal or business property
- Business Restructuring
- Passive Income Streams
- Tax Efficient Investment & Retirement Strategies
- Itemized Deduction Maximization
- Targeting Future Tax Credits
Bookkeeping Services
Struggling with maintaining accurate books and financial records for your small business? GoJo Accountants can help your small business streamline its financial recordkeeping process, installing and migrating financial data, in addition to performing outsourced bookkeeping services. If you would like to have a professional train you on QuickBooks or fine-tine your financial bookkeeping, GoJo Accountants can help.
Chart of Accounts Set-UpLooking to establish an organized Chart of Accounts (COA) for your business in QuickBooks Online or an alternative bookkeeping solution? GoJo can set up a COA specifically tailored to your business type, ranging from part-time sole proprietorships to mature corporations. The creation of an organized, efficient COA will go a long way in simplifying bookkeeping during year-end!
Bank Reconciliations
While a clean set of books is a key objective for every accountant, it’s also important to match your company’s accounting records with its monthly bank statements. By leveraging QuickBooks Online, our bank reconciliation services ensure that every deposit and withdrawal match up to your accounting records. The bank reconciliation process allows us to identify any discrepancies on deposits, lost checks, unauthorized vendor payments, and inappropriate bank fees. It triggers easy investigation into potentially fraudulent activity and expedites restitution. Most importantly, our bank reconciliation services depict a clear picture of your business’ cash position at any given point of time. When it comes to easy cash flow management, GoJo Accountants has you covered.
Financial Statement Preparation
Having an organized set of financial statements is critical when growing your business. Whether using financial statements to meet compliance requirements, or to analyze your business’ financial performance, maintaining a set of accurate financial statements can be quite useful. GoJo Accountants can prepare a set of financial statements to help you evaluate the financial performance and position of your business. This package includes:
A Balance Sheet (Statement of Financial Position) that gives you a snapshot of your overall financial position at month, quarter, and/or year end.
An Income Statement (Profit and Loss Statement) that summarizes revenues, expenses, and net income so you can evaluate the performance of your business.
A Cash Flow Statement that shows how changes in your Balance Sheet and Income Statement affect your available cash.
Estimated tax liabilities based on prior period income tax payments.
Independent QuickBooks Training
QuickBooks is an excellent software package that centralizes accounting processes for small businesses. Even though QuickBooks is the best consolidated accounting software in the business, there is a learning curve involved before mastering the application. If you are looking to begin learning QuickBooks, or expand your QuickBooks knowledge, GoJo Accountants are here to provide customized training sessions based on your needs. By learning to optimize QuickBooks, you can streamline your operations, organize your financial records, and seamlessly prepare for tax season.
Business & Financial Consulting
Is your small business relying on outdated operating systems or sustaining lower than expected operating margins? GoJo Accountants can work with your small business to streamline your workflow processes, in addition to identifying tactics to increase profitability.