Commercial Enterprises Accounting Services
At Douglas R. Leatham, Certified Public Accountant our personalized attention will ensure proper accounting practices for your particular business, regardless of what industry you are in or what size your business is.
Douglas R. Leatham, Certified Public Accountant can help your business stay on track with financial development, handle your tax and financial statements, streamline your business accounting and identify potential financial risks. We can assist your business with more efficient business procedures such as standardizing your payroll, organizing your budget and providing advise with major purchases.
We are dedicated to our business clients’ success.
- Income tax return preparation and tax planning
- Business consulting
- Audits, reviews and compilations of financial statements
- Bookkeeping services
- QuickBooks set up, support and training
- Payroll tax returns and other filings
- Income tax return preparation and tax planning:
We can assist the following types of entities in their tax planning and preparation of income tax returns:
- LLC (Limited Liability Companies)
- Partnerships, and
- Sole Proprietors – including fishermen, farmers and other businesses.
Good tax planning is the key to reducing your tax liabilities. We can help you make the right business decisions – decisions which benefit you tax-wise, as well as helping you to achieve other financial and non-financial goals at the same time. To minimize your tax liability, you should consider the proper entity type (S-corporation, C-corporation or other), the most suitable accounting method (accrual or cash-basis), or whether to expense or depreciate the cost of new capital assets.
Every decision a business owner makes has tax consequences. We can guide you through the complex and ever-changing tax laws to the right result for you. We make it a priority to stay up-to-date with ever-changing tax laws through frequent tax training. Our goal is to be proactive, always looking for the best tax strategies for our clients.
- Business consulting:
We offer guidance with your business concerns in such matters as: new business acquisitions, sales of businesses, obtaining financing, new accounting software, and the like. If we cannot handle your particular need, we have a network of business professionals (attorneys, pension plan consultants, etc.) to help you meet your business needs.
- Audits, reviews and compilations of financial statements:
We have over 25 years’ experience in performing audits, reviews and compilations of financial statements. When a bank or other creditor asks for financial statements prepared in accordance with Generally Accepted Accounting Principles, we are ready to help. Our role is to add credibility to your financial information, with various levels of assurance or attest service (audit, review or compilation), depending on your needs.Our goal is to be efficient and effective in our work and provide as little distraction as possible to your day-to-day operations while performing our procedures. We provide high quality attest services. Our performance is quality-controlled on regular basis by the independent peer reviewers whose reports on us are available to the public.
- Audits provide the highest level of assurance for your financial statements and involve extensive testing of your records, inquiries and analytical procedures.
- Reviews provide limited assurance that your financial statements are free of material misstatements and thus involve less testing procedures than audits.
- Compilations do not provide any assurance on the financial statements, but result in your issuing financial statements that are appropriate in form and free from misstatements.
To document the results of attest services, we issue the appropriate report (i.e., audit, review or and compilation report) which you can provide to interested third parties, such as lenders, general creditors, investors or others.
- Agreed-upon-procedures:Alternatively, you can engage us to perform limited or specific tests or procedures when you have concerns about specific financial, or operational aspects of your business. We can help you evaluate the effectiveness of your internal control systems, you payroll practices, perform account reconciliations, or consider other issues that you might want addressed. Agreed-upon-procedures help you identify and correct certain accounting or business problems at an affordable price. We issue a report on our findings and may make recommendations for necessary corrective actions.
- Bookkeeping services:
We provide bookkeeping services for small businesses that find it unfeasible to have an in-house accountant. We can periodically generate financial statements showing the year-to-date results of your business operations and your business assets and liabilities, based on the financial records you provide to us. That includes posting all your transactions to QuickBooks accounting software, reconciling your bank accounts and making all necessary adjusting journal entries.Meaningful financial statements inform interested parties, including business management and owners, about the success of a business. They provide useful financial information, which can leads to better informed business and tax decisions.
- QuickBooks set up, support and training:
QuickBooks is an affordable and relatively easy to use accounting software. We can help you use your QuickBook software more efficiently. Call us any time you need to set up a new company or have questions about how to use QuickBooks – such as how to make adjusting entries, generating reports, etc.
- Payroll tax returns and other filings:
We can refer you to excellent third-party payroll services, or alternatively you can prepare your payroll checks and we can help you prepare and file the following:
- State and federal payroll tax returns – quarterly
- Forms W-2’s, 1099’s, etc. – annually
- Sales and meals tax returns – monthly
- Worker compensation audits – annually
- Local personal property valuations