What Services Does Fish, Streyffeler, & Ulmer, Ltd. Provide?
We provide several different options to provide you with a financial statement which we can help you understand. Many clients receive a profit/loss statement from their accountant, but do not receive assistance in interpreting the financial statement or grasping its significance. We take the time to explain what your financial statement means and how that affects you in relation to taxation.
Most of our input is derived from utilizing check stubs or check registers, bank statements, sales reports, & payroll reports provided to us by our clients. If you choose to input your accounting information using software such as Quickbooks, we can take a backup copy of your file and pull all necessary reports to compile a monthly, quarterly, or yearly financial statement.
We can help prepare sales tax returns, quarterly payroll reports such as form 941, 940, WH-1605 & WH-1606, SC Unemployment, year-end Forms W3, W2, 1096, 1098, and 1099. Payroll preparation is available on a weekly, semi-weekly, or monthly basis. We can also transmit your payroll tax liabilities on a scheduled basis at your request.
Personal Tax Preparation
Don’t waste time spending hours or even days trying to figure out this supposed “free” tax software. As Enrolled Agents, we are required to complete 40 hours of training each year; These courses provide us with the knowledge needed to best navigate latest tax law changes and to help our clients prepare for the upcoming tax year. We prepare tax returns ranging from the basic Form 1040EZ to the Form 1040 including schedules like:
- Schedule A (itemizing deductions like mortgage interest, real estate taxes, charitable contributions)
- Schedule B (interest & dividend income)
- Schedule C (sole proprietorship income)
- Schedule D (capital gains & losses – sale of stock or property)
- Schedule E (rental & royalty income)
- Schedule F (farm income)
With the tax preparation, you also get tax advice that most preparers cannot or choose not to give to their clients. What kind of IRA should you contribute to? What are the tax implications of selling property that was inherited? Should you incorporate your small business?
Those are just a few questions that our tax preparers can help answer for you. Our office is open year-round. We do not shut down after April 15th and only open one day a week like many franchised owned tax preparation offices.
Corporate Tax Preparation
Some clients need to take the next step when their business continues to grow and become more profitable. More profitability means more taxes. We specialize in small business tax preparation, including Form 1120 for “C” corporations, Form 1120S for “S” Corporations (most common), and Form 1065 for Partnership tax returns. We can explain how converting your Schedule C business to an S-corporation can save you thousands in taxes. And, we can show you how to take advantage of the tax benefits by being a small business corporation.
Our pricing structure is considerably less, sometimes more than half of what most CPA firms charge. And with the preparation of your tax returns comes valuable consultation to maximize your income tax savings. Again, we are available throughout the year, not just during tax season.
Nothing scares a client more than receiving a letter from the IRS. However, many of these letters are easily fixed. Whether you have a simple problem or a complicated issue, we have staff that are certified as Enrolled Agents with the IRS. What this means is we can speak on your behalf in front of the IRS. By filling out form 2848 (Power of Attorney), we can represent you and answer any questions the IRS may have that you wouldn’t know the answers to. It takes away the pressure of having to deal with the IRS.
Owe back income taxes? Behind on your company payroll taxes? Late on sales taxes? Received an intent to levy notice? These are the problems our company can handle for you. Don’t let other companies charge you thousands of dollars in retainer fees to “hopefully” get you qualified for an offer in compromise. An offer in compromise allows you to possibly pay a flat amount of money for taxes owed to the IRS. This can be considerably less than the total amount owed. Sometimes, all it takes is a quick review of your personal income and equity to determine if you may or may not qualify for an offer in compromise. Potentially save thousands of dollars by doing an initial consultation to see if you may be a candidate.