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Income Tax
No matter how intricate your tax situation may be, our dedicated team of CPAs and Enrolled Agents is here to guide you every step of the way. With years of expertise, we specialize in uncovering every possible deduction to maximize your savings while ensuring you have complete peace of mind. Unlike many firms that prioritize high fees over client needs, our approach is different. We’re committed to offering personalized, one-on-one service tailored specifically to your unique situation. Our goal is simple: to provide exceptional service that not only meets your expectations but exceeds them, ensuring your complete satisfaction without the burden of unnecessary costs. When you choose us, you’re not just hiring a tax professional—you’re gaining a trusted partner who genuinely cares about your financial well-being.
We offer the following services at a reasonable price:
Personal Income Tax
Business Tax Returns (1120, 1120S, 1065)
Income Tax Return for Estates and Trusts (1041)
Tax Returns for Charities and Non-Profits (990)
IRS Audit Representation
Payroll
Managing payroll for a small start-up can be overwhelming, costly, and time-consuming. Tax Cliniq offers a cost-effective solution as your full-service payroll partner. We provide comprehensive payroll services tailored to small businesses, including:
Payroll management for up to 50 employees
Options to run payroll weekly, bi-weekly, semi-monthly, or monthly
Payroll tax calculation
Transmission of payroll tax deposits to the appropriate authorities
Direct deposit or paper checks for employees
Quarterly and annual payroll tax filings
Preparation of W-2s for employee
Sales Tax
Sales tax is an indirect tax applied to certain tangible personal property and services. This tax is collected from customers at the point of sale, and it is the responsibility of the seller or retailer to remit the collected amount to the appropriate state authorities by the designated deadline. State laws govern which products, services, and transactions are subject to sales tax, and these regulations can vary significantly from one state to another. Without adequate knowledge and experience, it’s easy for retailers to confuse taxable and non-taxable sales, which can lead to significant errors in tax reporting.
State authorities prioritize the accurate collection and remittance of sales tax, as it constitutes a vital source of public revenue. Failing to properly remit sales tax is deemed tax evasion, a serious offense that can result in substantial penalties, including significant fines or imprisonment. It is essential for businesses to understand and adhere to sales tax regulations to avoid these severe repercussions. Unfortunately, some retailers mistakenly consider collected sales tax as part of their income, overlooking the fact that these funds are actually owed to the state. Such misunderstandings can lead to serious legal consequences.
Accounting/Bookkeeping
Midsize and large companies often have established systems that make record-keeping manageable, but for small businesses, bookkeeping can be a daunting task. Many small business owners underestimate the importance of maintaining accurate financial records, viewing it as too costly, time-consuming, or complicated. However, neglecting this crucial aspect of your business can lead to significant challenges down the road.
That’s where our company comes in. We specialize in helping small business owners streamline their bookkeeping processes, saving you time, reducing costs, and eliminating complexity. Our experienced team is dedicated to handling all aspects of your bookkeeping and accounting needs, so you can focus on growing your business.
Properly maintaining your financial records isn’t just about keeping your books in order; it offers critical advantages that can make or break your business:
- Monitoring Company Progress: As a business owner, having a clear understanding of your company’s financial health is essential. Are you making a profit or running at a loss? How is your cash flow? Without accurate bookkeeping, you’re operating in the dark, making it nearly impossible to gauge the true financial status of your business.
- Tax Return Preparation: Every business, regardless of size, is required to file tax returns. Accurate books simplify the tracking of revenue, expenses, payables, receivables, and assets. When your financial records are in order, preparing estimated taxes, filing income tax returns, and navigating IRS audits becomes far less complicated and much less stressful.
- Business Funding and Loans: When seeking business funding or loans, accurate financial statements are a must. Lenders evaluate the risk of your business based on these statements and your tax records. Reliable financial statements, produced through proper bookkeeping, are essential for securing the funding your business needs to grow.
By maintaining accurate financial records, you’re not just keeping your business organized—you’re setting it up for long-term success. This allows you to make informed decisions, simplifies your tax processes, and enhances your ability to secure funding when needed. Let us help you take control of your business’s financial future.
Tax Planning
Over the years, we've consistently seen that many small businesses unknowingly pay more in taxes than they should, simply because they lack effective tax planning. Without a well-thought-out strategy, businesses often miss out on significant opportunities to save money—funds that could be reinvested into growth, innovation, or other critical areas.
To help you avoid these pitfalls, our team of seasoned tax experts is at your service year-round, not just during tax season. We understand that tax planning isn’t a one-size-fits-all approach; it requires a deep understanding of your business, your industry, and your unique financial situation. That’s why we take the time to work closely with you, developing customized strategies that are tailored to your specific needs.
Our comprehensive tax planning services are designed to do more than just reduce your tax liability. We focus on optimizing your overall financial outcomes, ensuring that you’re making the most of every opportunity to save. Whether it’s through identifying eligible deductions, taking advantage of tax credits, or implementing long-term strategies to defer taxes, our goal is to keep more of your hard-earned money in your business.
By partnering with us, you’re not just preparing for the next tax season—you’re setting the foundation for financial success in the years to come. We’ll make sure you’re well-equipped to navigate the complexities of the tax landscape, allowing you to focus on what you do best: running and growing your business. With our expertise, you can rest assured that your tax planning is in the best possible hands, and that your business is positioned for long-term financial success.
New Business Set Up
Different business structures come with distinct tax implications. For example, a C Corporation is subject to double taxation, where both the company’s profits and the shareholders' dividends are taxed. In contrast, an S Corporation offers a tax advantage as a pass-through entity, where income is taxed only at the shareholder level. Similarly, an LLC combines the benefits of pass-through taxation with the limited liability protections of a corporation. To help you choose the business structure that best suits your needs, we offer a complimentary consultation before you establish your company.
QuickBooks Set Up
