When you need local accounting, we can help steer your business by providing the guidance you need to make good business decisions. A business without solid accounting is like a ship without a rudder; it can easily run aground if there is no way to keep it headed in the right direction.

At Allied Accounting & Tax Service Inc., our accountants know how to navigate the seas of finance and can help steer your business with good management practices, honest record keeping, and enhanced profitability.

Accounting Financial Statements

Our Accounting Department can prepare Financial Statements from your better built accounting system, whether currently in use or in the setup stages with us. Business financial Statements (Profit and Loss and Balance Sheets) will show you how to recognize:

  • Cash flow leaks and plug them.
  • Create income targets and financial goals.
  • Learn methods to monitor employee honesty.
  • Ensure accurate pricing through cost of sales scrutiny.
  • Increase profits through effective inventory control.
  • Receive guidance on buying or selling a business.

We understand the special needs inherent in a Business Startup. we will help you choose what entity fits you and your prospective business model, and show you how to navigate government regulations and make wise choices to create a lasting future. We’ll even help you choose a business name and avoid a multitude of common mistakes.

State Compliance is a subject we take just as seriously as the Federal Code. Our accounting services also handle Asset and Inventory protection, so keep your business moving forward by contacting Allied Accounting & Tax Service Inc.

What Does Accounting Accomplish?

Accounting is the process of identifying, measuring and communicating information. As well as a tool for recording, reporting and evaluating, in monetary terms, the transactions, events and situations that affect an enterprise.

Accounting function consists of the following business activities:

  1. Collection and recording of data.
  2. Classification of data.
  3. Asset management.
  4. Depreciation tracking.
  5. Processing of data entries by the Bookkeeper’s work.
  6. Maintenance or storage of results.
  7. Reporting of results, such as Net worth.

What is an Accountant?

Did you know that an accountant is responsible for the systematic recording, reporting, and analysis of financial transactions of a business? The person in charge of accounting is known as an accountant, and this individual is typically required to follow a set of rules and regulations, such as the Generally Accepted Accounting Principles. An Accountant is a person well versed in the arts of bookkeeping and payroll and accounting allows a company to analyze the financial performance of the business, and look at statistics such as net profit.

Certified Public Accountant is the statutory title of qualified accountants in the United States who have passed the Uniform Certified Public Accountant Examination and have met additional state education and experience requirements for membership in their respective State as a CPA. A licensed CPA is able to provide to the public attestation (including auditing) opinions on financial statements.

An Enrolled Agent is a person who has earned the privilege of representing taxpayers before the Internal Revenue Service by either: passing a three part comprehensive IRS test covering individual and business tax returns, or through experience as a former IRS employee. Enrolled agent status is the highest credential the IRS awards. Individuals who obtain this elite status must adhere to ethical standards and complete 72 hours of continuing education courses every three years.

Enrolled agents, like attorneys and certified public accountants (CPAs), have unlimited practice rights. This means they are unrestricted as to which taxpayers they can represent, what types of tax matters they can handle, and which IRS offices they can represent clients before.

Contact Allied Accounting & Tax Service Inc., we’re your first choice for accounting.