Tax services to meet your every need.
Holmes & Associates, CPAs is a full-service CPA firm that specializes in small business accounting services. To grow in today’s complex tax environment can prove challenging. Our tax services provide clients with expert guidance through the tangle of changing tax laws and pitfalls. There is virtually no financial issue we can’t tackle.
These are some of the Tax Services we are expert in:
We have been successfully negotiating with the IRS for over 35 years. Our CPAs have a success rate that most tax offices envy; especially when it comes tough issues and less than perfect tax records. Through years of experience working before the IRS, we know how to represent taxpayers. It is a matter of negotiating settlements with the IRS, knowing the details of the law and positioning the law to work in your favor with the IRS. We know how to get the IRS to trust us and our understanding of the law. It is very technical but it can also be as simple as knowing how negotiate in a credible manner using the tax law.
Real Estate Accounting
We know how to maintain books and records for most types of real estate (such as apartment rentals and commercial real estate) so that tax compliance is a breeze. Real Estate Accounting can be streamlined so that is not complex and yet arrives at the lowest possible tax. Real Estate Accounting is for individuals that own real estate as well as LLC, partnerships and real estate professionals. We understand Section 1031 exchanges and how to account for them.
Small Business Accounting & Bookkeeping
We do everything from entering all of the transactions into the accounting system, to checking over the bookkeeping that the client has done. It is a spectrum of services tailored to fit exactly what the small business needs. We do the accounting and bookkeeping accurately and efficiently. We make the adjustments need to the accounting and bookkeeping to facilitate the tax-preparation process.
Trust income tax returns. Many people have trusts tax returns to file either because they have created them or they are a beneficiary of them. Either way, we prepare many trust tax returns and 1041s for our clients.
Should you be an S Corp or LLC? We get that question all the time. Many times people don’t even consider a C Corp. Which is best? It depends of course on the goals of the business owner. We start with goals and then we analyze the various types of business entities to see which fits the goals of the business owner. It can be very complex, but usually boils down to a few key items. After years of experience with all types of business entities we are uniquely qualified to analyze which is best for the owner’s goals.
How many entities should the business have? Should there be tiered or levels of entities? Special purposes entities? Brother sister entities? Different year ends? Different accounting methods? Maybe a mixture of different types of entities works best? Maybe it is best to have a single entity?
There is no clear-cut answer. Business Structure is best handled on a case by case basis. After a thorough analysis of your financials, we will guide you through a simple and tailored process resulting in the perfect business structure. We offer the best tax and business advise in this area to help you reach your goals.
LLC vs S Corps
We get this one all the time. Probably most CPAs get asked this question, LLC vs S Corp. We find that attorneys frequently have a viewpoint that is purely legal in nature without fully understanding the income tax consequences. So we help you make the best possible choice from a tax viewpoint.
Corporation vs LLC
LLCs are very popular today. There are lots of good reasons for that in the tax law. However, we also find that people do not consider the benefits of C Corporations (probably because they are not as popular today). However, there can be significant advantages to C Corporations and they need to be understood to make an intelligent decision. We know the ins and outs of both C Corporations and LLCs in tax law and can provide you with thoughtful intelligent advise. You will know that you are choosing the right one for you and that you have not overlooked something.
Learn more about Holmes & Associates, CPAs:
Holmes & Associates, CPAs has been in business for over 40 years and boast an elite team of tax professionals. Click HERE to learn about Long Beach’s Best CPA firm.
Free Tax Analysis and Consultation
Holmes & Associates, CPAs offers a Free Tax Return Analysis. This is a fast, but thorough process where we go through the financial health of your small business and financials. Our CPAs look at your books, tax write offs, tax deductions, financial statements and in less than hour we will have a full report on how you can increase your bottom line and save money.
This is a totally FREE service. You have nothing to lose and everything to gain by letting our CPA firm analyze your small business.
Call us now at (562) 495-3331 or fill out the contact form below and we will get back to you within one business day.