Services

What we do

Accounting Services

Outsourced Accounting

As a small business owner you have more important things to do than to keep your own books. We take care of your books for you, so you can get back to the job of running your business and generating profits!

Each month or quarter we’ll do the following things for you…

  • Reconcile your bank account
  • Generate an income statement 
  • Generate a balance sheet
  • Clean up your general ledger
  • Provide consultations

These tasks form the solid foundation of your small business accounting system. You can customize the package of services you receive by adding payroll, tax planning, tax preparation, or any of our other services.

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Tax Services

Individual Tax Services

After years of serving clients in some of the largest metropolitan areas, our practice has obtained the expertise to navigate your specific regulatory environment and achieve desired outcomes on your return with solid professional integrity.

Some common areas that we handle on a daily basis:

    • Self-employment/contractor/freelancer income
    • Rental property
    • Sale of Home
    • Equity Compensation. For example, RSU, ESPP, ISO, NSO, etc.
    • Multi-state allocation
    • Crypto currency
    • Foreign Income Exclusion & Foreign Tax Credit

Our individual tax services provide fast and accurate results. 

For individuals with Equity Compensation, we can discuss when and how to exercise or sell your stocks/options to optimize your net after tax income based on your vesting schedule.

For individuals with a business, we can discuss quarterly taxes as well as methods to structure your company, such as possible s-corp conversion or other types of credits & deductions.

Corporate & Partnership Tax Services

There are three main types of business entities that require federal tax filings. Partnerships, C-Corps, and S-Corps. Below is a discussion of each, as well as a brief comment on LLCs:

Partnerships

If you have more than one member in your business but have not otherwise incorporated as an S-Corp or C-Corp, you should likely be filing this return. It is reported on Federal Form 1065 and (if applicable) certain state schedules. We support all 50 states. This default classification arises if you apply for an EIN number for a business entity that has more than one owner. This default classification also arises if you have registered an LLC with your state and that LLC has more than one owner, equity partner, or member.

S-Corp

An S-Corp is a small business corporation structure allowed by the IRS. It is reported on Federal Form 1120-S and (if applicable) certain state schedules. We support all 50 states. This is not a default classification – rather, you must apply for it and be approved by the IRS. The appeal of this classification is that it allows for decreased self-employment taxes on your individual return. These tax savings may be substantial, depending on the annual net income of your business. Please contact us for more details or to file your annual return.

C-Corps

A C-Corp is a taxable entity that pays taxes in its own right. It is reported on Federal Form 1120 and (if applicable) certain state schedules. We support all 50 states. This structure is the default classification you must file with the IRS after you file as a corporation with your state or after registering your EIN as a corporation with the IRS. The C-Corp structure allows many shareholders and is the common classification for many Delaware startups and larger businesses.

A Comment on LLCs

An LLC often has state filing requirements. We support all 50 states. However, for federal purposes, you would be filing your LLC taxes on one of two forms: From 1040 Schedule C or Form 1065. If you are the only owner, partner, or member of your LLC, then you would report on Federal Form 1040 Schedule C. If you have more than one owner, partner, or member of the business, then you would report on Form 1065, unless you have specifically incorporated as an S-Corp or other type of entity.

Please contact us anytime regarding any of these entity types as we have helped hundreds of businesses of various size over the years.

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Payroll Services

Mergers & Acquisitions

Here are the payroll services that we offer:

  • Checks or Direct Deposit for Your Employees
  • Federal Tax Liabilities
  • State & Local Tax Liabilities
  • Unemployment Tax Liabilities
  • Quarterly Tax Forms
  • Year-End Tax Forms
  • Customized Payroll Reports
  • Tax Deposit Services
  • W-2s and 1099s 

Using a payroll service might not seem necessary for managing your payroll, until there is a problem. Correcting issues with payroll can be time-consuming and also requires a thorough understanding of the tax laws and deposit rules.

Using a professional service like Ask Bea Inc. can take the headaches out of doing your payroll. We’ll also monitor all applicable federal, state and local laws that may affect your tax filings. Our accountants stay on top of these updates so that you will never have to worry about being left behind.

Security and Compliance

When you work with us, you will also have the assurance of knowing that your data is secure. We adhere to the data security regulations as required by federal compliance agencies. These regulations ensure that your data is securely maintained and transmitted to the appropriate tax agencies.

Whether you are just starting your business or you would like to switch to a better system for payroll processing, we can provide the business services that you require. We can help simplify the payroll process to help you more effectively manage your small business. Let us assist you with your payroll needs so that you can focus on running your business.

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If you would like more information, please contact us for a free quote.

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