If the IRS comes knocking on your door with questions about your tax return, don't worry. We'll go to bat for you. We're up to date on all current tax laws and we know how your tax return was prepared. We can provide complete representation services before the IRS as well as state and local taxing authorities. We are also experienced in negotiating Offers in Compromise with the IRS.
Individual annual tax filings and periodic EFTP arrangements. 1040EZ, 1040A and 1040 filings for single, head of household and/or married tax payers
Ensuring optimum use of your resources, scheduling shifts, production, flow of activities is critical in success factor of any business. Karki CPA LLC helps plan for your success by eliminating non-value added activities and identifying cost control measures.
• Outsourced CFO
• Outsourced Controller
• Start-up Consulting
• Business Plan Development
• QuickBooks Setup & Training
• Lease Versus Purchase Analysis
• Job Costing Analysis
• Debt Analysis
• Financial Budgeting
• Succession Planning
• Business Valuations
• Formation of Corporations, LLC’s and partnerships.
• Standard partnerships and LLC operating agreements
• Registered agent services
• Monthly, quarterly and annual employment tax deposits to IRS
• Monthly, quarterly and annual employment tax deposits to state workforce commissions
• Annual federal tax returns 1120, 1120S, and 1065
• Quarterly 941 filings, yearly 944 and 940 filings
• State sales & use tax return
• State mixed beverage tax return
• County/parish business personal property rendition
Planning and delivering success is the name of the game. Our experts will help you plan and implement for the long term, medium term and short term. Making purchasing decisions, the right time to invest in a new business asset, and how much extra expense can your business withstand are some of the critical questions we help answer. We can minimize cost overruns, lost purchase discounts and uncollectable receivables by analysing your cash flow and budgetary needs.
• Payroll Check Issuing (including Direct Deposit)
• Quarterly Payroll Tax Processing
• Year End W-2 & 1099 Processing
• Electronic Federal Tax Payments System (EFTPS)
• After-the-Fact Payroll Processing
• Quarterly state unemployment tax filings
• Cash Flow & Budgeting Analysis
• Bank reconciliations
• Sales/expense data input
• Accounts payable
• Customized bookkeeping solutions
• Data processing (check entry, sales invoice recording, accounts payable entry, etc.)
• Reconciliations (bank statements, credit cards, notes payable, etc.)
• Financial statements (preparation of balance sheet, profit & loss, & general ledger)
• Reviews (monthly & quarterly)
Financial statements are reports that show how income and expenses have affected the company as a whole. They provide a snapshot of the current financial standing of the business.
As your Dallas CPA firm, we recognize that your financial information needs to be delivered to you in an accurate and timely manner so that you can manage your business, and we are committed to helping you do just that.
Our firm can prepare a wide array of financial statements to your business, including:
• Balance Sheets
• Income Statements (also known as Profit & Loss Statements)
• Cash Flow Statements
• Statement of Retained Earnings
We perform account reviews of business’ financial statements and issue a report that provides limited assurance that material changes to the financial statements are not necessary. With respect to reliability and assurance, a review falls between a compilation, which provides no assurance, and the more extensive assurance of an audit.
Before a review, we may have to compile financial statements; however, in all cases, financial statements are of the business, not the CPA’s. The clients management must have a sufficient understanding of the financial statements to assume responsibility for them.
Karki CPA LLC will make inquiries concerning financial statement-related matters such as accounting principles and practices; recordkeeping practices, accounting policies, actions of the board of directors, and changes in business activities. Then we will apply analytical procedures designed to identify unusual items or trends in the financial statements that may need explanation. Essentially, a review is designed to see whether the financial statements "make sense" without applying audit-type tests.
Through compilation services, Karki CPA LLC prepares monthly, quarterly, or annual financial statements based on information we receive from our clients. Our firm becomes familiar with the accounting principles and practices common to the client’s industry, and acquires a general understanding of the client’s transactions and how they are recorded. After compiling the financial statements, we will read them and consider whether they are appropriate in form and free from obvious material errors. We then issue a standard report that says, in effect, that the financial statements were compiled, but because they were not audited or reviewed, no opinion is expressed.
A compilation is sufficient for many private companies. However, if a business needs to provide some degree of assurance that its financial statements are reliable, it may be necessary to have our firm perform an account review.