Accounting and Tax Services for Small Businesses in Lehigh Acres
Every first day of the year we promise ourselves to do things better. As you run a business, you might resolve to stay on top of your records with small business accounting so you don’t panic at tax time. But, despite your best intentions, tax season looms and your records are a total mess? You frantically search for a professional tax accountant near me in Lehigh Acres only to be bombarded with options that add to the mess. Complete CPA is one of the best public accounting firms in Lehigh Acres FL, offering a comprehensive range of accounting, bookkeeping, tax preparation and financial planning, payroll tax management, Quickbooks setup and support, and business financial consultation for small businesses and mid-sized companies.
Tackle tax seasons like a boss with our accounting and CPA firm
At Complete Small Business Solutions, we ensure you manage your finances and streamline your bookkeeping, payroll processing, and taxes, so you spend less time on paperwork and more time running your business. Year-end could actually be the best time to take control of your business and influence its growth if you just take it to step by step.
Even before you type tax preparer near me in Lehigh Acres and leave it on them, you need to do is get your bookkeeping in order. Gather up your receipts and bills from purchases made during the tax year 2023. This also includes your customer invoices and bank account statements. Normally, the tax filing season is always upon us – Are you ready for tax day?
- Update your expense records and record all your spending in your accounting system. Pay off any outstanding bills and make notes of used (phone, gas, and electricity bills) and unused (insurance, rent, or any equipment) expenses.
- Update your income records with sales deposits and receipts fed into the accounting system. Check for any billable sales or services and send those invoices out if not done yet.
- Run small business payroll by reminding employees to submit any outstanding expense reimbursements. Make sure this final payroll is reflected in your books with any necessary journal entries made for adjustments after receiving your final payroll reports.
- Reconcile your bank and credit card accounts while properly categorizing and verifying all your income and expenses and that any sales taxes are accounted for within each transaction.
Move on to tackle year-end period adjustments that journal entries made to your business accounts at the end of a period (fiscal year) so your financial statements reflect your business performance accurately. The four crucial adjustments to be considered involves inventory adjustment, bad debt adjustments, depreciation adjustments, and reconciling loan accounts.
The two standard ways to do your accounting are accrual-based and cash-based. In accrual-based accounting, you recognize income and expenses when they are earned or incurred, as opposed to cash-based accounting that recognizes them once they’re paid or received.
Once you are done with bookkeeping with the necessary adjustments, converted your income and expenses from accrual to cash basis (if necessary), you’re ready to pass your books along for business tax and preparation work.
With this, you are in a great position to review business performance and make strategic decisions for business growth.
We at Complete Small Business Solutions, specialize in all areas of tax: tax preparation, planning, business consulting, bookkeeping, accounting and are working for a wide range of industries, including dental, construction, automotive, medical and healthcare, retail, manufacturing, travel and tourism, fitness, and nonprofit organizations, as well as for all type of small businesses and high net worth individuals. Curious to know more about our accounting and CPA services, how the team at Complete CPA can assist scale your business and manage your tax liability in Lehigh Acres, Florida? Give us a call now or book an online consultation today with one of our certified public accountants.