Our services

Acumen Accounting & Tax Services, Inc.

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Gain Financial Peace of Mind

We make you and your financial success our priority. Instead of struggling with the intricacies of accounting and taxes, you can rest assured that you and your business are in good hands with experts you can trust.

Tax Preparation

We place our clients first. We’re available year round for consults and tax preparation.

Individual Income Taxes

This is our most widely used service. Together we have 35 years of tax preparation experience and we focus on building long term relationships with our valuable clients. The most fun moments are when an existing client refers us their parents [whose CPA has retired] or their children who just entered the workforce.

We handle most of the complex issues including but not limited to:

  • Real estate rental and sale
  • Foreign Bank Account reporting under the FINCEN Form 114a and Form 8938
  • K-1 reporting from companies or partnerships
  • Self employment taxes and payments
  • Health insurance reporting under the Affordable Care Act

Some of the newer issues that we’ve only seen and dealt with in the past couple of years are:

  • Correctly accounting for AirBNB income & expenses, and UBER income and expenses
  • GoFundMe transactions
  • Kickstarter transactions

We have not dealt with Bitcoin and other alternative currencies, but welcome the opportunity to do so.

Corporate, LLC and Partnership Income Taxes

Deepa’s specialty is selection of the correct entity from a purely tax perspective [you also want to consult an attorney for the legal aspects] and then the tax planning and preparation of:

  • Form 1120 for C Corporations
  • Form 1120S for S Corporations
  • Form 1065 for Partnerships
  • Tax Preparation for LLC returns and whichever of the above are chosen for the LLC

Corporate tax returns require complete financial statements. Deepa is a certified QuickBooks ProAdvisor and also assists with getting your QuickBooks [or other accounting software] file cleaned up and ready for the tax return.

Fiduciary Income Taxes

Fiduciary tax returns, also knows as estate and trust tax returns are Tom’s specialty. There are many moving parts to these returns, since most of them are dictated by the date of death of the taxpayer.

Some of the issues we have seen are:

  • The beneficiaries are out of the country
  • The beneficiaries are out of state
  • Executor of the estate gets poor advice which causes them to pay the highest tax rate
  • Not filing estate or gift tax returns when it would have been beneficial to do so

It is wise to consult both an estate attorney and an estate and trust accountant jointly to get the best possible advice.

Accounting, Payroll and Sales Tax Services

With our team, finances don’t have to be a frustration.

We provide bookkeeping and accounting services along with complete payroll services and sales tax filings. We provide these services on a monthly or quarterly basis based on the client’s need and volume of transactions.

The accounting department in the office headed up by Jackie.

Our preferred accounting platform is QuickBooks because it’s the most COMPLETE. QuickBooks will help you get your books in order, get your sales taxes filed AND it will help you run a full payroll from recording hours to generation of the W-2 at year end.

We will work with you on other platforms like Xero or Freshbooks and others if you need. However, they are not our preferred platforms and there are deficiencies that we will need to address separately.

We also provide dedicated part time CFO services, where we help larger businesses with the entire lifecycle of their accounting. We prepare checks, pay bills [where possible], handle the entire bookkeeping, accounting, do tax planning and finally prepare the corporate return and owners personal tax returns.

IRS Representation

You aren’t alone. We can help.

IRS Notices can feel scary and threatening.

Our job is to get you out of the fear and figure out the solution to your problem. Sometimes the solutions are quick and easy, sometimes they take weeks or months to solve. However, we work for you and we will work as quickly as we can to get the best result for you.

mission

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