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TAX MANAGEMENT
At James L. Knott CPA, we guide our clients through a full range of tax planning and preparation decisions with strategies that minimize your tax liabilities, maximize your cash flow and keep you on track to your financial goals. Our expertise, experience, analysis and thorough research allow us to optimize financial opportunities to be found in existing as well as recently altered tax laws. We are knowledgeable and up to date on the tax laws and can make sense of your receipts, bills, and notices.
ACCOUNTING
From start-ups to established enterprises, businesses rely on accurate and insightful financial information in order to maintain profitability and capitalize on new opportunities. James L. Knott CPA's accounting services steer you closer to these goals with accurate record-keeping and reporting as well as support on financial issues such as initial accounting system setup, cost-containment, tax planning, investments, and employee benefit and profit-sharing plans.
These services include but are not limited to:
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General ledger and financial statement preparation
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Bookkeeping (Monthly, quarterly, or annual)
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Accounting system setup and support
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Payroll processing
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Cash flow budgeting and forecasting
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Personal financial statements
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Employee benefit and profit-sharing plans
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Corporate tax planning and return preparation
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ESTATE AND TRUST PLANNING AND TAX PREPARATION
Effective estate and trust planning can ensure financial security for loved ones. For businesses, it can maintain a smooth succession of ownership. James L. Knott CPA's role is to help you navigate the complex and shifting tax laws to facilitate the transfer of assets and minimize the tax liability of your beneficiaries. Everyone should have a well-thought-out plan as to how to disburse one's estate so as to avoid complications and to be sure wishes are followed. Having your taxes and estate thoroughly and carefully planned will ensure that your loved ones don't have any complications to deal with during a time of loss.
BOOKKEEPING/ WRITE-UP
Accurate record-keeping is essential to a successful business yet can also be complicated and time-consuming. James L. Knott CPA can help you with the organization and day-to-day tasks of bookkeeping so that you can focus on your core business.
ENTITY SELECTION AND RESTRUCTURING
Your business entity has a large impact on your taxes and other liabilities. From your company's inception through its growth and development, James L. Knott CPA can advise you on choosing an entity type and later restructuring if advantageous. With our knowledge and expertise, you will always be receiving the most advantageous entity type for the functions your business performs.
PAYROLL SERVICES
James L. Knott CPA's payroll services can help you reduce the time spent on administration through developing and implementing a computerized payroll system that will facilitate processing, timely payment, and preparation of tax returns.
CASH FLOW AND BUDGETING ANALYSIS
Good cash management can improve a company's liquidity, reduce costs, and increase profitability. James L. Knott CPA can help you maintain optimal cash flow levels by tracking sources and uses, forecasting, and budgeting accordingly. To a business entity, cash flow is something that can make or break the business's ability to survive. We can help you analyze your spending, and re-balance your budget and/or debts for an optimal cash flow to support your business' success. This balance plan would be revisited if and when there were any major changes in your business structure to ensure that you are operating at an optimal level. With our help and guidance, you will always be on top of your finances and ready for the future.
FINANCIAL PROJECTIONS AND FORECASTS
No one can predict the future perfectly, but we can all benefit from planning for it. James L. Knott CPA combines expertise and experience with a gained understanding of your business to produce financial projections that can help you manage your business plan and spending. Forecasting for the future is imperative to your company's success. We make it a point to keep current with market trends and updates so that your business can be prepared for what is to come.
DEBT AND FINANCE ADVISING
Whether your needs are corporate or personal, James L. Knott CPA's professionals can assist you in sorting out the different options available for debt management and financing that will lower your payments and/or reduce the total amount of interest paid. Re-balancing your debts can also result in tax deduction savings. Even if you are able to handle the payments and the amounts of your current debts, our expertise may be able to save you money and/or lower your payments.
BASE LEVEL ADVISORY CLASSES
1040 W/SCH C/E/F
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BUSINESS CLIENTS
We now offer classes for business owners to help them understand how their business works. We have two packages we offer that include some of these classes;
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Entity Structure Planning
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Cash Flow Planning
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Business Operation & Documentation
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Independent Contactor-Employee Analysis
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Company Fringe Benefits
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Corporation -LLC Income Strategies
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Cash flow planning using your Corporation-LLC
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Education Savings and Income Shifting
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Equity Planning
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Estate Planning
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Rental Property Operations
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Bring your notebook and pencil and all the questions you can think of to these classes.