Facebook Instagram
English
Español
English
Español
Facebook Instagram

Services

© 2022 R&P Accounting & Taxes, Inc.

BUSINESS TAX PREPARATION

A Business Accountant To Maximize Your Return

As a business owner one of your top priorities would most likely be paying less taxes, and this notion can be best achieved through our services of business tax preparation and tax planning.

Running your own business can be difficult enough without having to devote endless nights and weekends to tax preparation and filing. With the ever-changing tax codes and the year-long task of corporate tax preparation it makes sense for business owners of all sizes to hire a professional accountant to handle their business tax preparation. There are a number of different kinds of business structures and issues that a must know very well to adequately prepare these business tax returns. R&P Accounting & Taxes, Inc, works with a wide array of businesses in Miami, and rest of South Florida, helping and offering them the best tax services and business tax preparation available. Our goal as your accountant is to minimize your liability and seek opportunities of growth that will help increase your company’s revenue.

We focus on tax returns for sole proprietors and small to medium sized business – call 305-358-1310 to learn more about our tax planning and business tax preparation services for your business.

Business Taxes

  • S- and C-Corporations, Limited Liability Companies (LLCs), Sole Proprietorships, and Partnerships
  • Income Tax Preparation and Filing
  • Federal Forms 1120-C or 1120-S or 1065
  • State Form 1120-F
  • Payroll Tax Preparation and Filing
  • Forms 941, 940, UCT6, and W2/W3
  • Payroll withholding adjustments
  • Payroll strategy for the future
  • Sales Tax Preparation and Filing
  • Form DR15-R
Call 305-358-1310 to schedule an appointment with our business accountant and prepare your business tax return.
Close

INDIVIDUAL TAX PREPARATION

Personal and Family Income Tax Return Services

Filing income taxes every year is something that every taxpayer must do and through our Individual Tax Preparation service, we focus on minimizing your tax liabilities while maximizing your income. Trying to file your own tax return can be a challenge and can also require a good amount of your time. While there is tax preparation software that can help make it easier for you to file they can not see the areas of opportunity to increase your return like an experienced can. More importantly these tax return software programs cannot detect an issue in your tax situation or liabilities. It is better to seek the service of an accountant who has a strong understanding of the tax rules that can apply to you as an Individual and be able to use them in the proper manner.

Call 305-358-1310 to review your tax return with us cares about your financial security – we have convenient offices in Miami.

Maximize Tax Deductions and Credits

  • Our accounting and tax preparation firm believes in the bigger picture, we know that there are a number of factors that can affect your life – good and bad. That is why we are available year round to advice on these life changes or any IRS problems that can arise.

    Don’t wait for an IRS letter to come in the mail for you to seek help on your taxes – contact us now for your individual tax preparation services, because we are passionate about sharing our expertise and providing you the resources to reduce your tax liability.

Personal and Family Income Taxes

  • Form 1040
  • Earn income and Education credits
  • Full-service exploration of tax deductions for this year and next
  • Tax Planning for this year and next
  •  
Call us at 305-358-1310 to schedule an appointment with us and have your individual tax return filed.
Close

S CORPORATION

Incorporating As An S Corp

S corporations are corporations that elect to pass corporate income, losses, deductions and credit through to their shareholders for federal tax purposes. Shareholders of S corporations report the flow-through of income and losses on their personal tax returns and are assessed tax at their individual income tax rates. This allows S corporations to avoid double taxation on the corporate income.

How To Qualify To Become An S Corporation?

To qualify for S corporation status, your business must meet certain standards and qualifications. R&P Accounting & Taxes, Inc, are happy to help you decide if this incorporation option is right for you. If you choose to be an S Corporation, you may need assistance filing the following forms:

  • IRS Audits or Examinations
  • Offer in Compromise (Fresh Start Program)
  • Form 2553 Election by a Small Business Corporation
  • Income Tax Forms (1120S or 1120S Schedule K-1)
  • Employment Tax Forms (941, 940, W2, W3, 1099/1096s, UCT6)
  • State of Florida Annuals Reports
  • Sales Tax Reports (if applicable)

Business – S Corporation Services

When considering to incorporate as an S Corp, there might be a number of questions that might cross your mind such as, “what should my salary as an S Corp owner be?” and “what type of S corp tax deductions should I be aware of and take advantage of?”. These questions and more can be answered by at R&P Accounting & Taxes, Inc.

We enjoy helping businesses start up and grow to their upmost potential, but every component takes proper planning and execution. If you are seriously considering forming an S Corporation – call us at 305-358-1310 to schedule your consultation and learn how we can best assist you; we have convenient offices in Miami.

Close

C CORPORATION

Incorporating As A C Corporation

If you are thinking about establishing a company that can have a limitless number of investors and stock types, the forming a C Corporation may be the right step for you. In forming a corporation, prospective shareholders exchange money, property, or both, for the corporation’s capital stock. For federal income tax purposes, a C corporation is recognized as a separate taxpaying entity. A corporation conducts business, realizes net income or loss, pays taxes and distributes profits to shareholders.

If you choose to be a C Corporation, you may need assistance filing the following forms:

  • Income Tax Forms (1120)
  • Estimated Tax Forms (1120W)
  • Employment Tax Forms (941, 943, W2, W3, 1099/1096s, UCT6)

By establishing a C Corporation you will be able to protect your personal assets from your business, and while there are many online companies that allow for you to incorporate by yourself we always advise to seek out professional help. R&P Accounting & Taxes, Inc, has convenient offices in Miami,  where we can provide business counsel to see if your style of business is best suited to incorporate as a C Corporation which can help avoid loss of money on filing fees and time.

Call our office at 305-358-1310 to schedule your consultation.

We always recommend our clients seek legal counsel with an attorney for any legal questions they may have regarding incorporation.

Close

LIMITED LIABILITY COMPANY

Is An LLC Better For You?

If you plan to run a business and are concerned about personal exposure to lawsuits or debts arising from your business, you may want to consider forming a Limited Liability Company (LLC). While Corporations also provide this sort of protection from personal liability, many small businesses prefer the relative simplicity of the LLC formation process. The major differentiating factor is taxation. Corporation taxation is very different from that of an LLC.

Benefits in Forming a Limited Liability Company
  • Protection of personal assets with liability protection
  • Eligibility to save money on taxes
  • Established company projects credibility with future customers
Form an LLC Today! Call Us For A Direct Quote.

An LLC is a combination between corporation investor asset protections and the simplicity of a partnership. Depending on elections made by the LLC and the number of members, the IRS will treat an LLC as either a corporation, partnership, or as part of the LLC’s owner’s tax return. If choose to be an LLC, you may need assistance filing tax forms for as an individual, partnership, or corporation.

We enjoy working alongside businesses, both small to medium sized. Allow the R&P Accounting & Taxes, Inc, help you decide which option is right for your business – call us at 305-358-1310 to schedule your consultation today at our Miami.

LLC Tax Deductions
We always recommend our clients seek legal counsel with an attorney for any legal questions they may have regarding incorporation.
Close

PARTNERSHIP

Establish A Business Relationship

If you have an existing relationship with one or more other professionals and carry on a trade or business, you may want to form an official partnership. In a partnership, each person contributes money, property, labor or skill, and each person shares in the profits and losses of the business.

A partnership must file an annual information return to report the income, deductions, gains, losses, etc., from its operations, but it does not pay income tax. Instead, it passes through any profits or losses to its partners. Each partner includes his or her share of the partnership’s income or loss on his or her individual tax return.

If you choose to establish a partnership, you may need assistance filing the following forms:

  • Annual return of income Form 1065
  • Employment Tax Forms 941, 943, 940, or 8109-B
  • Income Tax Forms 1040 and Schedule E
  • Self-employment Tax Forms 1040 and Schedule SE
  • Estimated Tax Form 1040-ES

If you are interested in officially forming an Partnership, call us at 305-358-1310 to get started.

Close

SOLE PROPRIETORSHIP

Going Into Business By Yourself

A sole proprietor is someone who owns an unincorporated business by himself or herself. If this sounds like you then contact the R&P Accounting & Taxes, Inc to help you establish the correct paperwork. It is important to keep your personal finances apart from those of your business so you can see if your business is being profitable or not.

If you choose sole proprietorship, you may need assistance filing the following forms:

  • Income Tax Forms (Individual 1040, Schedule C, or Schedule C-EZ)
  • Self-Employment Tax Form (Schedule SE)
  • Estimated Tax Form (1040-ES)
  • Social Security and Medicare Taxes and Income Tax Withholding Forms (941, 943, or 944)
  • Providing Information on SS, Medicare, and Income Tax Withholding Forms (W-2 or W-3)
  • Federal Unemployment Tax Form (940)

Call us at 305-358-1310 to schedule your consultation today.

Close

PAYROLL SERVICES

Setting Up a Payroll System

Having a payroll system in place will help your business run more efficiently. It will allow you to streamline your legal and financial responsibilities to both your employees and the government, so that you can focus your attention elsewhere. When it comes to managing payroll, you basically have two options: manage it in-house, or pay an accountant or bookkeeper to do it for you.

Set Up Payroll System

The first thing you must do is obtain the proper identification. Before hiring employees you must apply for an EIN from the IRS. This is basically the Social Security Number of your business, and is necessary when reporting information to the IRS and state governments. Check state and local laws as well; since many of these governments require businesses to have ID’s to process state and local taxes.

With all the necessary identifications, your next step is to establish pay periods and terms of employee compensation. You may have a preferred pay period, but know that some states have laws determining when to pay employees. Once you’ve determined how often to pay, you must decide on the terms. Will you offer paid vacation? Overtime? How will you track employee hours? What about healthcare premiums and retirement plans which will need to be deducted from checks and paid to the right organizations? All of these questions need to be answered and documented for your business.

Now you can begin hiring employees.

All employees must fill out a Federal Income Tax Withholding Form (or W-4) when they begin so you know how much federal income tax to withhold from their pay. You must have a W-4 on file for all active employees, and for three years after an employee has left the company. There are also several other forms that need to be kept on file. Payroll tax reports must be submitted on either a quarterly or an annual basis.

There is a lot of information, and a lot to keep track of, and while there are some business owners who are able to manage everything themselves, many others find it is simply easier and more convenient to hire a professional accountant for such payroll services.

Serving businesses in Miami, call our office at 305-358-1310 or fill out our contact form to learn more about our business payroll services.

Close

ATTESTATION

Reevaluating and Reassessing Your Financial Records

As a business owner, you may find you need a professional accountant to complete detailed records of your business’ current financial situation in order to reevaluate and reassess your tax and accounting needs. Beside company management, banks, financiers, sureties, government agencies, vendors, and other creditors may request a level of assurance to prove your company’s financial statements are accurate.

You may be wondering who may ask you for assurances regarding your business financials. The following is a list of a few of the organizations who may need this sort of data from your company:

  • Financiers
  • Sureties
  • Government agencies
  • Vendors
  • Company Management
  • Other creditors

Type of Attestation Services

Below are the Attestation Services we provide, which will help you increase profitability and maximize your company’s efficiency.

  • Audit Services
  • Review Services
  • Compilation Services

Call us at 305-358-1310 to speak with us and learn more about our attestation services.

COMPILATIONS
REVIEWS
AUDITS
Close

HOMEOWNER’S AND CONDO’S ASSOCIATION

Accounting Services For Your Association

The housing market is on the rise after its recent devastating crisis. Florida’s exquisite coast is one of the most appealing landscapes for home buyers and investors, and it’s important your Homeowners’ Association (HOA) or Condominium Association stays ahead of the pack. The support of an organized, efficient, and experienced bookkeeper is the oil you need to keep your machine running smoothly.

Do not make the mistake of attempting to be a ‘Jack of all Trades,’ the way many property managers and associations do. This is a difficult and oftentimes ineffective way to manage association finances. Many property management companies do not have qualified and properly-educated accountants on their staff. Also, generic management companies can have too many affairs going on to devote full attention to bookkeeping services for their clients. This leaves your finances, arguably the most important element of maintaining an efficient Association, neglected.

By hiring R&P Accounting & Taxes, Inc, for your homeowner’s or condo association accounting services, you are making the wise choice to free up your time for matters that will benefit from your direct attention and insight. Our services allow you to focus on Association tasks such as increasing beautification of your community, communicating with homeowners, legislating community rules and regulations, securing neighborhood safety, and organizing communal events and meetings. Feel confident that the finances of the community you’re responsible for are being taken care of by allowing our accountants to handle your bookkeeping.

Accounting is our area of expertise. After all, would you leave the Association’s landscaping or legal matters up to the property manager? We didn’t think so, call us today at 305-358-1310 to schedule an appointment at  Miami office.

Accountant For Homeowner’s and Condo Association Accounting Services:

  • Lockbox Services
  • Maintenance Payment Coupons and Envelopes Provided to Owners
  • Comprehensive Delinquency Reporting and Delinquency notification sent directly to owners
  • Preparation of all checks and payments to vendors
  • Delivery of all checks and invoices to Association for signing
  • Consult with the Association and prepare an annual operating budget, including worksheets detailing expenses and projections for the current and upcoming years
  • Provide detailed ledger and journal compiling cash receipts and disbursement details, as well as check transactions
  • Attend annual budget meetings, or any other meetings deemed necessary, of the Association
  • Keep extra copies and backup files of all Association records, and make them easily accessible to the Association
  • Complete all estoppel and HUD forms for buyers and sellers of the units within the Association
  • Homeowners’ and Condominium Association Tax Form Preparation and Filing (Forms 1120 and 1120-H)
Call us at 305-358-1310 to schedule your consultation today!
Close

ACCOUNTING AND BOOKKEEPING SERVICES

Accounting and Bookkeeping Services

We take care of your financial books so you can focus on your business and generating profits.
R&P Accounting & Taxes, Inc, are skilled at preparing books and organizing company records. After organizing your current financial situation, us take steps to set up an easy system that keeps your books organized and maintains efficient record-keeping in the coming years.

Businesses aiming to succeed despite the roller coaster economy we are experiencing need a strong network of support. Whether you are an already established business, or just starting out, you need the consultation of tax and accounting experts. Consider us a trusted partner in managing the financial security of your business. Through our accounting and bookkeeping services, we maintain impeccable books and records for your company and we set up effective current and projected budgets. All of our solutions are motivated by maximizing your tax returns.

Call us at 305-358-1310 to learn more about our Business Accounting and Bookkeeping services. We are a full-service firm in every aspect, and this stays true for our accounting and bookkeeping services for small and large buinesses. R&P Accounting & Taxes, Inc us financial advocates of your business. We provide the following services with your support in mind:
  • Initial Accounting & General Ledger Setup
  • Bookkeeping (Monthly, Quarterly, or Annually)
  • Accounting Support & Maintenance
  • Profit & Loss Report Preparation
  • Balance Sheets & Cash Flow Report Preparation
Call our business accountant today to schedule your accounting and bookkeeping consultation!
Close

COMPILATIONS

Preparing Your Business Financial Statements

Compilation is the most basic form of assurance we provide. Financial statements are prepared based upon reliance on management’s representation, our accounting knowledge, and general understanding of the company’s operations. Compilations are commonly performed in conjunction with preparing the Federal tax return and also to assist small and medium sized business owners prepare their financial statements. For companies with limited accounting resources who wish to receive Compilation services we suggest they pair it with our Bookkeeping/Accounting services so that they can understand and monitor their financial condition to make informed business decisions.

Call us at 305-358-1310 to learn more about business compilations services.

Close

REVIEWS

Understanding Your Financial Statements

A review provides limited assurance on a company’s financial statements. Review procedures are less in scope than an audit and primarily consist of analytical procedures and management inquiries. Review services are more extensive than the assurance provided in a compilation. Our review services provide our clients with the knowledge and expertise and outside parties with limited assurance on the reliability of a company’s financial statements without the expense and time of an audit.

Call us to learn more about company review services.

Close

AUDITS

Examining Business Financial Statements

An audit offers the highest level of assurance and includes a systematic, risk-based review and assessment of internal controls and a thorough examination of the financial statements. Our audit approach and procedures are custom designed for each client based on their business industry and operating structure. In addition to the audit report, we provide materials identifying any internal control weaknesses and recommendations for strengthening internal controls and procedures. We finish by suggesting areas that can be worked on to increase overall profitability.

Business Audits by a Professional

It is important to understand the internal workings of your business to see what exactly is bringing out profit and what is costing you. A business audit can help you get a clear picture of such workings to decide the best moves for the future of your business. Call us at 305-358-1310 to schedule a consultation to discuss an audit for your business.

Close