Accounting services by accounting professionals
Posted by dynamohi on February 9th, 2016
An accounting firm usually provides accounting, finalization and taxation services to the clients. They provide assistance to the clients in the matters of various types of taxation such as income tax, sales tax, wealth tax, and other indirect taxes. Today accounting firms are also providing services such as forex advisory, CPA, financial analysis, etc. They are providing services to individuals, business firms and non-profit organizations.
Services to the business firms
To the business firms, they provide various types of services such as payroll, accounting, auditing, bank financing, and cash flow management, financial advice during the time of mergers, absorption or reconstruction. The business firms require advanced services such as internal control, financial and cash flow management, strategic planning etc. So such firms provide the following services to the clients. The firms usually comprise of qualified accountants who are certified from recognized institutes. Even small business firms require accounting services as they maintain books of accounts such as cash book, ledgers, sales and purchase books, and various statements. A financial manager of a firm requires a financial advisor to help in formulating policies and establishing goals. A qualified accountant analyzes and interprets the financial status of the firm and formulates policies and helps in devising strategies for success. So, a qualified accountant also performs CFO services.
An individual or a business organization files returns for payment of taxes. The process of filing returns is a tedious task and an individual or a business firm should fulfil many formalities and encounter the tax authorities. Apart from filing returns, they should also perform tasks such as tax planning and should resolve various taxation issues pertaining to business firms. The other complicated issues pertaining to taxation service include IRS liens, IRS levies, tax problems, wage garnishment, audit representation etc. payment plan and even deal with bankruptcy issues.
Today accounting firms also provide immigration solutions to the individuals who want to travel abroad. So, such immigrants should understand immigration laws and so the accounting firms provide advisory services. Apart from immigration services the other services provided by accounting firm includes financial planning, estate planning and elder care. They provide personal financial planning to those individuals who want to plan about retirement benefits, investment, improving credit score, and manage various financial risks. So, they also deal with estate planning issues such as bureaucracy, probate courts, health care concerns, life insurance etc.
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About the Authordynamohi
Joined: January 28th, 2014
Articles Posted: 218
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