CFO Services; Tax Planning, Professional
Tax Preparation, and Advisory Services
for Construction & Mechanical Companies,
and Self-employed Skilled-Trades Workers.
Thanks for logging-on to this webpage to get RELIABLE and DETAIL information that are UNIQUE to your CAREER in "The Skilled/Technical Trades Industry". We are READY to work with you, if Exceptional Results and Tangible Benefits are Important to you.
Top Real Estate Developers are Hiring:-Slgreen.com; Durst.com; Bxp.com; Rudin.com; BlackStone.com; TishmanSpeyer.com; SilversteinProperties.com; Related.com; BrookfieldProperties.com.
We are proficient at managing clients expectation. Our website attracts over 1,020,000 readers. Some of them are Clients, Some of them are Paid Subscribers, and some of them are searching for a Tax-Accountant or Business Advisor that has the EXPERTISE("Industry-Specific Knowledge"), SHARED-PASSION, STRONG WORK ETHICS, and COMMITMENT they need to accomplish their Goal/Mission. We will prepare your Business Tax Return WITHIN 5-DAYS AFTER we receive ALL your documents. If you are going to file your tax return late, go to the IRS Website (IRS.Gov) and file extension Form 7004 for a Corporation. Time Management is VERY important to us. Contact us when you are READY to do BUSINESS with us.
***NOTE:-The IRS has collected US$4.9 Trillion for 2022 tax filings. That is US$790 Billion more than 2021 tax filing, in accordance to the report from the Treasury Inspector General for Tax Administration(TIGTA). This is proof that the IRS is adhering to "Enforced Compliance" measures. The IRS will start accepting Corporation Tax Returns on JANUARY 16, 2024. The DEADLINE is MARCH 15, 2024.
We Prepare and File Present and Prior years Annual Tax Returns for over 500 New and Regular Contractors. Some of them have HIC License and HIS License. They are Genreal Contractors(GC), Sub-Contractors(Subs), and Handyman Special. Some of them report Income on the Cash-Basis[IRC 446(c)(1) and 448(c)]; and Some of them report Income on the Accrual Basis[IRC 446(c)(2)]. They operate as S-Corp., C-Corp., LLC., and Sole-proprietorships in the following trades:- Home Improvement, Roofing, Masonry, Welding, Carpentry, Demolition, Electrical, General Construction, Mechanical, and Plumbing in:-NY, NJ, PA, GA, FL, and CA. Some of them pay their choice of courier (Post-office, FedX, UPS, DHL) and send us their ORIGINAL documents. We give them up to $30 Credit; and we pay the Post-Office (Regular Rate) to return their documents and a copy of the tax return that we prepared for them
We have helped our Clients Generate Revenues, Managed their Discretionary Spending/Recurring expenditures, and Overcome Financial and Economic Challenges/Hurdles; and we saved them $450 million in Expenses and Taxes. Hence, they have more LIQUIDITY (Cash-Flow, Disposable Income, and Working Capital) to maintain their Business Operations and Credit-Worthiness. What do you want us to do for you, TODAY?
**NOTE:-(Contractors) Up to 20% of your Business Income is tax FREE:-(IRC 199A); and get up to $7,500 Tax Credit if you purchase a NEW electric Truck.
**NOTE:-(Cost Segregation For Builders) Completed Contract Method or Percentage of Completion Method - (IRC 460 & 461); plus Sales & Use Tax to the State.
**NOTE:- Please get our APPROVAL first, then Send us a copy of your Corporation "TRIAL BALANCE" in your General Ledger(Income, Expenses, and Balance Sheet information). We will prepare your BUSINESS Tax return within 5 days AFTER we receive ALL your documents.
***NOTE:-Get monthly Personal & Business Expert Advice and Tax Planning. (Our CONTINUALLY Updated Tax DATABASE contains over 1,000 Tax Strategies that are unique to your industry. It enables us to use the BEST Tax-efficient structure that will MINIMIZE your TAX LIABILITY; and INCREASE your Cash Flow, Working Capital, and Disposable Income).
***NOTE:-Accounts Receivable Collection (We can collect money from people that owe your company money and are refusing to pay you. Give us the contract(s) that you had signed with each dead-beat).
RISKS MANAGEMENT:- We answer contractors difficult questions and we share our co-competencies with them:- (Project Management; Employee Vs Independent Contractor; Self-financing Vs Borrowing; Expense Vs Expenditure; Federal & State Labor Laws; Occupational Safety Rules; OSHA Investigations; Insurance & Bonding; Bidding; Accounts Receivable Collections; Compiliation & Review; Key Performance Indicators; Internal Controls Deficiencies; IRS & States Tax Audits & Collections notices; The 100% Payroll-Tax Penalty; etc.).
"The Corporate Transparency Act":- Business Tax Return MUST reach the IRS and State on or before March 15 (IRC Section 6072). File early and avoid paying a Late Filing Penalty of $245 to the IRS and $200 to the State PER MONTH (IRS calls it, "Enforced Compliance") . File Extension Form 4868 and/or Form 7004 on IRS.gov. You can call the IRS HOTLINE (800) 829-4933 and (800) 829-1040 from 7am Eastern Standard Time.
Tax Preparation Fee
The Minimum Fee to Prepare and File a Business Tax Return is $1,275.00(Less up to $30 credit for sending us your ORIGINAL documents). That is an affordable price that doesnt squeeze the CASH-FLOW in a company that is operating under BUDGETARY CONSTRAINTS. Compare this price alongside the TOTAL amount of Money/Bad debts in your A/R and G/L account that you must Write-Off because your Customers have Short-Change you and will never pay you (Due Diligence / Financial Prudence / Checks & Balances):- A Reality Check.
The fee is Tax Deductible. In addition, it is an INVESTMENT you made to MINIMIZE your Tax Liability, keep more Working Capital in your Business Bank Account, and improve your Business Credit-worthiness and Valuation with your Stakeholders. PLUS, you are in Capable Hands; and we have a proven and verifiable track record. Therefore, you get Exceptional Results and Piece-of-mind and you have NOTHING to lose(Value for Money). Testimonials that we have received during our annual Skills-Trade clients survey are overwhelmingly impressive.
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Top SBA Lenders:-Nybdc.com; Smartbizloans.com; Crossriver.com; Rbacloan.com; Bicofny.org; Hanmi.com; Newtekone.com; Tdbank.com; Chase.com; Wellsfargo.com; Dime.com; Metrocitybank.bank; Eastwestbank.com.
Compilation & Review Service
If your Stakeholders(Shareholders, Suppliers & Lenders) need a Periodic or Interim Report of your Business Financial Status, we will review the information that your company management provide us; and we will select transactions and identify items that require further analysis and adjustment to the accounting records to give assurance to the integrity (validity & reliability) of the information that your company has presented to us. The fee for this service is $1,275 per review.
Tax Codes we use (Costs Segregation Analysis):- 61, 132,162, 167, 168, 179, 195, 197, 199A, 212, 280, 351, 382(NOL calculations, limitations and carryforward); 401, 441-446, 460, 704(b), 754, 761, 1015-1019, 1211, 1221, 1361-1378, 3402, 4975, 6072, 6081, 6662, etc.); Plus IRS 48 hours of Mandatory Annual Continuing Education. We dont rely on simplistic rules of thumb scenarios and abstract concepts to solve Tax Problems. Our methodology is factually deep and effective. We have a proven and Verifiable track record in this industry and with the IRS and States.
Research Companies we use:-Thompson Reuters; Prentice-Hall; WG&L; RIA; BNA; and CCH. They are the best/legendary; and they are used by IRS Auditors. Hence, you are in capable hands with us.
Other Services We Provide
1)Annual Tax Planning (Using over 1,000 tax planning strategies to help you avoid overpaying thousands of dollars in personal and business taxes to the IRS & State. This includes the Tax aspects of Marriage, Separation & Divorce).
2)Personal and Business Tax, Preparation and Filing (We combine annual Tax Planning Strategy with Tax Preparation and bring amazing results for our clients).
2)Financial Planning (Pro-active and strategic planning to counteract financial surprises; or unforeseen contingencies, including emergency cash flow to finance working capital, payroll, personal living expenses, medical expenses, pension; etc.).
3)Business Loan Application; Personal and Business Financial Statement; Contracts Review, and Business Valuation.
4)IRS & State(s) Tax Problem Resolution (Payroll tax audit; Failure to reply; Collection appeals; Wage garnishment; Penalty abatement; Delinquent tax returns; Innocent spouse forgiveness; Taxes owed in prior years; Delinquent on child support payments; Default on student loan; Tax refund seizure; etc). You can read for FREE Chater 2, pages 11-20 in my best selling book, "Sweet Success, knowledge & quick-skills" by Clemson Barry on Amazon.
5)Business Advisory (Federal & State labor laws; Contract Review; Insurance & Bonding; Financial Statement; Bankruptcy; Cash-Flow Forecasting; Cash Basis Vs Accrual Basis; Calendar Year Vs Fiscal Year; Working Capital; Lawsuit; A/R Collections; etc.).
What we want from you
#1)Your Phone number and E-mail address for quick communication.
#2)A paper copy of the last tax return you file.
#3)Your Business Gross Income and Expenses from your General Ledger. (We will need additional information from your TRIAL BALANCE to prepare your Business Balance Sheet If the Gross income is over $250,000).
#4) A paper copy of your Drivers license or State ID (Starting in 2016, the IRS required the information be on ALL Tax Returns to help deter ID Theft) - IRS (800) 829-1040 from 7am EST.
#5)Give us the letter you received from the IRS with the IP PIN number that was assigned to you to put on your tax return(Identity Protection Personal Identification Number).
#6)Social Security Cards and Birth Certificates for everybody you are claiming on your tax return; and information from Day Care or Babysitter you pay.
#7)Form 1098-T for College tuition you paid for yourself and each dependent; Form 1099 for Student Loan Interest you paid.
#8)Rental Income you received from tenants; and Expenses you paid to maintain the property during the year.
#9)Forms 1099 from your Mortgage Company for Mortgage Interest; Real Estate Tax; School Tax; Town Tax; Community Tax and Village Tax you paid for each Residence, Rental Property, Vacation Home, and Time Share you own.
#10)Forms 1095 for Medical Insurance you paid for yourself and your dependents-(IRC Section 6051; Forms 1099 for Unemployment, Disability, and Social Security Income you received.
#11)Forms W2 from your Union or Employer; Forms 1099 from your Bank and Brokerage Company for Interest and Dividends you received, and Bonds and Stocks you sold during the year.
#12)Forms W2-G for gambling winnings from Casions, State Lottery, Horse Race, etc.
#13)Your Credit Card or Bank Account Information to pay for the service.
How we obtain new Skilled-Trade Clients:- Direct mail from our exclusive database; Mailing list from Trade Associations, Mailing list companies, and States Departments of Corporations registry.
Industry Related Education
*MS Taxation; and MBA Business Mgt.
*IRS Enrolled Agent-(1989 to Present).
*IRS 48 hours of Mandatory Annual Continuing Education.
*Insurance Broker (Property & Casualty).
*Construction & Project Management-(NYU).
*Real Estate Employment-(Century-21 Greenfield).
*Accounts Receivable Control & Collection (Dunn & Bradstreet).
Testimonials:-"I found Barrys Accounting Services, Corp. on the internet. I received so much information from the companys website that I had to try the servics. I am happy I did." - E. Mackenzie, Electrical Contractor (Jamaica, N.Y.).
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General OverView
We are quite familiar with your Industry Standards and Practices ("Industry-specific" Knowledge):-
1)The Seasonality .
2)Project & Risk Management.
3)The need to manage Cash-Flow agressively and efficiently.
4)Contractor licenses(HIC and HIS)
5)Annual Tax Reporting(Cash Vs Accural)
6)Employees Wages-W2s and Sub-contractors compensation-1099s. Employee Vs. Independent Contractor is where the IRS and DOL focus their Payroll Audits.
7)Activities/Project Workflow:-Location/Site, Zoning ordinance, Adverse weather condition preparedness; Design & Budget; Bids; Proposals; Permits; Early scheduling of inspection; Costs & Revenue Projections; Cash-flow; Working Capital; Sub-contractors; Surety bonds; Insurance; Rules for erecting temporary barrier & privacy fence; Scaffolding laws; Roll-off dumpsters; Heavy equipment delivery; Storage containers; Office trailers; Generators; Portable toilets & shower; Equipment cost to job; Selecting qualified materials & supplies; On-time deliveries; Work in progress; Contracts execution & compliance(Each job has a skilled crew foreman and all materials used are in compliance with industry standards); Defects; Change orders; Delays; Tracking purchase orders; Overhead rate analysis (Actual & Variences); Budget/Cost overrun and Contract Splitting; Breach of Trust; Liens & Lien waivers; Damage waivers; Warranty; Claims; Errors/Omission; Sales & Payroll Taxes; Sales tax exempt organizations; Accounts Receivable & Payable; Certified Payroll; Contract & Procurement Investigation, etc...We also work with ADP & Paychex).
"We are laser-focus and tenacious. With us in your corner, you wil be empowered to make great business decisions. You will have a knowledgeable and valuable resource to turn to for practical and profitable Business and Tax advice, including the Tax Aspects of Marriage, Separation & Divorce. Written testimonials we obtained during our annnual clients surveys are overwhelmingly impressive."
Tax Preparation for Skills-Trade Clients.
We will use EVERY regulatory tax loophole, credit, deduction and exclusion in the new and constantly changing tax laws to reduce or eliminate your tax liability and put a BIG smile on your face. Time is of the essence. Therefore, your assignments will be completed Quickly, Efficiently, and Accurately when you give us all the necessary information. You have a lot of work to get done. Lets start today!!
Project Management
Whether you are a new client looking for a project manager in your industry, or an existing client with an emergency, we can serve as the main contact throughout the length of your project. That entails project development, execution, oversight, due diligence, checks & balances, and interim reports to meet your needs and ensure your satisfaction.
Annual Continuing Education :- Site survey; Assessments; Zoning ordinances; Land development; Building designs; City approval & permits; Qualified Materials; Supplies & Suppliers; Construction Accounting & Auditing; Loans (Construction, Bridge and Mortgage); Short & Long term debts; Selecting qualified Architects & General Contractors; Estimates; Proposals; Insurance; Suriety Bonding(Bid, Payment and Performance bonds); Contract preparation & reviews; Barriers; Posting notices on barriers; Scaffolding laws; Environmental laws; Project Management; Construction delays & cost overrun; Employees and qualified sub-contractors; Federal & State Labor laws; Federal & State payroll laws and compliance; Managing union payroll; Sales tax exempt organizations; Government filings/reporting & Audit requirements; Collective bargains/unions negotiations, etc.
Question:- What can a real estate owner do to minimize construction disputes?
Answer
1) Communicate your ideas to the contractor and be realistic. Tell the contractor the size of your budget. You have the right to make adjustments before you sign the contract.
2) Monitor the job and have the contractor check with you if additional work has to be done.
3) If you want to change something, get the agreement in writing ("Change Order" form). In a verbal agreement, you or the contractor may not remember what either of you had agreed to.
Question: - What can a real estate owner do if s/he doesnt want to personally get involved in a project, but wants to rely on a trusted individual or project manager?
Answer:- Hire my firm. A qualified project manager will serve as my main contact throughout the length of the project while I visit the project periodically and keep you up to date with frequent reports. Our Fee:- Clients can choose between two pricing. A flat fee; or a fee that is based on results (performance-based compensation).
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