CFO Service & Professional Tax
Preparation and Advisory Service
for a Variety of Business Clients.
**NOTE:-The IRS has collected US$4.7 Trillion for 2023 tax filings; and paid US$659 Billion in 2023 tax refunds. The balance is used to fund social programs and the national debt, in accordance to the report from the Treasury Inspector General for Tax Administration( TIGTA).
For Tax Year 2024, The IRS will start accepting Corporation Tax Returns on JANUARY 16, 2025. The DEADLINE is MARCH 15, 2025. IRS Late Filing Fee is $250 per month. From INSIDE the USA, call IRS (800) 829-1040 and (800) 829-829-4933, From 7:00am Eastern Standard Time(EST). From OVERSEAS, (267) 941-1000 and (313) 234-6146, From 8:00am(EST). The website is IRS.GOV.
Thanks for logging-on to this webpage to get RELIABLE and DETAIL information that you need. We are READY to work with you, if Exceptional Results and Peace-of-mind are Important to you. Our clients testimonials are at the bottom of this page
We serve clients in FIVE major economic sectors. Hence, we have a lot of things going on. We know our clients industries, we understand their business model, we help them execute their business plan effectively; and we are proficient at managing our Clients Expectations. 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, CLEAR VISION, STRONG WORK ETHICS, and COMMITMENT they need to accomplish their goal/mission.
***NOTE:- We work with Paychex. Please contact us if you are considering 401-K plans, Payroll preparation, Human Resource Counseling and Health Insurance for your workers.
We have helped our Clients Generate Revenue, 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) that enabled them to maintain their Personal and Business Financial Obligations and Credit-Worthiness. What do you want us to do for you,TODAY?
Please get our APPROVAL first, then send us a copy of your Corporation "TRIAL BALANCE" in the General Ledger (Income, Expenses, and Balance Sheet Information); and we will prepare your BUSINESS tax return within 5 days AFTER we receive ALL your documents. Clients pay their choice of courier (UPS; FedEx; DHL; Post-Office) and send us their ORIGINAL documents. We give them up to $30 credit, and we pay the Post-Office(regular delivery rate) to return ALL ORIGINAL documents and a copy of the Tax Return that we prepared for them. Hence, they have NOTHING to lose. Time Management is VERY important to us. Call us when you are READY to do business with us.
"The Corporation Transparency Act":- A Corporation Tax Return MUST reach the IRS & State on or before March 15 (IRC Section 6072). It is your responsibility to file your Corporation Tax Return on time; OR File Federal Tax Extension Form 7004 and a State Tax Extension form EARLY, and avoid paying a Late Filing Penalty of $220 to the IRS and $200 to the state PER MONTH(IRS calls it, "Enforced Compliance"). The IRS website is IRS.gov. The IRS hotlines are (800)829-4933 and (800)829-1040 from 7am Eastern Standard Time(EST).
**NOTE:-Up to 20% of your BUSINESS INCOME is TAX FREE(Qualified Business Income Deduction)- IRC 199A.
**NOTE:-Get our monthly personal and business expert advise and Tax Planning Tips(This entails the Tax Impact on every personal and business transaction that you plan to undertake; and the Best Tax-efficient Structure that will MINIMIZE your Tax Liability and INCREASE your Cash-flow and Disposable Income).
Our network is vast and varied; and the synergies we bring to every client are limitless (Cohesive Group Dynamics). We answer our Clients key questions; and we share our co-competencies with them:-
#1)Products & Sales(Wholesale and Retail):-Product Line, Price Elasticity, Benchmarks, Overhead Expenses, Profit Margins, Free Cash Flow, Open Inventory, Customers Purchase Orders, Customer Acquisition Cost, Conversion Rate, Retention Rate, Re-order Rate, Delivery Cost, Products Return, Return Deadline, Re-stocking fees, Mark down cost, Loss Leaders, Clearance Pricing, Re-shipping costs, Re-orders from suppliers, Ending Inventory, Solvency Ratios/Stress Tests, etc.
#2)Costs Segregation and Leveraging/Scaling the business:- (Utility & Design Patent; Foreign exchange fluctuations; Customer Acquisition Cost; Investments; Cash Vs Credit; Self-Finance Vs Borrowing; Expense Vs Expenditure; Lease Vs Buy; Employee Vs Independent Contractor; Produce Vs Outsourcing; Key performance indicators, etc.).
#3) Due Diligence:- (Federal & States Labor Law; Accounts Reconciliation; Internal control deficiencies; Compilation & Review; Forensic Auditing; Tax Audits & Collection letters/notices; The 100% Tax Penalty, etc.).
#4) Risk Management (Accounts Receivable Collections):- We collect money from people that owe your company money and refused to pay you. Give us the contract(s) that you signed with each dead-beat.
We Prepare and File their Tax Returns and Deliver exceptional results, Handle Accounts Receivable Collections, IRS and State Audit; and we give them Peace-of-mind. In addition, we help them prepare for SBA loans, Bank Financing, Venture Capital Funding, and Suriety Bonding. Their goals and priorities are aligned(in-line) with our mission. Hence, we have always come through for them and keep them smiling during times of enormous changes and challenges in their lives and in their industry.
The Minimum Fee to Prepare and File a Business Tax Return (C-Corp., S-Corp., LLC., Partnership, and Sole-proprietorship) is $1,275.00 less $30 credit for mailing your documents to us. That is an affordable price that doesnt squeeze the CASH-FLOW in a Company that is facing Budgetary Constraints. Compare that 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 they will never pay you (Risks Management / 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 increase your business Credit-worthiness and Valuation with your Stakeholders ("The Domino/Multiplier effects"); PLUS you are in Capable Hands because we are proficient at managing expectations; and we have a proven and verifiable track record. Hence, you get Exceptional Results and Peace-of-mind; and you have nothing to lose (Value for money). Testimonials that we have received form our annual Business clients survey are overwhelmingly impressive.
Money is Wealth and Power. It also brings Financial Freedom, Happiness, and a lot of Friends. We will use every Regulatory Tax Loophole to help you keep more of your money; and we will put a BIG smile on your face.
We dont rely on simplistic rules of thumb scenarios to solve Business Tax Problems. Our methodology is meticulous; and it produces great results.
Tax Codes we use(Costs Segregation):- 61, 132, 162, 167, 168, 179, 195, 197, 199A, 212, 280, 301, 351 and 382(NOL calculations, limitations, and carry forward), 401, 441-446, 460, 704(b), 754, 761, 1015-1019, 1211, 1221, 1361-1378, 3402, 4975, 6072, 6662, 6695, etc. In addition to IRS 48 hours of Mandatory Annual Continuing Education.
Research Companies we use:-Thompson Reuters; Prentice-Hall; WG&L; CCH, BNA, and RIA. They are the best/legendary; and they are used by IRS Auditors. Hence, you are in capable hands with us.
Top Law Firms:-Kirkland.com; Skadden.com; Gtlaw.com; Lw.com; Davispolk.com; Paulweiss.com; Wirk.com; Cahill.com; Weil.com; Whitecase.com; Willkie.com; Sullcrom.com; Paulhastings.com; Cravath.com.
Top SBA Lenders:- Nybdc.com; Crossriver.com; Tdbank.com; Chase.com; Bicofny.org; Eastwestbank.com; Dime.com; Hanmi.com; Wellsfargo.com; Metrocitybank.bank; Rbacloan.com; Newtekone.com.
Lets get to the specifics and cut through the noise that everybody is making!!
Services we provide
#1)Business and Personal Tax Planning (Planning for unforeseen contingencies, Including changes in Tax Strategy, Business Tax Rates; and the Tax Aspects of Marriage, Separation, and Divorce - IRC Sections 1, 2, 6013, 7703, etc).
#2)Year-end Federal & States Tax Prepration and Filing. (Including Out-of-State Tax Credit).
#3)IRS & State(s) tax problem resolution (Payroll Tax audit; Collection Appeals; Delinquent Tax Returns; Prior year tax owed; Penalty Abatement; Garnishment; Filing for Bankruptcy; Failure to reply; Delinquent Child support; Default on student loan you co-sign, etc.). You can read for FREE Chapter 2, pages 11-20 in my best selling book,"Sweet Success" by Clemson Barry on Amazon.
#4)Franchising/Franchisee Advisory (Business Model and Proof of Concept; Customer Acquisition and Retention Costs; Conversion Rate; Sales Forecast/Target; Profit Margin; Return on Investment; etc.).
#5)Business and Commercial Real-Estate Advisory.(Start; Build; Buy; Lease; Lease Option; Inheritance/Succession; etc.).
#6) Business & Retail Analytics (Open Stock, Purchases; Sales; Closing stock; Turnovers; Retail Slotting Fees; Returns; Margins; Acquisition Costs; Retention Costs; Working Capital; Free Cash Flow; A/R; A/P; GL; Reconciliation; Solvency Ratios/ Stress Tests; Anomalies and Reconstruction. Personal and Business Financial Statements; Business Valuation; Loan Application, etc.).
Compilation & Review Service
If your Stakeholders(Shareholders, Suppliers & Lenders) need a Periodic/Interim Report of your Business Financial Status, we will review the information 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.
There are TWO standard methods for reporting business Income & Expenses:- Cash and Accrual methods.Your business can use the Cash Method to report revenue up to $27 million[Section 446(c)(1)] and 448(c); and Section 179 Expense Deduction up to $1,080,000 OR Your Business can use the Accrual Method (IRC 446(c)(2). You must choose ONE method for reporting income & expenses or face IRS and State audit/scrutiny if you use BOTH methods. We are position to serve your BUSINESS and make your life easier with monthly or quarterly bookkeeping compliance and financial due diligence services such as:- (Cash Vs Accural; Employees Vs Independent Contractors; Calendar Year Vs Fiscal Year; Buy Vs Lease; Loan Vs Cash reinvestment; In-house production Vs Co-Packers & Outsourcing; Cash flow forecasting; and strategic positioning of all aspects of your operations, etc). We also work with PAYCHEX.
Business Tax Return Preparation.
We know your industry ("Industry-Specific" knowledge); and we are Results-oriented/Profit-focused. Your business will get EVERY tax credit, deduction, and exclusion that are available under the new tax laws. You will save thousands of dollars in taxes and have a BIG smile on your face. Assignments are completed Quickly, Efficiently, and Accurately; and we put our commitment, track record and reputation behind them.
Business Advisory Service
"Sometimes, its not how much money you make, its how much money you get to keep":- If you own a business, take a look at a situation that we have discovered. This is about TWO companies of Similar Size, operating in the same industry, in the same State/City; and in the same year:-
Company#1
Gross Annual Revenue $920,250
Net Profit $598,163 (65% Profit).
Company #2
Gross Annual Revenue $1,540,310
Net Profit $262,093 (17% Profit).
**NOTE:- Company #2 earned $620,060 more revenue than Company #1; and Company #2 has generated $336,070 less profit than Company#1. Large companies are facing a similar situation(Trend Analysis). We have found the problem and ways to apply leverage to increase Margins and Profitability(Key Performance Indicators) to company #2 after we have benchmark the company(Key Performance Indicators Vs Industry benchmark). The owners are being guided by a new vision and unifying goals; and we follow up with them monthly.
***(Things that get measured get improved. Key Performance Indicators show how efficient and profitable a company is when compared to the industry benchmarks).
Business Advisory Service
Small and Large Corporations are frequently confronted with this decision, "Buy Vs Lease":-
A) Buy or Lease/Rent trucks and equipment.
B) Buy or Lease/Rent a building to house Offices, Workshop, Warehouse, and/or Parking Garage.
**Both Leasing and Buying have Financial Benefits, Tax Benefits, and Drawbacks (Pros & Cons)that are too numerous to discuss here. However, the reality is 65% of businesses Lease/Rent office space, building, vehicles, and equipment because:-
#1)Lease payments are financially feasible and they are fully tax deductible business expense. When money from those tax breaks are invested wisely the return on investment is the same as, and sometimes it is better than, owning a property.("Law Firms leasing doubles in NY City", Crains New York Business, Page 06, October 25, 2021).
#2)Vendors prefer to Lease/Rent their equipment to business customers because leasing provides those vendors with a Recurring Income Stream.
#3)Landlords prefer to Lease/Rent their buildings to commercial tenants because those buildings provide them with a Recurring Income Stream; and they passed on those buildings to their heirs (Estate Planning) instead of selling those buildings to their tenants/business owners.
#4)Many Business Owners and Major Corporations prefer to lease space/buildings in accordance to/with their BUSINESS STRATEGIC PLAN. Facebook, Apple, Google, Amazon, etc have $billions in Net Profits and they are Leasing more production and office space instead of buying those buildings or constructing new building of their own. Amazon signed a 15-year lease at the Hudson Yards in Manhattan. The property is owned by Brookfield Properties ("Crains NY Business", Pg 06, Nov. 29, 2021).
Business Education
(NYU, Columbia, Taft, & USC)
- MS Taxation.
- MBA and PhD Business Administration.
- Certificates in Mortgage Underwriting & Banking (Mortgage Bankers Association of America). -Certificate in Accounts Receivable, Controls & Collections (Dunn & Bradstreet).
Business Qualifications
- IRS Enrolled Agent - (1989 to present).
- CFE Certified Fraud Examiner.
- CMC Certified Management Consultant.
- CVA Certified Valuation Analyst.
- Insurance Broker (property & casualty).
- IRS 48 hours of Mandatory Annual Continuing Education.
How we obtain new clients:-
*Direct mailing from our exclusive Database.
*Family-Law Attorneys preparing Pre-nuptial and Divorce Agreements.
*Mailing list from Trades Associations.
*State department of corporations registry.
*Business owners searching on Google, UTube, and on other search engines.
Independent Survey: The top eight RANDOM reasons clients gave for doing business with us: Experience, knowledge of their industry, hands-on, transparent, reliable, speed, accuracy, and results-oriented.
Testimonials from our clients survey
**NOTE:-You DONT have to believe whatever they are saying. EXPERIENCE it for YOURSELF. Call us today; and start doing business with us. Thank you!
1) "Thanks for filing the tax returns for my Mail Order Distribution company. It was not as simple as I thought. Listening to you has opened my eyes to things that I had overlooked and was not aware of as a new business owner. I could tell you really know this business".-Kate McGrelly, Manhattan, NY.
2) "BIG MISTAKE!! Over the years I paid a lot of income taxes because I allowed the people who filed my fleet fuel tax reports prepared my business tax returns. I am looking at the e-mail you sent me; and I cant believe the amount of money you saved me. Wow!!" - Eva Jordan (Truck Company Owner), Atlanta, GA.
3) "My personal and business tax returns are complex, and I needed a Tax Accountant. I received numerous referrals; but I am very picky/fastidious. Every time I researched and reviewed my list of prospects and their customers experiences, your name kept coming up. Thats why I contacted you and send you my documents. I am glad I trusted you. Great results. Thank you!" - J. Morrison, (Business Owner), Manhattan, N.Y.
4) "You gave us some valuable information. We have leased a fleet of trucks and the leasing company has encouraged us to retain your services"- Allan & Tom, Shippers & Movers, Randall Ave., Bronx, New York.
5) "I am a ship captain. I dont have time to visit an Accountant. I organized my documents and mailed them to Barry. Two weeks later my tax refund was in my bank account; and my copy, a gift, and the documents I sent him arrived at my address. I was like, wow!! I like that".- Capt., Samuel, K (Jacksonville, FL).
6) "Thanks for helping me claim the Foreign Earned Income exclusion and the Foreign Tax Credit. You are sharp! You didnt hesitate to tell me I was qualified for those tax breaks, and proved it to me. That was the quickest response I have had".- Capt., J. Dundee (London, UK).
7) "I opened my second store to accommodate upscale shoppers; and my collections are flying off the racks. I am ready to franchise my brand and I have plans to take the business public. Thanks for believing in me and thanks for being there for me."- Angelina Cruz, High fashion Retailer, Miami, Florida.
8) "The Shipping Company we inherited were in total disarray. Barry helped us reorganized it and make it efficient and profitable. Our customers, bond holder, bank, and freight forwarders are happy with our performances. Free cash flow, working capital, and daily operations have improved tremendously. We stopped paying high overdraft fees; and the bank has increased our revolving line of credit."- Andre, Julian & Mindy Roache, Owners, Brooklyn & Queens, New York.
9) "Our Construction company was under investigation because we didnt file tax returns and pay the sales and payroll taxes. We called several accountants who used to solicit us for business, but they were too busy attending to their regular clients. We found Barrys Accounting Services listing in our local newspaper. We called Barry and we agreed to provide him with the information he requested. We paid $8,226 less in penalties and interest. Our financial affairs are finally back on track and we are happy. Thanks, Barry."- Leo & Jane Robinson, Owners, Jamaica, New York.
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Trucking / Delivery / Courier Industry
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Company Loading dock / Government pier
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The Skills-Trade Industry
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The Construction Industry
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Mail Order / Wholesale / Retail Industry
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Airline /Air cargo Industry
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Shipping / Merchant Marine Industry
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