Barry\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\'s Accounting Services, Corp.
1852 Flatbush Avenue - 2nd Floor
Brooklyn, New York 11210
(718) 677-4006
E-mail:
clembarry@aol.com
 
 
Client Update - quarterly newsletter
 
   

 

Professional Tax Preparation;

and CFO Service we provide for

a variety of business clients.

We answer their difficult questions, Prepare and File their Tax Returns, Deliver exceptional results, Handle IRS and State Audit; and 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.

Our network is vast and varied; and the synergies we bring to every client are limitless. The turn-around time to prepare and file a Business Tax Return is 2 to 5 days AFTER we received ALL the information. Time Management is VERY important to us. Call us when you are READY to do business with us

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 printing & mailing your documents to us. That is an affordable price that doesnt squeeze the budget in a Cash-Strapped company. Compare that alongside the TOTAL amount of Bad Debts/Money in your A/R that you must Write-Off because your Customers have Short-Change you and they will never pay you (Due Diligence).

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 (Bank, Suppliers, Investors, etc.); 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. Some of our clients FAX us their information. Most of them paid their choice of courier and send us their information (FedEx, UPS, DHL and Post-Office).

Business tax returns MUST reach the IRS & State on or before March 15(IRC 6072). You can file Individual Extension Form 4868 and/or From 7004 for a Business on IRS.Gov and avoid paying a Late Filing Penalty of $220 to the IRS and $200 to the State PER MONTH. You can call the IRS (800) 829-1040 from 7am Eastern Standard Time.

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, 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.

Lets get to the specifics and cut through the noise that everybody is making!!

The new Federal Administration has proposed to increase Tax Rates. Coproration from 21% to 28%, Individuals from 37% to 39.6%; and Capital Gains from 23.8% to 43.4%. Start your Strategic Planning now!

 

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; BuildBuy; Lease; Lease Option; Inheritance/Succession; etc.).

#6) Business Analytics (Sales; ReturnsMargins; Acquisition Costs; Retention Costs; Working Capital; Free Cash Flow; A/R; A/P; Reconciliation; Anomalies and Reconstruction.  Personal and Business Financial Statements; Business Valuation; Loan Application, etc.).

 

Book-Keeping For Tax Compliance

There are TWO standard methods for reporting business Income & Expenses:- Cash and Accrual. You must choose ONE method or face IRS and State audit if you are using 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 (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 ADP and 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. Isnt that interesting? Large companies are facing a similar situation. We are helping the owners of company #2 to benchmark the company and increase margins and profitability(Financial ratios Vs Industry benchmark). They are being guided by a new vision and unifying goals; and we follow up with them monthly.

***(Financial ratios show how efficient and profitable they operate their companies when compared to their 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)There are NEVER enough commercial buildings available to sell to EVERY Small Business Owner or Major Corporation that wants to own a building to house their business operations. Hence, many of those corporations, including Facebook, Apple, Google, etc are Leasing more office space in High-rise buildings/office towers) (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).

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 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.

Cleints Testimonials

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.

 

Trucking company
Trucking / Delivery / Courier Industry

Loading dock/pier
Company Loading dock / Government pier

Construction company
The Skills-Trade Industry

Land development company
The Construction Industry

Wholesale, retail company
Mail Order / Wholesale / Retail Industry

Manufacturing company
Manufacturing Industry

Master chef
The Culinary Industry

Fashion model
The Fashion Industry

Air cargo
Airline /Air cargo Industry

Ocean freight
Shipping / Merchant Marine Industry

Bookkeeping Services - click here

The Hospitality Industry - click here

Corporate Tax Preparation Checklist - click here

Forming a Board - click here

Insurance coverage and tax deductions for truckers - click here