Small Business Accountant & Bookkeeper in Plano, TX
Steve Hill & Associates LLC is a accounting firm in Plano dedicated to the financial needs of small businesses in Plano, McKinney, Frisco, North Dallas, Richardson, and the surrounding communities. We are well-versed in federal, state and local taxes that affect small businesses and have extensive expertise in small business accounting systems. We can take care of your bookkeeping, financial reporting, tax compliance, payroll, tax planning, QuickBooks hosting, and electronic document storage. Our team of small business experts in Plano typically provides most of these services as a package for a fixed monthly fee.
Our Plano CPA Firm Offers QuickBooks Hosting in the Cloud
We use the full desktop version of QuickBooks in a cloud hosting environment through a secure SOC2/SSAE16 certified data center in San Diego, CA. Our hosting package will ensure you are always using the most current version of QuickBooks, that your data is secure, and that your files are properly backed up daily at multiple off-site locations. We have access to your books from anywhere with internet access on a 24/7/365 basis. Click to learn more about our QuickBooks Hosting in the Cloud. Our client user package includes access to the most current version of QuickBooks, as well as Microsoft Word, Excel, and Outlook. It also includes an electronic document storage system where clients can safely store digital copies of financial reports, tax returns, bank statements, credit card statements, paid bills, customer invoices and payments and any other documents they choose, virtually eliminating the need for paper copies stored in filing cabinets. Click to learn more about the Cloud Services our Plano CPA firm offers.
We use the Accountant’s version of QuickBooks to maintain the books of our clients. Typically, on a monthly basis, clients provide us with bank statements, credit card statements, check registers, sales reports and other source documents, which we input or import into QuickBooks. We also post adjusting entries for things like depreciation, amortization, bank loan interest, etc. We then reconcile all the accounts and generate a general ledger that details all the transactions and account balances. We tailor the bookkeeping process for each client to meet the specific needs of that client. We grant clients access to their QuickBooks file in the Cloud so they can post daily transactions, such as customer billings,payments, and paying bills. Using QuickBooks to maintain your small businesses’ books meets the IRS requirement that states companies need to use a double-entry accounting system.
The Real-Time Bookkeeping Advantage
We are also well-equipped to take on the day-to-day responsibilities of your bookkeeping, including paying bills, billing customers, posting customers’ payments, preparing payroll, and performing other daily, weekly and monthly bookkeeping procedures. We provide real-time bookkeeping services on a rate-per-hour basis, which is generally a fraction of the cost of a full-time in-house bookkeeper. You may be able to contract a part-time bookkeeper at a lower rate per hour, but you will be missing out on the efficiencies of our bookkeeping process, our direct supervision and oversight by an experienced CPA, and the comfort of knowing your bookkeeping is being done by a qualified, licensed CPA with small business experience in Plano. Many clients have found that, by the time they pay us to review the work of their bookkeeper and close the books, they would have saved money by hiring us to do the books from the start.
Detailed Financial Reporting
Businesses have numerous reasons for needing timely, accurate financial reports --with the most important reason being to let the owner know how their business is doing financially. It takes much more than monitoring the bank balance to manage the financial health of a business. Companies with bank loans are typically required to provide their bank with monthly, quarterly, or annual financial statements. If the company has outside owners or investors, the company is obligated to provide them with periodic financial statements. Our typical financial statement package includes a compiled balance sheet and income statement. We can also provide a statement of cash flows and financial statement notes if needed.
Knowledgeable Tax Compliance Services from a Reliable CPA
Corporations and Limited Liability Companies have tax reporting responsibilities to the IRS, the state comptroller, the social security administration and, in some cases, the secretary of state. Preparing the tax forms, meeting the filing and tax payment deadlines can be a bit overwhelming. Failing to meet all the requirements can result in substantial fines, penalties and interest. It can also result in the forfeiture of licenses, permits and the right to conduct business. Our CPAs in Plano have extensive experience in preparing and filing tax reports and payments for small businesses. Not only do we make sure all the deadlines are met and the appropriate tax is paid, we also make sure our clients do not pay any more tax than is legally required. We have developed a number of tax strategies that have saved our clients thousands of tax dollars.
Individualized Payroll Services for Your Small Business
We have partnered with ADP to provide our clients with outstanding payroll service. Because of our relationship with ADP, our clients receive preferred pricing for payroll services. We are also able to download and import payroll information directly into QuickBooks. Click HERE to learn more about the customized payroll services our Plano financial professionals can offer for you.
Ensuring a Maximized Tax Return with Tax Planning
At Steve Hill and Associates, our Plano tax planning team pride ourselves on our innovative tax planning strategies. After considering our clients’ specific circumstances and goals, we develop the most tax advantageous strategy that will work within those circumstances and will help to achieve those goals. We consider factors like the number of owners, if the owners are family members or if there are unrelated owners, if saving for retirement is currently important or will it be at some point in the future, what other income might the owner and anyone they file a joint tax return with have, and amount of income the business is expected to generate. It is critical to consider all these factors before deciding the type of entity to operate the business under and before setting owner salaries.
Secure Electronic Document Storage
Our website includes a client portal system where we store digital copies of client financial statements, tax returns, general ledgers, and other relevant documents to help your small business stay organized Rather than printing paper copies of these documents, we create digital copies and store them in the client portal. From within the portal, clients can view, download, and print the documents. We keep the documents in the portal for approximately three years, which is the time period within which audits are typically initiated. We keep our digital copies of these documents indefinitely. The portal also serves as a means of securely exchanging documents with clients.
Steve Hill and Associates is happy to provide a team of financial professionals that are ready to help your Plano small business thrive and secure future success. To find our more how about a skilled CPA can assist in the growth of your small business, contact us today!