OUR SERVICES

Tax Services

Tax services in the Greater Los Angeles area has never been easier for your personal or business taxes. We know that taxes are the annual event everyone struggles with. We also know that businesses, particularly small businesses, struggle with taxes even more because of all the issues that deal proper classifications of write-offs, employer taxes, changes in tax reforms, tax benefits, and most importantly, payroll tax. With our expert tax service we can handle any issue with our tax solutions that help you with tax planning and preparation, tax problems, and tax audits. We take a preemptive approach in protecting our clients from future tax audits.

 

Personal Taxes

Our will alleviate the annual headache associated with filing your taxes. Whether you're working for a company and filled out a W-2 form or you're working as an independent contractor for a number of businesses, we can help you fill out your taxes properly. Los Angeles is the land of the independent worker, from models, actors, even caterers and construction workers. A number of people in the Greater Los Angeles Area are filling out 1099 forms to report income from "self employment earnings, interest, and dividends." Most people seeking are largely misinformed when it comes all the information needed to include on their 1099. But even taxes for standard W-2 forms can be confusing for the average person. We're here to help with any confusion!

Business Taxes

A mistake in taxes can cost a business a lot of money. That's why our firm is here to handle your business taxes, so you can handle your business. We're not just any we're friendly and reliable with an unmatched knowledge of taxes in the industry. That's why small businesses have been coming to us in hopes that we can sort out all of their tax information and forms. The biggest concern small companies have when they are looking for is how to minimize taxes and the best way to avoid or deal with audits. That's why we offer tax planning, tax problems, and tax audits to help you sift through your business' taxes.

Tax Planning

Tax planning in the San Fernando Valley and Greater Los Angeles area has been made easier at CPS Tax Professionals. We provide tax planning in Los Angeles and everywhere throughout the United States for individuals and businesses. Our built-in financial software can eliminate errors and provide complete accuracy in all of your calculations. As a result you'll save time, save money, and always have current financial information at your fingertips. In and out of the San Fernando Valley and Greater Los Angeles area, tax planning is a difficult task for anyone.

Think of tax planning as a financial compass and our business as trying to point you north. If conditions change, you'll have real-time analysis of multiple scenarios and their impact on cash-flow, profitability, and headcount.

Tax Problems

If you’re facing tax problems, you know how hard, and stressful, they can be. When you deal with the IRS, the FTB (Franchise Tax Board), the BOE (Board of Equalization), or the Employment Development Department, you’re up against an opponent that has massive resources and no mercy.

Some people think they can’t win and simply give up, hoping their tax problems will just go away, but by doing that, tax agencies can add penalties and interest on a daily basis. Once the collection process starts, it’s a process that can literally seep into every aspect of your life and work. An IRS tax lien can also be a black mark on your credit report, making it virtually impossible to secure a loan. Our team of financial advisors can provide you with the knowledge and support to help you overcome these obstacles.

While tax problems are serious, they’re not insurmountable. By contacting our team of financial advisors today, you’ll gain a valuable and experienced ally that can help get your life back on track.

Some of the various tax problems we resolve through our tax services are:

Release levies

  • In order to recover money, the government can choose to garnish your wages. But in taking what you’ve earned, you might not have enough to support yourself and your family. We can help to remove these onerous levies.

Release liens

  • A lien is a means for the government to recover money by seizing property and financial accounts. It also acts as an obstacle towards getting or refinancing a loan, or obtaining a credit card. We can protect what you’ve worked hard to earn.

Offer in compromise

  • This allows you to settle your tax debt for less than the full amount you owe. This is a legitimate option if you either can’t pay your full tax liability or doing so creates a financial hardship.

Penalty abatement

  • This is a way to have your taxes or the interest upon your taxes changed or reduced.

Payroll taxes

  • If payroll taxes are delinquent or withheld, you can face financial penalties, civil or criminal sanctions, further jeopardizing your business.

Unfiled tax returns

Innocent spouse rules

The IRS can attempt to collect taxes from you that your spouse or former spouse owes. We know that’s unfair, and we will fight for you.

Bookkeeping & Accounting

Professional Accounting Services with a Smile 

 

There’s no doubt that accounting is the backbone of business, which is why we provide excellent accounting services for any business. Without business accounting services that are accurate and timely, it’s nearly impossible to manage your business effectively. In fact, one of the biggest dangers faced by small and up-and-coming businesses is poor reporting and accounting. It can seem too costly and time-consuming, but with the right partner, it can make all the difference in the success of your business.

Competitive Bookkeeping and Accounting Services

 

At CPS Tax Professionals, our financial advisors and accountants are able to solve these problems. We understand a lot of the issues that face small and growing businesses. That’s why we’ve got a wide menu of services that allow you to manage your business, and do so at a rate that’s low and competitive.

Aside from the variety of bookkeeping services that we offer, we’re also happy to handle all of your company’s tax filing and planning needs. Take the steps to make your business successful when you trust CPS Tax Professionals with your finances.

We provide the following bookkeeping and accounting services:

  • Accounts payable - Vendor invoice tracking and bill payment

  • Accounts receivable - Customer invoice billing and collection

  • Payroll processing - Including direct deposits, federal and state payroll tax filing and federal and state payroll tax deposits.

  • Reconciliation of bank and credit card statements.

  • Provide support for an in-house bookkeeper, review coding of accounts and make re-classifications if necessary.

  • Track fixed and intangible assets, and prepare depreciation or amortization schedules.

  • Reconcile all accounts from the supporting audit schedule, statements, and to the General Ledger.

  • Create financial reports, such as profit and loss (income) statements, balance sheet statements and cash flow statements.

Business Entity Formation

Entity formation can be a huge concept for any small business. There are numerous decisions to be made and details to be examined. One of those is the decision to either incorporate your business or form a limited liability company (LLC). So pointing your business in the right direction is one of the first steps.

But there's a huge problem: there’s a blizzard of information, from the media, entertainment sources, and advertisements, out there. They’ll praise the virtues of formal incorporation or other similar entity formation ideas that limits the personal liability of an owner and provides tax advantages. But since every business is different, how do you know if it’s the right choice for you? That’s where we come in.

At CPS Tax Professionals, we help our clients sift through all of the complicated forms of partnerships, incorporation and LLC’s. We’ll go over the pros and cons of each, and determine which option is best for you. For many start-ups and existing companies, the sole proprietorship or general partnership might be the superior business entity. Whatever the case is for you, we’ll provide you with enough information to allow you to make an informed decision for your business' entity formation.

Your initial consultation is absolutely free, and it includes a thorough discussion of your options. For most incorporations and LLC’s, we charge a flat rate. More complicated situations require more attorney time, and in these situations an hourly fee is billed. However formation of most types of entities including Corporations, S-Corporations, LLC's, Partnerships have a low fixed fee. Keep in mind that DBA (Doing Business As) Registration and EIN (Employer Identification Number) Registration costs are low as well.

<H2> Our Services Include</H2>

  • C Corporation

  • S Corporation

  • Professional Corporation

  • Limited Liability Company (LLC)

  • Limited Liability Partnership (LLP)

  • Limited Partnership

  • General Partnership

  • Joint Venture

  • Non-profit Corporation

Allow for our team of professionals to help you with determining which legal plan is best for you, and from there work with you to form, set up and operate your LLC, incorporation or partnership from there on.

STAY INFORMED

© 2023 by C P S . TAX.PROS

TEL: 818.564.9384