Stropes Accounting
Services
Business Startup and setup
Starting a successful business of any size requires the proper setup from the beginning in order for the company to be successful. We will provide you with advice on what type of entity will be the most advantageous for your specific situation. We can discuss the costs, filing requirements and tax implications of the various entities. The decision to become an LLC, Corporation or Partnership has a wide range of aspects to take into consideration. We also specialize in determining a QuickBooks setup that will be specifically designed to fit your company’s procedures.
Along with setting up the structure of your business we will assist you in filing with the different government agencies to setup your FEIN, Payroll Tax Account Numbers, Sales Tax Account Number and any other required tax account numbers.
Business Start-up
Sole Proprietorships (Sch C)
Partnerships (1065)
Corporations (1120)
Sub Chapter S Corp (1120S)
Limited Liability Company (LLC)
Setup all Required ID Numbers
Federal Identification Numbers
State Withholding Numbers
BOI Reporting with FinCEN
State Unemployment ID
Sales Tax Permits
Business Services
Stropes Accounting provides a wide range of accounting services for small to medium sized businesses. We can customize procedures and schedule around the specific needs of your individual business situation. Our business services can be provided on a daily to annual basis, or anywhere in between. We provide professional accounting services sparing you the expense of maintaining a full time expert on your staff. Our range of services includes bookkeeping, payroll and controller duties through preparation of financial statement and business tax returns.
- Payroll Services
- Weekly, bi-weekly, semi-monthly or monthly payroll services
- Provide employee forms to set up new employees
- Calculate all payroll taxes for employees and employer
- Direct deposit or computer printed checks with paystubs provided
- Employer provides rate and hours by email or text. We take care of the rest
- Payroll Tax Return Preparation is included
- Flat rate billing provided. No extra costs for quarterly or year-end filings
- Payroll Tax Return Preparation
- Provide monthly, quarterly, and annual payroll tax deposits and returns as required;
- Federal – 941s (quarterly) and 940 (annual)
- WI – WT-6s (varies by company), WT-7 (annual) and UC-101 UI (quarterly)
- IL – 941IL (quarterly), UI-3/40 (quarterly)
- Social Security – W3/W2 filings to SS, state DOR and employees
- Other state filings determined on a case-by-case basis
- Discuss a procedure for keeping payroll taxes separate for ease of cash management
- Provide standard reports and customized reports based on client needs
- Assist with annual workers compensation audit
- Provide monthly, quarterly, and annual payroll tax deposits and returns as required;
- Record all banking transactions from checking, savings, credit cards, lines of credit, and loans
- Classify transactions to appropriate accounts (based on client input)
- Reconcile all business accounts to ensure every debit and credit is accounted for
- Draft financial statements can be requested as needed for bank loans or other needs
- Provide tax-basis P&L and Balance Sheet for tax returns (Financial statements are not reviewed or audited. We do not express and opinion on the financials)
- Reporting is done on a monthly or quarterly basis. We will make adjustments to the books for interest, depreciation, and will reclassify any unknown transactions and provide these reports for your review. Reports are customized by business type and/or industry
- Reporting is the best way to see the health of your business on a regular basis
- Prepare WI and IL (other states as agreed) sales tax returns
- Work with clients to develop a procedure to gather necessary information for sales tax
- S-Corp reasonable compensation reports – Helps client determine the reasonable compensation for S-Corp shareholders to meet “reasonable wage” requirements
- 1099 Annual Reporting (NEC, MISC, INT, DIV, other)
- Secretary of State and Dept of Financial Institutions annual reporting for INC or LCC
- BOI Reporting to FinCEN (Financial Crimes Unit)
- TIN matching services
- Tax Resolution (Business and Personal)
- Represent taxpayer and coordinate with IRS Revenue Officer to file returns and discuss payment plans or other options.
- Representation can be for business income, payroll tax issues, or personal
- Our firm has business clients in a wide range of industries;
- Construction
- Landscaping services
- Trade services
- Auto repair
- Cosmetologists
- Salons
- Tattoo artists
- Personal fitness trainers
- Manufacturing
- Product sales
- Retail sales
- Ecommerce sales
- Consulting services
- Financial planning and management
- Legal offices
- Medical offices
- Therapy services
- Insurance sales
- Real estate sales
- Rental property
- Home care facilities
- Fast food restaurants
- Dine-in restaurants, catering, and taverns
Individual Tax Services
Stropes Accounting works with individuals in all tax situations. Our clients range in income, age, and tax complexities. Our firm has a full-time staff that provides tax advice and planning to clients all year-round.
Individual Tax Preparation – Tax Planning Services – Rental and Investment Properties – Independent Contractor (1099-NEC) – Tax Resolution – Retirement Tax Strategies – Personal Financial Statements – Bank Loan Requirements
Secure Server Upload (Canopy)
Our clients are given access to our secure file share portal (Canopy). When your return is complete you will get a phone call to go over the results of your return and answer any questions you have. We send your completed return through a secure email with the ability to sign and pay electronically.
Drop Off or 24hr Drop Box
Clients are welcome to stop in during office hours or use our secure drop box outside of office hours. When the return is complete you will get a phone call to go over the results of your return and answer any questions you have. You can then choose to sign and pay in-person or electronically. We recommend in-person pick up for clients who provided us with their original tax documents, as electronic completion will require arrangements for the return of original tax documents.
In Office Appointment
Call our office to schedule your tax preparation appointment. Tax season appointments are available February through March. Most clients leave their appointment with a completed and ready to E-File return. We recommend reserving your appointment early, as tax season appointments fill up fast! Although we always welcome new tax season clients, appointment availability for new clients is limited. Larger and more complex returns may require pre-appointment planning.