Financial Statements
Well-prepared statements are a useful and essential tool for managing your business and making financial decisions.
Business Management Reports
Byrne | Zizzi develops monthly reports that highlight the key indicators in your business.
Financial Projections
Forecasting is a necessity when trying to effectively manage and lead a business to profitability.
Calculation of Fixed Assets and Depreciation
Fixed assets are physical pieces of property that a business owns, and they play a part in the production of the business’s income. Depreciation refers to the loss of value in these assets over time.
Accounting System Setup Assistance
Byrne | Zizzi CPA offers assistance in setting up the system a business uses to record, gather, classify, analyze, summarize and interpret its financial data.
Computerized Payroll Services
Computerized Payroll Services is a system that automatically calculates and produces printed paychecks for a business’s employees.
Direct Deposit
Direct Deposit is the electronic transfer of payment from a business to its employees.
Payroll Processing
Payroll processing involves the recording of the amount of time an employee has worked over a pay period, calculation of pay and the disbursement of payment after necessary adjustments.
New Hire Reporting
New Hire Reporting is an essential business function that involves reporting information of a new hire to the designated state agency.
Payroll Tax Reporting
The Byrne Zizzi staff will handle all necessary tax reporting on payroll, including Form 941, state and unemployment reporting.
1099 Preparation
1099 Preparation is an essential tax filing for any business reporting all non-employee compensation.
W-2 Preparation
The IRS requires all employers to report wage and salary information for their employees through a W-2 form. Preparation of tax forms is tedious and time-consuming.
401(k) Calculations and Submissions
401(k) Calculations and Submissions depend upon the plan a business has set up. A percentage of an employee’s paycheck can be contributed to a 401(k). This amount is usually taken before or after tax, depending on the employer’s plan.
Bonus Calculations
A business can award bonuses to employees as additional compensation to their set wage or salary.
Workers’ Compensation Audit
Workers’ Compensation Audits are used by insurance companies to determine how much to charge a business in premiums.
Affordable Care Act Annual Insurance Reporting
The Affordable Care Act requires all entities that provide minimum essential coverage to individuals to file an Annual Report.
QuickBooks Software Support
QuickBooks Software Support is available to help any business further understand and troubleshoot any problems encountered using this software.
Peachtree Software Support
Peachtree Software Support is available to help any business further understand and troubleshoot any problems encountered using this software.
EasyACCT Software Support
EasyACCT Software Support is available to help any business further understand and troubleshoot any problems encountered using this software.
Initial Setup and Implementation Assistance
Initial Setup and Implementation Assistance is available to help your business get started using various software programs.
Transaction Overview
A Transaction Overview is a summary of the recorded events that affect the finances of a business.
Corporate Tax Returns
Corporate Tax Returns are given when domestic corporations file an 1120 form reporting their income, gains, losses, deductions, credits and income tax liability.
Partnership Tax Returns
Partnerships are not required to pay tax on their profits. Partnerships are entities that report income, deductions, credits and any additional, applicable information to partners and they enter their share of this info on personal tax returns.
Charity and Nonprofit Returns
Charities and Nonprofits must report their activities regardless of income tax exemption.
Gift Tax Returns
A Gift Tax Return is given when a Form 709 is submitted to the IRS. Even if a gift tax is not owed, a return is required.
Tax Planning for Buying and Selling Businesses
Tax Planning for buying and selling businesses can be a meticulous task, and Byrne | Zizzi CPA has the professionals equipped with the tools to help you plan as efficiently as possible.
Tax Credits
A Tax Credit allows a taxpayer to subtract a certain amount of money from the tax they owe to the government. Certain tax credits are given to businesses in specific locations, classifications or industries.
Amending Prior Year Returns
An Amended Return can be used to make any necessary corrections to a business’s previous tax return.
Business Entity Selection
Making a Business Entity Selection is a complex decision. Byrne | Zizzi CPA can help evaluate your options and advise you on the most beneficial path to take.
Income and Franchise Tax
A company’s profit (net worth) is subjected to corporate income tax. However, only corporations are required to pay this tax. Sole proprietorships, partnerships and limited liability companies don’t pay income tax but may be liable for state taxes. Any company must pay for the privilege of doing business in a certain state or city.
Tax Elections
A Tax Election is a choice a taxpayer makes that will determine how a particular circumstance will be treated.
Sales and Use Tax
Sales Tax is included on all retail transactions. Use Tax is enforced tax on consumers for tangible personal property that is used, consumed or stored in this state.
Privilege License
A Privilege License is required for every person, firm, company or corporation involved in any business, vocation, occupation or profession.
Business License
A Business License is a permit that gives a citizen the right to operate a business in a particular city or jurisdiction.
Secretary of State Annual Reports
All limited liability companies and corporations are required to file an Annual Report with the Secretary of State.
Multi-State Planning
Multi-State Planning involves selling a private health insurance plan through the Marketplace under contract between the U.S. Office of Personnel Management and an insurance company.
Tax Credits
A Tax Credit allows a taxpayer to subtract a certain amount of money from the tax that they owe to the government. Certain tax credits are given to businesses in specific locations, classfications or industries.
IRS & IRS Audits
Internal Revenue Service
State Audits
A State Audit is an examination of all financial records to verify accuracy and check for fraud.
Offer in Compromise
Delinquent Tax Returns & Penalty Abatement
Penalty Abatement is granted by the IRS, allowing a person or company a reduction of taxation. An abatement can include a tax decrease, reduction in penalties or rebate.
IRS Payment Plans & Installment Agreements
If someone is unable to pay taxes owed, he/she may qualify for an IRS Payment Plan. The plan may include an Installment Agreement that gives a person the ability to pay taxes owed over time while avoiding legal repercussions.
Payroll Tax
Payroll Tax usually falls under two categories, including deductions from an employee’s wages and taxes paid by the employer, based on employee’s wages.
IRS Bank Levies
IRS bank levies authorize the confiscation of a person’s property to satisfy a tax debt. Examples of levies include bank garnishments, the selling of vehicle(s), real estate property and any other personal property.
IRS Tax Liens
An IRS Tax Lien is put on property to secure tax payment. The lien can be imposed to ensure payment of delinquent taxes owed on real property or personal property or for failure to pay income taxes or other taxes.
Innocent Spouse Relief
Three types of tax liability relief exist. This relief is for spouses or former spouses who filed joint income tax returns. The three types are Innocent Spouse Relief, separation liability and equitable relief.
State Tax Issues
Unemployment Tax
Unemployment Tax is implemented under the Federal Unemployment Tax Act. The act requires all businesses to pay a tax for the purpose of collecting revenue that can be allocated to state unemployment agencies and paid to unemployed workers who are eligible to make that claim.
Business Entity Selection
Business entity selection is a legal determination that will which legal and tax structures a business will operate under.
Business Succession Planning
Succession Planning helps a business identify and develop existing employees who have the potential to fill leadership positions.
Buying and Selling a Business
Buying and Selling a Business can be a stressful and meticulous process. The Byrne | Zizzi team is equipped to advise you through the process with efficiency and ease.
Management Advisory Feedback
Management Advisory Feedback provides businesses with expert advice on an entity’s organization, personnel, finances, operations, systems and other business activities.
Mergers and Acquisitions
Mergers and acquisitions involves strategizing the purchase of and/or joining with other businesses. A merger usually involves two businesses joining together to establish a new business, typically with a new name.
Budget Creation
Budget Creation is an essential part of business planning. The creation of a well-planned budget can alleviate potential pitfalls of poor planning.
Cash & Working Capital Management
Cash/Working Capital Management is a strategy that helps maintain efficient levels of current assets and liabilities.
Accelerated Depreciation for Real Estate
Cost Segregation
Cost Segregation involves identifying a business’s assets and costs, then classifying those assets for federal tax purposes.
Profitability Consulting
Profitability Consulting can help a business determine its ability to earn a profit. It also helps to evaluate what potential profit will be left of the revenue after all expenses have been paid.
Overhead Analysis
An Overhead Analysis gives a business insight into all ongoing expenses regarding direct labor, materials or third-party expenses billed directly to customers.
Business Planning
Business planning consists of establishing clear goals, how they are attainable and the plans to reach them. A team overview may also be included.
Buy/Sell Agreements
A buy-sell agreement legally binds co-owners of a business that will direct any situation involving a co-owner dying, forced to leave the business or chooses to leave.
Charitable Contributions of Closely Held Stock
Divorce & Marital Dissolution
Divorce involves “fault grounds” or one partner alleging the other has been at fault under a statutory ground. In a marital dissolution, fault grounds are not an issue. Dissolution does not require filing a petition until the parties agreed on all issues that must be addressed in a divorce matter.
Economic Market Studies
Financial and Feasibility Studies
Financial and Feasibility Studies allow a business to estimate if a project is feasible given the profit projections and total cost.
Gift and Estate Planning
Gift Planning allows philanthropists or donors to make large contributions to organizations without minimizing the gift’s impact. Estate Planning is preparing the allocation of a person’s wealth and assets after death.
Mergers and Acquisitions
During a merger, two different entities consolidate and become a new business. An acquisition involves one business taking over another.
Shareholder Disputes
Shareholder Disputes can occur when one or more shareholders want to end the shareholder relationship, a disagreement regarding the actions take by a majority shareholders or a minority shareholder alleging actions taken by controlling shareholder have been fradulent, illegal or oppressive.
Dental Healthcare Practice Professionals
Byrne | Zizzi’s staff has experience working with dental professionals to protect and grow their practices financially.
Other Healthcare Practice Professionals
Byrne | Zizzi’s experienced staff lends its focused attention and experience to help healthcare professionals manage the financial aspects of their practices.
Integrated Companies and Reporting Entities
Successful business people and families often build assets and business operations, and they have or need multiple entities and legal structures to house and protect…