Personal & Business Accounting Services

Proudly Serving Livonia, MI & Beyond Since 1985

Accountax, Inc. is a family owned and operated accounting firm in Livonia, MI. For over 30 years, we have provided individuals and businesses throughout the Metro Detroit area with the highest quality tax, accounting, financial, and consulting services. Throughout the years, we have developed a reputation for reliable, valuable, and personalized support and services. It is our goal and mission to develop long lasting, beneficial relationships with each client.


The wisdom you need, the service you deserve.


Personal Tax Preparation

When you choose Accountax Inc. to file your individual tax returns, you can trust we will work efficiently and effectively. Our team works to be an advocate for every client.

We are happy to answer any questions you have about the process and educate you on any upcoming changes. In addition, we will take the time to learn about the nuances of your personal tax situation to assure that you receiving all the benefits that you are eligible for.

Business Tax Preparation

Today’s tax laws are complicated and ever changing from year to year. For any business owner, this can make filing the simplest of returns into a confusing endeavor.

Our team stays current on the latest updates to state and federal tax laws and codes. We prepare tax returns for all types of businesses including sole proprietors, partnerships, limited liability companies and corporations. We can also handle multi-state taxes for businesses with locations/employees in more than one state. If you are struggling with preparing your tax returns, you can count on us to help you successfully navigate the complex world of tax preparations.

Bookkeeping/ Accounting

It doesn’t matter if you are managing your personal finances or managing a business, maintaining accurate, well-organized financial records is important for your financial success and security.

Our CPA provides comprehensive bookkeeping/accounting services and will help you keep track of your financial transactions. We want to help your business run smoothly and efficiently. We’ll keep your books organized and accurate, deliver useful financial reports, and implement tax planning strategies to minimize your tax burden.

Each month or quarter we’ll do the following things for you…

• Reconcile your bank account
• Generate an income statement
• Generate a balance sheet
• Clean up your general ledger
• Provide unlimited consultations

These tasks form the solid foundation of your small business accounting system. You can customize the package of services you receive by adding payroll, tax planning, tax preparation, or any of our other services.

Payroll

Payroll management can be a difficult process for many business owners. Our firm understands the many regulations and laws governing payroll management and can help you manage this essential process for your business.

Our mission is to help you prepare and maintain your payroll so your business stays on track. Below please find some of the services that we offer:

• Weekly, bi-weekly or monthly payroll processing
• Direct deposits
• Federal and State payroll tax filings
• Comprehensive payroll reporting
• Worker’s compensation audits
• Weekly or monthly accounting summaries
• Preparation of W-2s and W-3s
• Preparation of 1099s

Business Formations

Starting a new business is exciting, but it is imperative to meet with a financial professional to ensure you choose the right entity to fit you and your company’s current and long term needs.

By selecting the wrong structure when forming your business, a significant portion of your profits could be lost to taxes. We will advise you on the different forms of ownership and the related tax implications.

Business Planning & Consultations

A critical part of growing your business is tax and business planning. We will evaluate your current tax and financial situation and help you identify your current strengths and weaknesses.

Whether you are looking to sell your business, obtain financing for future projects, or just want a consultation to evaluate the financial health of your company, we are here and ready to help. Together, we will develop a plan to help you create a secure and strong financial future for yourself, your business and its employees.

Medicare Cost Report for Home Health Care & Hospice Companies

Preparing a Medicare cost report can be a time-consuming, complex endeavor, as the legal requirements are always changing.

We have the skill and experience to help you successfully file these reports. Our goal is to make the process as efficient, accurate, and cost-effective as possible. In addition, we want to help you achieve peace of mind knowing your cost report is filed correctly as they are a vital part of owning a Home Health Care or Hospice business.

IRS / State Representation

Professional representation can be essential during an audit, and our experience with taxing authorities allows us to guide our clients during what could be a stressful time.

If you have been chosen for an audit, the professional representation you can find with our firm can comfort many of the worries you may have. We are ready and willing to answer any and all questions the IRS or State may be asking of you. We can also represent you in matters of installment agreements, penalty abatement, filing old tax returns, IRS/ state audits, offer in compromise, tax liens and payroll tax representation.

QuickBooks Accounting Help and Assistance

QuickBooks accounting software is perfect for small businesses because it allows you to manage all your financial information in one convenient place.

We can help with everything from choosing the appropriate version, installation of the software, company setup, training, operations/ software support and review/ clean-up of the company data. Our QuickBooks review service helps clients that have the human resources to perform daily accounting and payroll tasks, but need an accounting/payroll expert to review your transactions, reconcile bank accounts and fill in any other gaps. This review ensures that the data that you are pulling from your software is accurate. We also inform you of any corrections, adjustments or reclassifications necessary and bring to your attention any fluctuations or necessary actions. Reviews may be done at any duration, but monthly reviews provide you with the most up-to-date information and feedback about your business.

FAQs

Estimated taxes may need to be paid when you have income that is not subject to withholding. In many cases those that are self-employed or have investment income from dividends, capital gains and/or interest are responsible for remitting tax through quarterly estimated payments. 

 

The IRS has guidelines on what would make an individual an employee versus a contractor. There are major differences between what would qualify individuals to be W-2 employees or 1099 contractors and in how their payments are processed. Misclassifying your workers can lead to tax liabilities and penalties. 

 

The structure of your business impacts everything from the type of business tax return you file to the taxes you pay and your liability if someone sues your business. There is no one “right” structure for every business, and the right one for you might change as your business changes. A CPA can provide valuable perspective on whether another structure better suits your long-term growth goals.

IRS and State guidelines change often. CPAs stay up to date on upcoming changes so they can understand how they might impact your business and help you plan accordingly. 

 

A payroll service is usually beneficial for employers who value their time and want to ensure that their employees and taxes are paid accurately and timely.  Processing payroll requires filing tax forms and remitting payment to multiple jurisdictions that often have different due dates. In some cases, busy business owners may save money when they consider that a payroll service provider can help them eliminate costly tax penalties that can result from untimely tax payments and filings.

 

As a new business owner, you will want to engage a CPA to gain an understanding of which taxes you may owe, how they are calculated, and when they are due. Some of the potential taxes one could owe are corporate income tax, personal income tax, payroll taxes, sales tax, use tax, excise tax, self-employment tax, etc. 

We do not specialize in one specific industry. Our focus is small business accounting and tax preparation. We have had the privilege of providing services to various industries, including retail stores, medical clinics, law firms, industrial businesses, restaurants, consultants, childcare/schools, general contractors, real estate professionals, and many more.

We offer a wide range of services including a bookkeeping/accounting service, payroll processing, tax preparation, tax planning/consulting, and assistance with tax compliance for individuals and businesses.

 


For more information about our financial, tax, and accounting services, please contact us (link to contact us page) at 734-422-1888.
We look forward to hearing from you.