Strategic Partners for Your Unique Tax and Accounting Needs

Tax Preparation & Planning

Tax Preparation and Planning go hand-in-hand, and this is where your unique needs as a business owner and individual are always accounted for. We provide the necessary preparation, planning and advisory services for your specific needs instead of a blanket, one-size-fits-all approach to taxes. Time and time again, we have found that there’s no substitute for that personal touch when it comes to a client’s tax preparation and planning.

Tax preparation can often result in significant tax benefits for you and your business, not only in the current year but for years to come.

Being prepared is what helps your business weather storms; whether on the horizon or still brewing. This is where the staff at Frahm & Associates CPAs takes the time on a regular basis to meet one-on-one with clients to better understand your needs; including any changes that have occurred since we last met.

Taking this time ensures that our professional team is current with the various aspects of your accounting and taxes, plus it gives YOU time to ask questions.

We provide current and customized tools for our clients to maintain the best records possible. Not only does this help you maximize your deductions; it also provides a powerful line of defense so that your return should withstand any potential audit.

Let us help you eliminate the guesswork when it comes to tax preparation and planning…. Contact Us to get started.

Tax Audit Defense

If/when the time ever comes that our clients are contacted by any taxing agency, we don’t feel they should stand alone when it comes to an audit or request for information.

We are always happy to handle an audit on a client’s behalf even if the return was prepared by another firm. With our experience, we know what auditors are looking for, allowing us to take away the guesswork by lining up any and all documentation that is requested. Our goal is to prepare an organized and complete presentation, making the audit process go as smooth as possible for both our client and the auditor.

Tax Planning

We are here for our clients as needed throughout the year, but the most important time to talk about planning is as the end of the year approaches. In November and December, we contact our clients to review projections, eliminate surprises and allow for ample time to make any adjustments needed. Tax planning also includes entity planning for Partnerships, Limited Liability Companies, S Corporations & C Corporations. If you own a business, tax planning could be beneficial for you; just like it has for many of our clients over the years. For corporate officers, wage planning may be one of the most overlooked items when it comes to self-employment and payroll tax savings, appropriate compensation, and income tax withholding.

Non-Profits

Running or overseeing a non-profit organization can be a daunting, yet very rewarding task. At Frahm & Associates, CPAs we understand this, plus the ins/outs and complexities of doing so while staying compliant with all levels of government. Over the years, we have helped non-profit organizations in the following ways:

• Assist with applications/reinstatement for Tax Exempt status
• Preparation and filing for 990 tax returns
• Compliance with State & Federal Regulations
• Conception to Realization (non-profit startup planning)

If you have questions about starting a non-profit or you currently run one and need help with any of the above, Contact Us to find out how we can help you and your organization.

Estates, Trusts, Gifts

When it comes to handling estates, trusts and gifts, the staff at Frahm & Associates CPAs understands the complexity that these tax planning vessels involve. Our job is to guide you through the process as simply as possible. While estates often bring another level of difficulty and stress, all of these areas are unfamiliar to most people. From a one-time estate settlement to ongoing tax implications of trusts and gifts, our staff will make sure all your bases are covered concerning these specific areas:

• Preparation of returns: 1040s, 1041s, and estate returns
• Estate Tax Questions and Reporting
• Asset Reviews
• Communication & Planning with Investment Advisors and Attorneys
• Gift Planning & Reporting

If you have questions about starting a non-profit or you currently run one and need help with any of the above, Contact Us to find out how we can help you and your organization.

Tax Planning

Frahm & Associates CPAs works with clients in many states. Our staff has years of experience working with personal and business multi-state returns. Every jurisdiction does things differently; this is why our clients rely on us to pay attention to the details and understand the rules, especially when it comes to filing returns involving partial year residency or apportionment.

Bookkeeping, Payroll and Sales Tax

A well-kept set of books is one of the best ways for a small business to stay organized and profitable. There are many benefits to keeping your books up-to-date and organized, and it can be accomplished in-house or by utilizing a seasoned bookkeeping professional.

All the pieces of your bookkeeping puzzle are important and necessary to operate your small business: from banking, inventory, payroll, and various tax reporting, to tracking of loans and credit cards. The kind of accounting we offer can also help you take advantage of opportunities, plan your growth, and manage your tax load. If this is what you want for your business, we have a lot to talk about.

Bookkeeping

• We gladly work with whatever method you find easiest to maintain, including industry specific software and point-of-sale systems. We also go to school on what you need – everything from on-site services to specific reporting periods. The outcome is a collaboration that matches your way of doing things with our ability to get things done. Better yet, you decide how to put us to work on your team.
• Do it all yourself. The popularity of Quickbooks and the advanced training available to entrepreneurs has enabled many to do 90% of their accounting themselves. If you are doing your own books, get the most from your software with a TOTAL CARE review of your accounting on a regular basis – a smart move that eliminates surprises at the end of the year. New to business? WE can help set up your software for optimal bookkeeping from day one.
• You do some. We do the rest. Not everyone wants to pay for full-service data entry, and not everyone needs it. Then again, if there are elements of bookkeeping that drive you to procrastination, we can help by sharing the load and ensuring complete, consistent data for informed decision-making down the road.
• Or leave it all to us. If the work of keeping records up-to-date is stealing time from running your business, consider the freedom of partnering with us to do the books for you. In fact, we believe so strongly in the power of accounting to improve your business decisions that we make our company partners available to you for the same price as staff accountants. Our commitment: affordable, accessible help on your terms.

Payroll and Tax Reporting

Are you tired of dealing with payroll headaches, along with the continuing changes in state and federal regulations? Our staff works with many different small businesses on a regular basis to take care of their payroll and the required payment and reporting of taxes. That way you don’t have to worry about missing documentation, garnishments, regulatory changes and last minute surprises. Our clients take comfort in knowing that we are handling the deadlines that come with having payroll.

Excise Taxes

When it comes to the complicated world of excise taxes, otherwise known as sales tax and B&O tax, the staff at Frahm & Associates, CPAs brings years of experience to the table. From simple questions about current filing procedures to filling out monthly, quarterly, and annual reports, our team helps you and your staff get the information you need, or we simply do the work for you. It’s your choice.

Consulting Services

On a daily basis we work side-by-side with business owners in many industries. This provides us with a breadth of background experience that we are frequently able to combine with a familiarity with your business and an outside perspective to offer an assortment of management solutions. Some of the business consulting services we provide are:

• Business Start Ups – Starting a new business and don’t know where to begin? We offer guidance through the process of planning your business, setting up legal entities, and licensing/filing requirements.
• Strategic & Succession Planning – The way that you transfer ownership, sell a business, purchase a business, or even just close one down can have big implications on your taxes and your wallet. Our team is here to help you navigate the complex highway of business strategy and transition.
• Forecasts / Projections / Budgets – Looking for financing or contemplating a large purchasing decision? A forecast, projection or budget may be just what you need to finalize a decision and take the next step to a more profitable venture.
• Business Systems Design & Implementation – Your business should be doing what you love and enjoy, not worrying about how to manage things in the office. We can help you simplify daily processes or implement necessary controls, so you can get back to business.
• Financial Statement Analysis – Having profitability issues? Many people know how to put information into the records, and how to print a financial statement; but don’t know how to USE their financial statements or tax returns to read the story behind the numbers. Let us teach you how to use those reports to make proactive decisions.
• Accounting Information Systems – Software research, implementations, conversions, systems customization, and training available on request.
• Management Advisory Services – We receive a wide variety of questions and encounter many scenarios. Use our experience and contacts to your advantage. If we can’t help with your situation, chances are really good that we know someone who can!

Training & Education

Tired of wondering what those numbers on your tax return mean? How do you maximize your deductions? Is record-keeping a mystery?

Our philosophy is “We know the rules; we follow the rules. We teach the rules. We have fun every day.” We WANT you to be empowered to make informed financial decisions, while saving time and money. Our ongoing training and education may be just what you need to take the next step.

Every business has tools that they use for success. We are no exception – let us share our tools with you. Five tools you can access when you work with us are:

• Detailed Explanation of your taxes or financial statements so you can USE the information to grow your business or improve your financial situation
• Software Training customized for your particular needs
• Certified QuickBooks Advisor on staff
• Materials & Tool Sets for your particular situation to help you maximize deductions (ex. Expense sheets, mileage logs, home office worksheets)
• Dedicated Answer Line – No charge for phone consultations under 15 minutes. We’d rather hear from you than have you worry about being nickeled and dimed to death. We WANT to hear from you throughout the year!