We at Peterson NW CPA strive to create a partnership with you whether you are just starting your business, growing or maintaining your business or starting to wind down to enjoy your retirement. Effective planning and a hands on approach allow us to be more effective in helping you achieve your goals. We provide the following services to support you in your business so you can focus on what you do best!
Accounting
Welcome to the Accounting team… where everyone counts! Our professional accounting team will analyze your financial records to assist in assuring accurate reports on assets, liabilities, equity, income and expenses. Our goal is to assist you in having an accounting system that is efficient, accurate and meaningful for running a successful business and tax planning. Our team can assist with the initial setup or an established system.
Bookkeeping
Our team can record your financial transactions and maintain correct and up-to-date records so that you can make accurate business decisions. Professional Bookkeeping Services included input of invoices, bills, bank and credit card transactions, reconciliations of bank, credit card and loan accounts. Exceptional bookkeeping leads to exceptional business management and growth.
Business Taxes
There are a number of federal, state and local tax reports that a business must file and pay in order to stay in compliance with the various governmental agencies. Our team includes two Certified Professional Accountants for all your business tax needs.
- Preparation of your quarterly Federal Payroll Tax, State Unemployment and Labor & Industry reports.
- Preparation of your Washington State Business and Occupational Tax to report your gross income and sales tax collected on a monthly, quarterly and annual basis.
- Preparation of your annual Personal Property Tax, which is the county tax that is based upon the value of your taxable personal property such as office furniture, computer equipment, tools…
- Preparation of your Washington State & County Gaming Tax, the tax that you pay based from your gross gambling receipts.
- Our professional services team will prepare the reports in all the states that you do business, using the most up-to-date technology.
Payroll
Whether you have 1 or multiple employees our team will set up your payroll system based on your needs. Pay your employees weekly, monthly, bi-monthly, hourly, salary, or commissions – our team will calculate the federal and state taxes and provide either employee pay-stubs or actual paychecks. Our team will help you maintain and calculate any payroll deductions such as garnishments, health insurance, retirement contributions.
We also help in the setup paperwork required for new employees, annually for current employees, or records needed to be maintained to meet requirements for employees or prevailing wages.
QuickBooks™
QuickBooks™ is the accounting system that many small business owners use to maintain their company’s financial transactions. We offer QuickBooks™ professional services to set up a file or assist you in maintaining your current file, Online or Desktop. Our professional team can update your working copy or we can provide you with journal entries so that you can continue to work without interruption. For your convenience, a team member can come to your office or utilize remote access if available.
Research
Our professional team will examine, collect, and interpret data or information requested by you. Financial information changes often and we have access to tax law, state law, payroll law, retirement rules, and other financial information you may have questions about.
Income Taxes
Filing and resolving issues related to individual, estate, or business taxes. To help with tax planning throughout the year to ensure accurate decisions regarding estimated tax payments, where to pull income for college, home improvements, and retirement for least tax impact.
Our team can also help you decide how much to put away into a retirement account and any other issues related to taxes.
IRS & Other Tax Agencies
Our team can assist you with audits, notices, and questions from various taxing agencies, including correspondence and phone calls to these agencies.
Tax Planning
Customized individual or business guidance to ensure tax efficiency by analyzing financial situations and plan from a tax perspective. Tax planning assembles all financial elements into the most tax efficient manner possible, by the reducing tax liability and maximizing the ability to contribute to future retirement options.
Consulting
Business, Estate, and Personal consultation that encompasses all accounting and tax aspects to ensure you do not miss any opportunities. Our team is your source for professional consulting.
Estate & Trust
Every estate planning situation is different. Our professional team will get to know you, your unique situation and the nature of your relationships, offering discussion, recommendations and useful research tools to make your planning simple, efficient, and worry-free. Available throughout the process for further discussion regarding questions, change of circumstances, and alternatives. Our team will set up and maintain the accounting that you can submit to the courts and prepare your annual US Income Tax Return for Estates and Trusts.
Gift Tax
When you gift more than the annual exclusion to any one person in a year our team will prepare your US Gift Tax Return.
Nonprofit
There are various entities that are exempt from Federal Income Taxes including churches, school PTA and organized sport groups. Our team will assist you in setting up your accounting system to maintain accurate records of your income and expenses. The IRS uses very specific revenue and expense classifications to determine if your organization will retain its tax-exempt status. It is imperative that the accounting system is built around these revenue and expense classifications. Our team help define these and file all state required forms and prepare your Federal Return of Organization Exempt from Income Tax.