Tax Advantaged

Accounting allows for long term tax savings.

Tax Accountants for Small Business

Stop worrying about your books at tax time — we’ll do that for you during the whole year as your dedicated tax accountant for business. We strive to get you Tax Advantaged with every deduction possible and complete account reconciliations with our bookkeeping services.

Also, with our Beyond Beans Bundles, you can rest assured that you’ll no longer be requested to make that accountant copy, upload that file that’s too big for an email, or worry about that list of twenty items from your tax preparer still needed at tax time that you need to forward to your bookkeeper; we have that covered as we do your taxes unless requested otherwise.

Since we are reviewing and preparing monthly financial statements so you can have constant feedback and a pulse on your business performance, we are able to include your progress into our tax planning and modeling while ensuring that our clients file business and individual tax returns on time and accurately.

My business life has been simplified from the moment we migrated our financials to Beyond Beans. We couldn’t have asked for a better service. Only months after starting with the basic package, we found that the greater value was in the CFO Package as they handle the cash flows and tax estimates, in conjunction with with the bookkeeping.

Trisha W.

Jeff Jackson helped us get our books straightened out and file our back taxes for the business and personal returns. We have used Beyond Beans Accounting for years now and since he handles the taxes too, we are able to focus on other things.

John P.

Peterkin Construction LLC

I needed help with our accounting of inventory and little did I know, I also needed to amend the last two years of business and personal returns after they reviewed the prior years returns. We received a large refund for 2019 and have been subscribed with Beyond ever since for quarterly tax projections and just about everything else financially. My personal taxes are synced up with the business stuff and I hardly have to worry about a thing outside of my business doors during the year. I couldn’t recommend them more.

Jennifer L.

Lindwell Fashion Boutique

For year I struggled with the accounting software and filing the returns myself. After contacting Timothy, I found out I wasn’t even filing my taxes correctly and was overpaying in payroll taxes. Tim converted my company to another type of business and I am saving tens of thousands annually while also giving myself time for other things other than struggling with my bookkeeping. My business is growing with my ability to focus on other things as well.

Peter B.

For years, I worked in my family business as the bookkeeper and after inheriting it, I continued this until the company outgrew my ability and I just continued to struggle. After a search online, I found out that I do not have to do everything myself. Beyond Beans has really helped me in forming metrics to focus on and our monthly calls are invaluable and really are quite short. Sometimes I request to skip them as we are really just chugging along and they make everything seem quite automatic, of sorts. God send.

Emily W.

Our restaurants have expanded and since we operate in multiple states now, we learned, late from that our prior CPA wasn’t reporting our activity correctly. After contacting Trina, we were able to organize our reporting better and our reporting is really a weekly report that we get showing what exactly we’re doing.

Javier G.

What People Say

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FAQ

If you want someone to handle complex issues, fight for all possible deductions and credits, completeness, accuracy and compliance then your answer is YES!!!

We all like to look nice, especially for business purposes. But you’re expected to arrive to work fully clothed You can only deduct the cost and upkeep of work clothes and uniforms if you must wear them as a condition of your employment and the clothes are not suitable for everyday wear.

4 years from the date your return is filed
3 years from the date the tax is paid
7 years after the return is filed if income is under reported by more than 25%
Indefinitely, if you failed to file a return or the return is false or fraudulent.

The majority of Americans will be getting a tax cut under the new bill. Couples with children will especially benefit, especially if they live in places with low state taxes. The standard deduction virtually doubles, the child tax credit doubles and tax rates have Declined.

There’s no age limit if your child is “permanently and totally disabled” or meets the qualifying relative test. To claim your child as your dependent, your child must meet either the qualifying child test or the qualifying relative test:

To meet the qualifying child test, your child must be younger than you and either younger than 19 years old or be a “student” younger than 24 years old as of the end of the calendar year.
In addition to meeting the qualifying child or qualifying relative test, your child must also meet all of the other tests to be your dependent:

Dependent taxpayer test
Citizen or resident test, and
Joint return test

NO. That is a common misconception. However due to the increase in the standard deduction you may not want to deduct those items. For example – every taxpayer gets the choice of a standard deduction or an itemized deduction. The standard deduction for a married couple for 2018 is $24,000. The real estate taxes (limited to total state and local taxes of $10,000), mortgage interest and PMI are all itemized deductions. In addition, charitable donations and medical expenses (to the extent medical expenses exceed 7.5% of your income) are all included as itemized deductions. Most taxpayers will be better off simply claiming the standard deduction, as it will exceed the itemized deduction

If you are currently uninsured, then yes. Beginning on Jan. 1, 2014, all U.S. citizens will be required to have health insurance or pay a penalty. The penalty is 2.5% of household income or $695 per adult, $347.50 per child under 18 whichever is higher.

If your family members are truly employees, meaning you direct and control their activities during working hours and they don’t work for anyone else, you need to send them W-2s by January 31 for the preceding year.

You may use different types of documentation beyond paper receipts for certain expenses. Bank statement line items are usually sufficient for gasoline purchases and software subscriptions, for example. For fixed assets, travel expenses and items purchased for the purpose of making your products (i.e., your Cost of Goods sold), you will want to be more diligent in keeping receipts and indicating how the items or services were used in your business.Keeping paper copies is not necessary. You can use an app or your phone’s camera to keep a record of each receipt, then destroy the original copy if you prefer. The IRS rules about records and specific travel, meals and entertainment expenses can seem unwieldy, but business owners often find that if they aren’t carefully tracking their receipts, they miss potential deductions.

It’s a personal expense; however, if you create a private gym within your business location that is open to all employees (and not to the public), the expenses for the facility may be tax deductible.

If you pay for parking, then you deduct the parking expense. If you pay for parking, then add it to the invoice for reimbursement, then you must include that as income. The parking income and expense will offset each other.

Yes. As a general rule, if you offer insurance to one full-time employee, you must provide it for the rest of your full-time employees. The same thing applies with part-time employees.Also, if your entity is an S-Corp and you are a shareholder of greater than 2% of the S-Corp, then the premiums paid on your behalf will be reported on your W-2 as wages, subject to income tax withholding.If your business has 25 or fewer full-time employees and meets other criteria, you may also qualify for the Small Business Health Care Tax Credit, which could help offset as much as 50% of your premium cost.