Running your business is enough to keep you busy. Allow our skilled team to manage all of your difficult bookkeeping tasks, including daily transaction classification and expense tracking, payroll, bill payment and invoicing, business tax planning and preparation, and reporting. We’ll make sure you always have a clear view of your financial situation.
What’s included in bookkeeping?
We can handle all of your difficult and time-consuming payroll chores, such as processing of scheduled payrolls, employee setup, salary changes, payroll filings, W2 and 1099 processing, time tracking and more. Payroll outsourcing is a great way to cut costs. We use RUN Powered by ADP so you can concentrate on managing your business.
Annual Cleanup: Some of our clients wait until the end of the year to enlist our services to enter their data, reconcile and review for accuracy prior to the tax preparation itself. We call these “cleanups” because sometimes we’re going in and entering in as much as 18-months or more of data. We believe that monthly or quarterly is better because at least then the financial statements will be more accurate for decision making purposes.
County BPOL/BPPT Filing: Most businesses in Virginia, Maryland and DC must file annual returns to the county to receive an operating license and maintain in good standing. The two returns that we file the most in these states, even for home-based businesses, are the BPOL and BPPT (personal property) filing. We include this service in our Tier II and Tier III plans, but all clients can add these as a separate service even if we don’t do your bookkeeping or are on a Tier 0 or Tier I plan.
1099 Review and Filing: Every business in the United States must report any Cash or Check payments over $600 to the IRS via form 1099. We will review your books to see who you will have to request W9s for, and file the 1099s on your behalf electronically by the deadline of January 31 every year. Our cost for the annual review is a $25 per filing with a minimum $100 per business. Check out our 1099 page for more information.
Corporate Tax Return: Tired of seeing bookkeeping firms also not prepare your taxes? See our Business Tax Filing page for our pricing tiers since we’ll do your accounting AND file your tax returns so you have one less thing to worry about.
Individual Tax Return: Does your individual tax preparer not do business returns? Does your bookkeeper not do individual taxes? Why go through all the hassle of going to different companies for different services when we can do it all in house. Check out our Individual Tax Filing page for a personalized pricing package just for you.
Workers Comp Audit: We recommend combining your Workers Comp Audit with your payroll provider such as ADP so you don’t have to pay us to complete the filings each year. They are such a pain! However, we do complete these filings as an additional fee if needed.
Beneficial Ownership (BOI) Reporting: Starting in 2024 most LLCs, Corporations, and Partnerships must file a new Beneficial Ownership report (BOI) with FinCen within 90 days of forming your LLC and you must update 30 days after any personal or business information change. Failure to do so can lead to huge penalties – check out out BOI Reporting page for more information including our pricing and some how-to videos if you decide to do it yourself.
Perhaps you don’t need someone every to look at your books – we get it we’re busy too. Perhaps you’ve got QuickBooks Online almost figured out but you don’t have the time or energy to master the software because you’re trying to run your business. Don’t worry – we have many clients where we are only need quarterly. We provide our core bookkeeping services quarterly, including:
As a client of Lipsey and Associates, we will regularly inform you of our various Tax Advisory Packages available to our individual tax clients and our business tax clients. We also offer regular Monthly or Quarterly “Check-Ins” with our Senior Tax Managers.