- Entity Set-Up – Choosing the optimum Entity available for your Business Enterprise, taking into account the most favorable Tax Treatment, Ownership Structure, Future Projected Growth and Exposure Issues.
- Bookkeeping, Business Management, External CFO Services – From monthly bookkeeping to creating an entire transparent middle management for your business, our services include write-ups, bank reconciliations, payroll, bill paying, budgets, analytics, financial management, plus coordinating insurance, banking and other business requirements through our Network of Strategic Partners. We can customize all or any part of these services for you.
- Financial Reporting and Attest Services – Including preparation of Management Reports, Compiled Financial Statements, Reviewed Financial Statements, Audited Financial Statements, “Agreed Upon Procedures” Statements and other Generally Accepted Accounting Procedures and non-GAAP Reporting.
ACCOUNTING SYSTEMS SET-UP AND IMPLEMENTATION SERVICES
TAX PLANNING AND COMPLIANCE SERVICES
- Tax Planning – Updating all books and adjustments throughout the year, and especially before the end of tax year in order to prepare for, or minimize, if possible, tax liabilities (or increasing tentative refunds). Courses of actions could include available tax credits, timing of purchases and receipt of revenue, retirement planning vehicles, bonuses, prepayment of estimated taxes, inter-company transactions with non-affiliated entities, etc.
- Significant Life Event Planning – As it pertains to taxation, including marriage, divorce, partnership, property sales, including Exchanges and Installment Sales.
- Preparation of Tax and Information Returns, including – Sales Tax, Payroll Taxes: Individual, Corporate, Partnership and Fiduciary Taxes, including LLC Filings; Gift Taxes, Estate Taxes.
- International Tax and Disclosure Filings, including;
- FinCen Form 114 / F-Bar [Foreign Bank Reporting] – This is a compliance area upon which the IRS has been spending vast amounts of resources over the past several years. Basically, anyone who has ownership or control over any foreign bank accounts where the aggregate of all accounts reaches $10K at any time during the year. Filings must be timely and penalties are severe.
- Form 5471 – Information Return of U.S. Persons With Respect To Certain Foreign Corporations
- Form 5472 – Information Return of a 25% Foreign-Owned U.S. Corporation or a Foreign Corporation Engaged in a U.S. Trade or Business
- Form 5713 – International Boycott Report
- Form 8858 – Information Return of U.S. Persons With Respect To Foreign Disregarded Entities
- Form 8865 – Return of U.S. Persons With Respect to Certain Foreign Partnerships and Their Associated Schedules
- Form 8802 – Application for United States Residency Certification
- Prior Period Filings – We can offer you peace of mind by getting you up to date with your tax filings so that you can move on with your life and devote your energies to your future endeavors! Once these filings are prepared, we can determine if you will:
- Receiving a refund [note: statute of limitations disallows any refunds for periods older than 3 years],
- Owe money that you can afford to pay or-
- Owe money that you cannot afford to pay. In this case, we have an array of Tax Controversy and Resolution Services available.
TAX CONTROVERSY RESOLUTION SERVICES
- Tax Examination Representation
- Prior Period Filings
- Offers-In-Compromise – We may be able to reduce your liabilities significantly based on several criteria including inability to pay. In many cases, we have been extremely successful in reducing these liabilities by over 80%, especially when there are little net assets or current earnings.
- Installment Agreements
- Innocent Spouse and Injured Spouse Relief
- F-Bar and other International Disclosure and Tax Problems Resolution/Representation
BUSINESS PLANNING AND ADVISORY SERVICES
- Entity Set-Up – Picking the right Entity for your Business Enterprise, taking into account the most favorable Tax Treatment, Ownership Structure, Future Projected Growth and Exposure Issues.
- Business Advisory Services – Including Operational Structure, Internal Reporting, Expansion and Contraction Planning, Banking, Budgeting and Regulatory Compliance.
- Key Personnel Retention Programs
- Business Management and External CFO Services – We can create an entire transparent middle management for your business. Our services include write-ups, bank reconciliations, payroll, bill paying, budgets, analytics, financial management, and coordinating insurance and other needs. We can customize all or any part of these services for you.
- Retirement and Succession Planning Programs
- Entity Set-Up – First, does it make sense for you to be a Not-For-Profit? We will help you choose the right Tax Exempt Status, establish and maintain strong controls and powerful reporting mechanisms. We’ll make it easier than ever for you to comply with regulations, reduce fraud and boost confidence among your supporters.
- Business Advisory Services – Including Operational Structure, Internal Reporting, Expansion and Contraction Planning, Banking, Budgeting and Regulatory Compliance to Not-For-Profit Organizations so you can navigate your team to stay focused on your mission.
- Informational and Business Income Forms – Prepare and file tax forms 990 and Unrelated Trade or Business Income forms 990T.
- Patronage Allowance – Prepare the pastoral housing allowance and other required benefit documentation to meet the complex dual status of Ministers and Rabbis.
- Financial Reporting and Attest Services – Including preparation of Management Reports, Compiled Financial Statements, Reviewed Financial Statements, Audited Financial Statements, “Agreed Upon Procedures” Statements and other Generally Accepted Accounting Procedure and non-GAAP Reporting.
- Strategic Planning – Presenting innovative solutions to Not-For-Profit Organizations, helping clients position their organizations to obtain proper funding in an intensely competitive environment.
For those clients who require estate planning for themselves or for family members, including parents, Braverman CPA PC offers a wide range of Planning and Compliance services through our staff and our network of trusted professionals. Discussing and planning your estate is one of the most difficult and important things you will ever do. This is why it is so easy to fall prey to procrastination. It is also a great gift you can give your family and loved ones. There are many great techniques, including family gifting, charitable gifting, trust creation, and other actions, to help you and your family pass along to future generations the wealth and assets that you have worked so hard to obtain.
- Professional Service Industries – Including Individuals and Firms specializing in Architecture, Engineering, Law, Health Care, Financial Services and Consulting.
- Creative Service, Arts and Media Industries – Including Advertising, Branding, Graphic Design, Public Relations, all types of Production and Post-production Companies, Off Broadway Plays and Musicals, Theaters and Performance Spaces, Content and other Creative Development Companies and Artists, Photographers, Fine Artists, Record Industry, Music Artists, Tour Accounting, etc.
- Small to Medium Size Manufacturing – Including Boutique and Fine Jewelry, Apparel and Conventional Manufacturing Companies utilizing available tax credits.
- Real Estate Entities and Enterprises – Including Interior and Construction Designers, Contractors, Co-ops and Condos, Real Estate Investment Entities, Tax-Free Exchanges, Installment Sales, Financing Opportunities, etc.
- As well as other businesses and individuals with sophisticated planning and compliance needs.