Business Tax


Let the Diamond & Associates Team Help You

Our focus is on the financial health of your business.  For established businesses and entrepreneurs, solo practitioners and larger corporations, our systems and knowledge can be put to work to maximize your deductions, track your business’ financial health, and ensure you remain in compliance with all regulations.  We know that great decisions start with an “examination of the numbers” and we help ensure you have the financial records you need on hand to help grow your organization.

Our clients include a variety of organizations including those in the wholesale, retail, manufacturing, transportation, warehousing and service industries in the greater Philadelphia area and beyond.  We have expertise assisting professional corporations, non-profit entities and government funded agencies.   We work with them from our office in Newtown, PA, and provide help in the following areas:

Record Keeping

For businesses big and small, maintaining records is a cornerstone of financial health.  While you may be an expert in what you do professionally, more than likely it is a good idea to have a good accountant help you set-up your financial books.

Bookkeeping

Do you need a bookkeeper for your business?  A good bookkeeper can take the guesswork and stress out of your daily, monthly or weekly financial record maintenance. We can help you manage invoicing and bill paying, balancing your business checkbook, process payroll and sales tax, and other services so you can focus on your operations.

Deductions

In addition to being your own boss, one of the great aspects of owning your own business are the deductions you can take.  This can include your cell phone, miles driven for work on your car, a home office, internet, office space, professional services, continuing education and a portion of business travel may all qualify as deductions for you.  As your business grows your employees may have expenses that you can deduct as well.  We help you maximize your deductions and make sure you account for all of them.

QuickBooks

Should you use QuickBooks to track and manage the finances of your business?  We can help you make that decision.  In most cases it is best to start tracking expenses and deductions using QuickBooks.  As a Certified QuickBooks ProAdvisor we can help you make the best decisions for your business when using the software and also teach you and your staff on how to use it.

Quarterly Tax Payments

When you start making money in your business it can be very exciting.  However, with any profit comes the possibility of having to pay taxes.  When you own a business, and are not paid with a paycheck, you may be required to make quarterly estimated tax payments.  The calculations required to make these payments can be complicated.  We can sit with you on a regular basis to review your business and tax exposure.

Filing of Taxes

Whether your business needs to file its own tax return or the income is going to be reported directly on your personal tax return, we can help you to ensure the process is handled correctly.  Our goal is to help you and your enterprise comply with regulations but keep as much money in the bank as possible.  We understand that the process of filing a tax return for your business can be overwhelming and have built our Newtown accounting practice to handle it for you.

From start-ups to well established businesses we are here to help businesses of all sizes streamline their cash flow, manage payroll, organize accounting procedures and file tax returns.

Large and small businesses and nonprofits, LLC’s, sole proprietors and corporations trust us to expertly handle their federal, state, and local tax returns, payroll tax, sales tax, business tax, and mercantile tax.