We are a full-service accounting firm here to help you reach financial success!
Many tax preparers do the minimum when preparing taxes. They take what you give them and expect you to know what you need and what you can deduct. At Soulence Tax and Accounting, we ask questions because we know that no two tax returns are the same. We take the time to get to know you and understand your individual situation.
Learning about taxes isn’t for everyone, so we constantly research and keep on top of the ever-changing rules and regulations for you. We then provide you with information and worksheets to help you know what to gather so we can accurately prepare your taxes. If you have questions about what is deductible or if something should be included on your tax return, you can always call or email our office and we will respond to you.
Let us help you keep as much of your hard earned money as possible. Contact us today!
Bookkeeping is Essential to Your Financial Success
One of the most frustrating parts of business for many is bookkeeping. Business owners are generally good at their trade but bookkeeping can be challenging and easily procrastinated.
But bookkeeping is a vital part of a business to help you monitor income and expenses as well as prepare for tax time.
So why bother with the books? Let us do that for you!
At Soulence, we hire and train only the best in our bookkeeping department. When you hire us to do your bookkeeping, you can be sure that your bookkeeping is accurate. You will receive regular reports so that you can monitor your business and make wise business decisions. When you need financial statements, we can provide them for you instantly.
Wealth Planning with You in Mind
Here at Soulence we now offer the unique blend of tax planning and wealth planning. All of your investments whether, IRAs, 401ks, investment accounts, life insurance, etc. have a tax impact. We can help plan in all areas of your financial life to help optimize your investment and retirement goals while at the same time minimizing your tax liability. We help to reduce risk in a volatile market. We help to grow tax free retirement and much more. We work with brokers both on investing and life insurance which enables us to not be tied to any one product or strategy. Our goal is to help you reach your goals. We take the time to meet individually with all our clients to find out your wants and needs and build a strategy that helps accomplish those wants and needs in the most efficient way possible. You work hard for your money! We not only want to help you keep your money but to help you put your money to work for you.
Let Us Help You Get Your Payroll in Order
If you own a business, you have a need for payroll at some time. If your business is a corporation, you have a requirement for payroll. Additionally, corporations are required to pay their officers a reasonable wage for services rendered, which means if you are not paying yourself a wage you may not be compliant.
Employees and officer wages come with many federal and state regulations. These various taxes and insurances come with monthly, quarterly, and yearly filing requirements, which if not filed and paid properly, will result in penalties and interest.
We stand ready to assist you with preparing your payroll, making sure all your filings and payments are done accurately and on time. Let us take the worry and stress out of paying yourself and your employees.
What is Cost Segregation?
Cost Segregation is a little known tax strategy for people who own commercial property. When you purchase a commercial property, the standard process is to depreciate it over 39 years. That means instead of taking the purchase price all at once, you must deduct 1/39 of the cost every year for 39 years.
Cost Segregation allows the owner of the building to divide the building into the various components. Instead of depreciating the entire building for 39 years, some parts are depreciated over less years. For example, floor coverings would be depreciated over 5 years instead of 39 years.
By breaking down the components and depreciating each by how long they really last, you can deduct a larger amount each year and as you replace items, you can depreciate them over the shorter period of time. This is a great way to save on your taxes.
We can help you set up cost segregation the maximize your deductions.
Setting up a business?
When it comes to your business, we at Soulence, know how important it is to be set up in a way that will minimize your tax liability. We consult with our clients on how the various entities will affect them from a tax standpoint. We also customize the various tax strategies available within the tax laws, so that they can be implemented throughout the year. In addition, we like to review our client’s Profit Loss Statements on a regular basis and conduct yearend tax planning sessions. We believe that implementing good business strategies helps business owners to be able to have the tools they need to be successful and concentrate on the things they do best.
Give us a call to see how we can help you set up your business!