Numbers are necessary to navigate your business. Complete and accurate accounting records will reflect the true financial results of your business operations. Here are some examples of how we can help with your bus and motorcoach business.

• Chart of accounts: establish or refine
• Transaction analysis: approve or reclassify
• Accounting policy and procedures: review and advise
• Asset tracking: book and tax depreciation reports
• Report design: developed for the bus industry
• Periodic accounting check: monthly, quarterly, annual

Do your lending institutions, leasing companies, shareholders or investors need more than internal financial reports?  Financial Statements issued by a Certified Public Accountant come in varying levels of assurance and cost.  We prepare the following types of financial statements.

• Basic financial statement preparation – for internal purposes.
• Compiled financial statements – CPA report issued without an opinion or verifications.
• Reviewed financial statements – CPA issued report expressing limited assurance on the accuracy of the financial statements.
• Audited financial statements – CPA must understand the internal controls, assess fraud risk, and obtain audit evidence through observation, inspection, confirmation, examination, and analytical procedures. A report is issued upon completion of the audit to accompany the financial statements. This is the highest level of compilation and review.

Record keeping for income tax can be different than that used for business operations.  The rules are different and income tax is often subject to change.  Areas most commonly different are long-lived assets such as motorcoaches and heavy service equipment, major repairs, and depreciation.  We prepare the following types of income tax returns.

• Corporate returns – C and S
• Limited Liability Companies
• Limited Liability Partnerships
• Partnerships
• Consolidated returns
• Personal returns
• Trust Returns
• Gift tax returns

Income tax planning can be an integral part of your financial life.  Do you have multiple reporting entities?  How different entities fit together can have a significant effect on how you pay taxes.  Below are some considerations that go into tax planning.

• How to organize your entities
• What type of entity best serves your goals
• How your entities interact for tax reporting
• Estimated payments for owners of flow through entities
• Estimated taxes for corporations and other legal entities
• How to best deal with tax law changes and challenges
• Estate planning issues and other major life changes
• Selling your business
• Business succession
• Buying a business
• Retirement considerations