Business Accounting Services
Based in Lewisburg, TN and providing for Columbia, TN clients, our tax services include tax preparation, planning, and filing across various entities. We also provide bookkeeping services to streamline your tax documents. You’ve worked hard to build your business, and Michael D. Sullivan, CPA, is here to offer expert tax and accounting support to secure its financial future. Since 2002, businesses across Marshall and Maury counties have trusted our firm to offer comprehensive tax and accounting services. We assist business entities of all sizes and industries in Columbia and Lewisburg, TN. We work with businesses of every size and have the skills, experience, and tools to ensure your paperwork, taxes, and financial statements are filed appropriately. We also offer personal tax preparation services to individuals throughout the area.
Est. 2002
Your Success Is Our Priority
Online resources from our office, including free tax preparation guides and income tax return tips, are available to assist all clients. We serve clients out of our office in Lewisburg, TN, and Columbia, going out of our way to provide each client with excellent tax services. Located conveniently near Ellington Pkwy, we offer both in-office consultations and online appointments, based on your needs and schedule. Working with a skilled and experienced accounting team, including a tax professional, is essential to managing a successful business. We work with businesses throughout our area to help them build a stronger financial future while protecting their current assets. It is our priority to make tax season stress-free while helping you manage your ongoing financial planning and taxation needs.
Tax Returns
Our tax planning and preparation services focus on helping clients reduce liabilities and return errors in the current and future tax years. Our staff works with you to make sure your corporate, partnership, and estate and trust tax returns comply with local, state, and federal tax laws. With years of experience under our belt, we will complete your returns efficiently, accurately, and effectively.
Bookkeeping
An essential part of preparing your taxes and making informed financial decisions is maintaining accurate financial records. Our bookkeeping services focus on accurately recording your transactions, providing essential support for your tax and financial needs. By keeping your ledger up-to-date, it allows us to generate financial reports, monitor expenses, and process key data related to your business.
Payroll Processing
Our payroll services not only ensure your employees’ timely payment but also aid in accurate tax preparation and apply directly to your financial savings goals. Payroll management is a necessary task for all businesses, but it can be an undertaking for business owners, especially as your enterprise grows. When you choose our firm for payroll services, we offer customized payroll planning that meets your company’s specific current and future needs. Effective payroll administration also makes filing payroll tax returns efficient for your business.
Financial Statements
A financial statement serves as a formal record of financial activities for your business. These can be compiled on a monthly, quarterly, or annual basis. By analyzing your financial statements, it can help you make investment and operating decisions for your business. Additional resources, like our tax refund calculator and personalized income tax return reviews, are great tools for maximizing your deductions.
Small Business Consultations
Our small business consultations focus on helping you understand your finances and take action to secure future growth. We will partner with you to develop an individualized plan and help you navigate both state and federal tax systems. We will partner with you to develop a personalized plan and help you navigate the state and federal tax systems.
Frequently Asked Questions
What types of tax services do you offer for individuals and businesses?
We prepare Form 1040, 1065, 1120, 1120-S, 1041, 706, and 709. Additional online resources, including step-by-step tax preparation checklists, are available free for download. We also offer personalized service options to meet your specific tax preparation needs. We also help businesses with payroll tax reporting.
How can I reduce my tax liability through strategic planning?
You can reduce your tax liability by having quarterly meetings with your CPA. Consistent tax preparation based on a clear plan crafted by professional CPAs ensures all potential deductions apply, minimizing errors. Strategic planning is valid for reducing tax liabilities yearly. Having direct consultations with your CPA allows for a tailored approach to your tax preparation and accounting needs.
What are the common mistakes people make when filing taxes, and how can I avoid them?
Misfiled returns often lead to IRS notices. Avoid errors by staying updated on tax code changes and valid deductions through our expert guidance. Missing out on deductions or misunderstanding tax laws frequently results in avoidable tax preparation errors. Disorganized receipts and missing financial documents can lead to overlooked deductions. Keeping everything well organized is essential for great tax savings. To avoid common mistakes, ensure you document all expenses and check that all tax forms are correctly filed.
How do you ensure the confidentiality and security of my financial information?
We have multiple password-protected logins to our computer systems, applying stringent security measures. We also require signed, valid authorization before releasing any information, adding an extra layer of protection for your tax documents. We have a secure file server that is only accessible by the management of the company. We offer direct consultations both online and in-person, ensuring the services meet our clients’ confidentiality demands.
What is the process for filing taxes for a small business versus a large corporation?
In both scenarios, accurate record-keeping is the foundation of proper tax preparation. Small businesses tend to believe that they are not allowed the same deductions as a large corporation but this is not correct. We feel all businesses, small or large, should have proper bookkeeping prepared to help with ensuring all tax deductions are taken.
How can I optimize my accounting records to maximize tax savings?
You can optimize your accounting records and maximize tax savings by keeping all receipts documented and filing your taxes on time. To maximize your tax savings and ensure a valid income tax return, organize all receipts and use them efficiently throughout the tax year. Lost receipts translate into lost tax savings in the great scheme of tax preparation.
What are the penalties for late tax filings or payments, and how can I avoid them?
The IRS applies a late filing penalty of 5% of the taxes owed per month, up to 25% of the return, emphasizing the need for timely tax payments. You will also be assessed interest for each month the payment is not paid.
Do you provide audit representation services if I’m selected for an IRS audit?
Yes, we have over 25 years of experience representing taxpayers that are under audit with the IRS.
How can I prepare my business for tax season in the most efficient way?
Well-kept records are valid critical tools for preparing your business taxes efficiently. For busy individuals, hiring a CPA helps in managing month-to-month bookkeeping and tax-related documentation. We offer these services to many clients, including tax audit readiness and consultation appointments.
What should I do if I receive a notice from the IRS about discrepancies or issues with my tax return?
The first thing you should do is contact your CPA to help decipher what the IRS needs. Your CPA can help you get what records are needed to clear this matter with the IRS.
Let us help you grow your business!
To learn more about our business accounting services, please give us a call today.
Lewisburg Office
Lewisburg Office
Phone: 931-270-6715
Fax: 931-270-8002
Office Hours
Monday - Friday:
8:00 am – 5:00 pm
