Lewisburg Office (931) 270-6715
Columbia Office (931) 381-7258

Committed to Quality Solutions

Business Accounting Services

You’ve worked hard to build your business, and Michael D. Sullivan, CPA is here to help you secure its financial future. Since 2002, businesses across Marshall and Maury counties have trusted our accountant and team for comprehensive business accounting and tax services. 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 provide personal tax services to individuals throughout the area.

Est. 2002

 

Your Success Is Our Priority

We serve clients out of our office in Lewisburg TN, and go out of our way to provide each client with the highest quality of work. Working with a skilled, experienced accounting team is essential to owning, operating, and managing a 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 a breeze while helping you manage the day to day financial aspects of your business.

Tax Returns

Our tax planning and preparation services focus on helping reducing liabilities 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 precisely recording your transactions so your business can keep running smoothly. 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

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 administration, we will work with you to develop a payroll system which is attuned to your company’s 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.

Small Business Consultations

Our small business consultations focus on helping you understand your finances and take action to secure future growth. We will help you identify which areas your business succeeds in and where it needs to improve. 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. 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. Your CPA can help you decide what avenues are best for your strategic planning for the tax year in question.

What are the common mistakes people make when filing taxes, and how can I avoid them?

People commonly forget new dependents they have for the tax year. People miss out on itemized deductions and business deductions by not having organized records. People can avoid these common mistakes by saving all receipts and having good records of all expenses.

How do you ensure the confidentiality and security of my financial information?

We have multiple levels of password logins to our computer systems. We also require signed authorization before releasing any information. We have a secure file server that is only accessible by the management of the company.

What is the process for filing taxes for a small business versus a large corporation?

The process is very similar in that good record-keeping is required to assist in 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 by keeping all receipts organized. To maximize your tax savings, you need to keep all receipts organized for the tax year. Lost receipts equal minimized tax savings.

What are the penalties for late tax filings or payments, and how can I avoid them?

The IRS assesses a late filing penalty equal to 5% of the taxes owed for each month that the return is late, up to a maximum of 25%. 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?

The best way to prepare your business for tax season is to have well kept records. Most people are busy running their businesses so it is wise to hire a good CPA to help with your monthly bookkeeping. We provide these services to many clients.

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

931-270-6715
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Office Hours

Monday - Friday:
8:00 am – 5:00 pm