Erickson & Company, CPA, PA offers a number of commercial (business) accounting services designed to serve to your accounting needs. Our preference is for you, the business owner, to shoulder much of the accounting load, not simply to lower your accounting fees, but we hope you will use the accounting data to assist in the management of your business.

With the advent of the personal computer for accounting, we find that businesses can prepare checks on their computer and do so in less time than it takes to prepare a manual check. Computer prepared checks offer the additional benefit of eliminating the need for the reentry of manual checks, which saves time, but also reduces the possibility of errors that may occur in the reentry process.

At EAC, we normally meet with our business clients several times a year to review their accounting records, but more importantly, to follow the progress of your business, and to add our ability to anticipate changes that might affect your business.

We can also offer assistance with bookkeeping functions like bank reconciliations, but again, this is another area in which we encourage you, the business owner, to assume this role, giving you additional familiarity with the details of your business operation.

If you have limited experience with accounting, keep in mind that we have extensive experience in accounting and in training business owners to work closely with us in gradually developing a business accounting system that provides you with the accurate records that are needed for tax compliance as well as providing you with information that you will use to manage your business.

• Compliance (completion of tax returns): All individuals, businesses and other entities such as estates and trust are required to comply with various federal, state and local tax laws.

Compliance with tax laws is neither easy nor convenient; however, is a fact of life. Individuals have to file their federal and state and local income tax returns. Compliance for businesses is even more complicated. Businesses are required to file federal, state and local income tax returns; however, they also have to prepare payroll tax returns, including unemployment tax returns for federal and state purposes, sales tax returns and various registrations with state government.

Although compliance with these numerous tax laws may seem onerous, Erickson & Co. is familiar with and experienced in tax compliance and can assist you in the area of compliance with tax laws. Erickson & Co. can provide you with forms that assist you in organizing your tax information, and they can assist you with installing systems that significantly reduce the burdens associated with tax compliance.

Call Erickson & Co. today to start your efforts toward reducing the burdens of tax compliance.

Erickson & Co. can assist you in the following areas of tax compliance: corporate taxation, partnerships, limited liability companies, sole proprietorships, individual, trusts and estates.

• Taxation Planning: As important as compliance with tax laws is, it can frequently be more important to property plan taxation events. Completing the necessary tax returns accurately and completely is a necessary step; however, it can be even more important from an economic standpoint to properly plan your economic activities around the various tax laws to take maximum advantage of the tax laws as written.

With proper planning you can take advantage of reduced tax rates for long-term capital gains and for certain qualified dividends. You can also defer taxation through use of deferred compensation plans. You can lower tax burdens by reducing one year peaks in income. You can also make certain election such as utilizing section 1031 of the Internal Revenue Code to defer capital gains upon the sale of business or investment property.

Proper timing of the sale of a personal residence can also be advantageous and results in the exclusion of up to $500,000 of gain from taxation.

In the Internal Revenue Code alone there are numerous election is available that allow a taxpayer to substantially reduce his tax burden. At Erickson Co. we can select appropriately apply the elections that are most advantageous to you and incorporate them into your tax returns to reduce your current tax burden.

• Representation before examining agencies: Erickson & Co. can represents taxpayers before various taxation examining agencies such as the Internal Revenue Service and state department of revenue. In the event of tax audit, Erickson & Co.’s knowledge of and experience with the Internal Revenue Code can be of substantial value.

Following a tax audit, Erickson & Co. is also available to assist you with an appeal and following an appeal Erickson & Co. can assist you or tax attorney with the preparation of a protest for Tax Court and can assist your tax attorney in preparation for Tax Court trial.

Erickson & Co. also represents clients in tax audit situations even if the original tax compliance work was done by other professionals.

• Cost Segregation Study: Nonresidential buildings are typically depreciated over 39 years, while residential rental buildings are generally depreciated over 27.5 years. The Internal Revenue Service does allow a building to be segregated into components which allow certain components of a building to be depreciated over five or seven years. This can result in a significant deferment or at times the elimination of taxes. However, the Internal Revenue Service also requires this allocation to five and seven-year property to be supported by a cost segregation study. A cost segregation study is a comprehensive analysis of the property which substantiates the allocated portions of the property which are not structural building components but are instead assets with the short-term life such as carpeting, wall covering, appliances, removable partitions, decorative tile, restrooms, etc.

If you would like to consider having a COST SEGREGATION STUDY completed for your business investment in real estate call Erickson & Co. to obtain more information on the cost segregation study process.

• Capitalization in Syndication: If you are trying to capitalize or syndicate a new project, Erickson & Co. can assist you with financial projections and a business plan that will clearly explained the project to potential investors.

• Management Advisory Services: Erickson & Co. offers management advisory services to numerous small businesses. The services can be as simple as a conference reviewing your current situation and suggesting possible improvements, or they can involve an extensive review of your business processes with a series of recommendations that will improve efficiency and profitability.

• Litigation Support: Erickson & Co. offers litigation support for existing clients or for new clients on an as needed basis. Litigation support includes serving as an expert witness, financial analysis of the value of business and other assets, damage analysis, loss of income analysis, etc.

• Forensic Accounting: Erickson & Co. offers forensic accounting services to identify losses resulting from theft, fraud, disaster, etc. These forensic accounting services generally involve the issuance of the report to substantiate the findings and conclusions developed by Erickson & Co.