Thorpe's Consulting Systems, Inc.
Our Services
We offer a broad spectrum of tax and business financial consulting, including asset coordination, accounting and auditing. Our clientele ranges from private individuals and sole proprietors to partnerships and corporate entities across all sectors.
We specialize
in:
Accounting and Financial services
Tax return filing and tax planning for individuals
Bookkeeping and financial statements for small businesses
Compilation and Review services
Corporate tax return filing and planning for businesses
Non-Profit Accounting and services
Computer software and hardware consultant
Forms of business entity and filing
Retirement Planning
Quickbooks and Peachtree Consulting
Notary Public Services
Tax consultation
Our tax advice is always up to date. Find out how we can save you money.
Businesses and individuals pay the lowest amount of taxes allowable by law because we look for ways to minimize your taxes throughout the year.
Tax Preparation
Preparing your own income tax return can leave you with more questions than answers. Today's tax laws are so complicated that filing a relatively simple return can be confusing. It is just too easy to overlook deductions and credits to which you are entitled. Even if you use a computer software program there's no substitute for the assistance of an experienced tax professional.
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Tax Planning
Planning is the key to successfully and legally reducing your tax liability. We make it a priority to enhance our expertise of the current tax law, complex tax code, and new tax regulations by attending frequent tax seminars.
Payroll Services
Our financial audit will assess the accuracy and relevance of your financial statements. Equipped with this knowledge, you'll be in a better position to take action.
Accounting
We go beyond payroll and financial accounting and assist you with reporting and evaluating all of your business transactions.
Proper management of funds not only saves money, it makes money for you. Protect yourself by timely reconciling and promptly objecting to your bank about any unauthorized, fraudulent or forged checks presented to your bank and paid by that bank. These reasons to reconcile alone should be enough.
Reconcile your bank account
Reconciling your business checking account each month allow us to keep your bank account, accounting, and taxes up-to-date by
Detect and prevent excess/unjustified bank charges
Detect and prevent embezzlement of funds from within your company
You can't really know how your business is doing unless all accounts are reconciled and properly accounted for on your financial statement
Determine your income tax liability
Income Statement
An income statement, otherwise known as a profit and loss statement, basically adds an itemized list of all your revenues and subtracts an itemized list of all your expenses to come up with a profit or loss for the period.
An income statement allows you to...
Track revenues and expenses todetermine the operating performance of your business
Determine what areas of your business is over-budget or under-budget
Identify specific items that cause unexpected expenditures. Like phone and supply expenses
Balance sheets, along with income statements, are the most basic elements in providing
financial reporting to potential lenders such as banks, investors, and vendors who are considering how much credit to grant you.
Track dramatic increases in product returns or cost of goods sold as a percentage of sales
Balance Sheet
A balance sheet gives you a snapshot of your business' financial condition at a specific moment in time.
A balance sheet helps you...
Quickly get a handle on the financial strength and capabilities of your business.
Identify and analyze trends, particularly in the area of receivables and payables.
Determine if your business is in a position to expand.
Determine if your business can handle the normal financial flows of revenues and expenses?
Determine if you need to take immediate steps to bolster cash reserves?
Determine if your business has been slowing down payables to forestall an inevitable cash shortage?
Having us review your
general ledger system each month allows us to hunt down any discrepancies such as unrecorded payments. Then we'll fix the discrepancies so your books are always accurate and up to
date.
Maintaining a Clean General Ledger
The general ledger is the core of your company's financial records. These records constitute the central "books" of your system. Since every transaction flows through the general ledger, a problem with your general ledger throws off all your books.
Business consultation
From founding your business to a succession plan, we can assist you every step of the way.
Small business owners spend an average of eight hours a month performing payroll functions. That's 12 full days a year that could be spent generating sales, prospecting new business opportunities, improving products or services, or servicing customers.
Thinking of owning your own business?
Opening your own business is exciting and thrilling. It's everything that comes after the excitement and thrill has worn off that dictates whether a small business will make it or not. It's up to you to maintain and stretch out the "thrill and excitement" period forever.
A methodical plan of action is needed to fulfill your dream or goal of being your own boss and running a successful business. Success lies in the approach you choose to take. We help you avoid the common pitfalls that many new small business owners make when starting their new venture.
We help you...
- Prepare an initial business plan to clarify your marketing, management, and financial plans.
- Determine your start-up capital needs.
- Identify sources of start-up capital and backup sources if needed.
- Evaluate and quantify your borrowing power so you know how much money you can get your hands on if needed.
- Select a business structure that best fits your needs by evaluating tax advantages, legal exposure, ease of operation and portability should you need to relocate.
- Select the right accounting software by evaluating your budget, needs and hardware.
- Prepare a Cash Flow Budget so you know exactly how much money you need to keep the business alive each month for the first few years. Unplanned cash requirements are always emotionally painful.
- Establish billing and collection procedures to maximize your cash flow.
- Establish procedures to monitor and control costs.
- Setup a home office so you can maximize your tax deductions.
- Prepare and file all required state and local licenses and permits.
- Prepare and file your application for your Federal Employer Identification Number.
- Provide payroll and payroll tax filing when you bring on your first employee.
- Comply with employment laws so you don't get hit with fines and unhappy employees.
- Identify your business insurance needs.
- Develop a solid Partnership Agreement. This is an extremely important document for all new partnerships and will help prevent a tremendous amount of financial and emotional problems down the road.
Let us help you succeed by getting your new business off to a good strong start.
Let us help you succeed by getting your new business off to a good strong start. Please complete the form below to learn more about our New Business Formation Services.
When it comes to paying employees, laws and the IRS have made the payroll function a time consuming nightmare for the small business owner.
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