• Tax Preparation & Planning
  • Life Insurance & Annuities
  • Small Business Accounting
  • Quickbooks Payroll Processing
Life Insurance Services Midlothian

Preparing your own income tax return can be a task that leaves you with more questions than answers. According to a study released by the US Government's General Accounting Office, most taxpayers (77% of 71 million taxpayers) believe they benefited from using a professional tax preparer.

Whether we like it or not, 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.

Here's what you get...

Accurate Tax Returns

Your tax return will be checked and rechecked by computer software identifying potential problems the IRS may look at more closely and reviewing the math to limit IRS contacts.

Fast Filing

Your tax return can be filed electronically so you will get a refund back more quickly.

Tax Planning

Planning is the key to successfully and legally reducing your tax liability. We go beyond tax compliance and proactively recommend tax saving strategies to maximize your after-tax income. We will show you potential deductions to limit your tax liability for next year.

Small Business Tax Prep

We will take the time to understand your business to make sure the proper forms and schedules a filed. We will also take the time to go over your return with you. This is critical to making sure a complete return is filed and the least amount of tax is owed.

Books a Mess? No Problem!

If you own a small business and haven't kept up with your bookkeeping, don't worry. We clean up your books for the past year or years to make sure a complete and accurate return is filed. Then we will help you set up an easy system that allows you to keep your books in tip-top shape next year.

Click here to learn more about our accounting services....

Bookkeeping Services Midlothian

Building and preserving your personal wealth requires specialized attention. You get one-on-one guidance and a comprehensive financial plan that helps manage risk, improve performance, and ensure the growth and longevity of your wealth.

We Help You...

Pay For Your Child's College Education

By accurately estimating the amount of money you'll need, analyzing your assets, reviewing estimated shortfalls, we will recommend the best alternatives and strategies for saving to fund your family's education.

Save For A Comfortable Retirement

By identifying your retirement needs, analyzing your assets and sources of retirement income, reviewing estimated shortfalls, and identifying the best ways to save for retirement given your financial situation and risk tolerance.

Protect Your Family

By ensuring you have enough money in your emergency fund and analyzing your life, disability, health, home, and auto insurance coverage. We also review your will and various powers of attorney designed to take care of your affairs in the event you are incapacitated and can't manage them yourself.

Achieve Your Investment Goals

By identifying the steps needed to maximize your investment returns as well as the steps needed to help minimize your risk while building increased predictability of your investment returns.

Leave A Legacy For Your Heirs

By maximizing the value of your estate by saving tax dollars, professional fees, and court costs. As well as minimizing the costs of probate, creditors, lawyers, and estate taxes, which can negatively impact the value of your estate, we also help you stay in control of your affairs by providing a road map for passing your estate on to your heirs.

A financial plan's true value comes with its implementation. Let us help you attain financial freedom by requesting a consultation below.

Bookkeeping Services Midlothian

One major key to the financial success of any business is having current and accurate financial records and information.

As a small business owner you have more enjoyable things to do than to keep your own books. We will take care of your books for you, so you can focus on the parts of your business you are passionate about.

Here Is What You Get

Balance Sheet & General Ledger

We will review your general ledger to make sure it is structured correctly to capture all the information your company needs to be financially successful. We will recommend any clean-up work or restructuring that is needed.

QuickBooks Setup

QuickBooks is one of the most popular accounting software packages. If you do not have an established set of books, we can set up your financial records for you using QuickBooks Online. We will take the hassle out of setting up your chart of accounts and make sure the proper controls are in place.

We can also help you set up your payroll. Learn more by clicking here: QuickBooks Payroll Processing.

Financial Statements

You will receive professional financial statements to be used to make management decisions. Each month you will receive a Profit & Loss Statement and Balance Sheet. In addition, accounts receivable and accounts payable reports will also be made available.

Bank Account Reconciliation

Reconciling your bank and credit card accounts regularly is critical to discovering mistakes and unauthorized transactions. We will reconcile your accounts as part of the monthly book closing process.

Unlimited Consultations

We are always available to help you understand how to interpret and utilize the financial information we provide. Consultations with us are included with accounting services, so please feel free to call us whenever you have a question or concern.

If you'd like to receive a consultation for our Small Business Accounting Service, please complete the form below.

Life Insurance Services Midlothian

When it comes to paying employees, laws and the IRS have made the payroll function a time consuming nightmare for the small business owner.

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.

We offer payroll solutions that meet your business's needs and enable you to spend time doing what you do best--running your company.

Comprehensive Payroll Services

  • Process payroll online.
  • The ability to instantly print payroll checks on your own printer.
  • Free Direct Deposits
  • Your payroll processed on-time, every-time.
  • Worry Free IRS and State tax reporting as well as EFTPS tax deposits.
  • User friendly, and easy to understand monthly, quarterly, and annual payroll tax reports, including W-2, W-3 and 1099 forms.
  • Detailed reports on your employee's vacation, sick days, and personal days accruals.
  • Creation and filing of the required new hire reports
  • Your payroll records maintained in tip top shape.

Free Consultation

Sound tax and financial advice is based on years of training, hard work, and passion. You’ll find all that and more at Commonwealth Tax and Insurance. We would love to get to know you and help you with your financial needs.

Get In Touch