Daily bookkeeping and financial record-keeping
At the end of the month, we require that you send us your bank statements, all sales, deposits and expenses transactions. We will enter them in our accounting system to generate financial statements which include Income Statement, Balance Sheet, General Ledger and Cash Flow Statement. We will reconcile your bank accounts.
Your payroll will be managed by YFS and we will maintain your payroll records. At the end of each pay period, just send us your payroll information. Choose to pay your employees by checks or direct deposit and we will process your payroll.
We will process all your payroll tax deposits accurately and on time and file your quarterly and annual filings electronically (940, 941 and states).
At the end of the year, W-2s, and 1099s will be prepared by us and mailed to you for distribution to your employees. We will make available Payroll Reports at every payroll process.
At YFS, we offer tax preparation services for individuals and small businesses. Individual tax preparation includes the federal (1040) and state income tax returns. Tax refund can be obtained within five days to six weeks depending on your choice of filing. We offer electronic filing, regular mailing in directly to the IRS. You can file as early as first week of January.
For our business customers, we file 1065, 1120, 990 Schedule C, we will simply prepare your business tax return based on the existing financial data that we have prepared in our accounting system. For our new customers, we will require that you provide us with your financial data in which we will need to review before we prepare your tax return.
We represent Taxpayers before the Internal Revenue Services if audited.