Our Services
Plan, manage, and comply with your tax obligations with our team of tax professionals. Make smart decisions for long-term financial health and strength.
Accounting
Accounting
You’ve worked hard to build your business, and we can certainly relate.
Keeping accurate financial reports is important to track your progress and identify areas for improvement.
At Exact Tax, we offer financial statement preparation and reconciliation. Our qualified staff assist clients with general ledger review, monthly, quarterly, and annual close process, accrual basis accounting, bank reconciliations, cash receipts journal entries, and more.
We offer a full range of audit services, including reviews of individual returns, partnerships, corporations, and fiduciary returns.
Contact us and let us be a part of your team to help take your company to the next level of growth.
Individual & Business Tax Preparations
Individual & Business Tax Preparations
The importance of having a professional handle your tax planning and preparation cannot be overstated.
The federal tax codes change every year and are thousands of pages long.
(This translates to between 2,600 and 70,000-plus pages, depending on which source you believe. And according to an IRS publication, “The Complexity of the Tax Code,” there are 3.7 million words in the current code, with changes implemented daily.)
We prepare and advise on individual and business tax filings, including LLC, S-Corporation, C-Corporation, Sole Proprietorship, and Trusts.
Every tax return is different. But at Exact Tax, Inc., we make sure each of our clients pays the minimal taxes possible.
We Go above and Beyond
We go above and beyond to help clients understand their taxes by boiling down the most complex tax codes.
At Exact Tax, Inc., you can expect an enjoyable tax preparation process.
You can relax with the confidence of knowing that we are committed to solving your tax pain, no matter how routine or complex your issues are.
Every client’s tax situation is unique, so fees will vary based on complexity. Please call us for a customized quote and consultation.
Bookkeeping
Bookkeeping
Exact Tax has been a full service bookkeeper and business consulting firm servicing San Gabriel and the surrounding area since 2007. We have built an excellent reputation and gained many loyal clients by going the extra mile to help individuals and businesses keep their books and accounts in order. We understand first-hand the unique needs of small businesses across many industries, such as:
- Retail
- Food
- Professional services
- Manufacturing
- More
Our bookkeeping services include accounts receivable and payable, payroll posting, account reconciliation, financial statement preparation, and review.
Why Use Bookkeeping Services?
If not, you may not realize how well or badly the business is actually doing and be late in making the appropriate changes. Also, if you’re not precise in recording your income and expenses, you may end up paying more taxes than you should. Or just as bad, not paying enough, which can get you in hot water with the I.R.S.. You don’t want that to happen.
Whether you’re self employed or have 100 employees, virtual bookkeeping assistance from professionals that do it all day, 5 days a week can be a financial benefit to your business. For starters, unloading all or some of your bookkeeping duties can free up you or your staff’s time to concentrate on activities that produce more income.
Having the bookkeeping, accounting and tax professionals at Exact Tax, inc. oversee your bookkeeping ensures your books are kept up to date with income and expenses categorized appropriately to maximize any tax benefits. Whether you need full-time service or just once-a-month assistance, we have flexible bookkeeping packages to meet your needs.
The 4 R’S
- Retrieving online documents, collecting invoices, and receipts.
- Recording daily business transactions and identifying proper categories of expenses.
- Reconciling financial statements to properly reflect the condition of the business.
- Report profit and loss and balance sheet statements monthly and/or quarterly.
Our aim is to provide your business peace of mind so you can spend more time focused on growing the business. At the same time, we will provide you with accurate financial reports that will help you make good strategic business decisions and minimize the amount of taxes needed to be paid.
Featuring Quickbooks
Some of the advantages of using Quickbooks for your business are:
- Sync your bank accounts and credit cards
- Automatically import and categorize transactions
- Connect to popular Apps and easily snap photos of receipts
- Invoicing and tracking systems
- Track and manage sales tax
- Track miles
- Payroll options
- Issue 1099’s
- Build custom financial reports
- Instantly generate financial reports such as profit and loss, balance sheets, accounts receivable/payables, and more
- Have multiple users
- And much more
Benefits For Your Business
Maintaining a clean set of books will help you produce accurate reports such as profit and loss statements, balance sheets, accounts receivable/payable, etc. that result in the following business benefits:
- Maximize tax deductions
- Free up staff time for more productive and income generating activities
- Make informed business, marketing, pricing, staffing decisions and more
- Keep IRS off your back
Our aim is to provide your business peace of mind so you can spend more time focused on growing the business. At the same time, we will provide you with accurate financial reports that will help you make good strategic business decisions and minimize the amount of taxes needed to be paid.
New Company Registration
New Company Registeration
Thinking of starting your own business? Choosing your business entity has both legal/liability and tax implications. So, it’s not something that should be taken lightly. The wrong entity can cost you money every year.
Getting off to a great start requires extensive planning, preparation, and following some very specific steps for setup. Exact Tax, Inc. can assist you with the technicalities of forming an LLC (Limited Liability Company), S-Corp, C-Corp, or DBA so that you can concentrate on the exciting part of bringing your business vision to life.
Our Services For New Companies
We offer additional services that are useful to entrepreneurs, like entity name search and trademark registration.
Our experts at Exact Tax, inc. will help you choose and register your business entity based upon the most efficient tax strategy that fits your type of business. We will also:
- Handle all necessary paperwork.
- Acquire EIN number
- Acquire Corporation number
- Register with Secretary of State
- File Statement of Information
- Create Operating Agreement
I’m Already in Business. Should I Change My Entity?
As a business grows, so does its financial situation. As stated earlier, each type of business entity carries different tax implications. So a DBA entity may have been appropriate as a startup, but you may be missing out on tax benefits as a $500k/year business.
Contact our experts for a free consultation and let them assess your situation to see if a change in entity can give you some financial advantages.
Cost Segregation
Cost Segregation
Cost segregation studies have become an increasingly valuable but not commonly understood tax strategy for taxpayers who own, are constructing, renovating or acquiring real estate. A cost segregation study decreases your tax liability while adding cash to your company’s bottom line. The tax benefits can be applied to various types of real estate: apartments, rental homes, and any commercial building as long as they are not your primary residence. We will be happy to explain the options in a consultation to see if cost segregation can save you money.
Payroll
Payroll
Your business’s employees are your most important resource, and you cannot afford payroll errors. Exact Tax payroll specialists handle large and small business accounts accurately and expediently to keep your business in compliance. We provide direct deposit or checks and guaranteed-accurate documentation for your employees.
Exact Tax specializes in every aspect of the payroll process and we stay up to date with the ever-changing payroll labor laws.
Other Payroll Services
Some of the other services provided with our payroll service include:
- Obtain wage and hour information from the employer and use that information to calculate gross wages, subtract withholdings and deductions then print and send out direct deposit/payroll checks
- Make payroll tax payments with the proper agencies
- Prepare all employment tax filings
- Mail out W-2 and 1099-Misc forms at year-end
- ET charges quarterly for payroll services. Fees will be determined based on the number of employees, the schedule of pay periods, and whether or not direct deposits are required
Contact us now for a consultation (1st 15 minutes free) and let our experts help you stay current with all payroll laws, maintain good records, send checks and documentation on time and give you peace of mind.
Sales Tax Preparation
Sales Tax Preparation
If you have to file sales tax returns, please consult us. This is an area that can really cause headaches. Mistakes or insufficient records can lead to red flags, accusations of under-reporting, aggressive demands for excessive payment, or worse. Exact Tax can perform ad hoc guidance, consulting, and support as needed.
Entrust Your Individual & Business Tax Requirements to Our Expert Hands!
Get In Touch
Want to make tax-smart decisions for your individual and business assets? Get in touch with us.
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Monterey Park
1024 East Garvey Avenue
Monterey Park, CA 91755
(626) 573-0788
Lincoln heights
2221 North Broadway
Los Angeles, CA 90031
(323) 226-1160
MPK Hours
Friday: 9 am – 1 pm PST
lh Hours
Monday – Thursday, 9 am – 5:30 pm PST
Friday: Closed
info@exacttaxinc.com