We provide a wide range of Tax and Accounting services to individuals and businesses
in a variety of industries. At Ontko, LLC, we strive to meet each client's specific needs in planning for the future and achieving their goals in an ever-changing financial and regulatory environment.
Our professional services include:
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Tax Preparation for Individuals and Businesses
Ontko, LLC works with a wide range of individuals and businesses in a variety of industries. Whether you're an individual, sole proprietor, partnership or corporation - Ontko, LLC can prepare your simple or complex federal and state tax returns ensuring you receive the refund you are entitled to. We will even review your prior year tax returns, looking to uncover missed tax deductions or errors that can result in additional tax refunds for you!
QuickBooks Support
Purchasing and setting up the correct QuickBooks product is a crucial and time consuming task. When done properly, you'll operate your business more efficiently and effectively. When done incorrectly, you could be losing profits and paying much more in taxes then you should be. Ontko, LLC provides the following QuickBooks support to help you operate your business more profitable.
Ontko, LLC offers the following solutions to help meet your QuickBooks needs:
Setup and Installation
We assist you with or setup for you your initial QuickBooks setup on your computer. From discussing with you and installing your personal preferences to establishing your lists of accounts, customers, vendors, payroll and reports, we will help you to use your software properly. For current users who have an inadequate setup and can't generate proper reports, Ontko, LLC can improve your current setup so you can start managing your business more effectively.
Personal Training
We will provide personal training at your location. Ontko, LLC will come to your office to provide hands-on instruction and answers to your questions. It's like a classroom in your office.
Transaction Review
Ontko, LLC can review your transactions, accounts and reports and inform you of any corrections, adjustments or reclassifications necessary so your financial information reflects the correct financial condition of your business.
Entity Selection
One of the first decisions you will make as a business owner is the form of business entity to establish. Whether you choose a sole proprietor, limited liability company, "S" corporation, partnership or other form of entity, from your company's inception through its growth and development, choosing the right form is crucial. Your decision can have longstanding tax implications that will impact the way you account for your business expenses, liabilities and the way you file your income taxes. Ontko, LLC can assist you in evaluating the advantages and disadvantages of each entity type.
Bookkeeping Services
Accurate bookkeeping, a time consuming and frustrating task, is essential to operating a successful business. Ontko, LLC will save you time and money organizing and keeping your books up to date so you can focus on operating your business.
IRS Representation
Our experience with tax authorities enables us to guide our clients when dealing with audits or letters from federal and state agencies. If you have been chosen for an audit or received a letter, contact Ontko, LLC to help answer the questions the IRS may be asking of you.
Non-Resident Tax Returns
Are you a foreign citizen with income in the United States? Maybe you're a foreign student or your visiting the U.S. with a temporary work Visa? Filling out the proper tax forms can be challenging and time consuming. Ontko, LLC will help you file the necessary tax forms and prevent problems with the IRS.
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Prior Year Tax Returns
Do you need to file past year tax returns? If you have not filed a prior year tax return, the IRS may have already filed one for you based on the income information they have. You'll likely be penalized at the highest rates without getting the benefit of any deductions. This often results in you paying more tax then you should. It's important to file your prior year tax returns as soon as possible even if you can't pay the tax due. We can file your back taxes and often help to reduce or even eliminate any tax penalties.
Foreign Income Tax Returns
Are you a U.S. citizen or resident with foreign income? You may be entitled to exclude nearly $100,000 from your taxable income. In addition, there are many other tax deductions and tax credits residents with foreign income may be entitled to. Our experience with clients across the globe has provided us with an extensive knowledge base in international taxation.
Foreign Bank Account Reporting
Do you have a financial interest in or a signature authority over a foreign financial account? This includes a bank account, brokerage account, mutual fund, trust, or other type of foreign financial account. The Bank Secrecy Act may require you to report the account annually to the Internal Revenue Service by filing (FinCEN 114), Report of Foreign Bank and Financial Accounts (FBAR). Proper and timely reporting of the assets is crucial to avoiding severe penalties imposed by the Internal Revenue Service. Ontko, LLC can file for you the proper informational returns for international tax filings and avoid the significant tax penalties.
Tax Projections and Tax Planning Strategies
We can't predict the future, but we can help you plan for it. Forecasting for the future is imperative to a company's success and for individuals that need to prepare for life changing events. We guide our clients with individually tailored tax planning and decision making strategies to minimize their tax liabilities, maximize their cash flow, and help obtain their financial goals. Don't overlook the advantages and tax savings you can enjoy with proper tax planning.
General Ledger and Financial Statement Preparation
To manage your cash effectively, you need to keep your accounts reconciled and proper. Whether monthly, quarterly, semi-annually or annually, we will keep your books current by reconciling your bank accounts and reviewing your deposits and expenses for accuracy. We'll look for fraud and proper authorizations, locate lost/missing and duplicate transactions, prepare adjusting journal entries to your general ledger and prepare the financial statements your business needs.
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