Learn More About Our Services


Accounting Services

CFO Services

Helping small business owners achieve thousands in savings by employing proactive tax strategies.

Entrepreneurs, how much would you love to have a tax expert accountant AND bookkeeper combined into one entity that specializes in your industry?  

What you receive as a client within our focused specialty is a value-based wealth partner that can perform all of the functions of a full-cycle bookkeeper - and takes it to the next level in terms of transactional analysis and the long-term financial health of your business.  You are basically looking at a Chief Financial Officer, at a fraction of the cost.

At Owings Tax & Accounting we take the time to know the ins and outs, stay current with continuing professional education, and speak the language of a very special group of businesses:

How would feel you about someone working for YOU that understands:

  • Overall business oversight: timely payables, lines of credit monitoring, and positive cash flow management achieved by hands-on bookkeeper oversight and financial reporting.
  • 21st century technological advances for banking, secure document transfer, and storage.
  • All reports necessary to track the lifeblood and emergent necessities of your business in a timely fashion.
  • A financial “Wealth Partner,” that is reliable and compassionate—and personally invested in your business.
  • An understanding of tax planning and preparation as well as the necessity for timely year-end reporting.

Take a look at our guide to real estate specialty tax deductions ==> Real Estate Pro Tax Deductions

We are invested in you keeping as much of your hard-earned money for yourself as possible!

Are you ready to have the freedom to do what YOU do best in your real estate businesswithout the headaches of the financial complications?  Can you imagine a holistic bookkeeping solution that anticipates your reporting, payments, cash flow, and credit needs before you even have a chance to begin worrying about it?

It boils down to this: you do what you do best for your valued clients, and never worry about the books or tax compliance again. 

Book your strategy call now: Schedule time with me 

Financial Statements

Financial Statement preparation for our specialty business clients is an included service for our CFO services clients.  Depending on your needs, monthly, quarterly, and year-end balance sheets and detailed operating statements are prepared and analyzed on a timely basis.

The state-of-the-art accounting software used by our office can provide helpful comparisons and calculations for effective, practical business analysis.  Most importantly, we are here and eager to assist you in understanding exactly what your statements are saying to you, and ensuring that your information is resulting in the most wealth creation possible within your business model.

At the very least we can provide monthly banking reconciliation, balance sheet, and profit and loss reports.  Additionally, many businesses are able to plan ahead for future wealth building with statements of cash flows.  Many other reports are available as well.

Payroll Services

Total payroll services for existing CFO Services and STRAP clients are available for those small businesses with employees.  We partner with one of the largest small business payroll providers in America at a very competitive rate, billed directly from the business checking account associated with payroll.

Additionally, as a "solopreneur" S Corp employee officer your payroll tax, withholdings, and unemployment insurance needs are provided directly by our firm as part of a greater holistic service for S Corporation clients.  

Services include: set-up and maintenance of all records, withholdings of tax and benefit contributions, Federal and State tax filings including Forms 941 and the federal unemployment Form 940, issuance of checks or direct deposits, and preparation of all W-2's and 1099 forms.


Tax Services

STRAP

STRAP = STRATEGIC TAX-RELATED ANALYSIS & PREPARATION

 

Helping small business owners achieve thousands in tax savings by employing proactive tax strategies.

 

Saves you, the small businessperson, thousands of dollars each year in Self-Employment taxes that are totally avoidable.

Who is it for?

Small business owners who are beginning to enjoy success. 

You're starting to make $50,000 or more a year in net income,

...and expect to see continued growth and business wealth for years to come.

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In order to realize these tax savings we will take three steps:

  1. Tax Savings - Together we will ensure that all the proper documentation is submitted and accurate in order to become an S Corp, so that you will benefit from becoming an officer/employee to your own business.
  2. Get Clear -  Become crystal clear on your financial situation. This will ensure we avoid any penalties and fees that come from underpaying your taxes and continue to save you money!
  3. Compliance Strategy - To keep your business organized and start paying yourself a reasonable salary. We will implement this strategy involving payroll and state compliance.

This program is different simply based on client-centric time.

Many will help you with the S-Corp election, but they do NOT actually keep you in compliance ALL YEAR long.

One of my most recent clients has saved over $20k in one Year by saying YES.

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 We will do all the heavy lifting of your monthly and quarterly compliance filings.

 All you have to do is focus on MAKING MONEY in your business!

 To learn more click Schedule Time with Me, and let the savings begin!

 

Tax Debt Resolution

Do you owe back taxes?  Have you recently received a letter from the IRS, and they are asking for a lot more money than you bargained for?

The IRS will convert 1099 forms received by them from parties that have paid you in the past into a short-form 1040.  What happens next is that they generate a tax bill that does not give you the benefit of writing off ordinary expenses, tack on interest and penalties, and send you an unpleasant surprise!

Sound familiar?

We have extensive experience in filing prior-year tax returns, and we can catch you up on your past year filings, creating a strategy for the timing of submitting them, and then help you every step of the way toward resolving catastrophic debt.

You may file an installment agreement with the IRS to get the ball rolling.

But what if you owe $25,000, $50,000, $100,000 or more by the time it’s all said and done?

As an Enrolled Agent Eric Owings will represent you before the IRS, handling those nerve-wracking communications for you. 

For large past-due tax obligation an Offer in Compromise (OIC) lets taxpayers permanently settle their tax debt for less than the amount they owe.  What they will do for you depends largely on their perceived ability of the taxpayer to pay.

Many people are able to settle their tax debt for quite a bit less than the original tax liability, often as little as less than 10% of the original debt. 

There is no guarantee, and every situation is different.  

We are happy to provide a full range of resolution as well as representation services.  Quite often people just find themselves frustrated by their inability to negotiate with the IRS.  This is what we do, and we love to help good people navigate these uncertain waters.

Tax Planning

Most people feel (quite naturally) that paying taxes is a necessary once-a-year burden.  Get it done for the year, then forget about for 10 months until the next year comes around.  We understand that feeling, and not only want to help, but love doing so.  Allow us to help you throughout the year, and say goodbye to that dreadful feeling that grows in your lower belly each March and April.

It really is possible to have a trouble-free and harmonious tax season.  Let us show you how simple and satisfying that feels!  A little prior planning goes a long way toward inner business peace, and as an extra incentive you'll also find more hidden wealth on your bottom line in the process.

Tax planning and forecasting services for individual and small business clients is a core competency of our firm. Effective tax minimization begins with long-term tax strategizing to establish overall objectives, and is maintained with conscientious and consistent annual tax forecasting, and quarterly review.

Business Tax Returns

Individual tax preparation services are now offered exclusively as a value-added service for our monthly recurring services clients, under one of the following categories:

  • STRAP
  • CFO Services
  • Back Tax Debt Resolution

 

Individual Tax Returns

Individual tax preparation services are now offered exclusively as a value-added service for our monthly recurring services clients, under one of the following categories:

  • STRAP
  • CFO Services
  • Back Tax Debt Resolution

 



 

Send Us a Message

We would love to hear from you!

eric@owingsllc.com

Get clarity on your tax and accounting situation