SERVICES

Introduction

Accurate and timely accounting information is a necessity for any successful business. Meerae LLP can assist you on either a temporary or on-going basis.  Meerae LLP. provides a wide range of services to individuals and business in a variety of industries.  At Meerae LLP, 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.

Accounting Services

From startups to established enterprises, businesses rely on accurate and insightful financial information in order to maintain profitability and capitalize on new opportunities. Meerae LLP’s accounting services steer you closer to these goals with accurate record-keeping and reporting as well as support on financial issues such as initial accounting system setup, cost-containment, tax planning, and employee benefit.

These services include but are not limited to:
-General ledger and financial statement preparation
-Bookkeeping (Monthly, quarterly, or annual)
-Accounting system setup and support
-Payroll processing
-Personal financial statements
-Corporate tax planning and return preparation

We can set up financial reports for your view to streamline your business and save your valuable time.  These reports are important that guide your business in making financial decisions, planning, and evaluating performance.


Tax Services

Meerae LLP provides tax services for various types of businesses. We pride ourselves in our expertise in tax planning and tax preparation.

C-Corporation
A Corporation C needs to file an income tax return on form 1120 by the 15th day of the third month following the end of its tax year. Income of the C Corporation is taxed to the corporation first and then the distributed income in form of dividends is taxed to the shareholders.

S-Corporation
 A Corporation S needs to file an income tax return on form 1120-S by the 15th day of the third month following the end of its tax year. Generally a corporation S does not pay federal tax. Instead income or loss generated by a corporation S is passed through to shareholders and reported on the shareholders personal income tax return.

Partnership
A Partnership needs to file its income tax return on form 1065 by the 15th day of the fourth month following the end of its tax year. A partnership must file an annual information return to report the income, deductions, gains, losses, etc., from its operations, but it does not pay income tax. Instead it “passes through” any profits or losses to its partners. Each partner includes his or her share of the partnership’s items on his or her tax return.

Individual
Meerae LLP provides tax services for individuals. We like to work with clients in advance of actual filing dates to prepare and plan for the future.  The standard form for a U.S. individual filing a tax return is the 1040, which accounts for the gross income a person has earned annually. Filing requirements vary depending on marital status, dependents, and deductions that apply to the individual, including homeowners, students, and the self-employed.


Financial Planning and Analysis

Economic environment has been changed too fast for our clients to keep up with the changes. Our firm work closely with our individual clients to develop customized financial plan, advise and help them to reach their unique financial needs and goals such as savings for retirement, college education and a home, estate planning, etc.

We are here to help you to provide professional services such as analyzing and advising on investment portfolio, reviewing and rebalancing clients’ investment portfolio based on your specific financial goals, finding a new investment opportunity and solutions for current investment, and minimizing taxes on investment through planning.


IRS Representation

Professional representation can be vital during an audit, and our experience with tax authorities enables us to guide clients in their dealings with federal and state agencies.  If you have been chosen for an audit, the professional representation you can find with our firm can put many of your worries at bay.  We are ready and willing to answer any and all questions the IRS may be asking of you.


Bookkeeping/Write-up

Accurate record-keeping is essential to a successful business yet can also be complicated and time consuming.  Meerae LLP can help you with the organization and frequent tasks of bookkeeping so that you can focus on your core business.


Quickbook Accounting Help

QuickBooks can provide useful and timely information in the form of financial statements, reports and graphs. However, it can only provide this information if you purchase the right product and then install, setup and use it properly. We don’t just help you use the software, we help you use it more efficiently and more effectively.  Meerae LLP offers the following solutions to help meet your QuickBooks needs:

Personal Training
We train you personally, either one-on-one or several individuals within your organization at your company’s location.

Setup
We assist new QuickBooks users with initial setup including: EasyStep Interview, Preferences, Lists, Customers, Vendors, Employees, Banking and Reports. We also help experienced users manage their businesses more effectively by improving their current setup. Many users experience problems and lack the ability to generate and track important information as a result of inadequate setup.

Support
Our QuickBooks support service can assist you with any installation, setup or operation assistance you might need. In addition, our support is not limited just to the software part of it, but we can also provide accounting and payroll assistance.

Review
Our QuickBooks review service helps companies that have the human resources to perform daily accounting and payroll tasks, but need an accounting and payroll expert to review your transactions, accounts and reports. This review ensures that you receive timely, relevant and reliable financial information. We also inform you of any corrections, adjustments or reclassification necessary to ensure that the financial information you receive reflects the correct financial condition of your business. Reviews may be conducted at any time, but monthly reviews provide you with up-to-date information and feedback about your business.


Payroll Services

Meerae LLP’s payroll services can help you reduce the time spent on administration through developing and implementing a computerized payroll system that will facilitate processing, timely payment and preparation on tax returns.


Online Services

Remote Payroll Data Entry
Clients with secure online access can enter payroll data at their convenience and make it available to Meerae LLP Payroll information transmission is no longer restricted by paper or phone.

 Remote Check Printing
Electronic versions of clients’ calculated checks are transferred online to clients who can then print checks on blank or pre-printed check stock in their offices at their convenience.

Payroll Direct Deposit
Clients can offer direct deposit to their employees.

Web Employee
Clients’ employees can enter their payroll data online, can access to their payroll information, including paycheck stubs, W-2s and W-4s using a private and secure web portal.

Electronic Filing, and Payment of State and Federal Employment tax returns

Electronic Filing and Payment of Individual and Business Income tax Returns


Creating New Business

Meerae LLP specializes in creating new business organization. We assist in setting up new companies. From advice to problem solving to implementation, we are here to help in your business venture.  Please feel free to ask for details here.

  • Business Organization Consultations
  • New Business Organization & Set-up (Corporation, Partnership, LLC, etc.)
  • Federal, State, County & City Registrations
  • Corporation Book & Seal
  • Bank & Insurance Referrals

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Sole proprietorship
A sole proprietorship is an unincorporated business that is owned by one individual. It is the simplest form of business organization. A sole proprietorship is not a legal entity separate and apart from its owner. The owner has unlimited liability with regard to the sole proprietorship. This means that the owner’s personal assets are exposed without limitation to any and all liabilities related to the business. Income or loss of the business is reported by taxpayer on Schedule C of the owner’s form 1040. Net income is subject to 15.3% self employment tax.

 Partnership
A partnership is an unincorporated business owned by at least 2 individuals. Owners have unlimited liability with regard to the partnership. That means that generally owners can be held liable for the partnerships debts or liabilities unless they are limited partners. Partnership files a separate return on form 1065. A Partnership is a “pass thru” entity. That means that a partnership generally does not pay federal tax. Income or loss is “passed thru” to partners and is taxed on each personal tax return – subject to self employment tax.

C-Corporation
A corporation is a legal entity separate and distinct from its owners- shareholders. Shares of stock are evidence of ownership of a corporation owners’. Personal assets are generally protected from creditors. A Corporation files separate return on form-1120. Corporate income is not subject to Self Employment tax. Income is taxed to the corporation first and then income is distributed to shareholders in the form of dividends it is taxed a second time on the shareholders individual tax return. It’s commonly known as “double taxation” Eligible corporations can avoid double taxation by electing to be treated as an S corporation.

S-Corporation
S-Corporation has the same legal advantages as a regular Corporation. Corporation S reports income or loss on separate return on form 1120S. An S corporation is generally exempt from federal tax. This means that profits and losses generated by the corporation are passed thru to shareholders and added/reported on their personal tax returns.

Limited Liability Company
A limited liability company (LLC) is a legal entity formed under state law. Owners (called members) of the LLC are not personally liable for its debts An LLC may be classified for federal income tax purposes as a partnership, a “C” corporation, “S” corporation, or an entity disregarded for tax purposes.