1. New Business Set Up
We can provide the following services to set up a new business:-
a) To set up a new corporation / LLC
b) To set up a Partnership/Sole Proprietor business with County
c) To apply for Federal Tax ID number for new businesses
d) To apply for Sales & Use Tax Registration
e) To apply for Sub Chapter ‘S’ Corporation at Federal & NYS
f) To apply for Registration with Department of Labor
g) To help for Workers’ Compensation & Disability Insurance Policy
h) To help for business Liability & Umbrella Insurance
i) To guide for Record keeping system
j) To guide for quarterly & Annual business Taxes & Tax Returns
k) To guide for Payroll & Payroll Taxes for employees and owners.
l) To set up Bookkeeping system suitable for business
2. Tax Management Services
At Larry Associates, Inc we guide our clients through a full range of tax planning & preparation decisions with strategies that minimize your tax liability and maximize your cash flow and keep you track to your financial goals. Our expertise, experience, analysis and thorough research allow us to optimize financial opportunity to be found in existing as well as recently altered tax laws.
Income tax services includes:-
a) Tax return Preparation for
i. Corporationb) Representing Clients during tax audit
iv. Non-profit Organization
c) Tax Planning for Corporation and Individual
d) Financial & Estate Planning
e) Reduce Taxes within legal framework
f) Payroll Tax Returns including W2 and W3
We also can provide the following services to cut down your taxes:-
a) Tax Planning for Corporation: We will sit down with you and will discuss the past, present and future goals of your business, We will estimate with your help the profits of your business and estimated taxes on the same. Then we will study and apply Tax Planning techniques for reduction. We will work within legal boundaries. The amount saved from tax reduction can help you to expand your business faster.
b) Tax Planning for Individual: We will discuss with you about your family members, their earnings, your current and future goals, different types of income & expenses and will apply the different tax planning techniques and will reduce the taxes. We will work within legal boundaries.
3. Accounting Services
From start-ups to established enterprises, businesses rely on accurate and insightful financial information in order to maintain profitability and capitalize on new opportunitie, Larry Associates, Inc.'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, investments, and employee benefit and profit-sharing plans.
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
- Cash flow budgeting and forecasting
- Personal financial statements
- Employee benefit and profit-sharing plans
- Corporate tax planning and return preparation
- Litigation support
We can set up financial reports for your view to streamline your business and save your valuable time. These reports are important tools that can guide your business in making financial decisions, planning, and evaluating performance.
4. Improve Your Business Profit
We can provide following services to help you to improve the profit of your business:-
a) To prepare monthly / quarterly and year end Financial Statement
b) To prepare Projected Income Statement
c) To prepare Projected Cash Flow Statement
d) To prepare Fixed and Flexible Budget
e) To introduce the concept of Zero Base Budget
f) To prepare Department wise Expenses Budget
g) To prepare Capital Expenditure Budget
h) To prepare Break Even Point of Production & Sales
i) To workout profit at different levels of Productivity in Manufacturing business
j) Analytical review of all expenses and to divide into controllable & non-controllable expenses.
k) Analyze the profits / loss of different products lines and study the product lines which makes big losses
l) To review the marketing strategy of different product lines
m) Inventory control for slow moving & non moving items
n) To maintain reasonable level of inventory & accounts receivable without affecting production & sales cycle to roll over working capital faster for improving profits.
o) Analyze the major purchase items & other expenses for cost reduction
p) Review the effective utilization of men power resources
q) Review the major fixed expenses for cost reduction
r) Review all major expense ratios with competitor’s expense ratios considering the difference in production & sales.
s) Review all financial ratios which contributes to profit
t) To prepare precise Management Reporting System for effective control management
5. Internal Control System & Internal Audit
It is very difficult to detect frauds and manipulations in big business. The Internal Control System needs to be strong to avoid the possibility for frauds and manipulations. We will review Internal Control System by using the techniques of Flow Chart & Internal Control Questionnaire. We will detect the loopholes in the Internal Control System. We will also consider the cost aspects of sound Internal Control System.
Internal Audit: We can conduct the following types of Audit:
a) Financial Audit
b) Operational Audit
c) Management Audit
6. Commercial & Residential Loans
Larry Associates, Inc. can provide following services to help you get loans for your Business and Residence
a) Commercial Loans:
i. To explain various types of credit facility & loans available from Banks & to determine which facility is best for your businessb) Residential Loans:
ii. To prepare Business Plan for the Commercial Loan
iii. To prepare Projected Financial Statement for your business
iv. To negotiate with Bank and/or Brokers to get the best terms and conditions for the loan
v. To help you complete the documents and paper work.
i. To explain Mortgage loans with different terms and conditions and to advise which types of Loan is best for you considering your income, age & other factors
ii. To get the pre qualification of Loan before you plan to purchase the house
ii. To help you to decide the right price for the property before you make offer for the house or property
iii. To help you to complete the Loan package before you give it to bank
iv. To explain the procedure for initial agreement, down payment, good faith estimate for closing cost, hiring an Attorney, Title clearance, Mortgage loan approval & closing the deal.
7. International Consulting
We can provide the following services:
a) To tie up Joint Venture for a developing Company in the world from a reputed Company of USA
b) To arrange transfer of Technology from USA company to a new developing company in the world
c) To arrange Marketing Agency from USA Manufacturer to sell the products in other countries
d) To negotiate with different companies and finalize the best terms and conditions for the deal
e) To prepare an Agreement for Joint Venture, Transfer of Technology and Marketing Agency
f) To set up a new corporation in USA for a foreign company
g) To provide Tax Planning & Consulting services to foreign companies
8. Assurance and Advisory Services
At Larry Associates, Inc., we focus on building close client relationships that add long-term value. This includes assuring the solidity of financial records, evaluating financial procedures and working to produce strategies that help our clients face the myriad challenges of business planning and execution. Our clients benefit from objective analysis to assist in controlling costs, increasing efficiency, and implementing new technologies and procedures that take advantage of changes in the marketplace, accounting standards, and tax law. Our assurance services will improve information quality or its context, meaning more success for your business.
These services include but are not limited to:
- Reviews and compilations
- Entity selection and restructuring
- Accounting software selection, implementation, and support
- Business valuations
- Financial projections and forecasts
- Debt and finances advising
- Mergers and acquisitions
- Transaction structuring and negotiations
- Business succession
9. Financial & Retirement Planning
Larry Associates, Inc.'s goal is to help you reach your financial goals and maintain financial independence through a comfortable retirement. We can guide you through tough decision-making processes such as asset allocation, investment performance monitoring, college education funding, retirement plans, insurance, and tax, estate, and business succession planning. Whether you are developing an investment strategy or evaluating current investments, Larry Associates, Inc. can ensure that your portfolio will take into account tax implications for an advantageous after-tax return. The road to retirement is a long one and we can help you to take the proper steps to reach your goals.
10. IRS & STATE 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.
11. Bookkeeping / Writeup
Accurate record-keeping is essential to a successful business yet can also be complicated and time consuming. Larry Associates, Inc. can help you with the organization and day-to-day tasks of bookkeeping so that you can focus on your core business.
12. Entity Selection and Restructuring
Your business entity has a large impact on your taxes and other liabilities. From your company's inception through its growth and development, Larry Associates, Inc. can advise you on choosing an entity type and later restructuring if advantageous. With our knowledge and expertise, you will always be receiving the most advantageous entity type for the functions your business performs.
13. Services to Overseas Client
Larry Associates, Inc is specialize in providing business accounting, tax and other consulting services to overseas clients.
Larry Associates, Inc provides following services for overseas client:
a) To decide type of entity to be set up in USA
b) Registration with Tax department
c) Registration with Department of Labor & all Employment Tax department
d) To help in obtaining Workers’ Compensation policy, disability Insurance policy and business liability insurance policy
e) To explain Employee & Employer’s payroll taxes
f) Preparation of Payroll and Payroll Tax Return and payment of various taxes.
g) To operate the bank account for overseas client with honesty and integrity
h) To prepare year-end financial statement
i) To prepare year-end corporation Tax Return
j) To organize the records for US operations
k) To provide guidance on various US Laws & Regulations
l) To protect the overseas company and the Director from civil and criminal laws.