ACCOUNTING/BOOKKEEPING AND PAYROLL SERVICES

Your business relies on accurate financial information to achieve the profitability goals you have set for your company. The financials will also assist in capitalizing on future opportunities to bring your business to the next level. Our quality accounting services will provide accurate record-keeping and financial reporting that will allow you to monitor the direction of your business. We will design accounting systems that will support staying ahead of any financial issues that your company can experience. The design of the accounting system will address supporting tax planning and other goals you have for the business. We have the capacity to work with most computerized accounting system programs. Our staff are experts in QuickBooks and Peachtree computerized accounting system (but are not limited to those systems).

Our accounting and bookkeeping services include but are not limited to:

• Accounting system setup and support
• Bookkeeping (Monthly, quarterly, or annual)
• General ledger and financial statement preparation
• Payroll processing, quarterly, and annual reporting
• Cash flow budgeting and forecasting
• Personal and Business financial statements
• Business tax return preparation and quarterly report

INCOME TAX PREPARATION SERVICES

Income Tax Preparation for Individuals and Businesses

• We offer our clients a full range of tax planning strategies and preparation services that can minimize your tax liabilities and maximize your cash flow throughout the year. We provide planning that will keep you on track for your personal and business financial goals. Our strategies will ensure we take advantage of all deduction and credits that will benefit. We are diligent, knowledgeable, and up to date on the tax laws. We will organize your receipts, bank statements and bills to in order to capture all of the financial activity that will support the maximum deductions and credits on your tax return. We also provide you with secured electronic copies of all your tax returns and documents for easy access and storage.


• Our tax preparation services are quick and accurate. We offer our clients drop off services or we can prepare your return while you wait. We have secured systems to receive documents electronically.
• We prepare all the tax forms and schedule for every individual and businesses, 1040, 1040 EZ, 1040A. We specialize in Schedule A - Itemized Deductions, Rental Property Schedule E, Earned Income Credits, and Small Businesses – Schedule C. We have considerable experience with college deductions and credits.
• We process federal and state tax returns electronically. You can receive your tax refunds within 14 – 21 business days. We also offer refunds to be disbursed in several different ways:
  • Direct Deposit in your bank account (s), (your refund can be split over different accounts utilizing an IRS designated form 8888.
  • Receive a refund check at your home or pick up check at our office.
  • Your refund can be disbursed on a debit card that will allow you to access your funds through an ATM or designated retail stores throughout the USA.
• We also specialize in preparing tax returns for Professional Corporations (P.C.), specifically for Dentist and Dental Practices. We also provide assistance with completing the IRS form 2553 Election by Small Business to be treated as a Subchapter S corporation for tax purposes.


• We also prepare corporate tax returns including 1120S form U.S Tax Return for S Corporation and 990 or 990 EZ Return of Organization Exempt from Income Tax returns.

BUSINESS CONSULTING AND MANAGEMENT SERVICES

Carrington Financial Services, LLC provides expert advice on setting up or maintaining your business. We assist businesses in improving their performance and efficiencies. Our expert staff will help create solutions to help your company reach its business goals. We are also available to train your employees and provide interim management services to support the transition phase of your company.

These services include but are not limited to:

• Entity selection and restructuring
• Accounting software selection, implementation, and support
• Financial projections and forecasts
• Debt and finances advising
• Hiring Policies and Procedures for Employees and Independent Contractors
• Assistance with defining the staffing pattern to support your business
• We prepare your company’s 1099s for Independent Contractors
• We assist with choosing an outsourced payroll company.
• Act a Controller to save cost of hiring accounting supervisor or manager.

ADMINISTRATIVE BACK OFFICE SUPPORT SERVICES FOR SMALL BUSINESSES AND NOT FOR PROFIT ORGANIZATIONS

Carrington Financial Services, LLC understands that small businesses and not for profit organizations have challenges meeting the needs of the day to day operations of the business. We are available to provide all of your day to day financial management and administrative needs. We offer the following:

• Customize and provide financial reports including accounts payable reports to assist the Owner and the Management Team in managing the day to day operations of the business.
• Input the financial data into the Computerized Accounting system.


• Create Financial Policies and Procedures to ensure effective internal controls to protect the organization from fraud and theft and assist with effective management of the day to day financial activity. Also, to ensure financial statements are in compliance with the Generally Accepted Accounting Principles. The objective is to ensure appropriate levels of internal controls are in place to ensure prevention of misuse or appropriations of funds. Also, to ensure that all financial information and reporting is current and accurate throughout the calendar or fiscal year.
• Create an annual budget for this business or organization. We will utilize the previous year’s activity to establish the annual budget.
• Meet with the Owner and the Management Team to identify the tools or reports needed for managing the operational activities of the organization. This process will also help with defining the structure to support internal controls.
• Review and ensure the chart of accounts reflect the financial activity of the organization. Customized financial reports will be created for each stream of revenue and its related expenses. These reports will provide the Owner and Management Team with a tool to manage the financial activity of the specified revenue with efficiency.
• Day to Day/Week to Week financial data management to include:
1. Organize financial records such as invoices, expenses, vendors, bank statements for input into the accounting system.
2. Prepare all documents (bills) for data entry into the QuickBooks system.
3. Process payroll on a weekly basis
4. Prepare disbursement checks for bill payment to be mailed prior to due date

RETIREMENT, ESTATE, AND TRUST PLANNING SERVICES

Effective estate and trust planning can ensure financial security for loved ones. For businesses, it can maintain a smooth succession of ownership. Carrington Financial Services role is to assist you working through the complex and shifting tax laws to facilitate the transfer of assets and minimize the tax liability of beneficiaries. Everyone should have a well-thought-out plan as to how to distribute the assets left in one's estate so to avoid complications and to be sure that the individual’s wishes are followed. Careful, well thought out plans will ensure that your loved ones don't have any complications to deal with during a time of loss.

Financial and Retirement Planning

Carrington Financial Services’ goal is to help you reach your financial goals and maintain financial independence at 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, we can ensure that your portfolio will take into account tax implications for an advantageous after-tax return. We can help you to define the proper steps to reach your retirement goals.

DEBT REDUCTION AND FINANCIAL MANAGEMENT PLANS

Our Debt Management/Credit Counselors can assist clients with developing plans that will reduce their debt as their credit is being re-established.

• Create budgets, spending and savings plans.
• Bill paying services to alleviate the burden and hassle of ensuring timely payments of all your monthly bills. This service includes monthly meetings to monitor budgets and to provide a status report on how well they are managing in relation to their goals
• Credit repair
• Demonstration of how to review and remove inaccurate negative items on their credit reports
• Quarterly meetings to ensure accurate reporting continues

Financing options are available to lower debt through our access of debt management and financing resources. These options can lower monthly payments and reduce the total amount of the debt over the life of the set terms and can save you money over time and increase your cash flow during the year. Our Debt Management/Credit Counselors are experts in establishing the best plans to meet your financial goals.