We can help you setup and maintain your non-profit organization's tax-exempt status by handling all the IRS reporting for you. ​ Each year the IRS requires most tax-exempt organizations to submit the Form 990 and its relations, which includes the following items. ​ Income Statement with very specific revenue and expense categories like donations, salaries, postage, rent... Balance Sheet with specific categories like cash, accounts receivable, accounts payable... Functional Ex

Bookkeeping is the process of maintaining your financial records of various transactions for your business. Records include total revenue, gains and losses, expenses, transaction dates, and many other details. Bookkeeping is the basis of accounting process and it is very important, no matter what business you are in. There are several advantages of maintaining proper bookkeeping for small businesses. Bookkeeping is required for every business by law. It helps business owners

Accounting for the entertainment industry requires a specific set of skills and financial expertise. At Phenomenal Tax & Accounting Services, LLC , we're highly experienced in working with entertainers just like you and have unique insights you can't get from the average accounting firm. We work with everyone from actors and movie production companies to solo musicians, bands, and professional athletes. Our entertainment accounting services help clients manage their personal

We leverage our M&E industry expertise to offer leadership in all tax disciplines, including business tax, indirect tax, international tax, transactional tax and tax-related issues associated with human capital. Our tax team works closely with other Phenomenal Tax & Accounting Services, LLC service lines to deliver integrated support in areas ranging from supply chain optimization and process improvement to financial accounting and reporting. We place particular emphasis on t

WASHINGTON — The Internal Revenue Service today reminded taxpayers of options available to them on IRS.gov to get information and tips about selecting qualified tax professionals. This is the third in a series of 10 IRS tips called the Tax Time Guide. These tips are designed to help taxpayers navigate common tax issues as this year’s April 18 deadline approaches. Taxpayers can use the IRS.gov/chooseataxpro website that includes a list of consumer tips for selecting a tax prof

Any tax professional with an IRS Preparer Tax Identification Number (PTIN) is authorized to prepare federal tax returns. However, tax professionals have differing levels of skills, education and expertise. An important difference in the types of practitioners is “representation rights.” Here is guidance on each credential and qualification: UNLIMITED REPRESENTATION RIGHTS: Enrolled agents, certified public accountants, and attorneys have unlimited representation rights before

It’s the time of the year when many taxpayers choose a tax preparer to help file a tax return. These taxpayers should choose their tax return preparer wisely.  This is because taxpayers are responsible for all the information on their income tax return. That’s true no matter who prepares the return. Here are ten tips for taxpayers to remember when selecting a preparer: Check the Preparer’s Qualifications. People can use the IRS Directory of Federal Tax Return Preparers with C