Best Certified Public Accountants in Asheville, NC

When forming a business you have multiple options of entity type. At the state level you can be a Corporation, Partnership or LLC. When registering with the IRS you can be taxed as a C-Corporation, S-Corporation or a Partnership. The purpose of the business, the ownership structure and the nature of the assets the business will hold determines the best entity type.

Even with the tax code constantly changing tax planning is a multi-year strategy. Whether it is the timing of major purchases, selection of accounting method for your tax return or preparing for a business sale/merger, the tax consequences can be significant. Utilizing all possible deductions and lower tax rates can have a significant difference in the after tax cash available to a business owner.

The process of reconciling your accounts monthly provides assurance to management that the reports they are using to run the business are complete and accurate. The month end process should include the selection of a closing date, reconciling cash and credit card accounts and recording non-cash entries such as depreciation.

As your business grows you may have the opportunity to bid on a job that requires a bond. The selection of the right bond agent along with having the proper financial information will make the application process for the bond easier. Financial statements for a construction company prepared by a CPA firm familiar with the industry can significantly help with the process of getting a construction bond.