Business Services – Tax, Bookkeeping and Payroll
At W Marc Gilfillan CPA we specialize in 4 general areas of business services – Accounting, Bookkeeping, Payroll, and Taxes.
Marc Gilfillan has been a CPA in Cary, NC for more than 20 years. We have known each other for more than 10 years and Marc takes great care of our clients. The small business owners that need help are always asking, “Is he good?” and I can easily say, “Marc has one of the sharpest pencils in Cary!” He asks great questions, he’s experienced, and he could easily be the part-time CFO that you’ve always needed for your company! ~ Jim Bowdish, Financial Advisor at Edward Jones
Let’s face it, most small to medium sized business owners are pretty much on their own when they need advice on something besides routine bookkeeping and tax returns.
But, more importantly, they don’t want their business and its needs to get lost at a huge CPA firm. They want a CPA to give them the personal attention they deserve. They want an accountant who will take the time to help them make all kinds of decisions. And they want an advisor with specialized business and tax knowledge backed by years of experience.
That’s what you’ll find with W. Marc Gilfillan CPA. You’ll find an accountant who can give you the personalized advantages of having Chief Financial Officer on your team, without the expense. And you’ll be working with an accountant who offers you the bigger picture that comes from advanced degrees in both economics and business administration and all with over 20 years of experience talking to and working with businesses just like yours.
SAVE ON YOUR TAXES – CALL US TODAY at (919) 859-1100
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We use QuickBooks accounting software and provide the full range of bookkeeping services. Jodi Zumbach is our primary full charge bookkeeper. She has over 12 years of experience and is very knowledgable and capable.
We can function as your accounting and finance office – paying your bills, making deposits, reconciling the bank statement, providing you financial statements and reports, and in general, running that aspect of your business. And we do it for less than the cost of your full time staff bookkeeper and we also have built in CPA oversight of the process that your current bookkeeper can’t provide.
We can also function as your after-the-fact bookkeeper. You pay your own bills, make your deposits etc. Then, at the end of the month you bring us check stubs, bank statements and other information. We reconcile the bank (if you haven’t already done it) and input the information into our accounting program and then give you the reports necessary for your needs.
You may also do your own ‘books’ and we merely function as a reviewer to make sure everything got done correctly and is posted to the right account. Your QuickBooks consultant, so to speak.
You may want someone to help set up your accounting system for your business. We can consult on setting up your QuickBooks, training your people, and provide on-going assistance with the whole process.
After working with small businesses for over 20 years, we can pretty safely say that different businesses have different needs. We understand that. We tailor our services to fit your needs.
“Why should I use an outside service to process my payroll? I have only 2 employees.”
Whether you have 1, 2 or 100 employees, the reporting requirements are the same. You must file accurate payroll reports (accurate to the penny!), pay the appropriate payroll taxes (again, to the penny), pay the payroll taxes in a timely manner and complete and file the payroll reports (3 each quarter, up to 9 at year end!) also in an accurate and timely manner. The slightest deviation from any of these requirements results in heavy IRS and state penalties. When you face a 100% payroll tax penalty for not filing a report or paying the taxes in a timely manner, you will see us as cheap insurance to protect you from facing that situation.
“Why should I use you? How about the large payroll processing firms?
The answer is right in your question – “large payroll processing firms”. They are large, you are small. Your business means very little to them. And they are big and bureaucratic. They are inflexible. One of your employees just came in and is in trouble and needs his paycheck early this week. Try getting the big payroll outfit to cut you a payroll check “out of your cycle”. We are small and flexible. Your business is important to us. We answer the phone. We understand your urgent need for something right away. No beaucratic process. No checking with the district office. Just personal service. When you need it.
“Do you offer the same services as the big payroll outfits?”
“What else do you do to help me and my employees?”
There are a number of other issues the business owner must be aware of when you hire employees. The Immigration (I-9) form, for example. Are your subcontractors really employees? How do you know? What are the IRS guidelines on determining employee status? What about employee theft? Do you have a fraud prevention program at your business? These are the additional things we help with.
We tailor our payroll service to your needs, not the other way around. Tell us what you want.
Tax Preparation and Planning
For over 20 years, we have prepared corporate, partnership and sole proprietorship income tax returns. This includes assisting corporations, S corporations, partnerships, limited liability companies and individual business owners with their tax planning and preparation needs. We have developed strategies over the years to help reduce your taxes, if that is your goal.
But, it can be a two-edged sword. There might be other goals we need to consider. Do you need to look better, financially, to get a new bank loan? Are you needing financing for a new purchase? Are you considering selling the business in a couple of years? Maybe, minimizing taxes is not the goal. These other types of goals need to be considered when preparing the income tax return. You will want someone to talk to about these alternate and possibly conflicting goals and their respective tax consequences before the tax return for your business is prepared.
And if you have an S corporation, a partnership or a limited liability company, you know about Schedule K-1’s. Were yours done in a timely manner last year? At W. Marc Gilfillan CPA we strive to have all K-1’s produced and delivered in a timely manner.
And in that same vein, if your corporate or partnership return is not done in time and has to be put on extension that will be because you wanted it that way. At W. Marc Gilfillan CPA we get the tax returns done on time. We only file extensions when we haven’t gotten the tax information from you. If you have given us the information, your return will be done, on time.
More so now than ever before, tax planning will be a crucial need of businesses and individuals. Many new taxes are being thought of and proposed. Federal and state spending has led to deficits. Government (federal and state) will need more of our money. How can we structure our affairs to minimize the amount of taxes taken by government? Tax planning.
Talk to us about your concerns and your goals. Let’s work on a roadmap and plan of how to get there. Remember, whether you are a business or individual, if you fail to plan, you plan to fail. We’re ready to help you plan.