John Preston Merritt provides a wide range of services to individuals and businesses in a variety of industries. At John Preston Merritt, we strive to meet each client's specific needs in planning for the future and achieving their goals in an ever-changing financial and regulatory environment. Our professional services include:
- Tax Management Services
- Assurance and Advisory Services
- Estate and Trust Planning and Tax Preparation
- Entity Selection and Restructuring
Tax Management Services
At J. Preston Merritt, we guide our clients through a full range of tax planning and preparation decisions with strategies that minimize your tax liabilities, maximize cash flow and keep you on track to reach your financial goals. We help you to be certain that you comply with an ever changing landscape of regulatory tax and financial reporting requirements. Our professionals have over 50 years experience in dealing with the IRS and State authorities, and thorough research and constant monitoring of tax changes allows us to optimize financial opportunities and prevent you from going astray of the law by failure to properly complete all required forms and returns.
From start-ups to established enterprises, businesses rely on accurate and insightful financial information in order to maintain profitability and capitalize on new opportunities. Our 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. We are certified QuickBooks Advisors and can help you develop, or adapt your current system, your data processing and accounting system that will give you the information you need to manage your organization efficiently and effectively.
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
Assurance and Advisory Services
At J. Preston Merritt, we focus on building close client relationships that add long-term value. This includes assuring the integrity 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:
- Audits, reviews, and compilations
- Entity selection and restructuring
- Accounting software selection, implementation, and support
- Financial projections and forecasts
- Debt and finances advising
- Mergers and acquisitions
- Transaction structuring and negotiations
- Business succession
Audits, Reviews, and Compilation
J. Preston Merritt's financial statement services comprise all three levels of assurance depending on your company's needs.
Audits offer the highest level of assurance to third parties, and include in-depth examination and confirmation of account balances, inventories, and selected transactions. We design our audits to meet professional standards and at the same time provide you with meaningful comments that can help your organization improve systems and operations.
Reviews provide limited assurance to outside interests and involve inquiries and analytical procedures that confirm financial statement matters and identify any items requiring further analysis. We perform reviews to ensure the integrity of your data.
Compilations are usually requested for internal purposes and are based upon information provided by a company's management. They do not offer assurance but may involve some adjustment to accounting records.
Estate and Trust Planning and Tax Preparation
Effective estate and trust planning can ensure financial security for loved ones. For businesses, it assures a smooth succession of ownership. We work with your attorney to help you navigate the complex and shifting tax laws to facilitate the transfer of assets and minimize the tax liability of your beneficiaries. Everyone should have a well thought out plan as to how to disburse one's estate so as to avoid complications and to be sure wishes are followed. Having your taxes and estate thoroughly and carefully planned will ensure that your loved ones don't have unnecessary complications and that you assets are passed where you want them to go.
Professional representation is vital during an audit, and our experience with tax authorities enables us to guide clients in their dealings with both Federal and State agencies. If you have been selected for an audit, the professional representation you find with our firm will lessen the stress. Most audits can be avoided with careful preparation of tax returns, but should you be notified of an audit, professional representation can both ensure a proper presentation of the facts and preservation of your rights while under examination.
We have successfully represented many businesses and individuals in income tax, sales tax and payroll tax audits and other compliance audits as well as negotiated offers in compromise that have dramatically reduced taxpayer assessments.
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, John Preston Merritt 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.
QuickBooks Accounting Help and Assistance
QuickBooks can provide useful and timely information in the form of financial statements, reports and graphs. However, it can only provide this information if you purchase the right product and then install, setup and use it properly. We don't just help you use the software, we help you use it more efficiently and more effectively.
John Preston Merritt offers the following solutions to help meet your QuickBooks needs:
We train you personally! Either one-on-one or several individuals within your organization at your company's location.
We install QuickBooks on your stand alone computer or in a network environment, in either single- or multi-user mode.
We assist new QuickBooks users with initial setup including: EasyStep Interview, Preferences, Lists, Customers, Vendors, Employees, Banking and Reports. We also help experienced users manage their businesses more effectively by improving their current setup. Many users experience problems and lack the ability to generate and track important information as a result of inadequate setup.
Our QuickBooks support service can assist you with any installation, setup or operation assistance you might need. In addition, our support is not limited just to the software part of it, but we can also provide accounting and payroll assistance.
Our QuickBooks review service helps companies that have the human resources to perform daily accounting and payroll tasks, but need an accounting and payroll expert to review your transactions, accounts and reports. This review ensures that you receive timely, relevant and reliable financial information. We also inform you of any corrections, adjustments or reclassifications necessary to ensure that the financial information you receive reflects the correct financial condition of your business. Reviews may be conducted at any time, but monthly reviews provide you with up-to-date information and feedback about your business.