Our CEO, Jeremy A. Johnson, CPA, has a track record of success in accounting, on-demand CFO services, and strategic tax planning. So, if you’re looking for a partner, advisor, and financial leader to modernize your business, you’ve found him. In this case, shareholders, investors, tax authorities, management, and suppliers are interested in the entity’s financial position, and that’s what for-profit accounting focuses on. Bookkeeping for a nonprofit is vital because it proves how an organization is spending its funds.
Many accounting software programs allow you to generate financial statements automatically, such as a statement of financial position. This reduces the possibility of errors and guarantees reliability and accuracy. Of course, you can always generate financial statements manually, but this takes a lot of time and skill. Though we are not a tax/CPA firm, we understand the significance of taxplanning for businesses.
Best Bookkeepers in Fort Worth🥇
He is registered with the IRS as an Enrolled Agent and specializes fort worth bookkeeping in 501(c)(3) and other tax exemption issues.
I am so happy with the service she provides and the way she does it. I highly recommend her for legal bookkeeping services.” – Kasey W. Elaine Sommerville is considered a leading national tax professional in nonprofit tax issues. https://www.bookstime.com/ This IRS examination experience includes assisting in the representation of several church examinations. Raymond Best is a Certified Public Accountant focused on providing accounting services for nonprofit organizations.
Reconcile your bank statements
Our solutions deliver measurable results by aligning our technology solutions with skilled and qualified resources. Tax planning is the process of looking at a person or business entity’s tax situation and business structure to legally reduce tax liability and… We provide the strategy and leadership to connect finance to management, and we do it by letting objectives, targets, and performance guide our services, not the other way around.
- The American Institute of Certified Public Accountants (AICPA) and the Financial Accounting Standards Board (FASB) have created standard accounting principles (GAAP) for nonprofits to follow.
- In addition to working with nonprofit organizations in areas of regulatory compliance, Elaine has a passion for training those who work for nonprofit organizations.
- A nonprofit that collects and gives away period supplies celebrated the donation of its one-millionth menstrual product in January 2023.
- There are some times that we’ll request documents from you (like account statements or receipts), just to ensure the information we have is correct.
- We depend on our members to fund our Fort Worth and Tarrant County business reporting.
In addition to your IRS Form 990, we’ll prepare any and all additional tax forms required by your state or local government. Running a local accounting firm has prepared me for what it takes to own and grow a business. So, not only can my firm provide you with services that will make a difference to your accounting function, but I know how to run a business and make it a success. These financial statements can provide helpful insight into your nonprofit’s financial health so that you can adjust accordingly and plan your next moves. In other words, effective bookkeeping practices will accurately record and monitor your financial activity throughout the fiscal year. When the time comes to report your financial activity or make a budgetary decision, you’ll be equipped with precise and thorough information.