Accounting Services

CPA with IRS rep

Elite Way CPA offers comprehensive accounting services tailored for both individuals and businesses. Our expertise includes bookkeeping, compiled and reviewed financial statements, and annual vendor information reporting. Whether you’re launching a new business or require a forecasted financial statement, we deliver personalized solutions to support your unique financial goals.

Bookkeeping

We assign a dedicated accountant to manage your personal or business bookkeeping, compiling all financial data into a clear and easy-to-understand report. With a deep understanding of your business finances, we provide proactive strategies to maximize deductions while ensuring full tax compliance. Utilizing advanced bookkeeping techniques and trusted tools like QuickBooks, we generate detailed reports to keep your financial records accurate and organized.

Compiled financial Statements

A compiled financial statement is the simplest and most informal type of financial statement available. It provides a structured summary of your company’s finances, formatted by a CPA using the data you supply. Since the CPA does not audit or verify internal accounts, this statement offers no assurance. It is a straightforward service, ideal for situations where you need an external review of your financial records without in-depth examination or testing.

Review financial Statements

A reviewed financial statement is conducted to confirm compliance with U.S. Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS). This process involves a limited examination, where the accountant evaluates your financial statements and accounts, focusing on management practices and analytical procedures. While a review provides limited assurance that the financial statements are free from material misstatements, it is not as extensive as an audit, which involves a more in-depth analysis of your business’s financial records.

Yearly Vendor Information Reporting (W2’s & 1099’s)

All businesses are required to issue W-2 and 1099 forms to employees and independent contractors/vendors. W-2 forms are designated for employees, detailing their salary and tax information, while 1099 forms are sent to suppliers and vendors and reported to the IRS to verify income accuracy. We manage annual vendor information reporting, ensuring W-2 and 1099 forms are accurately prepared, distributed, and updated. Contact us today to learn how our accounting services can support your business.

To get in touch with Elite Way CPAs, just call 725-238-0738 or click the ‘Request a Consultation’ button below.