Tax, Compliance and Planning

Tax planning is critical to every individual and business entity to ensure that it pays the lowest tax allowed by law.  At Koutoulas & Relis, LLC, we know the importance of effective tax planning.  We encourage each of our clients to work with us each year in the planning process, especially in years with changes that can affect their taxes such as marriage, mergers, divorce, dispositions, education, work, business, birth, retirement, death, disaster and changing tax laws.  When such events occur or are expected to occur, it only makes sense to structure transactions for the most favorable tax treatment.

We have expertise in every area of federal and state taxation and are able to represent clients at audits, should that situation ever arise. We are adept at handling: 

Business Entity Selection

Choosing the form of entity of your business ("S" or "C" corporation, sole proprietor, limited liability company or Partnership) is a crucial decision that can have longstanding tax implications, positive or negative. We assist our clients in evaluating the pros and cons of each entity type to help our clients determine the most advantageous form of business entity.

As an added service we will incorporate your business and file the necessary documents with the IRS and the Secretary of State. We can also act as a registered agent in the State of Florida. 

Audit, Review and Compilation Services

Our partner in charge of auditing is Steven L. Relis, CPA. He is former audit manager with Deloitte & Touche in NY and with Ernst & Young in Miami.  As such, he has been exposed to many different organizations and was instrumental in establishing the firm's system of quality control.   Our AICPA peer reviewed firm will analyze your current situation to gain a thorough understanding of your business, your goals and financial needs. We will perform: 

Assist with Financial Statement Preparation, Including Footnote Disclosures

Our partners have had experience with SEC reporting and thus can assist PCAOB CPA firms clients with with the preparation for their annual audit or quarterly reviews, including the preparation and organization of supporting workpapers.  We also can assist with the preparation of Forms 10K, 10Q and other SEC filings.  We often act as liaisons between company management and external auditors, we help with preparation of income tax provisions and income tax footnote disclosures (FASB 109). We can assist in determining the proper accounting treatment for complex transactions and provide consulting services in connection with other issues or problems that might arise relative to financial statement preparation and disclosures.

Business Consultation & Accounting Services

We believe that accounting is more than entering correct numbers in the right columns. We provide highly personalized support to meet our clients immediate needs and achieve its long-range goals. We take a partnering role with our clients and feel a vested interest in their success. Together, we create systems that allow our clients to control every aspect of their business. Our years of experience enable our clients to make the right decisions. We can help you to:

  • Write and evaluate business plans
  • Prepare loan applications and venture capital proposals 
  • Help in pricing product and services 
  • Develop budgets and business forecasting 
  • Establish credit policies, project and improve cash flow 
  • Implement cost controls, control loss and shrinkage 
  • Analyze business operating results
  • Implementation and selection of Accounting Software.


QuickBooks Training & Support Services

If it is decided that QuickBooks is the correct accounting software for your organization, training will be vital to its successful implementation. As QuickBooks advisors, we help our clients with any QuickBooks accounting or payroll assistance that's needed. Whether its QuickBooks Basic, Pro, industry solutions, Premier and Enterprise Edition or QuickBooks Online.

We work closely with our clients to ensure that they have accurate and timely financial information. We know every business is unique and has specific needs and thus we will customize our approach to each client.

QuickBooks Installation and Setup

We offer professional QuickBooks installation and setup services. It is extremely important that your setup be completed accurately and in a timely manner. Often clients make mistakes that can cost them valuable time later.  A proper setup can make Quickbooks much more efficient.  It is important that the following issues be addressed at setup:

  • Business entity and industry
  • Accounting methods
  • Chart of accounts
  • Opening balances
  • Fiscal year end

We regularly schedule reviews of our clients QuickBooks files to ensure that our client's system is providing timely, relevant and reliable information.

After such review, we will make recommendations to make:

  • Corrections – i.e. improper receivable/payable transactions
  • Adjustments – i.e. depreciation
  • Reclassifications – i.e. proper income, expense and balance sheet classifications
Our hands-on QuickBooks training at your office includes:
  • Chart of accounts issues
  • Journal entries
  • Receivable/payable concerns
  • Payroll instruction
  • Reconciliations
  • Aging reports
  • Financial reports
  • Other customized training

In addition, our support services include:

  • Budgeting and forecasting
  • Creating management reports to help further your business success
  • Financial analysis
  • Integration with third party software