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Whether you are a start-up business, a growing business, or a mature corporation, Long Island City based AAP has the expertise to help you. Through prompt and timely service, along with an intimate knowledge of the rules and regulations, we can keep you ahead of government deadlines, maintain order in your internal financial systems, and reduce the headaches that come with owning a business. We can handle it all, from your payroll needs to banking and check writing.  If you’re having issues preparing your financial statements, we can tackle them for you. You name it…we can do it!

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WHY HIRE STAFF?

Let AAP do your monthly bookkeeping at a fraction of the cost of a full-time employee.

Our talented team is experienced with all the major accounting software programs.  We perform vital accounting functions, such as accounts payable/receivable, payroll, general ledger accounting, bank reconciliations, financial statement preparation, and financial analysis.

When you retain our services, we make it a priority to learn your goals and operations quickly so we can hit the ground running.  Based on experience, we can easily identify opportunities for more effective tax planning, improved internal controls, and other areas that will make your business more profitable.

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QUICKBOOKS

AAP has a deep understanding of QuickBooks and how it can improve efficiency and accuracy, and has used it to help countless businesses. When it comes to accounting software for small and mid-sized businesses, QuickBooks is considered the gold standard. The software enables easy tracking of sales and expenses, can create invoices, generate payroll, and generally gives you the ability to do all of the bookkeeping and financial management of your organization from one streamlined application.

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More importantly, a QuickBooks system can be put into place for your business quickly and easily in a way that will have an immediate positive impact on your profitability, and we can help you with the implementation.  ​

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One of the advantages of QuickBooks is that it can easily be customized to your particular business needs, and we are proud to be a member of the Certified QuickBooks ProAdvisor program. This means that wherever you are located in New York or anywhere in the United States, we will be able to create and implement a custom QuickBooks design that will be designed specifically for your organization and everything that makes it unique.

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QuickBooks will answer all of your business needs, providing you with improved economies and efficiencies, and by taking advantage of the expertise of our team, you will be assured of complete assistance and support from the very first consultation through to the program’s installation and training. We will be with you every step of the way, providing you with support and ongoing maintenance.

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QuickBooks has gained the confidence and admiration of businesses around the world, allowing organizations to take charge of their own bookkeeping in a revolutionary and simple way. The program provides valuable tools that save time and money, and our accounting firm is dedicated to helping businesses around the country with the positive impact that it can make. 

The advantage of using QuickBooks Services implemented by our small business accounting firm is that it is designed with your specific business in mind. We take a consultative approach, diving deep into what makes your company unique and how it does its business and then creating the system to work within your operation. We will look at every nuance of your business, from the everyday tasks to the long-term financial objectives, and then set up a personalized QuickBooks system that is customized to fit your needs.

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You will find that the program not only saves you time, but also improves the quality of your bookkeeping and gives you an enhanced level of security over other systems, and we make sure that you and your staff are fully trained so that you will be able to use the system to the fullest extent of its capabilities.  

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QuickBooks offers a number of highly valuable features for small and mid-sized companies, including the ability to send out invoices, scan receipts, track sales revenues and organize your expenses in a way that allows you to stay informed easily. It will run your employee payroll system, enable payments in the storefront, online and mobile environments, and generate real-time financial reports whenever you need them.

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Perhaps most importantly, QuickBooks will eliminate the kind of costly mistakes and delays that plague so many businesses, both on a day-to-day basis and when it comes time to prepare your taxes. The program synchronizes tasks across multiple devices and platforms, enabling greater efficiency, accuracy, and accessibility.

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We have been providing business accounting services in the greater New York City area for over 5 years, working directly with clients in order to enhance their chances for success. We have a deep understanding of QuickBooks and how it can improve efficiency and accuracy, and have used it to help countless businesses. 

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In addition to the improvements that QuickBooks can make within your organization, it also makes it possible to transmit important information directly to our team in real time, making it possible to take advantage of her expertise and knowledge that much more quickly and efficiently.

If you would like more information on how our knowledge and experience can help your business grow, save on taxes, and build a secure future, contact our office today. We will tell you how QuickBooks services can help you.

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We provide:

• QuickBooks set up that can save you hours of trying to figure out the initial installation for yourself.

• QuickBooks training that helps you and your employees operate all of the program’s functions and take advantage of all of its benefits.

• QuickAnswers for your accounting department employees. We are just a phone call or email away, ready to save you time and answer all of your questions in a friendly and supportive manner.

• QuickTuneup is a service that we provide whenever you need help with problem areas. Whether you are getting ready for tax time, going through a financial review, or have encountered some other kind of challenge, our Tuneup will clear up the problem.

• QuickBook Tips is a collection of shortcuts and hints that will help you make the most of your QuickBooks experience.

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One of the most important decisions you make when starting a new business is the choice of entity. Selecting the right entity can provide you the best protection and tax benefits. Whether you starting your first business or one of many, Long Island City based AAP is ready to help you set up your company and stay compliant from day one.

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• Sole Proprietorship

• Partnership

• Corporation (includes S Corp)

• Limited Liability Company (LLC)

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Let AAP determine which legal structure will best suit your business. 

 

TAX PREPARATION & CONSULTATION

Preparing your own tax return can be extremely difficult with today's complex tax code and may often leave you with more questions than answers. These days, the majority of people and small businesses use an Enrolled Agent to assist with the preparation of taxes. Even if you are just filing a simple return, the rules may change from year to year and it is easy to overlook these changes and submit an incorrect return. By doing your taxes yourself, you may also end up overlooking deductions and credits. At AAP we have the expertise that is needed to help you file your returns while also helping you to minimize your tax liability with careful planning.

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Our tax preparation services include:

• Individual Tax Preparation

• Business Tax Return Preparation

• Gift & Estate Tax Return Preparation

• Partnership & Corporate Tax Preparation

• Estate and Succession Planning

• Out-of-State Returns

• Business Start-Ups

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AAP can also help with our extensive tax planning services.

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TAX PLANNING & EDUCATION
Tax planning is essential to help you successfully and legally reduce the amount of your tax liabilities. In addition to making sure that your business is tax compliant, we also can suggest tax saving strategies that will maximize your after-tax income.

We offer tax and education planning to assist start-ups, as well as, established businesses. We will provide you with a complete list of the most commonly overlooked deductions so that you can limit your tax liability for the following year.

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We’ll also assist you with tax planning by:

• helping you to defer income so that you can save money now and pay fewer taxes in the future

• lower taxes on your income so that you can keep more of your earnings

• lower taxes on your estate and gifts so that the beneficiaries can keep more of what you have given

• lower taxes on investments and retirement distributions so that you can maintain your lifestyle and much more.​

• If you own a small business in LIC or need help with individual taxes, working with a professional tax planning service can help save you more money. AAP offers the expertise that you need to save on your taxes at affordable prices.

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TAX RESOURCES
Here are some links to help you learn more about NY taxes:

• NY Department of Taxation

• Tax Information for Individuals - Internal Revenue Service

• Business Taxes - Internal Revenue Service
   

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Owning and operating your own business is a dream for many aspiring entrepreneurs, but the reality of running a business can quickly squash the initial thrill.  Making sure that you are well equipped to manage all aspects of running a business is the key to success, while failure to do so is a recipe for disaster. Our new business formation services will provide you with a strategy that will give you a plan for the future that lays out a long view, providing a methodical approach that protects your dream and avoids the mistakes that many make.

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AAP will provide you with an initial business plan that will provide you with an approach to marketing, financial planning, and management.  We will help you assess your initial capital requirements and sources from which you can get it. We’ll also help you determine how much you will be qualified to borrow for your business. We’ll look at the different types of business structures, evaluating each in terms of your legal exposure, their tax advantages, and how easily you will be able to operate in order to find the one that works best for you.  We’ll also help you plan for relocation if necessary. 

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From a business services perspective, we’ll help you choose an accounting software package that is appropriate for your needs, including your budget and your hardware, and will create a cash flow budget to help you anticipate your needs as you go through your business’ first few years of growth.  We’ll help you create a billing system and collection policies and procedures that will facilitate cash flow, and help you create a budget and procedures to help you stick to it.  If you plan on operating out of a home office we’ll show you the best way to do so in order to give you the maximum tax advantage. 

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There are so many documents and applications required to establish a new business, and we’ll help you with all of those too. We’ll provide you with help in the process of applying for all appropriate state and local permits and licenses, as well as your Federal Employer Identification Number. We’ll assess your business’ insurance needs, and when you hire your first employee we’ll take care of setting up your payroll and payroll tax filing, making sure that you comply with all employment laws. If your business is a partnership, we’ll help you create a Partnership Agreement that provides all involved with the appropriate protections and anticipates and heads off potential problems in the future. 

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If your books aren’t up to date, our AAP team works quickly to clean up your accounting and bring your financials up to date, giving you peace of mind and helping you make smart decisions based on real numbers.

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Catch up services include a reconciliation of records:

• Bank accounts & credit cards

• Accounts receivables and payables

• Payroll records

• Entering missing data and rectifying incorrect entries

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FILING BACK BUSINESS TAX RETURNS

After making sure your bookkeeping is up to date, your dedicated accounting team will file any required back tax returns and help you ease any potential penalties. Our goal is to bring you up to speed and compliant in no time.

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FILING BACK PERSONAL TAX RETURNS

Once your business tax returns are complete and filed, your dedicated team at AAP can complete back personal tax returns to have you compliant in no time. 

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AAP in LIC is here to help you resolve your tax problems and put an end to the misery that the IRS can put you through. We pride ourselves on being very efficient, affordable, and, of course, extremely discrete.

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IRS TAX PROBLEMS

Before you call one of the large advertisers claiming to solve your problems for pennies on the dollar, take the time to talk to your trusted, local expert.

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We can help you with the following IRS tax problems:
 

• Wage Garnishment 
  IRS wage garnishment is the deduction of money from an employee’s monetary compensation resulting from unpaid IRS taxes. Most likely this should not be a surprise as the IRS will only levy one’s wages after repeated letters and warnings about the taxes owed. This is one of the IRS’s most aggressive tax collection mechanisms and should not be taken lightly. The IRS would rather resolve taxes in a different manner but they will levy when they feel they have run out of other options. It is important to understand how garnishments work to ensure you take the appropriate actions to avoid them or stop the IRS from taking your wages.
   

• Bank Levy
  An IRS levy permits the legal seizure of your property to satisfy a tax debt. It can garnish wages, take money in your bank or other financial accounts, seize and sell your vehicle(s), real estate, and other personal property. If you receive an IRS bill titled Final Notice of Intent to Levy and Notice of Your Right to A Hearing, contact us right away. If you receive an IRS notice of levy against your employee, vendor, customer, or another third party, it is important that you comply with the levy.
   

• Threatening Letters
  The IRS carry out their threats, so ignoring an IRS threatening letter is absolutely the worst thing to do. First, you should check the facts in the letter. If there is anything amiss in their calculations, your liabilities or their assessment, write a polite letter back explaining the error or omission and wait to see if they will remedy the situation. If they have reached the point where they are sending you threatening letters however, you may need to be a little more proactive in resolving the situation before the IRS becomes proactive themselves. You do not want this to happen. If you allow the IRS to take action before you do it will result in you unnecessarily suffering at their hands. The IRS has considerable powers when it comes to collecting taxes and they are rarely if ever prone to taking the lightweight approach. The IRS sends out threatening letters when they know or think they know that you owe them money; beyond that, they have little interest in you.
   

• IRS Audit Notification 
  Did You Receive an Audit Letter From the IRS? The first step is not to panic.  The IRS uses letters to communicate with taxpayers about IRS audits.  As with most IRS communication, there are deadlines associated with IRS audit letters.  You will have time to review the items that are being contested and prepare your response.  Selecting a return for examination does not always suggest that the taxpayer has either made an error or been dishonest.  In fact, some examinations result in a refund to the taxpayer or acceptance of the return without change.
   

• Non-Filing
  What if you fail to file? The IRS may file what is known as a substitute return for you. However, as you well know, the IRS will not be looking to save you any money. In fact, a substitute return will not include any of the standard deductions your accountant would typically include in your return. Case in point, a substitute return only allows one exemption: single or married filing separate, so you end up with higher tax liability than if you would have just filed.
   

• Liens
  A federal tax lien arises when a tax return is filed and the tax isn’t paid after a demand for payment has been made. By law, the lien is in favor of the United States and is upon all property and rights to property of the person with the unpaid tax. It gives the IRS the authority to seize any proceeds from sales of real estate owned by a delinquent taxpayer. To protect the government’s right of priority against other parties who are owed money by the same person, the IRS will file a Notice of Federal Tax Lien, which puts other creditors on notice about the IRS’s claim.
   

• Offers-in-Compromise
  Reduce Your IRS Debt with an Offer-In-Compromise.  Qualifying for an offer-in-compromise settlement can save you thousands of dollars in taxes, penalties, and interest.  An offer-in-compromise is an agreement between a taxpayer and the IRS to settle the taxpayer’s tax liabilities for less than the full amount owed.  Absent special circumstances, an offer will not be accepted if the IRS believes that the liability can be paid in full as a lump sum or through a payment agreement.
   

• Innocent Spouse 
  Many married taxpayers choose to file a joint tax return because of certain benefits this filing status allows.  Both taxpayers are jointly and individually responsible for the tax and any interest or penalty due on the joint return even if they later divorce. This is true even if a divorce decree states that a former spouse will be responsible for any amounts due on previously filed joint returns.  One spouse may be held responsible for all the tax due even if all the income was earned by the other spouse.
  
  In some cases, a spouse will be relieved of the tax, interest, and penalties on a joint tax return. There are three types of relief available:
  1. Innocent spouse relief 
  2. Separation of liability
  3. Equitable relief

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Managing payroll may not seem like a critical task until something goes wrong.  It can be time-consuming, but, more importantly, it requires a good knowledge of the tax laws and deposit rules. As a NY small business, it can be challenging to keep up with all of these tasks. In addition to paychecks, a professional payroll service can help generate the payroll forms that you require, file your payroll tax returns, and more in order to help you keep your business running smoothly.

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COMPREHENSIVE PAYROLL SOLUTIONS
At AAP, our NY payroll services are designed to provide you with a comprehensive solution for managing your payroll duties. With our services, you will only need to provide your employee data, such as the hours that have been worked, employee address information and other related details. Once we receive the data, we'll handle the rest.

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Here are the payroll services that we offer:

• Checks or Direct Deposit for Your Employees

• Federal Tax Liabilities

• State & Local Tax Liabilities

• Unemployment Tax Liabilities

• Quarterly Tax Forms

• Year-End Tax Forms

• Customized Payroll Reports

• Tax Deposit Services

• W-2s and 1099s

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Using a payroll service might not seem necessary for managing your payroll until there is a problem. Correcting issues with payroll can be time-consuming and also requires a thorough understanding of the tax laws and deposit rules.

Using a professional service like AAP can take the headaches out of doing your payroll. We'll also monitor all applicable federal, state and local laws that may affect your tax filings. We’ll stay on top of these updates so that you will never have to worry about being left behind.

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SECURITY AND COMPLIANCE
When you work with us, you will also have the assurance of knowing that your data is secure. We adhere to the data security regulations as required by federal compliance agencies. These regulations ensure that your data is securely maintained and transmitted to the appropriate tax agencies.

Whether you are just starting your business or you would like to switch to a better system for payroll processing, we can provide the business services that you require. We can help simplify the payroll process to help you more effectively manage your NY small business. Let us assist you with your payroll needs so that you can focus on running your business.