Services

Phillips Tax & Accounting provides accounting services of every type: Monthly/quarterly bookkeeping, computerized accounting system setup and support and compilation services.

Phillips Tax & Accounting, Inc. provides payroll services in all forms:  Complete payroll check issuance including all calculations and payments of taxes, garnishments and deductions, Direct Deposit payroll services and quarterly filing of all required government reports.

Phillips Tax & Accounting, Inc. provides business set up and succession services.  Choice of entity, liquidation issues, structure of sales agreements, allocation of pricing and assistance in obtaining financing of start up businesses are just a few of the issues addressed in this category.

Phillips Tax & Accounting, Inc. routinely prepares tax returns for corporations, partnerships, estates, trusts, non-profit organizations and individuals.  We have been directly filing tax returns electronically since 1987, the year the program was initiated. We strongly encourage tax planning for our clients as we do not like tax surprises for our clients any more than they do.  We systematically review all business clients prior to any estimated tax due dates and provide this review to individuals as needed.

If you’re looking for a firm that will focus on your individual needs, and always treat you like a client who matters, look no further.  Our firm is large enough to offer a full range of professional services, but small enough to give you the individual attention that you deserve.

We will thoroughly and conscientiously study your personal situation, and tailor our advice to your specific needs.

Accounting Software Selection & Implementation

There is no shortage of accounting software solutions for your business. Software as a service (SaaS), cloud computing, and other technological innovations are adding more dimensions to technology decisions. Choosing the right solution that will meet the needs of your business now and in the future while also providing a necessary level of security is crucial. We can analyze the nature of your business and financial transactions, current technology, future business plans and emerging needs to identify and implement a software solution that is flexible enough to grow and change with your business.

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Accounts Receivable/ Payable

Phillips Tax & Accounting can process your Companies Accounts Receivables and Payables. We provide timely processing of bill payments and are committed to keeping you in good standing with your vendors.

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Bookkeeping/Write-Up

If your business does not currently have accounting staff or if your business is outgrowing its current bookkeeping system, we can provide comprehensive bookkeeping and write-up services to ensure the smooth operation of the financial side of your business. As your business needs grow and change, we can provide input and planning assistance to make sure your accounting and financial systems keep pace with your business needs.

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Business Consulting

As a true business partner, we are available to help you deal with any business problem or opportunity. We stand ready to engage in business consulting projects to help you make the right decisions for the future of your business. Whether you face questions related to expanding, selling or restructuring your business, we have the necessary business acumen and analytical capabilities to help you make the right decisions.

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Business Entity Selection

The business entity—LLP, LLC, sole proprietorship, partnership, corporation, etc.— that you select for your business has enormous financial and tax implications. It is important that you make the right decision. We can explain each choice and its implications. As your business grows and changes, the type of business entity you choose may need to change also.

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Buying or Selling a Business

Few business decisions are more important, complex and potentially business altering than a buy or sell decision. When you are ready to sell your business, we can provide support at every step, including valuing the business, vetting potential buyers, and supporting due diligence. If a buying opportunity presents itself, we can help by providing valuation services, developing negotiation and financing strategies, and managing the due diligence process.

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Estate & Trust Tax Preparation

Estate matters affect everyone. By taking proactive steps today, you can ease the way for your heirs during a very difficult time. We can work with your legal counsel to help you to structure your estate and trusts to minimize taxes and ensure the smooth transition to your heirs. We are available to handle all estate and trust tax-related matters.

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Financial Statements

Financial statements are an important tool for management decision making. Financial statements also represent your business to lenders, partners, potential buyers and other interested parties. We  will work closely with your key personnel to develop and finalize accurate and timely financial statements.

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IRS, WI & Unemployment Representation

An audit can be an intimidating and complex process. If you or your business face an audit, we can bring to bear years of experience in dealing with tax matters and audit procedures to ensure that you are properly represented when dealing with tax authorities.

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Notary Public

A notary public can help you to handle various business matters, including witnessing and authenticating document execution and signatures. We offer Notary Public services and are available when you need us.

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Payroll Processing Services

Constantly changing federal, state and local laws and tax regulations make payroll management an ongoing challenge for business owners. Our payroll services professionals are well versed on these laws and regulations. We can proactively alert you to material changes that will affect your business and your employees while also keeping payroll running smoothly no matter how large your business and your employee population become.

All employees at Phillips Tax & Accounting, Inc. are bonded through Capitol Indemnity Corporation for $75,000. All employees are bound by confidentiality agreements and all passwords are changed at regular intervals. In addition to procedural safeguards, your data is encrypted and backed up nightly offsite.

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Retirement Planning

Retirement planning is critical in these uncertain times. Whether you are developing a retirement plan for yourself or choosing a retirement plan to offer to your employees, we can help you evaluate the available options. Our focus is on helping you to make the choice that is most appropriate for your own financial situation. If you are choosing a retirement plan for your business, we will base our recommendations on the unique characteristics of your business and your employee population, as well as the legal and compliance issues related to each type of plan.

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Sales and Use Tax Services

State and local tax authorities are looking to maximize sales and use tax collections. We can help you understand and manage your sales and use tax obligations and prepare sales and use tax returns in an efficient and timely manner.

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Tax Preparation & Planning

Effective tax preparation and planning can help you to minimize your future tax liability. We can help you proactively manage both your personal and your business tax issues, including understanding how upcoming business opportunities impact your tax status and vice versa. Not all tax planning opportunities are readily apparent. By having us on your team, you are more likely to benefit from those opportunities. We understand how the latest federal, state and local tax legislation and other developments affect you and your business and we are constantly identifying new ways to reduce federal, state or local tax liabilities.

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