New Business Setup: Incorporation & Entity Choice

RMARK Financial Services has helped many clients set up their businesses. We can assist in choosing among business entities, such as C corporations, subchapter S corporations, partnerships, limited liability companies (LLC) and sole proprietorships, to maximize tax savings and liability protection. If the client chooses to incorporate, we can walk the client through the incorporation process and assist in obtaining identification numbers for required federal, state and local filings.

Accounting & Bookkeeping

RMARK Financial Services can assist clients with their accounting and bookkeeping needs. It is critical to setup your accounting and bookkeeping correctly from the very beginning. We can help the client design a chart of accounts and a system of internal controls. We can help design a system where the client's staff enters the data in an accounting package and we periodically review and adjust the data. We are experienced in the use of Quickbooks and can work with client-produced Quickbooks files. The goal is to produce relevant, trustworthy data that allows the client to make sound managerial decisions.

Financial Statement Preparation

RMARK Financial Services can prepare financial statements from source documentation for businesses that meet the needs of management, investors, banks or other interested parties. Financial statements can be prepared on a "Generally Accepted Accounting Principles" basis, or on another basis, such as cash or tax basis, if appropriate. The goal is to produce financial statements that are as useful as possible to the client and other interested parties.

Tax Form Preparation & Tax Consultation

RMARK Financial Services can provide full corporate tax services and complete individual income tax preparation. RMARK Financial Services can also prepare partnership and trust tax returns as well as all required state and information filings. We utilize Creative Solutions' UltraTax software to prepare our tax returns and are currently offering electronic filing of all personal tax returns where appropriate.

Our extensive background in federal and state taxation and payroll allows us to consult with our clients on a wide range of tax issues. For example, we can help the client structure transactions to maximize tax savings and decide between treating labor as employees or independent contractors.

IRS and State Tax Problem Resolution

RMARK Financial Services can represent their clients before state taxing authorities and the Internal Revenue Service (IRS) for tax audits and examinations. We can respond quickly and effectively to state and IRS inquiries and penalty notices on behalf of our clients. Mr. Shahan's five years of experience as an IRS Internal Revenue Agent allows for quality tax preparation and effective advocacy before taxing authorities. Mr. Read is an expert in payroll taxes and provides a wealth of expertise in dealing with payroll and compensation issues.

Management Consulting

RMARK Financial Services can consult with their clients on a wide range of management concerns. For example, we can assist with cash forecasting and cash planning to ensure a new business does not run out of capital before it is fully established and profitable. We can also refer clients to trusted companies for their insurance and pension administration needs. For your payroll needs, our sister company, Custom Payroll Associates, Inc., at www.custompayroll.com is a full service payroll service bureau.

A/P and A/R Outsourcing

Our clients can outsource their accounts payable (A/P) and accounts receivable (A/R) functions to RMARK Financial Services. For example, our largest clients have outsourced their accounts payable and financial statement preparation to us. Once a week, the client sends his bills to our office. The payables have been coded by the client using a chart of accounts we designed for them. The payables are entered in Creative Solutions' Client Bookkeeping Solution and checks are printed using the client's own check stock. After the month is closed, the payables and disbursements are exported to Creative Solutions' Accounting Products and monthly financial statements are prepared. We started doing this because clients had encountered internal problems with employees handling these functions. Clients found that security and internal control were substantially enhanced by relying on an outside professional.