3103 Pascagoula Street, Pascagoula, Mississippi 39567 www.rankincpa.com
At Rankin & Associates we offer a full suite of services to help meet both your individual and business tax and accounting needs.
We offer tax return preparation of federal and state income tax returns for individuals and all types of businesses, including:
We offer tax planning services ranging from computing year-to-date estimated tax payments to annual year-end planning.
We offer a wide range of payroll options from the complete outsourcing of your payroll to just providing monthly, quarterly, and annual payroll reporting. We believe payroll is an area clients can get in trouble fast so we offer an economical way to ensure that the proper taxes are paid and all reporting is handled. Some of our payroll services and the benefits include:
We offer traditional monthly, quarterly, or annual bookkeeping. We enter your checks and deposits into our accounting software and ensure all information is coded to the proper accounts. We then generate financial statements for your internal use or for help in estimating your income taxes.
We also offer services where we can assist a client’s in-house bookkeeper with their accounting software and books rather than enter from scratch. At the client’s office, at our office, or remotely we will go through the software (QuickBooks, PeachTree, Sage 50) and accounting records, make corrections and adjustments, and help prepare a financial statement.
We also offer management services where you essentially outsource your accounting department to us. Areas we offer management services include:
We offer financial statement preparation in the form of a Compilation or Compiled Financial Statement. In a Compiled Financial Statement, a client’s books and information is taken and formatted into useful financial statements that are in accordance with a particular accounting basis (i.e. GAAP, Cash, Tax). A Compilation or Compiled Financial Statement differs from an Audit or Reviewed Financial Statement in that the CPA expresses no assurance on the financial statements. These statements are typically used for internal purposes.
We also offer Reviewed Financial Statements which involves procedures lesser in scope than an Audit, but more than a Compiled Financial Statement. A Reviewed Financial Statement requires us to become aware of your company's personnel and perform analytical procedures to gain limited assurance as to the validity of the financial statements. The statements are typically presented in accordance with generally accepted accounting principles (GAAP) and include full footnote disclosures. A Reviewed Financial Statement is usually needed for third parties who may need stronger assurance concerning the financial position of the client, such as contractor licensing boards, financial institutions for loan approval or renewals, and bonding companies.
Starting a new business can be overwhelming, from choosing the correct entity type, making correct tax elections, registering with the proper tax authorities, choosing accounting software and just making sure nothing is missed. We can help clients ease the burden and advise them in all of these areas. We know the right questions to ask to steer clients in the right direction when starting a business. Some of the services we offer include:
For clients that have or plan to have their own bookkeeper in-house, we are still an integral part of their initial setup and ongoing success. Based on a clients particular needs we can recommend the best accounting software package for their company. Setup is the key to all successful in-house bookkeeping arrangements. We offer accounting software setup so you can be confident the infrastructure is in place on the front-end. On an ongoing basis, either at the client’s office, at our office, or remotely, we can examine the software file, make corrections and adjustments, and assist in the preparation of financial statements. We can also train in-house bookkeepers how to use various software packages such as QuickBooks, PeachTree, and Sage 50. Some of our accounting software services and the benefits include: