Business Taxes

Our Business Tax Services

Let the Diamond & Associates Team Help YOU

Running a business successfully requires you to keep track of its financial health. For over 40 years, we have been serving

Established businesses
Entrepreneurs
Solo practitioners
Larger corporations

By applying our systems and knowledge we can maximize your deductions, track your business’ financial health, and ensure you remain in compliance with all regulations. We know that great decisions start with an “examination of the numbers” and we help ensure you have all the financial records you need to help grow your organization. From start-ups to well established businesses we are here to help with processes to monitor cash flow, manage payroll, organize accounting procedures and make sure clients file taxes accurately and on-time.

Our clients include a variety of organizations including those in the wholesale, retail, manufacturing, transportation, warehousing and service industries in the greater Philadelphia area and beyond.

We file these business returns:

Federal
State
Local Tax
Payroll Tax
Sales Tax
Business Tax
Mercantile Tax

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Record Keeping

For businesses big and small, maintaining accurate records is a cornerstone of financial health. While you are an expert in your profession, a good accountant can be invaluable when it comes to setting up your financial books. A sound record keeping system helps you to manage your cash flow, make business decisions, comply with laws and reduce the risk of fraudulent transactions.

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Bookkeeping

Do you need a bookkeeper for your business? A good bookkeeper can take the guesswork and stress out of your daily, monthly or weekly financial record maintenance. We can help you manage invoicing and bill paying, balance your business checkbook, process payroll and sales tax, and perform other services so you can focus on your operations.

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Deductions

In addition to being your own boss, some of the many advantages of owning your own business are the deductions you can take. These expenses may include your cell phone, miles driven for work in your car, a home office, internet, office space, professional services, continuing education and business travel. As your business grows, your employees may have expenses that you can deduct as well. We help you maximize your deductions and make sure you account for all of them.

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QuickBooks

For many businesses, QuickBooks is a great way to track income and expenses. It integrates with many other apps that can track employee time, simplify mileage and expense reporting and generate dashboards to quickly communicate key metrics about your business. We can help you choose the best accounting software package for your situation, customize it for your application, and teach your staff how to use it. As certified QuickBooks ProAdvisors, we are here when you have questions or want to learn how to use new features.

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Estimated Tax Payments

When you start making money in your business it is exciting. However, with any profit comes the possibility of having to pay taxes. When you own a business, and are not paid with a paycheck, you may be required to make quarterly estimated tax payments. The calculations required to make these payments can be involved. We can meet with you on a regular basis to review your business and tax exposure.

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Filing Accurately & On Time

Whether your business needs to file its own tax return or will be reported as part of your personal tax return, we can help ensure the process is handled correctly. Our goal is always full compliance with regulations while helping you keep the most money in your bank account. We understand that the process of filing a tax return can be overwhelming and have built our Newtown accounting practice to handle the complexities for you.

How We Work

Find The Right Solutions For Your Business

Every business, no matter the size, has been impacted by changes brought by the worldwide pandemic over the last two years. Diamond and Associates has responded with initatives that

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Integrate remote support services for bookkeeping and software troubleshooting

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Enable secure file sharing from our web portal

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Constantly search for new ways to help small businesses

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Regularly connect in advisory capacity with our clients regarding industry forecasts

We have helped our clients obtain more than $10 Million in CARES Act small business relief.

Have questions? Reach out for a consultation.

Use the form below for your questions