Sioux Falls, South Dakota
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.
Fair Tax, Inc provides quality business and bookkeeping services at competitive rates. We’ll do as much or as little as you need to keep your books in order. We’ll meet with you at least quarterly to review financial statements and are always more than happy to meet with your bank to discuss your financial information. The financial statements we prepare are in full compliance with bank and IRS requirements.
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.
At Fair Tax, Inc. we offer a variety of business consulting services. We’ll help you decide which business structure is best for you and take the time to explain the tax and other business consequences of your different choices. After that, we will help you set-up your business.
- Business Plan: Whether you are a new or established business, we can help you develop a business plan to improve and market your company.
- Financial Forecasting: We will help you look to the future by examining your financials and preparing projections.
- Business Registration: From start to finish, we will make sure that you are in compliance with all of the necessary local, state and federal requirements.
- Business Set-up: From the most basic proprietorship to the more complex corporations, we will help you with all of the necessary steps to open your doors or change your existing business structure.
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.
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.
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.
When a business is able to undertake strong financial analysis, it opens up new opportunities to improve management, planning and decision making. Financial analysis provides the numbers to support, reject or contemplate a course of action. Prospective analysis can show how situations may evolve under various scenarios, providing a new dimension to decision making. We are ready to provide this type of financial analysis to support the continued prosperity of your business.
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.
An IRS audit can be an intimidating and complex process. If you or your business face an IRS audit, we can bring to bear years of experience in dealing with tax matters and IRS audit procedures to ensure that you are properly represented when dealing with the IRS and other tax authorities.
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.
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.
- Paychecks with detailed pay stubs
- Payroll tax deposits
- SD Unemployment
- Form 941
- Form 940
- W-2 for each employee
- New Hire Reporting
- Child Support and other garnishments
- Unemployment Claims and Audits
- Workman’s Compensation Audits
- Wage Verifications
- Payroll Management reports
Sales Tax Services
State and local tax authorities are looking to maximize sales tax collections. We can help you understand and manage your sales tax obligations and prepare sales tax returns in an efficient and timely manner.
Tax Preparation & Planning
We are an IRS-authorized e-filer. Fair Tax also provides the support you expect and deserve if your tax return is selected for an audit by the IRS. We will work with you and the IRS throughout the examination process. We handle all aspects of income tax preparation and consulting for both individuals and business. From the most basic individual tax return to complex partnership and corporate business returns, we do it all. And our tax experts are available year-round to answer your tax questions, often times at no cost to you.
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.