Business Services

R.E.J's views the financial reporting process as an opportunity in assisting companies and corporations in maximizing the company's profitability and efficiency under Generally Acceped Accounting Principles (GAAP). The financial statements produced can be a useful tool for management in making financial decisions. We can provide financial reporting on all three levels of assurance:

*Audit - Intensive examination and testing of financial data, testing of internal controls, adhering to Generally Accepted Auditing standards and a CPA along with R.E.J's expressing opinion on the financial statements based on the results of the audit with the highest level of assurance.

*Review - Inquiries of company personnel, performance of analytical procedures, substantially less in scope than an audit, no opinion is expressed and reviews have only limited assurance.

*Compilation - based upon client information provided, less in scope than an audit or review, no opinion is expressed and compilations are used primarily for internal use or as a basis only for the final financial reports.

If Interested Contact us
734.284.8833
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Robert Jacob, Enrolled Agent, is licensed by the Internal Revenue Service he can represent YOU before the IRS or State of Michigan. YOU can be either an individual or a business.

What is an Enrolled Agent? An EA is an individual who has demonstrated technical competence in the field of taxation and can represent taxpayers before all administrative levels of the Internal Revenue Service. EAs advise, represent and prepare tax returns for individuals, partnerships, corporations, estates, trusts and any entities with tax-reporting requirements. EAs’ expertise in the continually changing field of tax law enables them to effectively represent YOU, the taxpayer. Unlike CPA’s or Attorneys, all EAs specialize taxation. EAs are the only taxpayer representative s who receive the right to practice from the United States government, not by the State.

What should you do when you receive a letter from the IRS? Don’t panic! Stay calm! Don’t ignore it either. On the top right-hand corner will indicate which year’s tax return the letter is addressing. Always respond to any requests you receive. Should you receive an “Audit” Letter, come in and talk to us to find out what you need to prepare for the IRS meeting and to discuss your letter/tax return.

The “Adjustment” Letter usually claims that some income does not appear to have been included in your tax return. It also includes a “balance due” amount to pay, if you agree. This letter lists the income amounts that appear to be missing, along with who sent the IRS these amounts. Of course, we can help explain this to you as well. Many people try to handle their tax problems themselves, often resulting in frustration and negative results. R.E.J’s Accounting & Tax Service can take this burden off your shoulders and give you peace of mind. Bob Jacob not only understands the system but will handle all the meetings and telephone conversations on your behalf so you never have to meet with the IRS yourself. The biggest key of all is to reduce your tax liability, in other words, how much you owe. Robert Jacob has already helped clients with:

• Removing Tax Liens
• Removing Bank Account Levies
• Removing Wage Garnishments
• Negotiating Installment Payment Plans
• Negotiating Settlements of Tax Liabilities
• Removing Penalties and Interest
• Filling Unfiled Previous Year’s Tax Returns
• Handling Tax Audits

To sit down with Robert Jacob for a consultation, please call our office at 734-284-8833 and schedule your appointment. Should Bob take your case, the rate will be double his normal rate but he knows how to deal with the IRS and the best part is, YOU won’t have to.

How does my business qualify to be a Nonprofit Organization?

In order for a nonprofit organization to qualify for nonprofit status it must fit into one of the categories in Section 501(c) of the Internal Revenue Code. All of these qualification requirements must be met and upheld in order to avoid termination of nonprofit status.

(Link to Section 501 (c))

R.E.J’s Accounting and Tax specialties are in 501 (c) 3 and 501 (c) 7.

501(c) 3 organizations are usually referred to as charitable and must not be organized or operated for the benefit of private interests. No part of a section 501(c) 3 organization’s net earning may inure to the benefit of any private shareholder or individual. If the organization engages in an excess benefit transaction with a person having substantial influence, an excise tax may be imposed on the person and any organization managers agreeing to the transaction. Also 501(c) 3 organizations are restricted by how much political and legislative lobbying activities they may conduct.

501 (c) 7 organizations are permitted to receive up to 35% of its gross receipts, including investment income from outside its membership without losing its tax-exempt status.

However, 15% of the organization’s gross receipts may be derived from the use of the organization’s faculties by the general public.

If Interested Contact us
734.284.8833
e-mail

Full Service Bookkeeping Practice Specializing in the Needs of Small to Medium Size Businesses

We, at R.E.J’s, have a very personal and professional approach designed to provide the best service at the most reasonable rates. We become a part of your team when you join R.E.J’s and make a real easy job of all your accounting and tax needs whether the need is Bookkeeping, Quick Books or Tax Advice. We offer on-site training for Quick Books or we can come to your place of business. Your books can also be dropped of at R.E.J’s and our experienced staff will be happy to assist you. Whether the need is monthly, quarterly or annually, we take time to review your books and we plan, with you, for your future.

As a Full Service Firm, our services include:

• Bookkeeping and record keeping: This includes inputting receivables, payables, reconciling your bank statement and financial reports.

• Form Filing: This includes computerized monthly and quarterly payroll, sales tax and business personal property returns.

• Consultations via telephone or on-site to discuss accounting issues, QuickBooks or business decisions

• Tax planning and advice on changes in tax laws which affect your business

• Enrolled to practice before the Internal Revenue Service should a tax issue arise for your business or we provide correspondence on your behalf.

• Business Set-Ups: we will incorporate your business whether an LLC or Corporation.

• We specialize in Non-Profits, Business and Individuals

Your investment with us is very affordable and you will know what your costs will be as there are no hidden fees. Most clients are on either a monthly or quarterly retainer basis which meets their budget. No matter how small your business is, we have a plan that fits you – and your budget.

We will give you the very best service we can provide, while becoming part of your team and helping you achieve your goals. To do this, we can either meet at your business, at our location, or even off premise to show you how we can help you grow.

Client Information Check List
The Following is necessary for monthly Bookkeeping

QuickBook Clients

• A back-up on a disc or flash drive or Accountant's copy e-mailed to us
• Bank Statement(s)
• Payroll Detail
• Sales Tax
• Internal Revenue Correspondence

Non QuickBooks Clients

• Bank Statement(s)
• Payroll Detail
• Credit Card Statements
• Check Register(s)
• Sales Tax Forms and Sales Information
• Receipts (cash and credit card paid)

We appreciate payment enclosed with your bookkeeping

Should additional information be necessary (ie tax forms) we will notify you and should you have concerns, please notify us.

Having the above material ready for us makes us serving you that much better.

If Interested Contact us
734.284.8833
e-mail

Choosing Your Business Entity

One of the most important decisions that a business owner will make is choosing what type of entity to operate as. A business can operate under five different forms(or entities).

Five Types of Entities:

• Sole Proprietor
• Partnership
• Corporations
• Associations
• Limited Liablility Company (LLC)

The decision that you make will affect how you are taxed and plays major roles in management, owner liability, ability to raise capital, and the liquidation process. As your business changes it is also possible to change your form of entity. This could be simple or a very complex. By making an initial informed decision you can save a lot of time and expense.

Understanding both the tax consequences and the operating procedures under each form of organization is vital in the succeess of you as a business owner. R.E.J's can provide you with an excellent source of information regarding entity considerations for your specific situation.

If Interested Contact us
734.284.8833
e-mail