A corporation is an independent legal entity distinct from its owners. The formation of a corporation takes place when appropriately filled out articles of incorporation (referred to as a charter or certificate of incorporation in certain states) are submitted to the relevant state.authority, along with payment of all associated fees.

Virtually all states mandate that a company designate an agent within the state to receive service of process and official correspondence such as annual reports, tax notices, and compliance-related matters. If the company lacks its own address within the state. it can employ a professional registered agent to meet this obligation. Neglecting to maintain a registered agent typically results in the loss of the company's legal authorization to conduct business within the state.

When establishing a corporation, many states mandate that the corporation specifies the number of shares it intends to make available for sale to potential shareholders. Shares that have been sold are termed "issued" shares, while those that remain available.are referred to as "unissued" shares. If the corporation intends to issue more shares than initially authorized, it must submit an amendment to its Certificate of Incorporation to increase the authorized share count.

To engage in activities such as opening a bank account, hiring employees, or conducting business operations, you must obtain a Federal Employer Identification Number (EIN). This number is acquired by submitting Form SS-4. to the designated Internal Revenue Service center based on your location. For added convenience, we offer a service to obtain this number on your behalf, subject to an additional fee.

Both bookkeeping and accounting services play distinct roles in ensuring efficient financial management. However, we often find our clients confused between the two. So, here is a breakdown of their respective functions: - Bookkeeping involves tasks like:-
Generating financial statements
Reviewing ledger entries for accuracy
Maintaining and documenting transaction records
Reconciling statements with the ledger
Managing daily data operations
On the other hand, accounting services focus on:
Analyzing financial data
Interpreting financial records
Reporting and summarization of the financial data of a business.

Our team relies on some of the most efficient bookkeeping software. Some of the software we use are QuickBooks, Xero, Zoho Books, etc. If you are already using some accounting software we can collaborate with the same, providing you the solution you desire.

Yes, that is exactly what we deal with in our historical bookkeeping services. Our experts are trained in updating your books efficiently, no matter the number of years you are falling back.

We have designed a comprehensive range of accounting packages with reasonable pricing, ensuring you only pay for the services you require. You can get a detailed understanding of them by visiting our Pricing  section.

There are no limitations on the types of businesses we deal with. No matter if you are an LLC, C-Corp, S-Corp, or a non-profit organization, our team has decades of experience in providing tax solutions for them all. Initially, we analyze your business requirements and.assign a suitable expert accordingly. Then, our team will thoroughly understand your business operations and tailor tax preparation services accordingly.

Absolutely! We hire each tax professional after ensuring that they are licensed and IRS compliant. Although these licenses can vary between tax attorneys and IRS-enrolled agents. But you must also note that both of these licences are granted for tax preparation by the IRS.

Our standard turnaround time for service delivery is typically 5 working days. However, we can expedite the process in urgent situations that meet your business needs. Sign up today to learn more about our taxation services.

Yes, our tax services are powered by Drakes. This software helps us efficiently manage tax filings.

No, all you have to do is sign up with us, answer a few income and expense-related questions, and submit your tax documents. Our tax experts will take care of the rest.

This credit allows eligible employers offering childcare facilities or services for their staff to claim a credit for a portion of the qualified childcare expenses incurred. It is designed to offset 25% of the qualified childcare facility expenses and 10% of resource expenses.

Yes! Our tax experts specialize in both personal income and state tax filings. These filings are covered in addition to our business tax filings.

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Profitsview is a provider of back-office services, including bookkeeping, controller services, and CFO services. profitsview is not a public accounting firm and does not provide services that would require a license to practice public accountancy.