100% U.S. based affordable Finance and Accounting Outsourcing (FAO) Services

ABA Tax Accounting Finance and Accounting Outsourcing Services
ABA Tax Accounting Finance & Accounting Outsourcing provides companies with high performance within finance. Outsourcing finance and accounting presents a series of unique challenges that require expertise and sophisticated technology. The competitive advantage in every industry goes to those financial managers who strategically leverage lower costs and streamline their business processes. Equally, this must be balanced with ensuring compliance with GAAP, IFRS and the Sarbanes-Oxley Act.

The task of the Chief Finance Officer and other finance executives has changed drastically with the constant effort companies are employing, seeking to align company objectives with finances. Aside from fulfilling the tasks expected of CFO’s, controllers and finance executives, they are also being expected to contribute to the enhancement of the company, by driving down costs while improving efficiency.

By outsourcing certain finance and accounting functions your company can gain the necessary room for innovation that you need in order to cut on costs, while improving internal controls, and thus driving a transformation of your finance and accounting operations. ABA Tax Accounting is ready, willing and able to assist you in performing finance and accounting services which include:
• General Accounting and Bookkeeping
• Accounts Payable
• Accounts Receivable
• Tax Return Preparation Service
• Outsourced Staffing Service

You would realize a range of benefits by outsourcing your finance and accounting outsourcing needs with ABA Tax Accounting. We understand that your requirements are unique, and we work with you to ensure our solutions achieve your business objectives.

General Accounting and Bookkeeping Outsourcing
Accurate and timely bookkeeping and maintenance of various day to day accounting books in order to record financial transactions such as sales, purchases, income and payments is essential in running a business. A simple data entry error can have a significant effect on the financial statement. Therefore, decisions made based on wrong numbers will definitely have a negative impact on your company. An effective accounting and bookkeeping process must be able to track and maintain your income and expenses as well as collect the necessary financial information for your various tax returns. We offer accounting and bookkeeping services including Bank Reconciliation services among others.

Accounts Payable Outsourcing
Accounts payable (A/P) or payables is an important function in finance and accounting. Your company’s ability to track and maintain payment obligations for various different transactions can affect your standing as a business as well as your credit rating. Prompt payments to your vendors can ensure prompt delivery of goods or services that you need in order to be able to deliver the best products and services to your clientele. Prompt payment also ensures that you keep costs at a minimum, avoiding costly fees such as late payment fees being deducted from your budget. Thus it is important to have an efficient and reliable accounts payables process in place which ensures that you can keep track of all your transactions and payments that you need to make every single day. ABA Tax Accounting’s accounts payable outsourcing services include but are not limited to:
• Purchase Order Matching and Entry
• Check Preparation
• Travel and Expense Claims Processing
• Credit Card Processing
• Vendor Master Maintenance Service
• Tax Preparation and Filing
• Insurance Claims Processing

Accounts Receivable Outsourcing
Managing accounts receivables (A/R) or receivables efficiently is a requirement for every company. But time constraints and a need of manpower and other resources may place pressure on a company seeking not just an efficient accounts receivable process, but also continuous growth centered on innovation. By outsourcing accounts receivable processing, business managers are able to focus on core business tasks while simultaneously trimming costs of finance and accounting, and boosting the company’s productivity and profitability. With ABA Tax Accounting’s reliable accounts receivable outsourcing services we can assist your company at any point in your accounts receivable process including:
• Sales Order Processing
• Invoice Processing
• Accounts Receivable Collection
• Accounts Receivable Custom Reporting

Outsourced Tax Return Preparation Services
CPAs and Accounting firms find it very difficult to handle the hectic client demand during the tax season. For these reasons they are discovering that outsourcing these back office functions saves payroll and other overhead costs and frees up valuable time. More and more accounting firms are opting for outsourcing tax return preparation to help minimize operating costs, maximize efficiency and gain competitive advantages. ABA will prepare your tax return and provide you with the finished files. Using ABA to outsource the tax return preparation process is simple. Scan and upload, or fax the source documents to ABA. Our outsourced Tax Preparation Services are supervised by EAs or CPAs. All types of tax returns are processed by ABA for businesses and accounting firms including:
• Individual Tax Preparation – Form 1040
• Business Tax Preparation – Form 1065, 1120, 1120s, 1041, 990

Outsourced Staffing Services
ABA Tax Accounting can provide any number of CFOs, Controllers, Staff Accountants or Bookkeepers on demand at the shortest notice, with a minimum of four hours per day, for any number of hours per week or per month. Beyond the high quality professional services rendered there is a vested advantage to your company as these services come devoid of any employment benefits to your company. Outsourcing saves money, eases workload, and gets you the know-how you need when you need it most.

ABA Tax Accounting provides customized, high-quality, cost effective and 100% U.S. based finance and accounting outsourcing solutions for Accountants / CPA firms as well as other small, medium, large businesses, non-profit organizations, and federal, state, local governments who do not want to have a large in-house accounting team. Our aim is to reduce the burden of “behind the scene” functions of businesses so that they can focus on their core revenue generating roles.

By partnering with ABA Tax Accounting, you can focus on growing your business while we take care of the rest. We can help you divest yourself of the headaches associated with managing your financial information. We can make sure that your books are always in order and that you receive the necessary financial reports, thereby improving your profits. At ABA Tax Accounting, we develop Dedicated Operating Teams which act and operate as if they are an internal department of your company without the risks and costs of setting your own office.

Why Outsource?
Do you want to build your revenue, reduce your expenses and expand your capabilities at the same time? Do you want to get access to highly skilled resources and significant cost savings? Do you want to concentrate more on your core business? Do you worry about HR, workplace, or facility issues that commonly derail expansion programs? ABA Tax Accounting outsourcing will give you a competitive advantage and provide numerous outsourcing benefits, including:
• Reduction in expenditures
One of the biggest reasons why businesses seek an outsourcing partner is in order to lower overhead costs and expenses. Immediate savings to the client are derived from the ABA Tax Accounting lower cost in wages, benefits, and operational expenses.
• Ability to refocus on your bottom line
By outsourcing to ABA Tax Accounting the non core activities you are effectively realigning your whole company’s operations towards activities that help grow your business. Whether this would be product development, sales, services and other activities, having an outsourcing partner that will drive non-core activities for you will help you achieve your targets and improve your bottom line.
• Diversification and expansion of your talent pool
ABA Tax Accounting outsourcing affords you with a bigger talent pool from which to build your teams. For start-ups, outsourcing would give you access to skilled and experienced employees who can assist you with building your business. For medium sized companies building an outsourced team to complement an existing team would allow greater flexibility and would increase capabilities in their market.
• Increased control over business outcomes
ABA Tax Accounting outsourcing gives companies the ability to manage and organize business results in a variety of critical areas, including increasing reliability, improving cost variability and allowing effective planning and implementation of ideas.
• Improved adaptability to changing environments
The diversification of a company toward an outsourced vendor helps share risk. It allows companies to apply strategies and modifications at a faster and more controlled rate.

Why Outsource with ABA Tax Accounting?
While the concept of outsourcing is simple, finding an outsourcing partner whom you would actually rely on and trust to help you build and grow your business is another story. By outsourcing with ABA Tax Accounting you not only gain the benefits above, but you also gain a reliable and trusted outsourcing partner who will treat your business like its own. We gain our clients trust by working with them and adapting with them as their business grows and their requirements change.

How it works
Quite simple, really! An accounting system is eventually about various business documents being listed, processed to certain business rules and updated into books of accounts. You get a high speed scanner and get all business documents (purchase orders, supplier invoices, goods arrival reports, sales orders, delivery reports, sales invoices, collections, payments, expense reports, payroll inputs) scanned and stored into our secured and the state of the art CyberCabinet.

Why offshore while you can outsource onshore for about the same amount and create jobs here in the USA! If you want to get started utilizing ABA Tax Accounting Outsourcing Solution, please call us today at toll free 866-936-0430 or email amare@abataxaccounting.com.

You’re Never Alone with ABA Tax Accounting Solutions.

You’re Never Alone with ABA Tax Accounting Solutions.
Taxes are a fact of personal and business life. The question you face is, how will you minimize the impact of taxes? What kind of expertise do you need to help you achieve your goals? ABA Tax Accounting has answers to both questions, delivered by tax specialists who work proactively in a personal, one-on-one relationship. Whether you need to structure an international transaction, reorganize your business, transfer family property or defer tax on the sale of assets, ABA Tax Accounting provides a wide array of services that cover every aspect of your business and personal finances.
For a Free Consultation call or email:
ABA Tax Accounting
Amare Berhie, Senior International Tax Advisor
amare@abataxaccounting.com
Toll free 866-936-0430
http://www.abataxaccounting.com

100% U.S. based affordable Outsourced solutions provider!

100% U.S. based affordable Outsourced solutions provider!
ABA Tax Accounting offers outsourcing solutions for Accountants and CPA firms as well as other small, medium, large businesses and non-profit organizations nationwide that do not want to have a large in-house accounting team.
For Free Consultations call or email:
ABA Tax Accounting
Amare Berhie, Managing Member
amare@abataxaccounting.com
Toll free 866-936-0430

IRS Revokes Exemptions for 5132 Minnesota Non-Profits

The IRS has pulled the tax-exempt status of at least 5132 Minnesota non-profits, all of which are believed to be now defunct or in violation of tax rules. If your organization has lost your tax-exempt status, ABA Tax accounting has very affordable fees and can assist you in the re-instatement process. For Free Consultations call or email:
ABA Tax Accounting
Amare Berhie, Senior Tax Accountant
amare@abataxaccounting.com
Toll free 866-936-0430
http://www.abataxaccounting.com

Report of Foreign Bank and Financial Accounts (FBAR) Due June 30.

Report of Foreign Bank and Financial Accounts (FBAR) Due June 30. Taxpayers, including tax-exempt organizations, with foreign accounts whose aggregate value exceeded $10,000 at any time during 2010 must file Treasury Department Form. This form is due June 30, 2011, and is filed with the Treasury Department. Because it is not a tax form, the June 30 deadline applies, even if a taxpayer obtains a tax-filing extension.
For Free Consultations call or email:
Amare Berhie, Senior International Tax Advisor
ABA Tax Accounting
amare@abataxaccounting.com
Skype id “amareberhie”
Direct 612-282-3200
Toll free 866-936-0430
http://www.abataxaccounting.com

Guidance for Organizations Automatically Revoked for Failure to File a Return or Notice for Three Consecutive Years and Contributors

Guidance for Organizations Automatically Revoked for Failure to File a Return or Notice for Three Consecutive Years and Contributors. The IRS has issued a number of guidance items related to the auto-revocation of organizations who have failed to file an annual return or notice for three years. The guidance provides information for contributors as well as information for organizations seeking reinstatement of exemption. For more information on the reinstatement process, including retroactive reinstatement, please feel free to contact us.
ABA Tax Accounting
Amare Berhie, Senior Tax Accountant
amare@abataxaccounting.com
Toll free 866-936-0430
http://www.abataxaccounting.com

275,000 Organizations Automatically Lost Tax-Exempt Status!

275,000 Organizations Automatically Lost Tax-Exempt Status!
The Internal Revenue Service said on June 8, 2011 approximately 275,000 organizations automatically lost their tax-exempt status under the law because they did not file legally required annual reports for three consecutive years.

Congress passed the Pension Protection Act in 2006, requiring most tax-exempt organizations to file an annual information return or notice with the IRS. For small organizations, the law imposed a filing requirement for the first time in 2007. In addition, the law automatically revokes the tax-exempt status of any organization that does not file required returns or notices for three consecutive years.

As part of this, the IRS issued guidance on how organizations can apply for reinstatement of their tax-exempt status, including retroactive reinstatement. In addition, the IRS announced transition relief for certain small tax-exempt organizations—those with annual gross receipts of $50,000 or less for 2010—that were made subject to the new “postcard” filing under the PPA. The relief allows eligible small organizations to regain their tax-exempt status retroactive to the date of revocation and pay a reduced application fee of $100 rather than the typical $400 or $850 fee.

If an organization appears on the list of organizations whose tax-exempt status has been automatically revoked, it is because IRS records indicate the organization had a filing requirement and did not file the required returns or notices for 2007, 2008 and 2009.

The list of organizations whose tax-exempt status has been revoked for failing to meet their filing requirement, available on the IRS website at http://www.IRS.gov, includes each organization’s name, Employer Identification Number (EIN) and last known address. The IRS will update the list monthly to include additional organizations that lose their tax-exempt status.

This listing should have little, if any, impact on donors who previously made deductible contributions to auto-revoked organizations because donations made prior to the publication of an organization’s name on the list remain tax-deductible. Going forward, however, organizations that are on the auto-revocation list that do not receive reinstatement are no longer eligible to receive tax-deductible contributions, and any income they receive may be taxable.

Publication on the list of organizations whose tax-exempt status has been revoked serves as notice to donors and others that they may no longer rely on a prior listing in IRS Publication 78, Cumulative List of Organizations, as an indication of an organization’s tax-exempt status or its eligibility to receive tax-deductible contributions.

Based in Saint Paul, Minnesota, ABA Tax Accounting has been helping clients in Minnesota and surrounding states grow their businesses since 1989. We provide federal and state income tax planning and preparation services for privately held companies, non-profit organizations, individuals, estates, trusts, partnerships, and corporations. Our experienced professional staff understands tax and compliance regulations so that you don’t have to. We advise our clients of important changes in tax laws before they occur. We make certain our clients are aware of and meet all filing deadlines with time to spare. For more information on the reinstatement process, including retroactive reinstatement, please feel free to contact us.
Amare Berhie, Senior Tax Accountant
ABA Tax Accounting
amare@abataxaccounting.com
Toll free 866-936-0430
http://www.abataxaccounting.com

IRS Gives Tax-Exempt Hospitals Some Leeway!

IRS Gives Tax-Exempt Hospitals Some Leeway.
The Internal Revenue Service recently said that some parts of Schedule H on the Form 990 are optional for the 2010 tax year for tax-exempt organizations that operate one or more hospital facilities. For Free Consultations call or email:
Amare Berhie, Senior Tax Accountant
ABA Tax Accounting
amare@abataxaccounting.com
Toll free 866-936-0430

100% U.S. based finance and accounting outsources solution!

ABA Tax Accounting offers outsourcing solutions for Accountants and CPA firms as well as other small, medium, large businesses and non-profit organizations nationwide that do not want to have a large in-house accounting team; outsource accounting service, outsource bookkeeping service, outsource tax return preparation services and outsourced staffing services.
For Free Consultation call or email:
Amare Berhie, Managing Member
ABA Tax Accounting
amare@abataxaccounting.com
Toll free 866-936-0430

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