Personal Tax, Business Tax, Iranian Tax, professional, accounting firm

571-5895574 Mehrdad Barghi

At Abacus Group, we understand the daily challenges 

business owners face. Our strategically designed tax services aid in reducing the load of business owners. From bookkeeping and accounting services to audits and much more, our dedicated team is highly trained in offering you all the business accounting services your business needs.

As a business owner, you’ve got a lot on your plate. From constantly changing tax laws to a cash flow that requires constant monitoring and costs that need to be contained before they spin out of control. With all this and much more happening at the same time, you don’t want to trust your bookkeeping and accounting needs to anything less than the best accounting firm you can find. 

At Abacus Group, we set ourselves apart from other accounting firms thanks to the strength of our team. Employing a wide range of talented professionals with various expertise, Abacus Group serves as an accountant, business consultant and tax liability advisor, all at once.

With our team of trained professionals, you get access to an accounting firm that understands the ins and outs of tax law. Working with privately held companies as their business advisor, we provide small businesses, medium-sized businesses, and large corporations with the accounting and business services they need to achieve their goals, handling everything from bookkeeping and accounting software to tax planning, audits and more. 

Our services are tailored to suit the industry-specific needs of all our clients. Our services include:

• Bookkeeping, QuickBooks, and payroll services
• Streamlined record-keeping processes
• Performance measurement
• Tax planning and tax minimization
• IRS representation
• Litigation support and forensic analysis
• Cash flow analysis and optimization
• Financial forecasts and budgeting
• Year-end planning
• Process automation
• Business valuation
• Succession and estate planning

For business owners, “audit” is a four-letter word that causes much angst – but it doesn’t need to. An audit is simply a financial review to verify that your business’s financial information meets accounting standards. 

The purpose of an audit is to determine if your company developed its financial statements in accordance with the current accounting principles. 

The audit process is fairly straightforward. One of our chartered professional accountants (CPAs) will assess your accounting system and internal controls. They will also collect and review your financial records that support your financial statements. If necessary, our auditing team will further clarify information with management and outside parties on any outstanding issues that arise during the audit. At the end of an audit, your business will receive a well-documented auditor’s report detailing the results of the audit.

Here at Abacus Group, we conduct audits regularly on behalf of clients. Most clients routinely request an audit because the following institutions require audits:

• Banks: If you are seeking a bank loan of more than $5 million, your lending institution will usually require a CPA to independently review your financial records.
• Government agencies: When your firm is a prime contractor at certain contract levels, the government agency requires an audit.
• Bonding companies: Many bonding companies will require an audit when you apply for a high-level bond.
• Potential investors: If you are seeking outside investments, many investors will ask for an independent audit.

From bookkeeping services to help in tax preparation, Abacus Group provides private companies with all the services they require. Apart from audits, compilation and review services are offered to private companies and businesses.

In many privately held companies, a compilation request can be made by internal members of the organization. A board of directors, for example, may request a financial compilation for internal purposes. During a financial compilation, our team will develop financial statements for your company based on the information you provide. During the compilation process, our team does not review or audit the information, nor will they confirm its accuracy with outside parties.

Privately held companies will typically request a financial review if an outside party, such as a lender or bonding company, needs a higher level assessment than a compilation but not a full audit. During a review, Abacus Group conducts outside inquiries and provides a limited analysis of your financial statements, with the findings presented in a review report

When a CPA prepares your financial statements in audits, compilations and reviews, your business can provide the complete information to outside parties. Once they have a better understanding of the minimal risk your business presents, you can enjoy lower financing and bond costs. When large or small business owners wish to sell their businesses, a solid financial statement helps obtain better value.

Abacus Group’s comprehensive auditing services for private companies will meet the requirements of your board of directors, investors, lenders, bonding companies, and government agencies. 

Our business accounting services include:

• A full evaluation of your accounting system and internal controls
• Analysis of your financial statements and data
• Interviews with management and outside parties
• Audit, review, and compilation reports
• Guidance and recommendations around process improvements accounting and financial services tax accounting firm Washington