Our firm has the resources, experience, and depth of knowledge to offer the following services to both individuals and businesses. We can deliver the services you need in a professional, fast, and cost-efficient manner.
Compilation, Review, and Audit Services
Jonlyn & Associates provides professional compilation, review, and audit services to businesses of all sizes. We can quickly compile your financial records into meaningful GAAP-compliant financial statements, offer limited-scope review testing, and can deliver complete audit reports.
IRS ERISA Audits
Most 401K, Profit Sharing or Pension plans with over 100 participants require an annual audit to be attached to the IRS form 5500 filing. Jonlyn & Associates can provide the necessary ERISA compliant financial statements and report. This audit is usually done seperately from your corporate audit, so we can work with your current CPA firm as most firms no longer want to perform these audits.
Illinois Charitable Non-Profit Audits
Many Non-Profit organizations need to have an audit for the Illinois Attorney General along with the IL AG990 tax form. Effective 2009 the IRS has changed the 990 and 990T tax forms. 501(c)3 charities of any size must now file an annual tax return, even if they had little or no activity. John Pezzullo and Katie Bachi have both attend the IRS and Illinois CPA society training sessions on these new forms and requirements which are effective for the current tax year. Jonlyn & Associates can provide the necessary compliant financial statements, reports and tax returns. The audit, if required for your Illinois AG 990, is usually done seperately from your corporate audit, so we can work with your current CPA firm.
IRS Offer in Compromise OIC
Settle your IRS Tax Problem for pennies on the dollar. If your Internal Revenue Service tax problem liability is greater than $40,000 and you can't afford to pay it, you may qualify for an Offer in Compromise. The Offer is a structured Internal Revenue Service program. It allows the delinquent or non-filing taxpayer to offer the IRS a smaller amount than the amount you actually owe. If the OIC is accepted, and after you pay the amount accepted by the IRS, the past due tax liability will be eliminated. Fees begin at $5,000.00
Tax Return Preparation
Jonlyn & Associates offers professional preparation of all federal, state, multi-state, and local tax returns at competitive, affordable rates. We charge $95.00 per hour for tax return preparation. Individual IRS 1040 fees begin at $210 while sole proprietor business schedule C tax returns start at $400. Corporate form 1120, S-Corp form 1120S, Partnerships and Limited Liabitility Corporations (LLC) 1065 tax returns begin at $1,200. Electronic filing is available at no extra charge. For Relocating employees, we can review your tax gross-up calculation provided by your company for an additional charge of $100 to $150. We continuously monitor federal & state tax law changes to allow our clients to minimize current & future tax liabilities.
Jonlyn & Associates can prepare professional, GAAP-compliant financial statements as well as tailor-made financial analyses that can help business owners and managers eliminate inefficiency and realize a business's full profit potential. We are able to prepare Financial Audits, Reviews or Compilation reports.
Fraud Prevention and Forensic Accounting
Nobody likes to think about being robbed by an employee, but it can happen. Our firm has the knowledge to protect your assets from employee theft and can implement the systems to detect and deter fraudulent activity. For those unfortunate to have incurred a loss, our Forensic accounting team can be utilized to determine the extent of loss and what happened to the missing funds or assets.
IRS and State/Local Representation
Our firm knows the tax laws, and we know how your tax return was prepared. We can provide complete representation services before the IRS as well as state and local taxing authorities. We are also experienced in negotiating Offers in Compromise with the IRS to help reduce your tax liabilities.
Quickbooks / Peachtree Assistance
Our bookkeepers and CPA's are experienced in QuickBooks and Peachtree software. They are available to assist your business on site or in our offices. As Quickbooks Professional Advisors they are able to help train your staff. Monthly checkups of your Quickbooks and Peachtree data can be easily performed over the Internet.
Our firm provides full-charge bookkeeping services, including general journal and subsidiary ledger maintenance, bank statement reconciliation, and receivables and payables tracking and analysis. These services can be performed on site at your office or at our location easily from your check register or source documents. Fees are dependent on the complexity and volume and start at $65.00 per hour.
Our firm offers complete payroll preparation and payroll tax reporting services. We prepare all federal and state quarterly and annual returns. Weekly payroll with direct deposit begins at $36.00 for up to 5 employees. With our payroll service the quarterly tax returns are included in the pricing, but if you do your own payroll we can prepare the quarterly 941 tax returns are charged at a rate of $160.00 per quarter for Illinois taxpayers plus W-2's and 1099's at the end of the year.
Sales Tax Services
Our firm prepares all sales tax registrations and filings in most states. Jonlyn & Associates also offers full sales tax audit representation.
Buying & Selling a Business
Our firm advises prospective business purchasers about local market conditions, industry trends, and the financial condition of an acquisition candidate. If you are selling a business, we can offer advice for obtaining the best possible sales price and contract payout terms.
Cash Flow & Budgeting Analysis
Our firm offers expert cash flow and budgeting analysis that can help you minimize cost overruns, lost purchase discounts, and uncollectible receivables. Many of our clients state that these value-added services are indispensable.
Our Firm offers a complete range of accounting services, including receivables, payables, and payroll management. We prepare financial statements in accordance with Generally Accepted Accounting Principles (GAAP) for use by banks, investors, and other third parties. Our firm will also prepare custom financial reports for internal, managerial use.
Estate, Gift and Trust Tax Return Preparation
Our firm provides expert preparation of federal and state estate, gift, and trust 1041 tax returns.