Tax Services

Shah, Dixit & Associates PC can provide you with extensive tax consulting, compliance, planning & preparation for individuals and businesses. Our firm views tax planning and tax preparation as integral components of each other. Tax services for individuals are geared to enable them to reduce tax liability, take advantage of tax benefits, and preserve wealth. We specialize in the preparation of returns for various types of business entities including corporations, partnerships, trusts, estates and not-for-profits. Keeping with current economic realities, a significant number of our clients operate in multiple states as well as internationally. We are, therefore, very conversant with multi-state tax reporting and compliance issues as well as with US tax requirements for businesses operating internationally and for owners of such businesses. 

Shah, Dixit & Associates PC has the expertise to handle all your accounting needs including bookkeeping, general ledger and financial statement preparation, cash flow management, accounting program identification and installation. Our services are cost-effective. Small business owners often rely on their accountants to keep their books. We provide an array of services specifically designed to your business needs to enable you to concentrate on the important job of managing and growing your business. We generate and provide you with reports that enable you to track the success of your business in a timely manner. Often sloppy and tardy bookkeeping cripples management in identifying and rectifying problems resulting in impediments to business growth and profitability. 

Shah, Dixit & Associates PC has the experience and knowledge to take care of all your reporting requirements including reviews and compilations. Reviews and compilations are considerably less in scope than an audit. When CPAs prepare or assist in preparing financial statements, they are required under professional standards to issues a report on those financial statements. For small, closely held companies, which are not required to have an audit, most often the assurance provided by a compilation or review is adequate. The purpose of these engagements is to add credibility to and enhance the reliability of the company’s financial statements.

We perform compilations and review services in accordance with the Statements on Standards for Accounting and Review Services issued by the American Institute of Certified Public Accountants. A compilation is the presentation of information in the form of financial statements that are the representation of management. A review engagement goes a step further than a compilation. It requires all of the procedures necessary for a compilation engagement, plus additional procedures that enable the accountant to provide limited assurance on the financial statements. The additional requirements are inquiries of client management and analytical procedures applied to the financial data.

Shah, Dixit & Associates PC has considerable experience in guiding entrepreneurs in navigating the requirements of new business formation, entity selection, buying and selling of businesses. All these activities require depth of knowledge and an understanding of industry and tax laws. As valuable advisors, we are in a unique position to help with business consulting services. While most accountants stop with the delivery of financial statements, we are committed to helping our clients understand their financial statements and enabling them to utilize these financial statements for managing growth. We view the preparation, analysis and comprehension of financial statements as one of the cornerstones in the operation of a successful business. We help clients with strategic business planning to ensure the sustenance and growth of their businesses. These encompass developing strategies to start and run successful businesses as well as cost and differentiation strategies to enhance growth and profitability.