Services

Sound Accounting is a full-service accounting firm offering timely and cost-effective financial management solutions for small businesses and individuals. We help small business owners and self-employed individuals strategically minimize their tax bills, reduce their audit risk, protect their personal assets, and enjoy peace of mind.

Income Taxes

Save Money On Taxes

Dealing with taxes can be a frustrating experience if you do not have the help of a certified tax professional. If you pay too little you end up with a tax bill at the end of the year. If you pay too much you may get a refund check, but that is money that could have been earning interest for you, not the government.
 
Tax professionals can help you utilize the current tax laws to save you money on your taxes and reduce the risks of getting audited.

Get the Personalized Help You Need

Here at Sound Accounting we have a personal practice with over 100+ collective years of tax knowledge to help you; we do not believe in a “one size fits all” approach. We know that everyone’s financial situation is unique and we personalize our strategies to your exact needs.
 
We offer the following:
  • Full-time CPA’s that are available year-round
  • Knowledgeable support staff
  • Remote access and flexible collaboration capabilities

Business Services

Business Valuations

No matter how long you have been in business, knowing the value of your asset is paramount. Business valuation services are recommended for mergers, acquisitions, or equity offerings but even if any of these actions are expected in the medium-term it’s best to understand your current baseline to utilize that information and increase the value ahead of a major event. 

Conducting valuation analysis, whether a calculation of value or a full valuation report, can assist you in benchmarking your company alongside competitors, understanding the financial landscape, and outline future options, such as, succession planning.

Elizabeth Boonin maintains the ABV credential which has been in existence for seventeen years, and is widely recognized by users of valuation services as designating CPAs who have expertise and experience in performing financial valuations of a business, ownership interest, security or intangible assets.

Payroll Services

Constantly changing federal, state, and local laws and tax regulations make payroll management an ongoing challenge for business owners. Our payroll services professionals are well versed on these laws and regulations. We can proactively alert you to material changes that will affect your business and your employees while also keeping payroll running smoothly no matter how large your business and your employee population become.

Bookkeeping and Write-Up

A key factor in running a successful business is being able to measure your success over time. Accurate and timely bookkeeping is a fundamental building block to ensure you are charging enough for your goods and services to cover costs and realize the returns required. 

At Sound Accounting we help with a range of bookkeeping needs from discounts on software, configuration, automation, oversight, and review. We provide guidance by reviewing your financials regularly to highlight successes and areas for improvement. Our accountants are Intuit Quickbooks Certified ProAdvisors and continue to stay current by obtaining additional certifications and attending seminars to ensure we are up-to-date on all of the changes within the industry.

Business Consulting and Management Advisory Services

As a true business partner we are available to help you deal with any business problem or opportunity. We stand ready to engage in business consulting projects to help you make the right decisions for the future of your business. Whether you face questions related to expanding, selling, or restructuring your business, we have the necessary business acumen and analytical capabilities to help you make the right decisions.
 
Our Management Advisory Services focus on improving the efficiency and effectiveness of your business and its operations. We can provide support in business planning, mergers, acquisitions, and other advisory support.

Business Entity Selection Services & Startup Services

The business entity—LLP, LLC, sole proprietorship, partnership, corporation, etc.— that you select for your business has enormous financial and tax implications. It is important that you make the right decision. We can explain each choice and its implications. We can form any business entity that is chosen with New York state. As your business grows and changes the type of business entity you choose may need to change also.

In addition to entity selection, we assist new businesses with:

  • Business start-up consulting
  • Accounting and management systems integration support
  • Assistance obtaining financing

Tax Planning

Benefits Of Tax Planning

Sound Accounting will help you strategize to get the biggest refund that you are possibly owed. Tax planning sets you up for future years to reduce your liabilities when tax time comes.
 
Our services help you:
  • Save taxes by staying up-to-date on current tax laws
  • Get the lowest tax liability using current tax laws
  • Create a tax planning strategy to minimize taxes throughout the year

Tax Preparation and Planning

Effective tax preparation and planning can help you to minimize your future tax liability. We can help you proactively manage both your personal and your business tax issues, including understanding how upcoming business opportunities impact your tax status and vice versa. Not all tax planning opportunities are readily apparent. By having us on your team you are more likely to benefit from those opportunities. We understand how the latest federal, state, and local tax legislation and other developments affect you and your business and we are constantly identifying new ways to reduce federal, state, or local tax liabilities.

IRS Representation

An IRS audit can be an intimidating and complex process. If you or your business face an IRS audit we can offer our years of experience in dealing with tax matters and IRS audit procedures to ensure that you are properly represented when dealing with the IRS and other tax authorities. We have accountants that are enrolled to practice before the IRS.

How We Can Help You Plan for Taxes

  • Create a plan to strategically exercise employer stock options to minimize taxes
  • We will check to see if there is not too big of a refund or a payment due at tax time. This could be caused by an incorrect amount of tax withholding taken out of your paychecks
  • See if contributing to a donor-advised fund can capture your current charitable giving, but also give you a nice tax deduction this year
  • Decide if a charitable remainder trust can greatly reduce your tax liability for a large life event such as selling your business

Wealth Management

Let Us Manage Your Financial Nest Egg

Sound Accounting will ensure that you are retiring comfortably with a comprehensive financial plan and our extensive wealth management services which include:
  • Asset Management
  • Investment Management
  • Offering a diverse portfolio of investment products ranging from stocks to mutual funds to annuities
  • IRA and 401k Rollover

Prepare Your Family for the Unexpected

There is more to wealth management than saving and investing. It is also important to prepare for the unexpected when thinking about your finances.
Sound Accounting can aid in that as well with services that include:
  • Life Insurance
  • Disability Insurance
  • Long-Term Care Insurance and more

Financial Planning

If You Find Yourself Asking…

  • Am I going to have enough money to retire?
  • Am I going to live longer than my savings?
  • Am I managing my assets the best way?
Let Us Help Guide You

Discover Your Financial Roadmap

Retirement planning is critical in these uncertain times. Whether you are developing a retirement plan for yourself or choosing a retirement plan to offer to your employees, we can help you evaluate the available options.
 
Our focus is on helping you to make the choice that is most appropriate for your own financial situation. If you are choosing a retirement plan for your business we will base our recommendations on the unique characteristics of your business and your employee population, as well as the legal and compliance issues related to each type of plan.

How We Can Help

  • Comprehensive financial planning for all of your needs
  • Independent research, which includes market research for 401k, assets, investments, etc.
  • Non-proprietary investments
  • College planning, wealth management, estate, wills and trust, protection planning, life planning, and holistic planning

Why You Can Count On Us

  • We have a financial advisor that is a part owner of the tax practice
  • We have 5 full-time advisors and licensed staff
  • Many of our advisors are on the premises during the tax season to answer all your financial planning and investment questions

Estate and Trust

Will, Estate, & Trust Tax Preparation

Estate matters affect everyone. By taking proactive steps today you can ease the way for your heirs during a very difficult time. We work with our in-house legal counsel to help you develop and structure your will, estate, and trusts to minimize taxes and ensure the smooth transition to your heirs. We are available to handle all estate and trust tax-related matters.

We Have The Resources to Help

We have estate planning and elder care attorneys that we work with directly. We play the quarterback and put all the professionals together to make sure every i is dotted and every t is crossed. Once the attorney drafts the documents we help make sure all your beneficiary designations are completed correctly and all the assets are properly labeled. We also make sure that these changes do not cause a tax issue currently or down the line.

Why You Are In the Best Hands

Rarely do you have an attorney that will come and meet with you at your financial advisor’s or CPA’s office and make sure everyone is on the same page. We have been working with our clients in this manner for over 20 years. Because we refer so many of our clients to our attorney, our attorney is very reasonably priced compared to the large law firms.