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As a trusted CPA outsourcing services in India, We provide the best services like monthly book-keeping, tax preparation, audit and assurance, internal audits, payroll management and a business strategic partner. We also help with our customized solutions and services for our clients globally who are outsourcing accounting work to India.

TAX PREPARATION SERVICES

Madras Accountancy has been one of the leading accounting outsourcing companies in India. We can assist you with end-to-end solutions in  preparing taxes, regulating policies and restructuring your business models for small and large scale businesses. Your taxation work turns out to be a lot simpler, smooth and effective by placing your requirements into the hands of a highly experienced CPA outsourcing firm in India, that understands the best practices and knows how to meet the client’s needs with a dedicated team of highly skilled & trained professionals. We are one among the top US  tax preparers in India.

Our tax services include:

  • Individual Tax Returns (Form 1040, 1040-EZ, 1040-NR)
  • Business Tax Returns (Form 1065, 1120, 1120S)
  • Not-for Profit Returns (Form 990, 990EZ)
  • Estate and Gift Tax Returns (Form 706, 709)
  • Tax Planning
  • Credits and Incentives
  • Tax Controversy

BOOKKEEPING

Maintaining day-to-day bookkeeping is one of the main tasks of the daily activities. Considering the importance, forming an accounting division,  hiring and training staff and purchasing software will cost you higher. You can benefit by outsourcing bookkeeping to India. Several large, medium, small scale companies and Certified Public Accountants are already reaping benefits of outsourced bookkeeping in India with Madras Accountancy. We manage all bookkeeping Services such as Outsource General Bookkeeping, Financial Statements Preparation, Outsource Accounts Reconciliation and Outsource Inventory Recording Analysis that aim to reduce the costs of our CPAs by working as a virtual back office right from set-up, support, maintenance and consultancy. Our team of dedicated and well-trained professionals will maintain your books in an efficient and productive manner.

Our Book keeping Services includes but not limited to :

  • Book keeping (Monthly, Quarterly and Annually)
  • Bank reconciliations
  • Accounts payable management
  • Accounts receivables management
  • Quick books Training and Support
  • Business Consulting

AUDIT AND ASSURANCE

Madras Accountancy is a well specialized outsourced accounting and bookkeeping firm and also for end to end audits and assurance services, be it related to financial statements or business processes. Our Mission is to help the CPA firm broaden their assurance services, achieve greater cost-effectiveness or simply service a larger customer base.

We work with our CPAs and clients on a consistent basis to make sure to meet their statutory and regulatory needs including disclosure and to provide constructive and value added delivery. We can work on virtually any platform and provide a wide range of assurance services, based on highly demanding KPIs, thorough quality assurance processes and complete service transparency.

We assist in maintaining statutory records and registers, company law consulting, registrar of companies compliances, other company law compliances and performing the audit procedures, Due Diligence reviews, investigations, international accounting and auditing to ensure compliance with professional standards, regulations and laws.

Our auditors have specialized knowledge in the following assurance services:

  • Financial statement audits
  • Financial statement reviews
  • Compilations of financial statements
  • Employee benefit plan audits
  • Internal control reviews
  • Agreed-upon procedures
  • Forecasts and projections
  • Internal control evaluations

PAYROLL

What we do:

  • Do regular payroll and after the fact payroll for our clients.
  • Processing all frequencies of Payroll – Weekly, Semi-weekly, Bi-monthly & Monthly based on the client’s nature.
  • Payment of Payroll Taxes to IRS & the State on timely manner.
  • Preparation of Quarterly Form 941 & State forms for the clients and filing the return well before the deadline.
  • Preparation of W2/W3 during the year end.
  • Helping Clients on any payroll issues.
  • Submission of Payroll before the payroll processing date for Client’s employees.
  • If Payroll was done by third party provider, agreeing the ‘Payroll’ account in books with the necessary payroll reports.
  • Calculation of Net pay for an employee based on Gross Wages & Form W4.

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US Tax Return Preparation and Planning

  • Individual tax returns – Form 1040
  • Business tax returns – Forms 1065, 1120, and 1120S
  • Estate, gift, and trust returns – Forms 706,709, and 1041
  • Exempt organizations – Form 990
  • Individual tax planning – Preparing quarterly and annual projections using BNA and other tax applications
  • Estate and trust tax planning
  • Expat tax planning
  • Preparation of response packages for IRS and state notices

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Canadian Tax Returns

  • Individual tax returns – Form T1
  • Corporation tax returns – Form T2
  • Partnership returns – Form T5013
  • Expat tax planning

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Bookkeeping and Business Management Services

Madras Accountancy is known for delivering bookkeeping services to businesses in all industries.Our team of dedicated and highly skilled professionals will maintain your books in an efficient and productive manner.

  • Preparation of monthly, quarterly, and annual bookkeeping
  • Business management services related to accounts receivable and accounts payable services
  • Reconciliation of bank accounts, credit card accounts, and vendor discrepancies
  • Bookkeeping clean-up
  • Payroll services including payroll tax returns (Forms 940 and 941), W-2 and W3 filing, payroll reconciliations and Journal Entries.
  • Preparation of forms 1099 and 1096
  • Preparation of sales tax returns and pre-payment forms
  • Preparation of business license renewals
  • Preparation of business property statements (Form 571L)

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Other Services

  • Business registration with Secretary of State and filing of annual returns
  • Applying for EIN for new businesses
  • Preparation of documentation for the IRS and State audits
  • Preparation of response packages for IRS and State notices
  • Setting up the instalment agreement for taxes due with IRS and States
  • Billing Services – Preparation of monthly invoices and A/R management services for the CPA firms

 

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