Accounting and Bookkeeping
Let our experts handle the numbers, so you can focus on growing your business.
Accounting and Bookkeeping Services in the USA
Accurate bookkeeping is the foundation of any successful business. It ensures your financial records are organized, compliant, and ready for required filings. However, managing your books can be overwhelming, especially when navigating complex tax regulations and growing business needs. At TMP, we go beyond basic bookkeeping by providing expert guidance to help your business stay compliant and avoid regulatory pitfalls. Our team of experienced CPAs leverages cloud-based accounting solutions and advanced tools to deliver precision, efficiency, and peace of mind. Let us take the burden off your shoulders and handle the complexities of compliance, so you can focus on growing your business with confidence.
We never had to worry about accounting department turnover because we knew TMP had a dedicated team assigned to our file. Never any downtime or headhunting. 
CEO, WellnessLiving Inc.
What We Offer
Accounting and Bookkeeping Regulations in the US:
Key Compliance Requirements
Accurate bookkeeping and accounting are critical for ensuring compliance with federal and state regulations, safeguarding your business from costly penalties, and supporting strategic decision-making. Here are the key compliance factors every CEO and business leader should know.
IRS Recordkeeping
Requirements
The IRS requires businesses to maintain detailed financial records to substantiate income, expenses, and deductions. Essential records include:
- Income statements and receipts
- Expense receipts and invoices
- Payroll records
- Bank and credit card statements
Tax Compliance
and Reporting
Proper bookkeeping ensures accurate reporting of income and deductions, which is essential for compliance with federal and state tax laws. Key forms include:
- Form 1120: Corporate income tax return
- Form 1099: Contractor payments reporting
- Payroll Tax Forms: Compliance with withholding and remittance obligations
Audit
Preparedness
Accurate bookkeeping ensures your business is audit-ready. From reconciling accounts to maintaining comprehensive documentation, staying compliant minimizes risks during audits.
Retention
Period
Businesses are generally required to retain records for a minimum of three years. However, in cases of underreported income or other exceptions, retention may be required for up to six years.
Sales Tax and
Nexus Tracking
For businesses selling goods or services in taxable states, accurate sales tax tracking is critical. Compliance includes
- Remitting sales tax based on state-specific requirements
- Monitoring thresholds for nexus to avoid penalties
Payroll
Compliance
Bookkeeping includes maintaining payroll records to meet IRS requirements for:
- Tax withholding
- Social Security and Medicare
- Unemployment taxes
What is Cloud Accounting?
Cloud accounting uses online software to manage financial records, providing real-time access and automation for efficient bookkeeping. Unlike traditional methods, cloud-based solutions operate securely in the cloud, offering flexibility and scalability.
Real-Time Insights
Access up-to-date financial data anytime, anywhere.
Scalability
Adapt to your business’s growth with ease.
Automation
Simplify invoicing, expense tracking, and reconciliations.
Security
Protect financial data with advanced encryption and backups.
Collaboration
Work seamlessly with your team and accountant online.
Cost Efficiency
Reduce expenses by eliminating the need for on-premise software, IT maintenance, and manual processes.
Real-Time Insights
Access up-to-date financial data anytime, anywhere.
Automation
Simplify invoicing, expense tracking, and reconciliations.
Collaboration
Work seamlessly with your team and accountant online.
Scalability
Adapt to your business’s growth with ease.
Security
Protect financial data with advanced encryption and backups.
Cost Efficiency
Reduce expenses by eliminating the need for on-premise software, IT maintenance, and manual processes.
Cloud accounting is essential for businesses looking to save time, reduce costs, and streamline financial management in today’s competitive market.
Why Us
Educating Clients
We focus on empowering our clients with the financial knowledge and resources needed to make informed decisions and achieve long-term success.
Seasoned Experts
Our team of experienced professionals brings extensive expertise in accounting and tax regulations, delivering reliable and thorough solutions tailored to your needs.
Personalized Solutions
We customize our services to fit the unique financial circumstances and goals of each client, offering targeted solutions that effectively address their challenges.
Modern Approach
Leveraging the latest technologies and innovative strategies, we deliver efficient, forward-thinking accounting and tax services designed to meet the evolving demands of businesses and individuals.
Frequently Asked Questions (FAQs)
Find answers to common questions about Democracy
Our bookkeeping service is comprehensive and tailored to meet your business needs. It includes cloud-based accounting for seamless access to your financial data, expert CPA reviews to ensure accuracy and compliance, account reconciliations to keep your records up-to-date, and complete management of accounts payable and receivable.
We follow IRS guidelines for recordkeeping and ensure all financial records are accurate, complete, and tax-ready.
Yes, we handle all aspects of invoicing, payment tracking, and cash flow management to keep your business running smoothly.
We work with businesses of all sizes, from startups to established enterprises, across various industries.
We provide customized financial reports on a schedule that fits your needs, whether weekly, monthly, or quarterly.
Yes, we track sales tax obligations and ensure timely filing and remittance in compliance with state laws.
We are proficient with leading bookkeeping tools like QuickBooks, Xero, and other platforms tailored to your business requirements.
We provide tax-ready books to simplify the tax filing process, working closely with your tax professional or CPA.
Absolutely. We can set up or optimize your bookkeeping system, including choosing the right software and structuring accounts.
Bookkeeping involves systematically recording and organizing a company’s financial transactions. It’s essential for tracking financial health, ensuring compliance with tax laws, and making informed business decisions.
Bookkeeping focuses on recording daily financial transactions, while accounting involves interpreting, analyzing, and summarizing this data to generate financial statements and strategic insights.
Regular updates are crucial. Many businesses opt for daily or weekly recording of transactions to maintain accurate and up-to-date financial information.
Accurate records simplify tax preparation, ensure compliance with IRS regulations, and help identify eligible deductions, potentially reducing tax liabilities.
Stay informed about federal and state tax laws, maintain meticulous records, and consider consulting with a professional to ensure compliance and optimize financial practices.
Keep detailed records of all financial transactions, including invoices, receipts, bank statements, payroll records, and tax documents, to ensure accuracy and compliance.
While software can automate many tasks, a professional bookkeeper offers expertise in interpreting data, ensuring compliance, and providing personalized financial advice.
Inaccurate bookkeeping can lead to financial mismanagement, cash flow issues, tax penalties, and poor business decisions due to unreliable financial data.
How much will it cost for TMP to handle our accounting and bookkeeping?
Basic
Transaction Volume:
Up to 75 transactions per month
Accounts Receivable & Payable:
Up to 5 AR/AP entries per month
Cloud Accounting:
Up to 5 AR/AP entries per month
Bank & Credit Card Accounts:
Bank & Credit Card Accounts:
Expert
Transaction Volume:
Up to 150 transactions per month
Accounts Receivable & Payable:
Up to 15 AR/AP entries per month
Cloud Accounting:
Advanced maintenance and reporting features
Bank & Credit Card Accounts:
Reconciliation for up to 5 accounts
Premium
Transaction Volume:
Up to 300 transactions per month
Accounts Receivable & Payable:
Up to 50 vendors and customer Full-service management, including invoicing and vendor payments
Cloud Accounting:
Full setup, maintenance, and integration with custom reporting
Bank & Credit Card Accounts:
Reconciliation for unlimited accounts
Next Steps
Step 1
Please fill in this questionnaire
Step 2
Schedule a consultation with
one of our CPAs to receive
a final quote and a checklist of
the required data.
Step 3
Upload requested data
onto cloud folder shared
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