Individual Services

income taxYour personal finances depend on accurate, insightful financial information. We lend our expert support to meet your accounting needs so that you can focus your time and energy on living your daily life. As your CPA, we provide:

Personal Tax Services

Most individuals speak to a CPA once a year, and that’s between January 1 and April 15 to file their tax returns. While we offer a variety of services, this is the most common service individuals come to L. A. Salo, CPA, Ltd. to complete. We can prepare your federal income tax return as well as help you plan and prepare for next year’s return. Learn More…

Estate Planning

safeThere’s no doubt about it, Federal Estate Taxes are expensive. Estate taxes start at 37% and can quickly increase to 55% if not planned for properly. With proper planning your estate taxes can be substantially reduced, and in some case even eliminated. Taking a little time now can mean a substantial savings in your estate for the future.

Living Trusts and Probates

A common alternative to a will, your living trust can be set up in a variety of ways to help protect your assets now and in the future. This proven strategy will help keep you in control of your assets while you are alive, during any event you become incapacitated, and even after a death.


form and emailWe’ll work hand-in-hand with you to create and maintain a chart of accounts to capture all of your financial transactions, provide the right information to manage your money, and prepare federal, state, and local tax returns. Whether you prefer to review your books on a monthly, quarterly or annual period, we will help identify and resolve any discrepancies (e.g., double billings, unrecorded payments) to ensure that you have a complete and accurate picture of your complete financial position.

Bank Reconciliations

While a clean set of “books” is a key objective for every accountant, it is also important to match the accounting records with monthly bank statements. Our bank reconciliation services ensure that every deposit and withdrawal matches with entries in your books. This assessment enables us to identify lost deposits, lost checks, unauthorized transactions, and inappropriate bank fees. It triggers investigation into any fraudulent activity (identity theft, forgery, embezzlement, etc.) and expedites restitution. It will also give you more clarity as to your cash position for addressing planned investments.

IRS Assistance

taxesAfter completing your annual tax return the next most common reason individuals seek assistance from CPAs is after they have been served a notice by the IRS. If you are involved in an audit, delinquent return, paying penalties or need a CPA professional to help negotiate a payment on your behalf, please don’t hesitate to reach out to us immediately. The more time we have to work with you, the greater your benefit will likely be. Learn More…

Personal Financial Statement Preparation

folderWe can prepare a complete set of financial statements to help you assess the health of your finances. This package will include:

  • A Balance Sheet that gives you a snapshot of your overall financial condition at month, quarter and/or year end
  • A Comparison of Actual Performance to Budget so you can identify the trouble spots in your revenue stream or spending patterns
  • A Cash Flow Statement that shows how changes in your Balance Sheet and Income Statement affect your available cash
  • Estimated tax liabilities

Our analysis of your financial position will help you frame strategic initiatives (e.g., buying a new home or income property) as well as tactical plans (e.g., accounts payable management). Professionally prepared financial statements are also an essential resource when dealing with creditors (e.g., vendors, banks) and investors.

Accounting Systems Set Up

return moneyAlthough there are a lot of accounting systems  that are very easy to use, it takes a bit of expertise and foresight to design the system for maximum benefit and effective control. Moreover, a new system set-up or conversion represents the opportunity to address long-standing gaps, inefficiencies, and annoyances.

Although we tailor each engagement to each client’s needs, here is a list of accounting system set up services that we offer:

  • Assess accounting and reporting requirements
  • Design and implement the charts of accounts, loading balances as of the start date
  • Record outstanding accounts receivables and payables
  • Enter ending statement bank balances and outstanding checks, deposits
  • Enter transactions since the start date
  • Compare trial balances from the old and new systems to ensure that all data was transferred correctly

Individual Consultation

When you use our professional accounting services, you get more than just a collection of records and reports. You get the benefit of our skills, experience, and expertise. We are happy to invest the time to make sure that you understand and utilize all of the information we provide. Call us whenever you have a question or concern.

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