Audit

Audit and Attest

Our audit and attest services team includes highly trained CPAs with extensive audit experiences. We provide audit and attest services to clients across industries including nonprofits, governmental (cities, school districts, local and state governmental agencies), construction, healthcare, professional services and banking and other financial service organizations. Our other attest services include examinations, reviews, agreed-upon procedures and compilation services. We also provide other special purpose reporting services to non-profit organizations, governmental agencies and private corporations.

Community CPA is specialized in providing examination services to historic property developers for the issuance of State and Federal historic preservation tax credit attestations. We have developed a seamless approach to helping clients who are engaged in rehabilitating historic properties to comply with the federal and states requirements and to provide a CPA report on examination of Qualified Rehabilitation Expenditures, as required by the Economic Development Authority and the State Historic Preservation Office for State and Federal tax credits. We also help our clients to develop an accounting and tracking system to maintain financial records in accordance with the requirements of the historic preservation tax credit program.

Through our services, we provide advice on unique compliance and regulatory requirements that are critical to our clients’ overall mission. We provide timely advice and assist our clients in making operational and strategic management decisions. Our auditors are experienced and we deploy sophisticated audit tools that enhance the audit efficiency. The extensive audit knowledge and experience together with enhanced audit tools provide Community CPA with a clear competitive edge evident in our very competitive audit fees in the market place.

Our audit practice is compliant with all regulatory requirements in the profession. Please click the following link to access our most recent peer review report.

Tax

IRS Audit Representation Services

Whether an audit is for personal or business taxes, you can trust us to provide knowledgeable and experienced assistance to help resolve your issues. We are authorized to represent both you and your business in dealings with State and Federal government agencies for your convenience so you will not need to deal directly with their auditors.

Tax Audits

There is nothing more stressful than getting an audit letter from the IRS, or having the IRS file a lien on you because of the overdue tax liabilities. Community CPA & Associates, Inc. is your best choice for handling, negotiating or resolving any dispute with the IRS.

We will represent you with honor, integrity and diligence because:

1. We have more than 15 years experience working with the IRS and have successfully resolved numerous tax cases. Many IRS auditors know Community CPA & Associates, Inc., and they respect the quality of the work we do for all our clients.
2. We respect the IRS auditors and have good professional working relationships with them. Some of them have even retired from the IRS, but still stay in contact with us.
3. We have been around long enough to be relied upon. You can leave your case with us and we will work on it until it is resolved.
4. We work very hard for taxpayer's rights. You can be assured that we put in time and energy to make sure every penny of legitimate deductions is included.
5. We are available and accessible to you because our office is open 6 days a week.

Click on the links below to see some of the IRS No Change Letters and Court Case we have handled.

• Tax Court Rules in favor of our clients
• IRS issued our clients No Change Letter

Tax Planning, Re-Structuring, and Tax Preparation

Reevaluating your tax structure is a smart thing to do because proper tax planning and reorganizing your business entity can help save cash that can be used to expand your business. We help you choose and form suitable tax entities and obtain all required licenses and permits to run your particular trade or business.

Tax planning happens at Community CPA & Associates, Inc. annually around the month of November. If you have done tax planning with Ying in the past, then you understand how complex issues can be made simple and how tax dues can be turned into cash savings.

A good tax strategist would not solely dwell on business expense deductions. For example, if a business wants to deduct Starbucks coffee as a business expense, then the business owner has to prove that the coffee was intended for a meeting with a client and further explain how the $3.85 was paid on behalf of the client. This is hardly worth your time and energy. At Community CPA, we believe in saving taxes by thousands by finding ways to reduce your taxable income by tens of thousands. As a firm, we possess the key to your success through having the knowledge of tax structures and tax planning and hence, save you a lot more than deducting Starbucks coffees.

Tax audit representation is a piece which separates Community CPA with the rest of the accounting firms. We do not settle with the IRS auditor if it deemed to be unreasonable and ultimately negatively affect our client. We have taken the cases through all levels up to the Appeals and to the Tax Court to claim the win for the taxpayer.

Many CPA firms shy away from representing clients in front of IRS. It is time consuming and also unpredictable. It depends on which auditor or auditor manager you are working with and your future can be different as night and day. At Community CPA, we fully understand the rights of the taxpayer. Our goal is to represent you fairly and fully in front of IRS. Even if you ended up paying taxes to IRS, we want to make sure that you truly made it and you truly deserve to pay additional taxes. We have often found that you should not be paying if you were working with hardworking POAs. We have the utmost confidence in the big machine of IRS and we trust that if you were charged unfairly by the auditor, we will find the justice for you no matter the cost.

We receive No Change Letters from IRS all the time for the work we do for our clients. To find out our skills, experiences, work attitude and our past successful cases, then please give us a call and we will provide you with references that are relevant to you. Once you see how others not only survived, but thrived, you will be at ease to live your life while working with IRS on audit.

At Community CPA, we also work with auditors from the State government. Same principles apply to our practice. You can trust us to represent you whenever your tax money is involved.

The process of tax planning, audit representation, tax re-structuring, and tax preparation at Community CPA is always easy to implement and simple to understand. You will never worry about "not getting it".

Tax Treaty and Foreign Assets Reporting

We are specialists with international tax needs, including:

• NAFTA convention between Canada, Mexico and the US
• Residency status determination for income tax purpose
• Immigrant tax planning and tax resolution
• Tax withholding on nonresidents
• Foreign tax credits
• Canadian tax and US tax filings, Visa limitations
• Canadian T1 and US 1040NR tax filings

We keep up with the regulatory changes related to foreign bank account and foreign assets reporting, and we work with clients to resolve issues and meet the reporting requirements. We can help you withstand the changes in the business world that are created by evolving regulations.

Foreign Tax

Foreign tax issues can be confusing, frustrating, overwhelming and intimidating. At Community CPA & Associates, Inc., we specialize in dealing with foreign tax issues. You can count on our extensive knowledge and experience to help solve your problem.

As an individual, you can encounter these issues when you are not a US citizen, but they can also crop up if you are a US citizen and have foreign investments and bank savings. As a business, you can encounter foreign tax issues when hiring workers in the United States with Visas, or when you need to send employees out of the country to work for a period of time.

To give you an idea of the types of other foreign tax assistance we offer, we've listed the questions we are frequently asked:

• How to report the foreign assets on Form 8938?
• I am in the United States only part of the year. Do I file 1040NR or 1040?
• I am a dual-status alien. What do I do about my taxes?
• I am an H1 Visa holder - I would like to start a business. How?
• My wife has an ITIN. If I include her on my return, I would lose all of my refund. Why?
• Can I have a business under an ITIN?
• I want to buy a land in Iowa but I am not a U.S. citizen. Is there an issue?
• I have rental property in China, but live in the U.S. for 3 months per year and live in Canada 9 months per year. Where do I need to file taxes, and how do I separate my income?
• My company sent me to China this fall. What is going to happen to my tax return?
• I have an excellent employee. But he cannot work here anymore unless my business sponsors him for an H1B Visa. Can you tell me whether my company is qualified to sponsor him? If so, what is the process to make this happen?
• If I am an F-1 or J-1 Student Visa holder, what do I do with my tax returns? What are the tax treaties that apply to my country?
• I have a bank account in Germany that I hold Euros in. Do I need to file with the IRS to tell them how much I have?
• How do I convert my foreign currency to report it on my US tax return?
• What forms do I need to file if I hold stocks in a company based in France?

If you have similar questions, you will surely find your answers with us. You can email us your questions, and depending on the complexity of your situation, we can often give you the answers you need without charge. If your situation is a bit more complex, you can set up an appointment and we will be delighted to work with you. We are committed to helping you understand and resolve these issues.

Accounting & Payroll

24/7 Payroll, Vendor Payments and Financial Information

Our online portal is the future of business accounting and payroll management. You are able to submit and access payroll information 24/7 by logging onto our secure, private portal. Paychecks can either be directly deposited into employee's bank accounts, or as the business owner, you can choose to print checks at your office. Our online portal also allows you to make vendor payments 24/7 or view financial statements from any location with internet access.

Business Consultation

We provide business IT solutions that give you the freedom to manage your business remotely.

You can monitor your cashier’s activities from your iPhone and research an event that was recorded online through our online camera system. In addition to providing 24/7 payroll and vendor payment access, we also set up POS and inventory system designed specifically for your needs.

Community CPA is globally oriented; hence immigration is an intricate part of the business. Over the years, the firm has partnered with immigration attorneys on many successful H-1 filings and is very knowledgeable of USCIS’ rules on H-1B “general contractors”. We are also familiar with the process of the immigration filings such as: L-1, EB2 & 5, citizenship and green card.

In addition, Community CPA is set apart by its vast array of services we provide such as:

1. Corporate Bi-annual Renew
2. Corporation Foreign Status Application/Determination
3. ITIN Application
4. Business DBA Name Registration/ Name Change
5. Reinstatement of Corporation Status
6. Business Plan
7. Business Valuation
8. SBA Loan Application
9. Certificate of Existence
10. Food License Application and Renewal
11. Liquor/Beer License Applicati2on and Renewal
12. Food Stamp Application
13. Food Stamp Investigation
14. WIC (Women, Infants and Children) Application
15. Insurance Audit Representation
16. Cigarette License Application
17. Lottery Application
18. Vendor Dispute & Relation
19. Contract License Application
20. Nail Salon Application
21. Nonprofit Application

Business Loans and Business Plans

Are you thinking about starting a business? Are you wondering what your first steps should be? Community CPA & Associates, Inc. can help. We understand the underwriting process within each bank. Our team will take you through the "Three Steps to Run a Successful Business" plan, and provide you with the knowledge and information you need for institutional loan applications and jumpstarting your business.

Business IT Solutions

We provide business IT solutions that give you the freedom to manage your business remotely. You can monitor cashier activities on your iPhone, or you can research an event that was recorded online through our no monthly fee Internet-based camera system. In addition to providing 24/7 payroll and vendor payment access, we can also set up a POS and inventory system designed specifically for your needs. We guarantee you will be pleased with our reasonable fees for comprehensive, powerful and flexible total business IT solutions that offers convenience, freedom, and peace of mind.