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Genesis Accounting and Tax Services
2431 Aloma Avenue Ste., 148 Winter Park FL 32792
Tel - 407-316-7002  407-512-1300     949-636-2095
Finance is the live wire in any business. Making your
financial stronger safer is our business

GATS has represented both individual and corporate clients to provide our
professional accounting and tax services. We have assisted businesses to
building better businesses and achieve grater targets and  larger profit.   

About Us
    We are committed professionals provide personalized service. We simply do
    not offer only bookkeeping and accounting services but also we offer you
    reports based on your records for you to improve your business from one
    level to another level in systematic way. We will high light the expenses that
    could be controlled and how you could control them effective way to
    increase your profit. Also we will help you to set targets for your business
    for the coming years. We will not only help you set targets but also will
    monitor your performance in achieving the targets constantly . We offer you
    complete package of business development along with financial accounting
    and tax work. We have experience and expertise to offer you professional
    service for your entire satisfaction. If your motive is to develop your
    business to higher levels year by year step by step, you have come to the
    right professionals.

    Once we offered accounting services  for a company which imported
    fabric to their own warehouses.

    They imported fabric and distributed to their own factories and
    factories that under took productions on contracts. When we
    completed the annual accounts, and  analyzed the expenditure, it was
    found that warehouse expenses that they incurred was 30% of total
    expenses. We analyzed the warehouse expenditure separately, and
    found major expenses of warehouse were incurred in clearing the
    fabric from customs. Most expenses were paid to the clearing staff of
    the company. There were many multiple payments daily recorded as
    tips and clearing expenses. When we audited these expenses it was
    found that there are no supporting documents for the expenses.

    Most of expenses at the port was not documented. We received
    permission from the CEO to interweave the fabric clearing staff.
    According to the staff the tips and the expenses incurred for loading
    and unloading can not be documented as no receipts could be
    obtained from the port officers and temporary workers who load and
    unload goods. Since the daily expenses are extremely high, we
    analyzed the expenses further.
    We analyzed the number of shipments and undocumented expenses
    incurred in each and every shipment. We interweave the clearing staff
    again and found that there are two gates that a shipments should pass
    through during a clearing process only three officers were involved in
    paying tips. We manage to come to an agreement with the clearing
    staff and estimated expense for single shipment.  The expenses at the
    customs were reduced by 75%. The company profit went up by 15%.
    We are experience accounting professionals and companies that hire
    us get the benefit of our accounting analytical expertise to improve
    efficiency and functions, minimise wastage and improve profitability in
    an organization.

    There was a certain company came to us for filing tax, with some
    years of back taxes. Company is a small corporation and the company
    accounting was done in Quick Books accounting soft ware. The
    company had been using Quick Books for number of years. Company
    had engaged a tax preparer who prepared tax having a negative equity
    balance in the balance sheet. Since Quick Books software operates
    differently than double entry bookkeeping, fair knowledge of handling
    quick books software is needed to get the best use of Quick Books
    software. There can not be negative equity balance in the Balance
    sheet. A negative equity account balance represents serious errors in
    accenting. This kind of balance sheet not represent correct state of
    any business. We attempted to make correction to the quick book
    entries and found there were numerous multiple errors in the past
    number of years. It was not profitable for the company to pay us to
    correct past accounts in Quick Books, it was time consuming. So we
    advised the CEO to start accounts freshly with us for the particular
    year to file tax in time. Accordingly we prepared their accounts in an
    accounting package specially designed for them.

    Since then we are providing them our accounting and tax service. The
    company no longer have a Quick Books accounting staff. They are
    getting clear professional accounting and regular advice from us. Now
    they spent less expenses in maintaining a accounting staff. We hope to
    reintroduce Quick books accounting later under our supervision.

    One of our clients came with six years of back accounting and tax.  
    He was a new business owner and has not filed taxes since he  started
    his business. He has been going to many accountants and tax
    professionals and never filed taxes. Every accountant he has gone, did
    not completed his accounts.
    Every time when tax season about to end, this particular client's were
    instructed to accounts were not completed final accounts for filing
    taxes. He has been filing extensions and postponing his tax filing year
    by year. He spent lot of money as fees to those accountants. He
    changed accountants year by year.  His accounts were never finalized
    for any tax year. Every time he changes the accountant, they tried to
    cover the five years old accounts from the beginning but never
    completed. When he came to us we advised him to provide us with
    the current year accounting information and we prepared the current
    year accounts and file taxes for the current year taxes on a estimated
    income. We did back accounting and taxes before the following tax
    season. We gradually competed the back taxes filing after preparing
    final accounts all five years. He is still one of our valued client. He
    was saved from many penalties and he was avoided of being black

    There were many instances, clients came to us with back taxes and
    incomplete accounts for many years. Some times the accounts done by
    previous accounting professionals not attended to those client's
    accounts properly They were no balancing trial balances. Most of the
    time there were no opening balance sheet. We reconstructed accounts
    for such clients and filed taxes year by year. Some of the clients do
    their accounts in Quick Books accounts and they failed to set up QB
    software correctly. There had been wrong accounting entries and large
    equity balances are used to balance accounts artificially. They pay
    extra taxes for wrong final accounts. We always helped such clients to
    achieve correct accounts and pay correct taxes by filing amendments
    for previous tax years.
    We handle personal taxes as well as business taxes. Most of our
    clients more than satisfy with our tax preparation as they received
    more legitimate tax credits and tax refund more than what other tax
    professionals did before.

    According to our experience, most of individual tax filing was done by
    individuals using the software find in the market, lost their legitimate
    credits. Either the people are lack of knowledge of legitimate tax
    credit and tax benefits or the software available in the market do not
    give proper guidance. Some times you will not find the forms that you
    need to file certain credits and benefits.
    Many occasions some come to us to try our free tax preparation
    option and compare their own tax preparation. It gives us
    opportunities to help them to get their legitimate tax credits and tax
    benefits. There were instances we have worked out better refund and
    benefits for previous years and file amendments to get lost credits  
    and refunds from IRS.

Genesis Accounting and Tax Services Winter Park Location in Crealde Business Center

             2431 Aloma Avenue # 148, Winter Park FL 32792 Tel - 321-444-2334

We are a member ofv National Association of  Accountants
    We are licenced accountants in the city of Winter Park.
2050 W Chapman Avenue, Ste. 198 Orange CA 92868