Services

Services

What we do

Accounting, IT, and Tax Services For Businesses

Accounting Catch Up & Clean Up

If your books are behind or your financial statements don’t make sense to you, we’ll recommend a cleanup before anything else. Our priority during cleanup is up-to-date, reconciled, and accurate books. Almost every client starts with a cleanup of at least a few hours. We also find that cleanups help us learn your books quickly and they’re a fantastic way for us to get to know your business!

IT Evaluation & Implementation

We’ll do a thorough assessment of your hardware, software, and system controls. Aside from identifying risks, our primary goal is to determine if your IT system needs to be updated or restructured to minimize tech chokepoints.

Bookkeeping

The foundation of any accounting system! Tired of missing bills, tracking sales, or trying to figure out how much available cash you have? Bookkeeping is the first service most businesses need, and Prax takes care of it all. Each week we record sales and A/R, expenses and A/P, reconcile your accounts, process payroll, maintain source doc records, obsessively track your cash position, and touch base with each client at least weekly to resolve action items or questions. Every client is assigned a bookkeeper.

Controller/CFO

C/Cs obsess over the data and projections. They oversee the bookkeeper’s entries with the goal of closed and accurate financial statements every month. They’ll allocate overhead, track industry benchmarks, run in-depth analytics, and partner closely with each client to understand the numbers and plan for the future. Every client is assigned a C/C, who also functions as the client’s account manager.

Taxes

Are you certain nothing has been overlooked in your tax returns? Did you know mistakes and oversights on tax returns are incredibly common? Business taxes are our specialty! We love the challenge of piecing together the puzzle of each client’s best possible tax scenario. This is a highly complex process that considers both business and personal implications. As tax advisors for sole proprietors, LLCs, partnerships, S-corporations, and C-corporations in a variety of industries, we’ll look under every stone to capture the maximum deductions and exemptions you can claim while considering the long-term impact of these decisions.

Accounting, IT, and Tax Services for Startups and Individuals

Training

For clients who can and want to handle their own books, Prax can train you! We offer customized 1-2 hour screenshare trainings for all bookkeeping tasks you’ll need to maintain your books. In addition to training, Prax will set up the books and payroll, offer any relevant wholesale discounts, and assist with software integration.

Quarterly reviews

Even when Prax trains, there are always mistakes, omissions, and questions that our client can’t handle on their own. We strongly encourage clients to meet with us every 3 months to go over their work, correct any errors, and re-train where necessary. This ensures we aren’t facing a big cleanup come tax season, plus allows Prax to calculate estimated tax payments and advise our clients about upcoming challenges.

Tax returns

As long as we are confident in the condition of the books, Prax will gladly handle all clients’ tax returns. Our tax gurus pride themselves on navigating the highly complex process of finding each client’s best possible tax scenario. If a client’s situation is even marginally complicated, especially as it pertains to business earnings, we strongly advise they have their returns prepared by a qualified and experienced CPA who thoroughly understands their circumstances.

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