Sum.it Business Services, Inc.

We provide a wide range of services to individuals and businesses in a variety of industries. We strive to meet each client’s specific needs in planning for the future and achieving their goals in an ever-changing financial and regulatory environment. Our professional services include:
	Accounting	Bookkeeping
	New Business	Payroll
	Quickbooks	Retirement
	Tax Planning	Tax Preparation







Accounting
Accounting Services General Ledger Maintenance - We can review your general ledger for proper classification and recording of transactions. We can review or perform your bank account reconciliations and provide journal entries to properly record the purchase, depreciation and disposal of fixed assets. Financial Statements If you keep your own records, we can review your financial statements and point out areas of success and areas they may need improvement. Sales Tax Returns We can prepare and file your PA sales tax returns. Year End Services Prepare/Review Employees’ W-2’s and W-3 Transmittal to SSA Prepare/Review 1099’s for all Contract Labor & 1096 for IRS Filing
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Bookkeeping
Our bookkeeping services include the following: Monthly or Quarterly recording of your sales, deposits, checks, credit card and payroll transactions Bank Account Reconciliations Preparation of journal entries to record purchase, depreciation and sale of capital assets. Monthly or quarterly recording of investing, borrowing and financing activities. We will provide you with a detailed general ledger listing all of your transactions on a monthly or quarterly basis. Preparation of monthly or quarterly financial statements.
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New Business
New Business Services We can help you get your new business up an running. Incorporations We can help you choose the appropriate business entity for your new business and help you file the paperwork necessary to become a corporation in Pennsylvania. EIN We will apply online for your Federal identification number for your new business. Sales Tax License We will complete all applications necessary to obtain sales tax certificates for your new business.
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Payroll
Complete Payroll Services Calculate your employees’ gross pay, tax deductions and other deductions such as retirement contributions, insurance deductions and cafeteria plan deductions. Print your payroll checks and deliver them to you. Provide you with a Payroll Journal that gives you individual payroll amounts and payroll totals. Compute your payroll tax liability and provide payment instructions. Preparation of all federal, state and local payroll tax returns. Preparation of W-2’s at the end of the year. If you prefer to write out your own payroll checks but don’t want the hassle of preparing the payroll tax returns, our Assisted Payroll Service may be of interest to you. Assisted Payroll Service We can prepare the following payroll tax returns: Form 941-Federal Quarterly Payroll Tax Report Form 940-Federal Annual Unemployment Tax Report PA 501 Employer’s Deposit of Withholding Tax Report Employer’s Earned Income Tax Returns PA UC Form-PA Unemployment Tax Report Form W-2-Annual Statement of Wages & Taxes Withheld
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Quickbooks
QuickBooks Consulting We are Quickbooks Certified Pro Advisors. QuickBooks Set Up We can set up your company on QuickBooks and train you on how to use QuickBooks in your business. QuickBooks Support Plan If you have any questions or problems with QuickBooks we can provide support over the phone or at your office. QuickBooks Training Seminars We hold QuickBooks training classes. Click here for a listing of our upcoming seminars.
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Retirement
Retirement Planning Retirement Planning is very important to our clients. We will work with you to determine the best retirement vehicle for you individually or for your business. We offer the following retirement products: 401Ks Traditional IRAs Simple IRA Roth IRA SEP’s Retirement Plan Rollovers Insurance Services We can provide you with a free quote on any of the following insurance products: Long Term Care Insurance Life Insurance Disability Fixed Annuities Variable Life/Variable Annuity
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Tax Planning
Tax Planning Maximize year end deductions such as: Timing of recognition of income and deductions to most effective tax year Recognizing losses to balance capital gains before the end of the year Home office use and charitable contributions Establish tax deferred vehicles such as Profit Sharing, Money Purchase, SEP, Simple IRA plans Correct use of tax entities (S-Corp, C-Corp, etc.) Quarterly Estimates- verify adequacy of federal, state and local estimated tax payments to avoid penalties. Strategic Planning Meetings We can analyze your financial statements and develop strategic plans to increase the strengths and maximize the resources of your business. Review Tax Situation & Implementation of Tax Reduction Strategies We review our client’s tax situation and implement tax reduction strategies to help them keep more of the money they have worked so hard to earn.
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Tax Preparation
Tax Preparation Individual Returns-Prepare annual Federal, State and Local income tax returns including Forms 1040, 1040A & 1040EZ Corporations and Small businesses-Forms 1120 and 1120S Payroll-Form 941, Employer’s Quarterly Federal Tax Return, Form 940 Federal Unemployment Report as well as all State and Local Payroll tax returns. Partnership and Limited Liability Corporations (LLC’s)-Form 1065 Corporate and Individual Estimated Taxes Many self employed business owners and some types of corporations have to make estimated tax payments throughout the year to the federal and state governments. These estimates are based on your expected profits for the year. We can help you determine your estimated tax liability and provide you with payment vouchers for you to send in your estimated tax payments
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