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Our
firm provides a variety of tax and accounting services including:
Income
Tax Preparation
Income tax return preparation is one of our core competencies. Our
firm offers professional preparation of all Federal and State Income
Tax returns. Our software provides us with nearly all Federal, Kansas,
and Out of State income tax forms. We offer electronic filing of
individual Income Tax Returns, and our offices are staffed year
round to answer your questions.
Audit
& Accounting
Audits are the backbone of traditional CPA service. An audit
is the highest level of assurance that a CPA can place on a
financial statement. In an audit, we place an opinion that the financial
statements present fairly, in all material respects, the financial
position of your company as of a point in time. Our firm has
a long history of providing this time honored service.
We understand that you want more than just an opinion on your
financial statements. You have questions. You have needs. You
have problems. You want timely service. You want your phone calls
returned. You want someone who is willing to provide counsel.
You want someone who offers suggestions for improvements. Simply
put, you want someone who is interested in you and your business
or organization. --We are interested.
In addition to service you want quality. We are professional
in both our work product and how we go about doing our work. As
assurance of this fact, we engage another CPA firm to perform
a "Firm on Firm" quality review every three years. This
quality review gives assurance that we are providing service in
a professional and technically competent manner.
Review
A review is similar in nature to an audit, however a review is
not as in-depth as an audit. A review is a process of performing
inquiry and analytical procedures to a company's accounts in order
to provide a reasonable basis for expressing limited assurance
that the financial statements are free of any material misstatements.
A review also provides limited assurance that the financial statements
are presented in conformity with Generally Accepted Accounting
Principles or an Other Comprehensive Basis of Accounting if applicable.
Compilation
When compared to an Audit or Review, a compilation is the lowest
level of assurance. In a compilation, our firm places no opinion
on the accuracy of the financial statement. In other words, we
are not doing an audit. While this is true, compilations provide
a highly valuable service to businesses. A compilation places
in the form of a financial statement, information which is the
representation of management. Compilation reports are frequently
provided to business owners on an interim and annual basis to
track business performance. Frequently, Bankers, Insurance Agents,
and Attorneys can use Compiled financial statements in lieu of
Audited financial statements to meet their needs.
Bookkeeping
Bookkeeping assistance often includes services such as:
Keying Checks to create a General Ledger
Bank Reconciliations
After the Fact Payroll Tax reporting
Sales and Excise Tax preparation
Our firm provides bookkeeping services for numerous small businesses
in the Wichita and surrounding areas. Once again, we tailor our
service to meet client needs, so we can provide as much or as
little service as you desire.
Bookkeeping can be an incredibly valuable service to a small business.
How much would you pay an employee to prepare financial statements,
payroll tax reports, sales tax reports and answer financial questions?
Morrow & Company LLC can often provide these same services
for much less than the annual salary of an internal bookkeeper.
Maybe you want to do the recordkeeping by yourself. Often times,
business owners are too optimistic about the amount of time they
have to dedicate to bookkeeping. The paperwork can be a very time
consuming part of running a business. More than likely, most of
your day is occupied with taking care of customers, ordering the
products you sell, managing employees, and handling the every
day emergencies that always seem to pop up.
Sometimes it is better to "Do what you do best, and Hire
the rest." When you hire Morrow & Company LLC, you can
rest assured that your financial information is in the hands of
capable and caring professionals. This allows you to spend your
time where it is most valuable, managing your business.
Payroll
Processing
Payroll and payroll taxes can be time consuming,
tedious, frustrating, and sometimes difficult. We can help. We
routinely process payrolls for clients.
This service includes:
Printing employee payroll checks for your signature, Payroll register,
journal and other employer reports, Preparing payroll tax deposits,
Preparing quarterly payroll tax returns, Preparing annual W-2's
for employees
We are prepared to handle Sec. 125 Cafeteria Plans, 401(k) Plans,
Simple Plans, Garnishments, and tipped employees. When we prepare
your payroll, we make it easy. You can fax, call, or e-mail your
time and pay info to us. After that, all you have to do is review
your checks and reports and sign the checks. We take pride in
making the process simple.
As many small business owners unfortunately learn, mistakes in
payroll taxes can lead to expensive penalties. It pays to have
experience on your side to help avoid these costly mistakes. In
addition, having this information in our office enables us to
assist you in the event of a payroll tax or insurance audit.
Accounting Software Support
We are familiar with various small business accounting software,
including QuickBooks, Quicken, and Peachtree. We can help with
everything from software selection to installation, to continuing
support.
IRS and State
Tax Audit Representation
Our firm has experience in representing taxpayers
during audits of Income Tax Returns, Sales Tax Returns, and Payroll
Tax Returns. We understand how your return was prepared, and we
understand the tax laws. These services are not included in your
regular tax preparation bill, but we stand ready to assist you
if you so desire.
Budgeting
and Projections
Our firm offers expert cash flow and budgeting services that can
help you apply for a loan, plan for profitability, or analyze
the potential impact of a transaction. Many of our clients who
have used these services have found that the preparation of a
comprehensive budget can be a self fulfilling prophecy.
Specific Forms
and Processing
Annual Returns
1040 & K-40 Individual Income Tax Returns
1041 & K-41 Estate & Trust Income Tax Returns
1065 & K-65 LLC and Partnership Tax Returns
1120S & K-120S Small Business Corporation Tax Returns
1120 & K-120 Corporate Tax Returns
990-C Cooperative Income Tax Returns
990 Non Profit Tax Returns
5500 Employee Benefit Plan Returns
LM-2 Labor Union Reports
Form AR & LC Kansas Annual Reports
Out of State returns
Payroll Tax and Information Returns
941 Quarterly Payroll Tax Returns
940 Annual Unemployment Returns
KW-5 Kansas Withholding Returns
KCNS-100 Kansas Unemployment Tax Returns
Forms W-2, W-3, and KW-3
1099 Series Forms and Form 1096
Sales & Excise Tax Returns
Kansas Sales Tax Returns
Kansas Liquor Enforcement Tax Returns
Kansas Dry Cleaning Environmental Tax Returns
Other
Personal Property Tax Returns
Applications For Tax Exemption
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