Our mission is to help our clients untangle tax and finance complexity
We provide reliable personalized service that helps our clients achieve their long-term goals
Individual and Business Tax Preparation and Planning
US Tax Code is 2,600 pages long. Additional instructions and publications that surround tax code are additional 68,000 pages. The complexity of filing even simple tax return leaves many people disoriented.
According to the US General Accounting Office, most taxpayers (77%) are confident that they benefited from using a tax preparer and that as a result they did not pay more in taxes than legally required.
BGB ADVISORS INC offers full range of tax preparation services—federal, state, and local. In most cases we e-file your taxes via electronic link to IRS and all 50 states, which means you get your refund faster.
Whether you work as an employee in a single state or if you have multiple jobs in multiple states with side business activities—we can handle it all. Our process is efficient with clear up-front pricing. We make things transparent and easy to understand.
No matter how your business is organized—C-Corporation, S-Corporation, partnership, or in which state you are located, we are happy to offer preparation of your federal, state and local tax returns. Please also note our tax planning and implementation services—these benefited many business clients tremendously: removed element of surprise at the year end and saved thousands to many.
Non-profit organizations also known as organizations exempt from income tax under section 501(c), 527 or 4947(a)(1) of the Internal Revenue Code. While non-profits typically enjoy exemption from the income tax, their business activity is not exempt. So in addition to form 990, non-profits that carried out business activity may need to file and pay income tax. We are proud to have many great non-profits as our clients and can help you with tax reporting obligations for yours.
If your non-profit is new and does not have exempt status yet, we can help you with forms 1023 or 1024-a necessary to get the exempt status.
If you are an alien—no matter resident or non-resident—and have US source of income, you typically would have an obligation to file a return and pay taxes. Are you a non-US citizen/non-resident and would like to do business in the US? Ask us about obtaining an ITIN (Individual Taxpayer Identification Number) that you will need in order to properly organize your business activity and fulfill your tax obligations.
We Recommend to Start with a Good Plan
Perform Tax Planning
Tax preparation is always after the fact. But have you ever wondered if you could have arranged your affairs better and paid less? We provide tax planning services that show you legal ways of reducing your tax liabilities.
Implement Tax Strategy
We work with you throughout the year to implement the tax reduction strategies we recommended to maximize your after-tax income.
Prepare and File Tax Returns
We are electronic return originator registered with the IRS and thus have capability of filing your federal taxes electronically. Same applies for all 50 states. Our process is efficient and we stay up to date on all new tax developments.
Your Outsourced Accounting and Payroll Department
Rather than spending time on keeping your books and payroll records in order wouldn't it be more efficient to focus on your core business activities? We offer a range of outsourced services for small and medium businesses and non-profits, which allow owners and managers to focus on what they do best—running their companies.
- Accounts Payable
- Accounts Receivable
- Fixed Assets
- Accounts Reconciliation
- Allocations and Accruals
We have particular expertise in non-profit accounting and can help you properly set up fund accounting to ensure that your organization stays compliant with donor and IRS requirements.
Avoid dealing with intricacies of payroll and concentrate on running your business instead. Our payroll offering includes:
- Running payroll and calculating withholdings
- Calculating federal, state and local taxes
- Making tax withholding payments
- Preparing and filing tax forms
Most small and medium businesses cannon justify the cost of having a full-time CFO. However, you can still have the benefit of having access to a finance professional who knows you business case by using our monthly CFO services.
The main benefits of utilizing our cash flow and liquidity planning service is that it prevents nasty surprises of inability to cover payments on time, helps better deploying excess cash or avoiding unnecessary short-term borrowing costs. We will work together with you on a regular basis to identify cash excesses or shortfalls so that you maintain full control of the liquidity of your business.
Our management consulting offering is focused on setting strategic directions, tracking and reporting performance, and finding operational efficiencies in what you do.
- Strategic planning—performed for existing businesses and typically covers three to five years horizon. We focus on distilling sustainable competitive advantage and quantifying your company direction over the mid- to long-term. Strategic plans are used internally to communicate direction of the company to the employees and stakeholders.
- Business planning—performed for new businesses and typically provides short- to medium-term outlook. The main task here is to assess the viability of the new business idea. Business plans are often a requirement to get funding.
Growth of modern business is impossible without automation—good news is that sophisticated systems that were only available to Fortune 500 companies have now become affordable for small and medium enterprises. Depending on your business needs, it could make sense to have complete ERP implementation that covers most of the business processes, or to implement just some of the modules. It could also make sense to develop a custom solution or procure a system that covers just one area: CRM, HRM, etc.
Our approach to system selection and implementation consists of several essential steps:
- Business need assessment and system selection
- Documenting functional requirements
- Building a prototype
- Adding any necessary customization
- Staff training
- Test then launch
- Post-implementation support
What gets measured gets done. If you already tracking performance drivers—we can help you extract value from the data your business already have. If you don't track drivers and performance—we will develop metrics and data capture methods for you.
Finance and accounting teams are traditionally spending bulk of their available work hours on month and year closing, preparing reports, and making budgets. These tasks leave little time to dedicate to process improvements, system implementation and providing advise to the management team. We use lean principles to transform processes within in-house finance and accounting departments so that closing and reporting is done much faster and time is freed up for analysis and advisory—real value-added tasks.
PPP Loan Forgiveness
We helped numerous clients with their PPP loan application packages. Since August 10, 2020 SBA opened forgiveness process and many businesses that received the loans now face the task of preparing another pile of documents. Rules change frequently and we stay up to date. Whether you need just a consultation or full-service package preparation—we are here to help.
Dr. Dmytro Gorbachov
DBA, MBA, CFA, PMP
Over 20 years of senior management experience in both mid-market national companies and large multinational groups including big-4 accounting firms: development of strategies and execution of tactical plans for revenue growth, cost reduction, and improvement to the bottom line. Expert in strategy, corporate finance and accounting.
Over 20 years of experience in US GAAP accounting, auditing, financial statement and tax preparation with big-4 and large national accounting and consulting firms, as well as other US mid-size companies. Expert in tax, payroll and non-profit accounting.
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We serve clients from all 50 states:
majority of our clients are from Philadelphia, New York City and NY State, New Jersey, and Miami, Florida.
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