Monthly accounting services are preferred because they provide substantially more value than an annual service.
If an accountant only sees your numbers once a year, it is too late to offer advice that would have helped to make that year more profitable and definitely too late to offer pertinent advices to help lower your companies’ tax liability for a year that is already over with.

An LLC is a company whose shareholders have limited their liability to the value of the shares they hold while a partnership is when two or more people agree to embark on a business venture together with the intention to share profits.

It is never advisable to mix up your business and personal finance because it makes it extremely difficult to track the profitability of your company as well as makes the preparation of your company’s tax report complicated and cumbersome.

CIT is tax imposed on profit of incorporated companies from all sources. It is administered and collected by the Federal Inland Revenue Service (FIRS). The rate of CIT is 30% of a companies’ total profit less of all expenses for the period which a company reasonably incurred in generating all taxable profit. CIT is regulated by the Companies Income Tax Act (CITA), Cap. C21, LFN 2004) as amended).

On the other hand, Personal Income Tax (PIT) is imposed on the income of individuals (employees), sole traders, partnership assessment holders, estates, corporate sole or body of individuals, communities, trustees, families or executors of any settlement as the case may be. It is regulated by the Personal Income Tax Act, Cap. P8, LFN 2004 (as amended). It is administered and collected by either the FIRS or the various State Boards of Internal Revenue.

Our accounting process involves receiving our client’s source documents and records, compilation and preparation of accounts, reconciliation of accounts, audit and investigation of accounts.
After a comprehensive and detailed execution of the above processes, we provide our clients with the profit and loss statement, balance sheet and general ledger in digital and/or hard copies.

This is a tax charged on the sale of specified goods and services at the rate of 7.5%. It is also referred to as a consumption tax and it is mostly borne by the final consumer. The FIRS is vested with the power of administration and management of VAT in Nigeria. It is regulated by the VAT Act and the VAT (Amended) Act 2007.

This is an advance tax payment deduction made on any income or disbursement due to a taxable person or a taxable corporation, for onward remittance to the relevant government authority. This tax when deducted from source is subsequently remitted to the relevant tax authorities. WHT in Nigeria varies and ranges from 2.5 to 10% for companies and 5 to 10% for individuals depending on the nature of the transaction.

Section 78 of the Companies' Income Tax Act (as amended) provides that where a company makes a payment to another company or to another individual, either as interest (with interbank deposit and royalty included), rent, dividend, etc. such a company shall at the time of making the payment deduct an advance tax of 10% of the gross amount that is paid and remit such deducted and withheld tax to the FIRS forthwith.

A financial audit is an objective examination and evaluation of the financial statements of an organization to make sure that the financial records are a fair and accurate representation of the transactions they claim to represent. There are three main types of audits: external audits, internal audits, and Internal Revenue Service (IRS) audits.

External audits are commonly performed by Certified Public Accounting (CPA) firms and result in an auditor's opinion which is included in the audit report. NOTE: An unqualified, or clean, audit opinion means that the auditor has not identified any material misstatement as a result of his or her review of the financial statements. External audits can include a review of both financial statements and a company's internal controls.

Internal audits serve as a managerial tool to make improvements to processes and internal controls. Internal auditors are employed by the company or organization for whom they are performing an audit, and the resulting audit report is given directly to management and the board of directors. Consultant auditors, while not employed internally, use the standards of the company they are auditing as opposed to a separate set of standards. These types of auditors are used when an organization doesn’t have the in-house resources to audit certain parts of their own operations.

The Internal Revenue Service (IRS) also routinely performs audits to verify the accuracy of a taxpayer’s return and specific transactions. When the IRS audits a person or company, it usually carries a negative connotation and is seen as evidence of some type of wrongdoing by the taxpayer. However, being selected for an audit is not necessarily indicative of any wrongdoing.
IRS audit selection is usually made by random statistical formulas that analyse a taxpayer's return and compare it to similar returns. A taxpayer may also be selected for an audit if they have any dealings with another person or company who was found to have tax errors on their audit.

There are three possible IRS audit outcomes available: no change to the tax return, a change that is accepted by the taxpayer, or a change that the taxpayer disagrees with. If the change is accepted, the taxpayer may owe additional taxes or penalties. If the taxpayer disagrees, there is a process to follow that may include mediation or an appeal

You need one to help your company solve issues, create value, maximise growth and improve business performance. If you choose us, we will utilize our business skills to provide objective advice and expertise, and help your company develop specialist skills as well as strategies that might be lacking. We will also be focusing on areas such as feasibility studies, staff audit, design and installation of efficient accounting systems (manual and computerized) as well as other pertinent business support services.

In other for such project to be successful, the following steps are advised;

- A careful and well taught out definition of the project and the challenges that project is attempting to solve.
- Development of a comprehensive outline on the methodologies that will be employed in the investigation of the project.
- In depth research and analysis of pertinent data as regards all areas of the problems the project is attempting to resolve.
- Numerical and analytic examination of the results of the collated data.
- Provision of ways the challenges can be tackled to enable client achieve a sustainable and efficient solution.
- Adequate execution of the recommendations provided via the analysis carried out.