FAQ2020-08-11T22:09:50+00:00

FREQUENTLY ASKED QUESTIONS

FAQs

FAQs

I started a business so what do I do next to make sure I’m in compliance with Federal, State and Local regulations?2020-07-29T20:47:53+00:00
  • First of all, you have to decide on an entity structure for your business. Those include: Sole-Proprietor, Corporation (Regular or Sub S), Partnership or Limited Liability Company. Each choice has various pros and cons and choosing the right structure can make a big difference in your tax benefits, personal liability and reporting requirements.
  • If you are going to have employees you must apply for a Federal Employers Identification Number (EIN) and submit weekly or monthly payroll tax payments depending on the payroll dollar volume.
  • Apply for a business license with the State of Nevada, city, and county for your type of business.
  • Apply for a state tax identification number for sales tax reporting and state employment tax payments.
  • Request from all businesses and non employee individuals that you pay for goods or services a W-9 form showing their name and federal identification number for Form 1099 reporting.
  • Establish an accounting system to keep records of income and expenses in accordance with IRS and state regulations.
  • File a Declaration of personal property with the Clark County Assessor’s office.
  • The above list covers most of the requirements, but depending on the type of business activities, other items may be needed.
How do I decide if a person is an employee or an independent contractor?2020-07-21T19:03:42+00:00

The IRS has established guidelines to determine the status of individuals providing services to your business. Click here to see the guidelines. If in doubt contact us.

How do I decide on what kind of accounting and tax services I need and what is the cost?2020-07-21T20:08:09+00:00

There are two issues for you to consider: First, what type of information do you need and want from your accounting system and secondly, how much of the accounting work do you want to do. These are the items covered in a free consultation meeting with you to describe the accounting systems available and the information and services they provide along with the required effort and cost needed to maintain them. Then you can decide what is right for your business. As your business develops, you can add or delete services to meet changing situations.

Can I call or e-mail a particular question without incurring a fee?2020-06-17T23:13:31+00:00

Yes, we are always willing to answer a limited number of accounting and tax questions free of charge.

I keep all of my records myself. When is the best time to contact you for tax and accounting services?2020-06-17T23:23:13+00:00

It is always best to meet with us early in the business year so we can determine what tax benefit options are available to you. Also, many tax deductions require detailed records that are best maintained as the expense occurs during the year. We can advise how and what records to keep.

My records are not in good order, can you provide one-time catch-up service?2020-06-17T23:27:31+00:00

Yes, we can look at what you need to catch up and quote a fee before we begin.

Can you file my state forms to incorporate or form an LLC?2020-07-21T20:11:26+00:00

After a free consultation on the right structure for your business. We can file the appropriate forms with the Secretary of State for a quoted fee.

Can you help with QUICKBOOKS®? ​2020-07-21T20:12:38+00:00

Pancy Coffman is a Certified QUICKBOOKS Pro Advisor® and can help you choose the right version for your business. Then we will provide set up, training and on going support.

I need to file prior year returns, can you prepare them? ​2020-06-17T23:34:07+00:00

Yes, we can file any prior year return along with an installment agreement if you owe more tax than you can comfortably pay.

I started a business so what do I do next to make sure I’m in compliance with Federal, State and Local regulations?2020-07-29T20:47:53+00:00
  • First of all, you have to decide on an entity structure for your business. Those include: Sole-Proprietor, Corporation (Regular or Sub S), Partnership or Limited Liability Company. Each choice has various pros and cons and choosing the right structure can make a big difference in your tax benefits, personal liability and reporting requirements.
  • If you are going to have employees you must apply for a Federal Employers Identification Number (EIN) and submit weekly or monthly payroll tax payments depending on the payroll dollar volume.
  • Apply for a business license with the State of Nevada, city, and county for your type of business.
  • Apply for a state tax identification number for sales tax reporting and state employment tax payments.
  • Request from all businesses and non employee individuals that you pay for goods or services a W-9 form showing their name and federal identification number for Form 1099 reporting.
  • Establish an accounting system to keep records of income and expenses in accordance with IRS and state regulations.
  • File a Declaration of personal property with the Clark County Assessor’s office.
  • The above list covers most of the requirements, but depending on the type of business activities, other items may be needed.
How do I decide if a person is an employee or an independent contractor?2020-07-21T19:03:42+00:00

The IRS has established guidelines to determine the status of individuals providing services to your business. Click here to see the guidelines. If in doubt contact us.

How do I decide on what kind of accounting and tax services I need and what is the cost?2020-07-21T20:08:09+00:00

There are two issues for you to consider: First, what type of information do you need and want from your accounting system and secondly, how much of the accounting work do you want to do. These are the items covered in a free consultation meeting with you to describe the accounting systems available and the information and services they provide along with the required effort and cost needed to maintain them. Then you can decide what is right for your business. As your business develops, you can add or delete services to meet changing situations.

Can I call or e-mail a particular question without incurring a fee?2020-06-17T23:13:31+00:00

Yes, we are always willing to answer a limited number of accounting and tax questions free of charge.

I keep all of my records myself. When is the best time to contact you for tax and accounting services?2020-06-17T23:23:13+00:00

It is always best to meet with us early in the business year so we can determine what tax benefit options are available to you. Also, many tax deductions require detailed records that are best maintained as the expense occurs during the year. We can advise how and what records to keep.

My records are not in good order, can you provide one-time catch-up service?2020-06-17T23:27:31+00:00

Yes, we can look at what you need to catch up and quote a fee before we begin.

Can you file my state forms to incorporate or form an LLC?2020-07-21T20:11:26+00:00

After a free consultation on the right structure for your business. We can file the appropriate forms with the Secretary of State for a quoted fee.

Can you help with QUICKBOOKS®? ​2020-07-21T20:12:38+00:00

Pancy Coffman is a Certified QUICKBOOKS Pro Advisor® and can help you choose the right version for your business. Then we will provide set up, training and on going support.

I need to file prior year returns, can you prepare them? ​2020-06-17T23:34:07+00:00

Yes, we can file any prior year return along with an installment agreement if you owe more tax than you can comfortably pay.

What Our Clients Are Saying…

The service and help that your firm has given to me and my business is outstanding. I enjoy not only Pancy and Wendy but all of their staff and their excellent work. I would definitely recommend going to see Pancy, Wendy, and their amazing team should you need an excellent accounting firm for your business and personal finances. This company has by far the best service I have received.

Steve Owens, Midas Franchise Owner

I have been working with my CPA, Pancy Coffman, for the last 10 years. My experience has been nothing but AWESOME!! Pancy and her team are very responsible, prompt, and highly dependable. I have a busy professional life and unlike my previous experiences, one phone call or email was sufficient for them to prepare my financials and taxes. I highly recommend Pancy.

Dr. Ajay Nellutla, MD

Pancy Coffman and Associates are some of the most professional, quick and intelligent professionals I’ve ever worked with. I’ve hired Pancy’s team to complete my taxes for more than 5 consecutive years. She is always quick to reply and answers all of my questions. I’ve trusted her since the beginning and I feel especially thankful this year that Pancy went the extra mile to make sure I received the maximum federal refund. Pancy continuously educates me and helps me find new ways to maximize efficiencies with my business accounting. Her passion shines through her work. Hire Pancy for your taxes. She definitely knows her stuff!

Kellyann Roberts, KRKR Media

I cannot recommend another office for your accounting needs. I am always very satisfied with the work they do. They are the best!

Joe Milano, Milano's Fashion

The best thing that happened to Maxi Media was when we decided to hire Pancy Coffman to be our CPA. Words cannot describe how happy we are with the wonderful staff! They are extremely knowledgeable and professional. We get help even when the office is closed. This office is by far nicer than we expected from our referral. They will be our CPA forever!

Maxi Media, Mobile Advertising

Every time I request something for our personal taxes or business I’m truly blown away with the personalized service. The team responds so promptly. It’s very impressive and honestly I couldn’t imagine operating a business without you as our CPA company.

Brooke Neubauer, Neubauer Mental Health Services

Pancy Coffman and her company have been working with my family and my business for several years now.
I have worked with many CPAs before. But, they are the BEST! Pancy has a great personality and has vast knowledge about tax related issues.
When it comes to my business, I rely 100% on Pancy and her girls, especially for tax and bookkeeping. I have bothered her many times about several other financial issues to get advice from her! And, she is never tired of answering my questions!  Thank you guys!

Dr. Tanvir Hossain

I have worked with Pancy Coffman CPA for many years. I have been pleased with the level of service they provide. They always take the time to answer my questions and give me great tax advice. I would recommend Pancy Coffman CPA to anyone that could use some tax guidance and or bookkeeping. The whole team is wonderful to work with and always there to help. Thank you!

Bryan G., Urban Settlements, Real Estate Agency

I have been using Pancy Coffman CPA for almost 10 years now. They are the BEST in town and helped me save a lot of money thanks to their extensive knowledge. I truly love the team working there!

Matt Templar, Furry Land Mobile Grooming

Pancy Coffman and her CPA firm have been doing the taxes of our business and our home for many years. They provide excellent and professional services. They help us whenever we ask, whenever we have questions and issues. We are very happy with them and we are looking forward to having the great customer/CPA relationship for many of the future years.

Steve & Lori T., Firehouse Subs, Franchise Owner

Pancy and Elissa have been my accountants since I opened my business in 2012. I can ALWAYS count on them to help me with my books, payroll, and taxes. I appreciate that they care about my business succeeding and do everything they can to help me make it happen.

Mr. Mamas, Breakfast and Lunch

How Can We Help?

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    Visit Our Office at 9179 W. Flamingo Rd. Ste 110, Las Vegas, NV 89147

    Get Directions Here or call us 702-534-7878

    Directions

    • We are located off the 215 and Flamingo.
      A few blocks east from the Ice Skating Center.
    • When you get off the 215 and Flamingo, head East.
      On the right-hand side is the Ice Skating Center.
    • After the Ice Skating Center is a Yellow Building.
    • After the Yellow Building are Orange Buildings called the Flamingo Trails Professional Plaza.
    • Turn into the Plaza, keep right and you will see the Firm name on the Third Building.
    • Parking is available by our door.
    Pancy Coffman, CPA