Seung Hye Seo, Trusted CPA in Southern CA.

We provide a wide range of accounting services including tax return, bookkeeping, Freight Stream (FS) and financial planning services for business owners, executives, and independent professionals. We currently maintain offices in Los Angeles and Irvine.

Free initial consultation

We work hard to earn and maintain our clients’ trust and confidence with our technical experience, advanced training, and financial expertise. Our success has been built upon maintaining strong relationships with our clients, which means that we actually care about clients’ interest and financial stability. We have years of precious experience assisting clients with their accounting needs. We welcome any questions or comments you may have. Feel free to contact us at any time.

“Service You Can Rely On! Counsel You Can Trust!”  

Seung Hye Seo, Trusted CPA in Southern

CA.

We provide a wide range of accounting services including tax return, bookkeeping, Freight Stream (FS) and financial planning services for business owners, executives, and independent professionals. We currently maintain offices in Los Angeles and Irvine.

Free initial

consultation

We work hard to earn and maintain our clients’ trust and confidence with our technical experience, advanced training, and financial expertise. Our success has been built upon maintaining strong relationships with our clients, which means that we actually care about clients’ interest and financial stability. We have years of precious experience assisting clients with their accounting needs. We welcome any questions or comments you may have. Feel free to contact us at any time.

“Service You Can Rely On! Counsel You Can Trust!”  

Service

1. Accounting    Providing accurate accounting support to our clients in a timely manner. Our firm provides a full range of cost effective accounting services including the following:   · General Ledger & Financial Statement preparation · Full service bookkeeping (Monthly/Quarterly/Yearly) · Supports for Startups · Financial statement analysis · Full Services Payroll Processing · Financial Analysis, Budgeting and forecasting · Due Diligence and Sponsor Services · International Financial Reporting Standards(IFRS)

Service

1. Accounting    Providing accurate accounting support to our clients in a timely manner. Our firm provides a full range of cost effective accounting services including the following:   · General Ledger & Financial Statement preparation · Full service bookkeeping (Monthly/Quarterly/Yearly) · Supports for Startups · Financial statement analysis · Full Services Payroll Processing · Financial Analysis, Budgeting and forecasting · Due Diligence and Sponsor Services · International Financial Reporting Standards(IFRS)

2. Tax Return Service  Individual Tax Return  Mostly, we provide this service with your supporting documents for filing individual tax return. Moreover, we follow up the cases which are from federal and state government.   Corporate Tax Return  This service is one of the most works that we are providing to our clients, and we provide you with accuracy and efficiency.   3. Tax Audit Individual Tax Audit We have many experiences with federal and state government regarding to deal with individual tax audit. We provide services and worksheets to support your documents, and we represent you to officers of federal and state government with your permission.   Corporate Audit Payroll Audit We provide backup documents to state government, and we represent you to officers of state government directly with your permission.   Other Tax Audit We provide worksheets to support of other tax return, and we represent you to officers of government directly with your permission.   Corporate Tax Audit We prepare packets to support your corporate tax return, and we represent you to officers of federal and state government directly with your permission.   4. Business Consulting Business Plan This service is for five years projection of your company, and it is suitable to support your company to show the ability to apply loans and to show status of your company.   Ratio Report This service is to check your current and future status of your company, and this report is the great tool to plan and project your company efficiently.

Free Diagnosis & Quotation for

Your iLogisys & Freightstream Accounting!

If you want to get diagnosis for usage of your iLogisys & Freightstream accounting, you can follow the steps below: Step1  You need to contact Suntek System to give us access to your iLogisys & Freightstream. Tel: 949-789-0070    Step2  After we evaluate your iLogisys & Freightstream, we will give you options from the following parts. The parts are designed to provide iLogisys & Freightstream service to you effectively.  Step3  We will give the diagnosis and quotation to begin our professional iLogisys & Freightstream service to you, and it’s time to contact us. Tel: 213-380-8389 / Email: jeune1004@gmail.com      iLogisys & Freightstream Service includes general accounting service and the accounting part of iLogisys & Freightstream. Many of our clients use iLogisys & Freightstream for their companies and iLogisys & Freightstream is ideal for doing business with freight forwarding services. We want to encourage you to use iLogisys & Freightstream for your system if you are providing freight forwarding services to your clients. Here are the three parts of our iLogisys & Freightstream Service.   1. Part I This service covers payroll, accounting, beginning balance setup, and basic function of iLogisys & Freightstream 2.0. This service also covers corporate tax return service. This group is appropriated for the clients who use only operating transactions of iLogisys & Freightstream.   2. Part II This Service covers Part I and adjusting entries in advance level for iLogisys & Freightstream 2.0. This group is appropriated for the clients who use operating and accounting transactions of iLogisys & Freightstream fully but not adjusting entries.   3. Part III This Service covers Part I, Part II, and analyzing the clients’ companies with financial and managerial accounting with CPA’s aspects. This group is appropriated for the clients who use operating and accounting transactions of iLogisys & Freightstream fully but not analyzing their companies.

Free Diagnosis &

Quotation for

Your iLogisys &

Freightstream

Accounting!

If you want to get diagnosis for usage of your iLogisys & Freightstream accounting, you can follow the steps below: Step1  You need to contact Suntek System to give us access to your iLogisys & Freightstream. Tel: 949-789-0070    Step2  After we evaluate your iLogisys & Freightstream, we will give you options from the following parts. The parts are designed to provide iLogisys & Freightstream service to you effectively.  Step3  We will give the diagnosis and quotation to begin our professional iLogisys & Freightstream service to you, and it’s time to contact us. Tel: 213-380-8389 / Email: jeune1004@gmail.com      iLogisys & Freightstream Service includes general accounting service and the accounting part of iLogisys & Freightstream. Many of our clients use iLogisys & Freightstream for their companies and iLogisys & Freightstream is ideal for doing business with freight forwarding services. We want to encourage you to use iLogisys & Freightstream for your system if you are providing freight forwarding services to your clients. Here are the three parts of our iLogisys & Freightstream Service.   1. Part I This service covers payroll, accounting, beginning balance setup, and basic function of iLogisys & Freightstream 2.0. This service also covers corporate tax return service. This group is appropriated for the clients who use only operating transactions of iLogisys & Freightstream.   2. Part II This Service covers Part I and adjusting entries in advance level for iLogisys & Freightstream 2.0. This group is appropriated for the clients who use operating and accounting transactions of iLogisys & Freightstream fully but not adjusting entries.   3. Part III This Service covers Part I, Part II, and analyzing the clients’ companies with financial and managerial accounting with CPA’s aspects. This group is appropriated for the clients who use operating and accounting transactions of iLogisys & Freightstream fully but not analyzing their companies.

Useful Information

I. Corporation    1. C-Corp  A corporation is a creation of law. It is governed by the laws of the state of incorporation and of the state or states in which it does business. In recent years it has become the business structure of choice for many small businesses. Corporations are, generally, a more complex form of business operation than either a sole proprietorship or a partnership. They are also subject to far more state regulations regarding both their formation and their operation. There are two basic types of corporation: C Corporation and S Corporations. These prefixes refer to the particular chapter in the U.S. Tax Codes that specify the tax consequences of either type of corporate organization. C Corporation is the only type of business generally taxed as a separate entity. The idea of double taxation has been applied to this type of entity by taxing the corporation on corporate earnings and again when distributed to the shareholders.    2. S-Corp  The S Corporation is a certain type of corporation that is available for specific tax purposes. It is a creation of the IRS. S Corporation status is not relevant to state corporation laws. Its purpose is to allow small corporations to choose to be taxed like a partnership, but to also enjoy many of the benefits of a corporation. It is, in many respects, similar to a limited LLC. A qualifying corporation may choose to be exempt from federal income tax. Upon this election, the company’s income, gains losses, and credits are taxed to its owners at the individual level, whether or not distributions are made.    3. LLC  A Limited Liability Company (LLC) is another type of hybrid business structure. It contains elements of both a traditional partnership and a corporation. Its uniqueness is that it offers the limited personal liability of a corporation and the tax benefits of a partnership. An LLC must be classified as either a partnership or as an association taxable as a corporation. An LLC is an unincorporated organization of one or more members that may transact any lawful business that a corporation, general partnership, limited partnership, or other business entity may conduct. An LLC has powers that are similar to those of a general corporation, but it enjoys the tax benefits normally associated with a partnership or an S Corporation.     II. Tax Audit    Many taxpayers feel that once they receive an audit notice, there is nothing that can be done other than to wait for the audit result. From the date you receive the audit notice, however, many defensive tactics can be used. First, you must prepare for the initial interview; you must identify the problem areas on your tax return and prepare a plan to defend against potential issues that might be raised by IRS agent.  Cash expenses need to be substantiated with receipts or invoices. Loans and gifts from families and relatives, and money brought from overseas all must be documented. Business calendars need to be reviewed and revised to substantiate claimed auto, meal & entertainment and travel deductions. If you own corporations, it is important that the minutes of shareholders and directors meetings be reviewed. Documentation supporting all loans to shareholders must be secured.  Most IRS agents do Bank “Deposit Analysis (BDA)” test during an audit. It consists of adding up all the deposits made into your all business and personal checking and savings accounts, and comparing with your tax return as income.  Another method is “Third Party Contacts” test. Many times, the agent will contact third parties who deal with you, and review all the transactions. “Economic Reality” test is the other method. By this test, the agent tries to match the income you report with the lifestyle you live. Your lifestyle must match the income you reported unless you are able to show you received loans, gifts, or other source of non-taxable income.  After the completion of an audit the agent will provide you with a report detailing the adjustments or changes to your tax liability. In almost case it is better to appeal the case to the next level that is Appeal Division. Although the Appeal division is a part of the IRS, their job is to arrive at a settlement which is fair and impartial. 

Useful Information

I. Corporation    1. C-Corp  A corporation is a creation of law. It is governed by the laws of the state of incorporation and of the state or states in which it does business. In recent years it has become the business structure of choice for many small businesses. Corporations are, generally, a more complex form of business operation than either a sole proprietorship or a partnership. They are also subject to far more state regulations regarding both their formation and their operation. There are two basic types of corporation: C Corporation and S Corporations. These prefixes refer to the particular chapter in the U.S. Tax Codes that specify the tax consequences of either type of corporate organization. C Corporation is the only type of business generally taxed as a separate entity. The idea of double taxation has been applied to this type of entity by taxing the corporation on corporate earnings and again when distributed to the shareholders.    2. S-Corp  The S Corporation is a certain type of corporation that is available for specific tax purposes. It is a creation of the IRS. S Corporation status is not relevant to state corporation laws. Its purpose is to allow small corporations to choose to be taxed like a partnership, but to also enjoy many of the benefits of a corporation. It is, in many respects, similar to a limited LLC. A qualifying corporation may choose to be exempt from federal income tax. Upon this election, the company’s income, gains losses, and credits are taxed to its owners at the individual level, whether or not distributions are made.    3. LLC  A Limited Liability Company (LLC) is another type of hybrid business structure. It contains elements of both a traditional partnership and a corporation. Its uniqueness is that it offers the limited personal liability of a corporation and the tax benefits of a partnership. An LLC must be classified as either a partnership or as an association taxable as a corporation. An LLC is an unincorporated organization of one or more members that may transact any lawful business that a corporation, general partnership, limited partnership, or other business entity may conduct. An LLC has powers that are similar to those of a general corporation, but it enjoys the tax benefits normally associated with a partnership or an S Corporation.     II. Tax Audit    Many taxpayers feel that once they receive an audit notice, there is nothing that can be done other than to wait for the audit result. From the date you receive the audit notice, however, many defensive tactics can be used. First, you must prepare for the initial interview; you must identify the problem areas on your tax return and prepare a plan to defend against potential issues that might be raised by IRS agent.  Cash expenses need to be substantiated with receipts or invoices. Loans and gifts from families and relatives, and money brought from overseas all must be documented. Business calendars need to be reviewed and revised to substantiate claimed auto, meal & entertainment and travel deductions. If you own corporations, it is important that the minutes of shareholders and directors meetings be reviewed. Documentation supporting all loans to shareholders must be secured.  Most IRS agents do Bank “Deposit Analysis (BDA)” test during an audit. It consists of adding up all the deposits made into your all business and personal checking and savings accounts, and comparing with your tax return as income.  Another method is “Third Party Contacts” test. Many times, the agent will contact third parties who deal with you, and review all the transactions. “Economic Reality” test is the other method. By this test, the agent tries to match the income you report with the lifestyle you live. Your lifestyle must match the income you reported unless you are able to show you received loans, gifts, or other source of non-taxable income.  After the completion of an audit the agent will provide you with a report detailing the adjustments or changes to your tax liability. In almost case it is better to appeal the case to the next level that is Appeal Division. Although the Appeal division is a part of the IRS, their job is to arrive at a settlement which is fair and impartial. 

We’re hiring

                 

We’re hiring

                 

Contact Us

SEUNG HYE SEO, CPA   SARAH@SEONCOMPANY.COM V.P. EUN@SEONCOMPANY.COM MANAGER  DEPT107@SEONCOMPANY.COM LA Office - See Map 3450 Wilshire Blvd. Suite 302 Los Angeles, CA 90010 Tel:      213.380.8389 Fax:     213.380.2847 Cell:     213.272.4988 Irvine Office - See Map 18101 Von Karman Ave. Suite 330 Irvine, CA 92612 Tel:      213.344.5148 Fax:     213.380.2847 Cell:     213.272.4988

Contact Us

SEUNG HYE SEO, CPA   SARAH@SEONCOMPANY.COM V.P. EUN@SEONCOMPANY.COM MANAGER  DEPT107@SEONCOMPANY.COM LA Office - See Map 3450 Wilshire Blvd. Suite 302 Los Angeles, CA 90010 Tel:      213.380.8389 Fax:     213.380.2847 Cell:     213.272.4988 Irvine Office - See Map 18101 Von Karman Ave. Suite 330 Irvine, CA 92612 Tel:      213.344.5148 Fax:     213.380.2847 Cell:     213.272.4988