Our Services
Comprehensive Accounting & Tax Solutions for Small Businesses
At NJ Sehgal & Associates, we provide practical, reliable, and results-driven accounting and tax services tailored to small businesses. With over 15 years of experience, we go beyond basic compliance — helping you reduce taxes, stay organized, and make smarter financial decisions.
Accounting & Bookkeeping Support
Every monthly engagement includes: 1. Categorization of all bank and credit card transactions — accurate, not just plausible 2. Bank, credit card, and loan reconciliations — monthly, with reconciliation reports 3. Accounts receivable and accounts payable tracking — so you know who owes you and what you owe 4. Payroll posting and reconciliation — coordinated with your payroll provider 5. Sales tax tracking by jurisdiction (if applicable) 6. Inventory accounting — for retail and hospitality clients 7. Industry-specific tracking — job costing for construction, prime cost reporting for restaurants, SKU-level margins for retail 8. Monthly financial statements — P&L, balance sheet, and cash flow, delivered by the 15th of the following month 9. Quarterly review meetings — 30 minutes by phone or video, with the CPA, to discuss what the numbers are actually saying 10. QuickBooks Online (or industry-specific software) properly configured and maintained 11. Year-end clean-up and CPA-ready file — ready for tax preparation without rework
Business Tax Preparation & Filing
A typical business tax engagement includes: 1. Federal income tax return — Form 1120, 1120-S, 1065, or Schedule C, depending on entity type 2 State income tax returns — including New Jersey CBT-100, plus any other states where you have nexus 3. Multi-state filings — for businesses with sales, employees, or physical presence in multiple states 4. Owner personal returns (Form 1040) — when business income flows through (S-Corp, partnership, sole prop) 5. Schedule K-1 preparation — for pass-through entities with multiple owners 6. Sales tax annual reconciliation and review 7. Depreciation schedules — including Section 179 and bonus depreciation analysis for equipment-heavy businesses 8. Section 199A QBI deduction analysis — calculated to maximize the deduction within the law 9. Estimated tax payment calculations — quarterly, so you're not surprised in April 10. E-filing of all eligible returns — we are an IRS Authorized e-File Provider 11. IRS and state notice response — included in the engagement for the returns 12. we prepare Year-round access to your CPA — questions during the year are part of the relationship, not a billable extra
Tax Planning & Strategy
Tax planning typically covers: 1. Entity structure analysis — LLC vs. S-Corp vs. C-Corp modeling, with the actual tax impact calculated for your specific situation 2. S-Corporation election analysis — for owners taking $80K+ in profits, the right S-Corp election typically saves $5,000–$15,000 per year 3. Reasonable compensation analysis — calculating the right W-2 salary for S-Corp owners to balance payroll tax savings against IRS challenge risk 4. Retirement plan strategy — SEP-IRA, Solo 401(k), SIMPLE IRA, or defined benefit plan selection based on your income and goals 5. Section 179 and bonus depreciation planning — equipment timing decisions to maximize deductions in the right year 6. Section 199A QBI deduction optimization — for pass-through entities, getting the full 20% deduction requires deliberate planning 7. State tax credit identification — New Jersey-specific credits often missed by out-of-state preparers 8. Industry-specific credits — FICA tip credit for restaurants, R&D credit for qualifying businesses, energy credits, and others 9. Multi-state tax optimization — for businesses operating across state lines 10. Year-end timing decisions — accelerating or deferring income and expenses to land in the right tax year 11. Major transaction planning — business sales, asset purchases, real estate transactions