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Accounting | Advisory | Sales Tax, 1099 filings | Bookkeeping| Incorporations, LLC Filings

Efficient. Accurate. Timely.

Let Williams Accounting handle all of your accounting needs.

Williams Accounting LLC specializes in cloud-based paperless accounting, catering to clients across the country. Services are provided remotely and are securely controlled.

Williams Accounting LLC services small to large businesses in various industries including Cannabis, Rental Real Estate, Independent Contractors, Retail, Wholesale, and Associations. Let Mesheba Williams handle your business from formation to dissolution including tax preparation, 1099 prep, quarterly bookkeeping, budgeting, tax planning and strategies.

We love what we do
About Mesheba Williams

Williams Accounting LLC is a Las Vegas-based accounting, tax, and financial consulting firm that works with clients across the globe to achieve the best solutions for their business.

Mesheba Williams has a Master's Degree in Accounting and Financial Management and also a Master's Degree in Financial Analysis with ten years experience working in the accounting profession. She is a member of the Institute of Management Accountants and the Las Vegas Chamber of Commerce.

My mission is to help streamline my clients’ accounting processes to make them more efficient through my virtual practice. I took the leap of faith and started my own business after many years of public accounting experience.

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What we can do for you
A wide range of services to meet all of your accounting and bookkeeping needs

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    Monthly/Quarterly Bookkeeping

    Bring us your existing books, invoices, and payroll reports and we will get them back on track and keep them up to date so they are ready once tax season rolls around. We use Quickbooks Online (QBO) which is a fantastic tool that gives dual access to clients and accountants. Using QBO, we can link your bank, credit card, Square, Venmo, and PayPal transactions eliminating manual entry. We will reconcile your bank statements monthly, set up a chart of accounts, and generate financial statements reports that provide an overview of your business.

  • Tax Preparation
    Tax Preparation

    We prepare federal, state, franchise, and personal property tax returns for all 50 states, plus city and locality returns, including tax returns for non U.S. citizens. We use tax software that automatically integrates tax documents and trial balances to minimize manual data entry thus reducing the time it takes to prepare a tax return.

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    Incorporation, LLC Filings

    We have helped hundreds of business owners, just like you file all their necessary business formation filings from Sole Proprietorships, Partnerships, C-corps, S-corps, LLC filings, PLLCs, Professional Corps, Nonprofit Corps. Other services include Articles of Organization (LLCs) Articles of Incorporation (Corps), Registered Agent, Sales Tax and Payroll Registrations IN ALL 50 STATES. 

    We can handle all state and city level employer tax registration requests.  We can also assist with a business expanding into other states where you have added employees in other states or when a company is moving from one state to another or moving its employees from one state to another.  

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    CONSULTING

    Startups, Entrepreneurs, Cannabis

    • Starting a Business
    • Budgeting and Forecasting
    • 1031 Exchanges & Delaware Statutory Trusts (DST)
    • Business Optimization Plans
    • Financial Literacy Classes for high school students or anyone in need (free of charge)

FREQUENTLY ASKED QUESTIONS

If you hire contractors, freelancers, or vendors and pay them more than $600 in business-related payments, then you’ll need to prepare and issue an IRS Form 1099.

The form is due to recipients by January 31 and to be filed with the IRS by February 28.

Who needs a 1099?

Correct Form W-9s are the key to correct 1099s. To avoid possible matching notices with the IRS, it is important to ensure that the official name on the W-9 that corresponds with the Taxpayer Identification Number (TIN) matches exactly what is on file with the IRS.

What is the correct way to prepare Form 1099?

·Since 1921 IRS allows 100% of realized gains from property sales in a trade or business to be deferred

· If an investor sells a property and uses the proceeds to buy a similar property, they can defer capital gains and losses indefinitely or until they make a final sale of a property

What are the tax advantages of a 1031 Exchange?

Yes, the residential energy efficient property credit allows for a credit equal to the applicable percentage of the cost of qualified property. Qualifying properties are solar electric property, solar water heaters, geothermal heat pumps, small wind turbines, fuel cell property, and qualified biomass fuel property expenditures. Only fuel cell property is subject to a limitation, which is $500 with respect to each half kilowatt of capacity of the qualified fuel cell property. Generally, this credit for alternative energy equipment terminates for property placed in service after December 31, 2023. The applicable percentages are:

  1. In the case of property placed in service after December 31, 2016, and before January 1, 2020, 30%.
  2. In the case of property placed in service after December 31, 2019, and before January 1, 2023, 26%.
  3. In the case of property placed in service after December 31, 2022, and before January 1, 2024, 22%.

Are there incentives for making your home energy efficient by installing alternative energy equipment?

The Inflation Reduction Act, H.R. 5376, made broad changes to the clean vehicle tax credit, including extending it through 2032 and creating a new credit for previously owned clean vehicles (Sec. 25E),

For new clean vehicles purchased after Aug. 16, 2022, the tax credit is generally available only if the qualifying vehicle's final assembly occurred in North America (final assembly requirement).

How to check where a vehicle was built

To verify whether a motor vehicle meets the final assembly requirement, dealers and consumers can follow a two-step process (follow link for more information).

https://www.thetaxadviser.com/news/2022/aug/guidance-clean-vehicle-tax-credit.html

Guidance on clean vehicle tax credit

You may be able to take these credits if you made energy-saving improvements to your principal residence during the taxable year. In 2018, 2019 2020, and 2021 the residential energy property credit is limited to an overall lifetime credit limit of $500 ($200 lifetime limit for windows). There are also other individual credit limitations:

  • $50 for any advanced main air circulating fan
  • $150 for any qualified natural gas, propane, or oil furnace or hot water boiler
  • $300 for any item of energy-efficient building property

The residential energy property credit is nonrefundable. A nonrefundable tax credit allows taxpayers to lower their tax liability to zero, but not below zero.

Who qualifies to claim a residential energy property credit? Are there limitations?

Helpful Resources

Links to Useful Resources

  • Retrieve Your Tax Transcript from the IRS

    Get Transcript

  • Apply for an Employer Identification Number (EIN)

    An Employer Identification Number (EIN) is also known as a Federal Tax Identification Number, and is used to identify a business entity.

  • 12 Month Income and Expense tracking spreadsheet for Schedule C Businesses (LLCs, 1099-NEC)

    Profit & Loss Spreadsheet

  • Rental Real Estate (Schedule E) 12-month Income and Expense tracking spreadsheet

    Profit & Loss Spreadsheet

  • Tax Calendar for Businesses and the Self-Employed

    (Downloading lets you add a one-time "snapshot" of the tax calendar events to your calendar program (e.g. Outlook.). It will not automatically refresh it when data is updated by the IRS.)

  • Business Card

Contact us
If you have any questions or want to learn more, please send us an email.

We want to hear from you! Whether you want to hire us to handle all of your business needs or have questions, please get in touch with us!

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