First Nationwide Accounting Services provides accounting, income tax preparations and payroll services for businesses, individuals, homeowner associations and apartment building owners throughout the United States.
We work as a team, combining our diverse knowledge and experience for the benefit of our clients. This is the key to providing exceptional results.
Initial consultations are available at no cost. Our objective is to help our clients achieve their goals by providing superior service and advice. Call us when your future depends on the highest standards. We have a simple approach: We serve every client as if they were our only client.
Services we provide include the following:
- Accounting, bank reconciliations, and preparation of financial statements;
- Tax advice and planning;
- Financial planning and advice;
- Income tax return preparation;
- IRS and FTB defense;
- Forensic investigations;
- Establishing self-directed IRA and pension accounts;
- Business consulting;
- Due diligence for business and real estate acquisitions;
- Payroll service;
- Billing service;
- Assistance with business startups;
- Assistance with business (SBA) and real estate loans; and
- Reinstating suspended corporations.
Barter for Accounting Services:
First Nationwide Accounting Services understands that paying hourly fees for accounting services is difficult, even when an accounting firm charges highly competitive fees. Unfortunately, it is expensive to run an accounting firm and costs must be passed on to clients.
In some instances First Nationwide Accounting Services will provide accounting and tax services in exchange for certain goods and / or services. Barter or trade arrangements must be made in writing, in advance of our commencing to provide services to you. In some cases we will accept barter for 100% of our services. In other cases the barter percentage may be less.
Our firm will consider accepting the following in exchange for accounting and tax services: Advertising, California Land, Arizona Land, Colorado Land, Texas Land, Nevada Land or other Real Property, Trust Deeds, Antiques, Political or Historical Memorabilia, Classic Cars, LLC Interests, LP Interests, Stock in Small Corporations, Construction Remodeling Services, use of office space in high quality buildings, Design and Production services for major websites, High Quality Jewelry, and Restaurant Gift Certificates. Since our need for goods and services will vary over time, please call to discuss the barter of your goods and / or services for accounting and tax services.
When goods or services are accepted in exchange for accounting and tax services, both parties exchange their services based upon the fair market value of the service provided. The IRS requires that the fair market value of goods and services traded must be included in the income of both parties.
Why We Barter for Accounting Services
We accept bartered goods and services for accounting, financial, and tax services because we want your business and we know that you will save money if you can trade for our professional services. In addition, we don’t want a temporary shortage of cash to prevent you from acquiring the competitive advantage of having access to professional advice and services.
- A restaurant owner trades credit for monthly accounting services. Since his food cost is only 30% of the menu prices, the owner effectively receives a 70% discount on the accounting services provided.
- The owner of a lot, located in the desert, exchanges it for accounting and tax services worth $2,000. The lot owner had previously tried to sell it for three years without success.
- The owner of a small local newspaper barters advertising for accounting services. Since the publisher’s gross profit margin on advertising is 50%, the publisher saves 50% on accounting fees.
- The owner of a desert land parcel worth $30,000 barters it for $5,000 worth of accounting services plus a $25,000 note secured by a deed of trust.
- A furniture store owner exchanges inventory for accounting and tax services. Since the store owner’s markup is 50%, he effectively saves 50% on his accounting services.
- A contactor, who is not working at full capacity, barters his services in exchange for tax defense representation.
- The owner of a fine jewelry store exchanges merchandise for accounting and tax services. Since actual cost is only 40% of retail, her accounting fees are effectively discounted by 60%.
- An individual who inherits political memorabilia and antiques, barters some of them for representation in dealing with the IRS and FTB.
- The owner of a successful business who wants to franchise it, trades corporate stock for the accounting services needed to franchise the business.
- The editor of a small local newspaper, who wants to start his own local newspaper, barters stock and advertising for help in raising the initial capital.
- The owner of office buildings in Los Angeles and Ventura exchanges empty office space for accounting and tax services.
- A closet design and installation contractor trades his services for accounting services and cash payment.
- The owners of a co-op direct advertising mailing franchise, exchanges advertising for billing and accounting services. Since his cost is only 60% of retail, the effective cost of the services are reduced substantially.
- The owner of an advertising billboard company has display space available in Los Angeles that is not earning income. He trades the space for accounting and tax services.