Frequently Asked Questions

At Mary Khalil, CPA, we offer a wide range of financial services, including:

• Tax Preparation and Planning
• Business Accounting & Bookkeeping
• Payroll Services
•  We serve individuals, small businesses, and the hospitality industry, tailoring our services to meet your unique needs. 
• IRS Representation & Audit Support
• Financial Consulting
• Outsourced Controller Services (specialized for Hotels & Restaurants)
• QuickBooks Setup & Support
• Cash Flow Management
• Business Valuation & Succession Planning

 We work with businesses of all sizes, including small and medium-sized enterprises (SMEs), restaurants, hotels, startups, and more. We specialize in helping small businesses streamline their accounting processes, optimize tax strategies, and improve financial performance. Our Outsourced Controller Services are particularly designed for the hospitality industry, including hotels and restaurants. 

To get the most out of your initial meeting, it's helpful to have the following documents ready:

• Your most recent tax returns (if applicable)
• Financial statements (balance sheets, income statements, etc.)
• Any relevant accounting or tax documents (invoices, receipts, expense reports, etc.)
• Business formation documents (if you're a business owner)
• Questions or concerns you may have about your financial situation

We'll walk you through everything step-by-step during the meeting.

 Tax laws and regulations are constantly evolving, and we ensure that our clients stay up-to-date with the latest changes. You can subscribe to our blog for updates on tax tips, industry news, and more. Additionally, we will proactively notify you of any changes that may impact your tax filing or business strategy. 

If you're running a business, preparing your own taxes, or dealing with complex financial matters, it’s often a good idea to work with a CPA. An accountant can help with routine bookkeeping and basic tax filing, while a CPA offers more specialized expertise in tax planning, business strategy, IRS representation, and financial consulting. We can help guide you in determining whether a CPA is right for your situation.

• Tax Preparation involves gathering your financial data and filing your tax returns with the appropriate authorities.
• Tax Planning is a proactive approach to minimize your tax liabilities by identifying deductions, credits, and strategies to optimize your tax situation throughout the year.

Both are essential, but tax planning can help you save money before tax season arrives.

 Yes! We provide IRS audit support and can represent you in case of an audit. Our team will assist with organizing the necessary documents, communicating with the IRS, and resolving any issues that arise during the audit process.