Numbers are necessary to navigate your business. Complete and accurate accounting records will reflect the true financial results of your business operations. Here are some examples of how we can help with your bus and motorcoach business.

• Chart of accounts: establish or refine
• Transaction analysis: approve or reclassify
• Accounting policy and procedures: review and advise
• Asset tracking: book and tax depreciation reports
• Report design: developed for the bus industry
• Periodic accounting check: monthly, quarterly, annual

Do your lending institutions, leasing companies, shareholders or investors need more than internal financial reports?  Financial Statements issued by a Certified Public Accountant come in varying levels of assurance and cost.  We prepare the following types of financial statements.

• Basic financial statement preparation – for internal purposes.
• Compiled financial statements – CPA report issued without an opinion or verifications.
• Reviewed financial statements – CPA issued report expressing limited assurance on the accuracy of the financial statements.
• Audited financial statements – CPA must understand the internal controls, assess fraud risk, and obtain audit evidence through observation, inspection, confirmation, examination, and analytical procedures. A report is issued upon completion of the audit to accompany the financial statements. This is the highest level of compilation and review.

Recordkeeping for income tax can be different than that used for business operations. The rules are different and subject to frequent change. Areas that commonly differ are long-lived assets such as motorcoaches and heavy service equipment, major repairs, depreciation, and fuel tax credits. We prepare income tax returns for businesses and individuals.

• Corporate returns – C and S
• Limited Liability Companies
• Limited Liability Partnerships
• Partnerships
• Consolidated returns
• Amended returns
• Personal returns
• Trust Returns
• Gift tax returns

Tax planning is an integral part of your financial life. Below are circumstances that may benefit from tax planning.

• New tax law
• Multiple entities with common ownership
• Starting a new entity
• Selling your business
• Business succession
• Buying a business
• Buying real estate

We assist our motorcoach clients with COVID-related financial accounting and reporting.

• Paycheck Protection Program (PPP)
  • Eligible uses
  • Full forgiveness
• Employee Retention Credit (ERC)
  • Calculation
  • Amended return preparation (Form 941-X)
  • Maximize the payroll tax credit (while considering PPP forgiveness)
• Coronavirus Economic Relief for Transportation Services (CERTS Program)
  • Eligible uses
  • Reporting

BUSBooks became a go-to source during the pandemic providing COVID-related information, clarification, and hands-on assistance to the motorcoach industry. Tracy presented to many associations including UMA, ABA Women in Buses, California Bus, Maryland Motorcoach, Northwest Motorcoach, Pennsylvania Bus, and Florida Motorcoach Associations.