We are a CPA firm proudly serving Detroit and the Nation.
We help our clients to grow and prosper by providing the most competent and comprehensive accounting, consulting, and business planning services available.
Tellis & Company
We offer a wide range of accounting and consulting services to meet the needs of small and mid-sized businesses. From simple compiled financial statements to complex audited financial statements and several options in between.
Forecasts and Projections
Trying to gain buy in from stakeholders? Looking to recruit a partner in your business? Forecasts and Projections are tools you need to logically present your plans to lenders or potential investors. These tools also provide the information you need to make sound business decisions.
Assistance with attaining 501(c)3 status and other non-profit status, development of accounting systems to track member contributions and interface with financial accounting data.
Financial Statement Preparation
From simple compiled financial statements to complex audited financial statements and several options in between, we can work with you to determine what level of service you need, and how to get the most for your money.
We'll work with you to answer those difficult questions that every business owner faces. From cash flow to human resources to profitability issues, we can help you come up with a plan to help your business reach its long and short-term goals.
Tellis & Company can perform financial audits for your business or help you with staffing an internal audit function for your company. Whether your need is for mandated regulatory auditing or trying to identify organizational risks, we can help you monitor and adjust your business practices as needed.
We are more than just your standard tax service. In addition to individual and business tax return preparation, our tax services include: long-range planning, annual planning, and representation before IRS and other taxing authorities. Tellis & Company is your one stop for all your tax and accounting needs.
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Frequently Asked Questions
How long should I keep my taxpapers?
At least three years, but six years is preferable. The IRS has three years after you file a tax return to complete an audit. The IRS can audit you for up to six years if it suspects that you underreported your income by 25% or more. If the IRS suspects fraud, there is no time limit for an audit, although audits beyond six years are extremely rare. Keep records of purchases of real estate, stocks, and other investments for at least three years after the tax return reporting their sale was filed.
How long should I worry if I haven’t filed tax returns that I should have filed?
At least six years. The government has six years from the date the nonfiled return was due to criminally charge you with failing to file. There is no time limit, however, for assessing civil penalties for not filing. If you didn’t file for 1958, you still have an obligation if you owed taxes for that year. Not until you actually file a return does the normal audit time limit-three years-and collection time limit-ten years-start to run.
Don’t over worry about a nonfiled return due more than six years ago if you haven’t heard from the IRS. The IRS usually doesn’t go after nonfilers after six years—unless the IRS began its investigation before the six years elapsed. After six years, the IRS transfers its computer files to tape for storage.
What should I do if I don’t get my refund?
If you filed your tax return and it’s been eight weeks, call the IRS tax refund hotline at 800-829-4477, Monday–Friday, 7 a.m. to 11:30 p.m. Or, call the 24-hour assistance number at 800-829-1040 and request assistance from the taxpayer advocate.
If you filed your return on or before April 15 and don’t receive your refund until after May 31, the IRS must pay you interest.
If you never get a refund, it may have been intercepted to pay other state or federal taxes you owe; a defaulted student, SBA, or other federal government loan; delinquent child support; or a public benefit, such as HUD, VA, or Social Security overpayment. In these situations, you are supposed to be notified in writing, but don’t count on it.
Who has access to my IRS file?
Federal law makes IRS files private, not public records. The law has many exceptions, however. IRS files can be legally shared with other federal and state agencies. Most leakage comes as a result of sloppy state agencies that are granted access to IRS files. Furthermore, IRS employees have been caught snooping, and computer hackers have broken into government databases. While violation of the Privacy Act is a crime, rarely is anyone prosecuted for it, though IRS personnel can be fired if caught.
If I can’t pay my taxes, should I file my return anyway?
Yes. Filing saves you from the possibility of being criminally charged or, more likely, from being hit with a fine for failing to file or for filing late. Interest continues to build up until you pay. Of course, filing without paying will bring the IRS collector into your life, but she’ll be friendlier if she doesn’t have to hunt you down. The sooner you start filing, the better.
Should I notify the IRS when I move?
Yes, unless you think you can hide from a tax bill. The IRS moves slower than you do, so I suppose it’s possible if you are constantly on the move. Otherwise, report your new address on IRS Form 8822. A post office change of address form may not work. Notifying the IRS assures that you will get audit letters and other vital notices, which often have strict time limits for replies.
When we started working with Tellis and Company our annual reporting was years behind. Once Tellis and Company accepted us as a client within one year, they perform three years of back audits.
Thanks to them now we have annual reporting to the internal audit committee and we can make sound decisions surrounding the organization.
Tellis and Company helped us as the outsourced CFO. They helped streamline our compliance reporting requirements.
We helped our client increase profitability, scalability, and continued growth.
- Reporting on a regular basis giving the owner peace of mind.
- Tracking Revenue streams, better visibility to make informed decisions.
- Eliminated year-end crunch/backlogs
- Produced accurate annual tax returns.
Tellis and Company helped reorganize our accounting infrastructure to accurately report the campaign financial results to the Federal and State of Michigan in order to stay in compliance with their regulations.
- Successfully tracking donations and expenses for each election and individual candidate
- Successfully report annual activities to the Internal Revenue Services
- Successfully able to track inter-company transactions.
Tellis & Company?
Our mission is, and always has been, to provide the most competent and comprehensive accounting, consulting, business, and tax-planning service available.
"When I came to Tellis & Company with my concerns with keeping track of receivables as well as how to make sure my employees we compensated timely and accurately, they proved themselves to be knowledgeable and most importantly, level headed."
"We would recommend Tellis & Company for all your non-profit needs. We have worked with them on not only our tax status, but employed their business consulting services, and had then conduct a mock internal audit in our fifth year to ensure that we are not at risk of having our exempt status revoked. Without Tellis & Company, we would not be in the financial shape we are in, or in the position to continue expanding the services that we provide."
"I have worked with Tellis & Company, PLLC services for ten years and they have always been exemplary in their work and professional standing. The owner and staff has always provided the highest quality of services that I have seen. When it came time to look for an auditor for the Presbytery of Detroit, we looked at several firms that had the knowledge of non-profit corporations, and Tellis & Company stood out above a number of firms."
"Tellis & Company Co. has been preparing taxes for my family for about the last eight years. We have been more than satisfied. Not only are they extremely knowledgeable in tax law, but accurate, timely and affordable. Mrs. Tellis is a pleasant woman to work with and when I first entered her office their was a feeling of peace and well-being. I highly recommend Tellis & Company for all of your tax needs."