Services - Expert Accounting & Tax Solutions | Palacios Accounting Union City
Certified • Trusted • Bilingual

Comprehensive Financial Services
for Your Success

From tax preparation and strategic planning to bookkeeping and business advisory—Palacios Accounting provides the expert guidance you need to achieve your financial goals.

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Tax Preparation & Strategic Planning

Navigate complex tax regulations with confidence. Our certified professionals maximize deductions, minimize liabilities, and ensure complete IRS compliance for individuals and businesses alike.

Individual Tax Returns

Personalized tax preparation focused on maximizing your refund while ensuring full compliance with federal and state regulations.

  • Federal & Multi-State Income Tax Preparation
  • ITIN Application & Renewals (W-7 Certified Specialist)
  • Earned Income Tax Credit (EITC) Optimization
  • Schedule C Self-Employment Income Reporting
  • Investment Income & Capital Gains/Losses

Additional Coverage

Rental Property Income
Retirement Distributions
Educational Credits
Cryptocurrency Reporting
Foreign Income Reporting
Prior Year Amendments

Business Tax Services

Strategic tax planning and compliance for all entity structures—from sole proprietorships to complex corporations.

  • Corporate Tax Returns (Form 1120 & 1120-S)
  • Partnership & Multi-Member LLC (Form 1065)
  • Sales & Use Tax Compliance (NJ, NY & Multi-State)
  • Quarterly Estimated Tax Planning & Filings
  • Section 179 & Bonus Depreciation Strategies

Advanced Tax Services

R&D Tax Credits
Cost Segregation Studies
Multi-State Nexus Analysis
Tax Provision Calculation
Entity Selection Consulting
1031 Exchange Support

IRS Representation & Resolution

Expert advocacy and defense when dealing with IRS audits, notices, collections, and complex tax disputes.

  • Audit Defense & Examination Support
  • Offer in Compromise (OIC) Negotiation
  • Installment Agreement Establishment
  • Penalty Abatement & Interest Relief Requests
  • Levy & Wage Garnishment Release

Resolution Services

Innocent Spouse Relief
Back Tax Return Preparation
Currently Non-Collectible Status
Appeals Representation
Collection Due Process Hearings
Lien Withdrawal Assistance

Accounting & Bookkeeping Excellence

Keep your financial records accurate and organized with professional bookkeeping services. We provide the clarity and insights needed for confident business decision-making.

Professional Bookkeeping

Meticulous transaction recording and account management that keeps your business financials organized and current.

  • Accounts Payable & Receivable Management
  • Bank & Credit Card Reconciliation
  • General Ledger Maintenance & Review
  • QuickBooks Setup, Training & Optimization
  • Expense Categorization & Tracking

Extended Services

Monthly Closing Procedures
Catch-Up Bookkeeping
Cloud Accounting Solutions
Multi-Entity Consolidation
Invoice Processing Automation
Vendor Management

Financial Reporting & Analysis

Comprehensive financial statements and custom reports that transform data into actionable business intelligence.

  • Monthly Profit & Loss Statements
  • Balance Sheet Preparation & Analysis
  • Cash Flow Statement & Forecasting
  • Key Performance Indicator (KPI) Tracking
  • Budget vs. Actual Variance Analysis

Advanced Reporting

Custom Management Dashboards
Year-End Financial Closings
Ratio & Trend Analysis
Break-Even Analysis
Departmental Reporting
Executive Summaries

Payroll Management

Full-service payroll processing ensuring accurate, timely payments and complete tax compliance for your workforce.

  • Multi-Frequency Payroll Processing
  • Payroll Tax Calculation & Withholding
  • W-2 and 1099 Preparation & E-Filing
  • Direct Deposit & Check Distribution
  • Quarterly Tax Return Filing (Form 941, 940)

Compliance & Support

State Unemployment Insurance
New Hire Reporting
Time & Attendance Integration
Benefits Administration
Garnishment Processing
Payroll Audit Support

Business Advisory & Formation

From startup to scale-up, receive strategic guidance that helps your business thrive in competitive markets through informed financial decisions.

Business Formation & Setup

Launch your business on solid legal and financial footing with proper entity selection and comprehensive registration.

  • LLC, S-Corp & C-Corp Formation Services
  • Entity Selection & Tax Structure Analysis
  • EIN / Federal Tax ID Number Acquisition
  • Operating Agreement Development Support
  • Business License Applications (NJ, NY & Multi-State)

Startup Support

Registered Agent Services
Corporate Governance Setup
Compliance Calendar Creation
Chart of Accounts Design
Banking Relationship Setup
Merchant Account Guidance

Strategic Financial Planning

Data-driven strategies to improve profitability, optimize cash flow, and plan for sustainable long-term growth.

  • Annual Budgeting & Multi-Year Forecasting
  • Cash Flow Management & Optimization
  • Financial Modeling & Scenario Planning
  • Profitability Analysis by Product/Service
  • Cost Reduction & Efficiency Strategies

Strategic Services

Pricing Strategy Consulting
Capital Expenditure Planning
Working Capital Optimization
Business Succession Planning
Exit Strategy Development
Merger & Acquisition Support

Specialized Services

Comprehensive support services to complement your core accounting needs and streamline business operations.

  • Notary Public Services (Official Documents)
  • Sales Tax Audit Representation
  • Startup Financial Consulting & CFO Advisory
  • Business Valuation Support Services
  • Document Translation Services (Spanish/English)

Additional Offerings

Financial Statement Compilations
Internal Controls Assessment
Fraud Detection & Prevention
Litigation Support Services
Estate & Trust Accounting
Nonprofit Accounting Services

Industry-Specific Expertise

Our team brings specialized knowledge across diverse industries, understanding the unique challenges and opportunities within each sector.

Retail & E-Commerce

Inventory costing, sales tax nexus, POS integration

Food & Hospitality

Menu costing, tip allocation, liquor license compliance

Construction & Trades

Job costing, progress billing, certified payroll

Healthcare & Medical

Medical billing integration, HIPAA compliance

Real Estate

Property management, 1031 exchanges, rental income

Technology & SaaS

R&D credits, deferred revenue, equity compensation

Transportation

IFTA reporting, driver classification, fleet depreciation

Professional Services

Project accounting, revenue recognition, billable hours

Bilingual Excellence

Fluent Spanish and English support ensuring clear communication and understanding throughout our partnership.

Certified Professionals

Licensed, insured experts committed to ongoing education and maintaining the highest industry standards.

Data Security

Bank-level encryption, secure cloud storage, and strict confidentiality protocols protect your sensitive information.

Year-Round Support

Not just tax season—we provide continuous guidance and support 365 days a year for all your financial needs.

Frequently Asked Questions

What documents do I need for tax preparation?
You'll typically need W-2s and 1099s for income, receipts for deductible expenses, mortgage interest statements (Form 1098), property tax records, investment statements showing capital gains and losses, and documentation of charitable contributions. For business owners, we'll also need profit/loss statements, balance sheets, and payroll records. We provide a personalized checklist during your initial consultation to ensure you have everything needed for an accurate and complete tax return.
Can you help with IRS notices and audits?
Absolutely. We have extensive experience representing clients before the IRS and state tax authorities. We'll review the notice, communicate directly with the IRS on your behalf, gather and organize necessary documentation, and work diligently to achieve the best possible resolution. Our goal is to minimize your stress while protecting your interests throughout the audit or resolution process.
Do you work with QuickBooks or other accounting software?
Yes, we're certified QuickBooks ProAdvisors and work extensively with both QuickBooks Online and QuickBooks Desktop. We also support other popular platforms including Xero, FreshBooks, Wave, and industry-specific software. We can help with initial setup, training your team, cleaning up existing files, and providing ongoing bookkeeping services within your software of choice.
What's the difference between an LLC and S-Corporation for my business?
An LLC provides liability protection with flexible management structure and pass-through taxation. An S-Corporation (which can be an LLC electing S-Corp status) can offer tax savings through salary/distribution strategies but requires more formality including payroll, reasonable compensation, board meetings, and corporate minutes. The optimal choice depends on your income level, business type, growth plans, and tax situation. We provide comprehensive entity selection analysis to help you make the best decision for your specific circumstances.
How often should I update my business financial records?
We recommend monthly bookkeeping and financial reviews for most businesses. This frequency provides timely insights for informed decision-making, ensures ongoing tax compliance, helps you manage cash flow effectively, and prevents year-end surprises. Monthly updates also make tax preparation smoother and more efficient. For startups or rapidly growing businesses, even more frequent reviews—weekly or bi-weekly—may be beneficial to stay on top of your financial position.
Do you provide services in Spanish?
Yes! We're fully bilingual and provide all of our services in both Spanish and English. Our team can conduct consultations, explain tax situations, prepare documents, and communicate with you in your preferred language. We also offer translation services for official financial documents. Our bilingual capability ensures that language is never a barrier to receiving excellent financial guidance and service.

Ready to Transform Your Financial Future?

Schedule a complimentary consultation to discover how Palacios Accounting can help you achieve your financial goals. No pressure, just expert advice tailored to your unique situation.

Your Trusted Union City Accounting Partner

Palacios Accounting proudly serves Union City, NJ and the greater Hudson County area including North Bergen, West New York, Weehawken, Guttenberg, Hoboken, Jersey City, and beyond. Whether you're searching for a "CPA near me," need expert small business accounting in Hudson County, or require comprehensive tax preparation and planning services, our team delivers the local expertise and personalized attention your financial success demands.

We specialize in supporting Hispanic and Spanish-speaking business owners throughout New Jersey, offering fully bilingual services that make complex financial matters clear and accessible. From individual tax returns to multi-state corporate compliance, trust Palacios Accounting as your partner in financial prosperity.

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Call Us: (201)392-8224

Email: Palacios4205@gmail.com

4205 Bergenline Ave Fl 2, Union City, NJ

Hours of Operation

Monday – Thursday: 9:00 am – 5:00 pm
Friday: 9:00 am – 3:00 pm
Saturday – Sunday: Closed


© 2026, Palacios Accounting Inc. All Rights Reserved.