PROFESSIONAL SERVICES

An independent audit gives board members, donors, and grantors clear insight into financial activity, internal controls, and compliance. For many organizations it is also the condition attached to a major grant or a state charitable filing.

We audit Texas open enrollment charter schools and their related entities, including TEA reporting requirements, component unit presentation, and state and federal program compliance. Charter school deadlines and reporting formats differ from a standard nonprofit audit, and we build the engagement calendar around them.

Organizations that expend $1 million or more in federal awards in a fiscal year must undergo a Single Audit under Uniform Guidance. We test major programs, evaluate internal control over compliance, assess adherence to federal award requirements, and handle the Federal Audit Clearinghouse submission.

Owner operated companies and professional service firms sometimes need an audit to support lenders, investors, a buy sell agreement, or an ownership transition. The result is reporting that owners and outside parties can both rely on.

 Construction contractors are our most frequent review clients. Banks, bonding agents, and sureties commonly require reviewed statements before extending credit or increasing bonding capacity, and many public bid packages require them for prequalification. We prepare work in progress schedules and report on a GAAP or tax basis depending on what the user of the statements requires. JMS CPAs, PLLC is a member of Associated Builders and Contractors.

 Moving and storage companies participating in the DoD Defense Personal Property Program must submit CPA prepared financial statements for annual qualification and rate filing with USTRANSCOM and SDDC. We perform both audits and reviews for transportation service providers. Our firm maintains an active ECA certificate, so we can handle the submission through the Defense Personal Property System directly rather than routing it back through your office. 

 Federal and state returns for corporations, S corporations, partnerships, exempt organizations, estates and trusts, and individuals. Forms 1120, 1120-S, 1065, 990, 1041, and 1040, plus Texas franchise tax and other state filings. 

 Entity structuring, owner compensation, timing of income and deductions, fixed asset and depreciation planning, and multistate exposure. The work that matters happens before December 31, not in April. 

 Form 990, 990-EZ, 990-T, and 1023 preparation and review, including public support testing, unrelated business income analysis, and state charitable registration. We also review returns prepared by others before a board signs off.