Corporate Tax and Financial Accounting Software

Yes — catch-up and cleanup is a routine starting point. We reconcile from the source statements, fix misclassifications, rebuild the fixed asset register where it's drifted from the books, and produce the closing entries that get the year actually closed. It's a one-time intensive effort, after which a regular monthly close runs smoothly. Closing a prior year for investor reporting is something we frequently prioritise first so that funding conversations aren't stuck.

Typically your US entity owes: a federal return (Form 1120 for a C-Corp), Form 5472 if it has foreign-related-party transactions, state filings, an annual report and franchise tax (e.g. Delaware's, due March 1 with a minimum amount regardless of profit), and potentially FBAR depending on accounts. Foreign ownership adds reporting that domestic-only companies don't have, and missed filings — especially Form 5472, which carries penalties in the tens of thousands — get expensive fast. We map the complete set for your structure and bring lapsed filings back to good standing.

Both are valid; the trade-off is which side carries the US compliance. As a disregarded entity, the LLC's profits flow to the foreign parent, and the foreign parent itself has to register and file US tax — added complexity for an overseas owner. Electing C-Corp treatment (via Form 8832) means the US LLC pays the 21% federal corporate rate on its own profits, files its own return, and the foreign parent generally isn't pulled into US filing simply by owning it. For foreign-owned structures the C-Corp election is usually the cleaner path — we'll prepare a written comparison for your specific facts before you commit.

Yes. The cash-to-accrual transition is something we handle as part of onboarding or year-end — we set up revenue recognition for deferred and subscription revenue, expense accruals, prepaids, and receivables, and apply the new basis consistently across the year so reporting holds together. For companies moving to US GAAP from a local standard, the same process aligns prior balances and reclassifies items that were treated differently before. The point is a consistent baseline going forward, not a one-off fix that drifts.

For a US-only setup with standard volume, QuickBooks Online is the common default. For international structures with multi-currency, Xero usually handles things more gracefully — QuickBooks charges extra for multi-currency features that Xero includes. For new or small entities without an existing system, Puzzle (our bookkeeping tool) gives you clean books with bank and payment integrations from day one, and you can migrate to QuickBooks, NetSuite, or Xero as you scale. We integrate natively with all of these — trial balances pull automatically, filing confirmations sync back — so the close runs from your system of record rather than manual exports.