$1 Million Tax Audit Protection 

Accounting Firm in Draper, UT

As a small business owner you have more important things to do than to keep your own books. We take care of your books for you, so you can get back to the job of running your business and generating profits!

Each month or quarter we'll do the following things for you...


These tasks form the solid foundation of your small business accounting system. You can customize the package of services you receive by adding payroll, tax planning, tax preparation, or any of our other services.

Bank Reconciliation

Reconciling your business checking account each month allow us to keep your bank account, accounting, and taxes up-to-date.

Having us reconcile your account each month allows you to...

  • Identify lost checks, lost deposits and unauthorized wire transactions.
  • Detect and prevent excess/unjustified bank charges and ensures transactions are posted correctly by your bank.
  • Detect and prevent embezzlement of funds from within your company.
  • Know how your business is doing? You can't really know unless all accounts are reconciled and properly accounted for on your financial statement.
  • Manage your cash more effectively. Proper management of funds not only saves money, it makes money for you.
  • Protect yourself. By timely reconciling and promptly objecting to your bank about any unauthorized, fraudulent or forged checks presented to your bank and paid by that bank, you can relieve your agency of responsibility for the shortfall and transfer the risk to the bank. This reason to reconcile alone should be enough. Crime exists.
  • Sleep Better. You will sleep more peacefully at night knowing your bank accounts are reconciled, in balance and that all escrow funds, accounts, checks and disbursed funds are properly accounted for.

Income Statement

An income statement, otherwise known as a profit and loss statement, basically adds an itemized list of all your revenues and subtracts an itemized list of all your expenses to come up with a profit or loss for the period.

An income statement allows you to...

  • Track revenues and expenses so that you can determine the operating performance of your business.
  • Determine what areas of your business are over-budget or under-budget.
  • Identify specific items that are causing unexpected expenditures. Like phone, fax, mail, or supply expenses.
  • Track dramatic increases in product returns or cost of goods sold as a percentage of sales.
  • Determine your income tax liability.

Balance Sheet

A balance sheet gives you a snapshot of your business' financial condition at a specific moment in time.

A balance sheet helps you...

  • Quickly get a handle on the financial strength and capabilities of your business.
  • Identify and analyze trends, particularly in the area of receivables and payables. For example, if your receivables cycle is lengthening, maybe you can collect your receivables more aggressively.
  • Determine if your business is in a position to expand.
  • Determine if your business can easily handle the normal financial ebbs and flows of revenues and expenses?
  • Determine if you need to take immediate steps to bolster cash reserves?
  • Determine if your business has been slowing down payables to forestall an inevitable cash shortage?

Balance sheets, along with income statements, are the most basic elements in providing financial reporting to potential lenders such as banks, investors, and vendors who are considering how much credit to grant you.

Maintaining a Clean General Ledger

The general ledger is the core of your company's financial records. These records constitute the central "books" of your system. Since every transaction flows through the general ledger, a problem with your general ledger throws off all your books.

Having our Draper tax accountants review your general ledger system each month allows us to hunt down any discrepancies such as double billings or any unrecorded payments. Then we'll fix the discrepancies so your books are always accurate and kept in tip top shape.

Unlimited Consultations

We are always available to spend time with you so you fully understand how to interpret and utilize the financial information we provide. Our consultations are already included in our price, so please feel free to call us whenever you have a question or concern.

Contact Paramount Tax & Accounting CPAs - Draper for any Draper tax related questions. We are happy to assist any way we can!

Easy Online Booking

Get started with Paramount for your tax services in Draper, UT, recommended by family and friends every time.

OR

Request Appointment

Contact Paramount Tax & Accounting CPAs - Draper

Easy Online Booking

Get started with Paramount for your tax services in Draper, UT, recommended by family and friends every time.

OR

Request Appointment

Contact Paramount Tax & Accounting CPAs - Draper
Request Appointment

acounting firms Draper

Hear Why Our Clients Love Us

  • Mike Pedersen
    I've been using Paramount Tax for 6 years now. No matter who I've worked with, they've always delivered above my expectations! I have recommended them to colleagues of mine that now use their services as well.
  • Alexis Amundsen
    Paramount Tax is extremely efficient and knows how to take care of their clients. Isaak was a pleasure to work with and was able to get my taxes done in a snap! It was a seamless appointment. I would highly recommend Paramount Tax!
  • Lisa Christensen
    Dave was excellent with getting our taxes done and helping us get the best outcome even with having to pay this year.
  • William Dunford
    Excellent, fast service!
  • Greshma Jackson
    We filed taxes for the first time on our LLC with Braden at Paramount and had a great experience. Braden was professional and helped us save a lot on our taxes this year. Highly recommend this firm and Braden.
  • Derek
    Braden T was awesome saved us a ton of money, very enjoyable to work with.
  • Kelly Christian
    Braden Thompson at Paramount did a spectacular job on my taxes. My only regret is that I didn't go to Paramount and have Braden do my taxes years ago!
  • Cormac Mceneaney
    Thanks Braden. Efficient and effective.
  • Jacob
    We just did our taxes and it was an awesome experience! We threw some curveballs at Braden and he did awesome. 10/10 will come back to with him.
  • Bailey W
    Braden was so helpful for our taxes this year! Definitely recommend him!
  • Rebekah Gonet
    Braden is the best!! Been coming here for years. Highly recommend Braden.
  • Alex Green
    Malcolm was super awesome! Originally we had an appointment with someone else but Malcolm assisted us cause the other person was in his appointment late. He was super fast and helpful and went over everything. Thank you Malcolm!
  • Sharlissa Olson (Punskittles)
    Very professional and friendly. They make a complicated tax process so simple! 100% recommend
  • Erica Nielsen
    This was our first time using them and they were great. They were quick and very knowledgeable. We will definitely use them again.
  • Belle Thompson
    Everyone at this office is so kind and friendly and super helpful! The accountant who helped me is named Braden Thompson and I’m bringing all my business friends and clientele to him because he worked miracles on my business taxes and personal as well—he is so knowledgeable and goes over and beyond to help! Best accountant and accountant firm in Utah hands down.
  • Anna Welch
    Thanks, Todd, for saving me so much time and sparing me the headache of doing my own taxes. This isn’t my expertise at all and you made the whole process feel so simple.
  • Kevin Thompson
    Most amazing customer service and expertise. Braden was super helpful.
  • Tyler Thompson - Basketball
    Easy to schedule, friendly staff. Jensen was great!
  • Adam Russo
    After years of working with an agent at Paramount Tax (and a horrific experience), I came back to the main offices for a last hurrah before looking elsewhere. Paramount as a whole had been good to me and my business, but that last experience with Christy was terrible. My wife and I (and partner on the phone) were treated so night-and-day different than last year it blew our minds. Jensen was our accountant this year, and just was one of the nicest and friendliest people we've ever worked with. Jensen was a little newer to the space, but had great support for the few questions that arose, and had a great desire to ensure we were well taken care of - and we were. Fantastic customer service, a desire to go above and beyond to help us, and just a great atmosphere that was lacking from the past few years. Paramount has, since my business was founded, taken care of us for our tax needs, and I've (hopefully) found a new permanent rep in Jensen. Jensen - you've kept us Paramount Tax customers as long as you're there! Thank you!
  • Rachel Beverley
    Isaak is the best tax preparer we have ever worked with. He is so friendly and engaging! He is knowledgeable and makes himself available with any questions. Truly the best of the best.
Draper, UT Tax Review

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We review 3 years back to find errors / missed deductions.

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Many people do not know how a professional tax firm differs from a tax preparer. The main difference when working with a professional tax and accountingbookkeeping firm, such as Paramount Tax & Accounting CPAs - Draper, is that we know taxes!

Paramount has worked hard to create relationships to deliver the value that our clients expect. In fact, our goal is to be the No. 1 Accounting firm in Draper. So when you ask yourself, "Where can I find accountingbookkeeping services near me?"... think no further than Paramount Tax & Accounting CPAs - Draper!

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