We view our relationship with each client as a unique, long-term partnership. We build a high level of trust with each of our clients through proven, sound financial support and consistent accessibility to our clients. We take pride in the fact that the overwhelming majority of our new relationships have been referred to us by current, satisfied clients.
We specialize in personal and small business financial management. We have partnerships with clients in a wide range of business specialties, including medical practitioners, retail, food service, construction, personal care, manufacturing, and others. We also provide tax preparation and financial services to individuals.
At Monica Stomps, CPA, we treat your individual finances as just that - individual finances. We don’t try to fit your unique financial and tax preparation needs into a cookie-cutter solution. We develop customized solutions to fit your needs. We strive to form lasting relationships with our clients, and we love to help you save your hard-earned money.
We take an “active” approach to tax preparation. We don’t just mechanically run your numbers through tax software. We proactively look for ways that we can help you save money on your tax return. For new clients, we review your filing from previous years to ensure accuracy and consistency. If anything stands out as being unusual, we will work with you to investigate the situation. If a correction is needed, amended returns can be prepared. 99% of all returns are filed electronically. Our tax service to individuals can be limited to annual filing, or we can help you organize and track your tax documents year-round.
Have you ever needed to calculate estimated taxes, but didn’t know how or where to start? We can help you with this! We will calculate your estimated annual income and your estimated taxes, so you know exactly how much you need to set aside, while maximizing your take-home pay right now. You’ll benefit from the peace of mind that you’ll have what you need, when you need it. If you need to make estimated tax payments, we can handle everything from notifying you as payments come due, to disbursing the payments on your behalf from an account that you specify. That’s the level of personalization that each of our clients can expect to experience.
We can also help you with general planning and/or tax advice. You can be confident that we will fully research your situation before providing you with a sound, comprehensive solution. You can trust that your question will be answered by a CPA who continuously stays up-to-date on the latest tax law changes with a comprehensive continuing education curriculum.
We offer honest humility on certain topics and refer you to a network of highly competent experts in other areas when needed.
If everyone is thinking alike, then somebody isn't thinking.
All small business owners need an accounting consultant who is the “quarterback” in their financial game plan - someone who will coordinate all the tax, economic, and financial aspects of the business. We ensure full compliance with applicable government regulations, act as an advocate to keep taxes as low as possible, keep a watchful eye on the bottom-line result of each business transaction, and assist you in developing sound business plans and goals.
We can help with so much more than annual tax preparation. We can also provide full-service bookkeeping & accounting support to our small business clients. Our bookkeeping & accounting support ranges from business account balancing to preparing detailed monthly and/or quarterly financial statements that are often required to obtain business or personal financing.
With software programs like Quickbooks, we can not only balance your business account, but also provide you with month-to-month analyses of your business operation. This valuable information can alert you to positive trends as well as potential “trouble spots,” and can be instrumental in formulating ongoing strategies to reduce your operational costs and increase your profit margins.
Tax preparation for small businesses can be complicated and involved, and can be very different from individual tax filing. Our 25+ years of experience gives you every advantage in an industry where experience is critical. We use a state-of-the-art tax preparation system, Thomson Reuters Ultratax CS, to further ensure that we’ve covered all the bases.
We keep up-to-date on changes in the tax laws and will alert you to any issues that may have ramifications for your small business. We can assist you in filing commercial activity or sales and use tax returns, as well as provide support for you in estimated tax planning and strategies, review and amendment of prior-year returns, and representation in the event of an audit.
As a small business owner, you may have a host of third-party vendors that you need to track and pay each month, such as office rentals, utilities, supplies, etc. It can become very time-consuming to track multiple invoice due dates and amounts, taking valuable time away from creating value in your business. If payments are missed or submitted late, late fees and/or cancellation of necessary services may occur. We eliminate these costly hassles and coordinate your bill pay needs on your behalf. We track invoice due dates, and monitor invoiced amounts to ensure consistency from month to month. If we notice anything unusual, we will notify you, and even investigate with the service provider on your behalf. We pay the vendor on your behalf, from an account that you specify.
When it comes to payroll processing, our involvement can be as basic or as full-service as you need it to be. Many payroll service providers simply perform data-entry based on the work hours information they receive from their clients. We use a more well-rounded approach to handle payroll preparation and timely filing of payroll tax forms tailored to our small business clients. Our payroll tasks include:
If you are looking for advice on small business set-up, accounting practices, or tax planning, give us a call. We welcome questions from our small business clients, and we’re thrilled when our clients get positive bottom-line results. You can be confident that our answers are supported by extensive research and experience. You can also trust that your question will be answered by an experienced tax professional.
Monica started her firm in 1996. Monica is a licensed CPA in the state of Ohio. She can prepare tax returns for all states except California. Monica has expertise in payroll preparation, payroll taxes, and employment practices. She is also experienced in bookkeeping and bill paying, as well as individual and corporate tax preparation. Monica is a member of the Ohio Society of CPAs (OSCPA); the American Institute of Certified Public Accountants (AICPA); a registered preparer and e-filer with the IRS; and a Certified Quickbooks Advisor. She is married and enjoys golf and traveling with her family.
Sunshine has been working with Monica since 2021. She is experienced in payroll preparation, bookkeeping and individual income tax preparation. Sunshine is married and enjoys spending time with her family, hiking, painting and gaming.
John started working with Monica in 2022. A 2020 Butler University graduate majoring in finance and MIS, John has experience in individual tax preparation and bookkeeping. John enjoys golfing, watching the Buckeyes, and spending time with family and friends.