Organized accounting provides the financial data you need to make informed business decisions rather than guessing about profitability and cash flow. When you track income and expenses accurately, you can identify which products generate the highest margins, determine optimal pricing strategies, and recognize cost-saving opportunities. Strong bookkeeping also ensures tax compliance and prevents IRS penalties that drain resources. Banks require detailed financial statements when you apply for business loans or lines of credit. Without accurate records, you cannot demonstrate creditworthiness or secure financing for expansion. Professional accounting transforms raw transaction data into actionable insights that drive sustainable growth.

Our tax services go beyond annual return preparation to include year-round planning that minimizes your tax burden. We review your business structure to determine if switching from sole proprietorship to S-Corporation could reduce self-employment taxes. We recommend timing for major equipment purchases to maximize Section 179 deductions. We calculate quarterly estimated payments based on your actual income to avoid underpayment penalties. During tax season, we prepare accurate returns for all business entities, claim every legitimate deduction, and file electronically for faster processing. Our bilingual accountants explain your tax situation clearly in Spanish or English and answer questions about deductions, credits, and compliance requirements.

Our comprehensive bookkeeping service tracks all financial transactions including sales revenue, business expenses, accounts payable, and accounts receivable. We reconcile bank statements and credit card accounts monthly to catch errors and prevent fraud. Every expense gets categorized correctly for tax deduction purposes. We generate monthly profit and loss statements showing revenue, cost of goods sold, operating expenses, and net income. Balance sheets track your business assets like equipment and inventory, liabilities including loans and payables, and owner equity. Cash flow statements reveal when money enters and leaves your business. You receive detailed financial reports with explanations that help you understand your business performance and make better decisions.

Yes, our Hillsboro bookkeepers manage complete payroll processing for businesses with any number of employees. Our service calculates gross pay including regular hours, overtime, bonuses, and commissions. We withhold federal income tax, Social Security, Medicare, Oregon state income tax, and any applicable local taxes. Direct deposits go to employee bank accounts on your chosen schedule whether weekly, bi-weekly, or monthly. We file quarterly Form 941 with the IRS, submit Oregon payroll tax returns, and prepare year-end W-2 forms for employees and 1099 forms for independent contractors. The system tracks paid sick leave, vacation accruals, and benefit deductions automatically. We handle all compliance requirements so you avoid penalties while ensuring your employees get paid accurately every pay period.

An Individual Taxpayer Identification Number works like a Social Security number for tax purposes but serves people who cannot obtain an SSN. The IRS issues ITINs to non-resident business owners earning U.S. income, foreign investors in American companies, dependents of visa holders, and spouses of U.S. citizens filing joint tax returns. If you operate a business in the United States without a Social Security number, you need an ITIN to file tax returns, comply with IRS requirements, and open business bank accounts. Progreso Tax specializes in ITIN applications and renewals. We prepare the required documentation, certify your identity documents, and submit your application to ensure approval without unnecessary delays or rejections.