Wali Syed, CPA - Tax/Accounting

Certified public accountant in Valley Stream, NY (show on map)

4.8

★★★★★

16 reviews

Full-service accounting firm offering tax, accounting, financial statements, new business setup, payroll processing, and additional services.

Call (516) 800-7800

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About

Wali Syed, CPA is a full-service accounting firm catering to businesses and individuals. The firm offers comprehensive services including accounting solutions, tax services, financial statements preparation, new business setup assistance, payroll processing, and a range of additional services such as LLC taxation, quarterly estimated taxes, private equity fund accounting, M&A consulting, payroll & HR outsourcing, tax settlement offers, ITIN number assistance, retail accounting, forward-looking financials, insurance claim accounting, Excel consulting, CPA letters for apartment rental or home purchase, FEMA consulting, forensic accounting, valuation services, attestation services, review services, tax attorney representation, compilation, accounts receivable, accounts payable, bank office accounting, and real estate accounting.

The firm emphasizes personalized attention, cost-effective solutions, and proactive tax planning to maximize client savings and financial health.

Personalized attention and affordable prices

Proactive tax planning to maximize savings

Comprehensive range of specialized services

Commitment to transparency in financial reporting

Services

Accounting Solutions

Tailored accounting services including bookkeeping, payroll, record keeping, report filing, and more.

Payroll/Bookkeeping services Managing accounts payable Handling payroll functions Invoicing customers Reconciling bank accounts Preparing business tax reports Customized reporting

Tax Services

Comprehensive tax preparation and planning for businesses and individuals.

Income tax preparation (business & personal) Payroll tax, sales tax, highway use tax, RPIEs Tax savings strategies Life event tax impact guidance Earned Income Tax Credit (EITC) assistance Self-employed tax compliance

Financial Statements

Preparation and analysis of financial statements for business management.

Fully compiled, reviewed, or audited statements Monthly financial reporting for management decisions Ratio analysis and profitability tracking Use of statements for business management and growth

New Business Setup

Personalized assistance in setting up new businesses.

Consultation and goal alignment Deep dive into business operations Efficiency enhancements for revenue generation

Payroll Processing

Comprehensive payroll services including check preparation and tax filings.

Payroll check preparation Employee garnishment checks Recordkeeping reports Direct deposit and tax sweep options Quarterly tax deposit and filing W-2 processing

Additional Services

A wide range of specialized accounting and consulting services.

LLC taxation Quarterly estimated taxes Private equity fund accounting M&A consulting Payroll & HR outsourcing Tax settlement (Offer in Compromise) ITIN number assistance Retail accounting Forward-looking financials Insurance claim accounting Excel consulting CPA letter for real estate transactions FEMA consulting Forensic accounting Valuation services Attestation services Review services Tax attorney representation Compilation Accounts receivable Accounts payable Bank office accounting Real estate accounting

Credentials & Certifications

Certified Public Accountant (CPA)

Since Several years of experience

Senior Consultant for a Long Island CPA firm

Since Present

Owner of Waliuddin Syed, CPA P.C.

Since Present

Reviews

Rating

4.8

★★★★★

Reviews

"Wali Syed and his team have done my taxes several times."

Frequently Asked Questions

Do I need to file a Federal Income Tax Return even if my income is below the filing requirements? +

Yes, you should file a Federal Income Tax Return to receive any refund of withheld taxes, even if you are not required to file due to income level.

What life events can have a significant tax impact? +

Significant life events that may affect taxes include disasters or casualties, first-time home ownership, becoming a person with disabilities, moving, planning for retirement, bankruptcy, and changes in eligibility for the Earned Income Tax Credit (EITC).

What is the Earned Income Tax Credit (EITC) and who qualifies? +

The Earned Income Tax Credit (EITC) is a refundable federal tax credit for low-income working individuals and families, providing tax savings and incentives to work. Eligibility requires filing a tax return even if no tax is owed, and specific income and family size criteria.

What is the difference between a sole proprietor and an independent contractor? +

A sole proprietor is an individual who owns and operates a business independently, while an independent contractor performs services for a client with limited control over the method of work, often receiving an invoice for services rendered.

Do I need a taxpayer identification number for my business? +

Generally, you need a taxpayer identification number, usually your Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN), to operate your business. If you have employees, you will need an Employer Identification Number (EIN).