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High Velocity AccountingHigh Velocity Accounting

Home services accounting

Individual Tax Services in Clovis, CA

Owner returns built around your K-1, the distributions you took like a paycheck, and the truck and home office you use every day, prepared by the same team that keeps your company's books.

Built for HVAC, plumbing, electrical, and mechanical contractors running trucks, techs, and service agreements out of QuickBooks Online, ServiceTitan, and Housecall Pro.

Schedule Your Free Strategy Call(559) 203-3450

What sends contractors looking for this

My K-1 shows a number nobody explained to me

Every March your K-1 arrives with a taxable income figure that has nothing to do with what actually landed in your checking account. You took distributions all year like a paycheck, covered the mortgage and the truck payment with them, and now the K-1 says you owe tax on income you already spent building the business or paying down debt. Nobody sat down with you in July or October to explain that the two numbers were never going to match.

A preparer who only meets you once a year in April is reading the K-1 after the fact instead of helping you plan around it while there's still time to adjust withholding, set money aside, or make a retirement contribution before December 31. By filing season the only thing left to do is report what already happened.

Owners who never reconcile distributions against K-1 income routinely find a five-figure balance due in April with no cash set aside to cover it, on top of an underpayment penalty the IRS charges quarter by quarter for not paying as the income was earned.

I've been taking distributions all year and didn't set anything aside for taxes

Distributions from your S corp aren't payroll, so nothing is withheld when you move money from the business account to your personal account to cover the mortgage, a truck payment, or a slow month. Most owners treat that transfer like a paycheck and never separate out the 25 to 35 percent that eventually belongs to the IRS and the state.

By the time the return is prepared, that money is already spent on materials, a new service van, or payroll during a slow stretch, and there's no reserve left to draw the tax payment from. The business had a good year on paper, but the cash to cover the resulting tax bill is gone.

An owner who takes 150,000 dollars in distributions without setting aside a percentage for taxes can face a 35,000 to 45,000 dollar balance due in April, plus an underpayment penalty, with no cash left in the business or personal accounts to pay it.

I got an IRS or state notice and I don't know if it's serious

IRS and state notices range from a routine math-error correction to a proposed assessment triggered by an automated program that matches your return against every W-2, 1099, and 1098 filed under your Social Security number, including the ones tied to your S corp and any rental property. Most owners open the letter, feel a jolt of dread, and either ignore it or write a check for whatever number is printed on the page.

Notices carry a response deadline, usually 30 or 60 days, and missing it can turn a disputable proposed adjustment into a final assessment that's far harder and more expensive to unwind. Reading it correctly means knowing which code section it cites and which of your business or personal records actually resolves it.

Letting a notice pass its deadline lets the IRS finalize the assessment, start adding failure-to-pay penalties and daily compounding interest, and eventually move toward a levy on your business bank account, while a timely documented response often closes the same notice with no additional tax owed.

I bought a rental with money the business made, and now I'm not sure how it all fits together

Taking a strong year in the shop and putting the profit into a rental property, a second truck, or land for a future yard changes your return in ways a simple W-2 filer never has to think about. Depreciation, passive activity loss limits, and how the rental interacts with your S corp income all have to be tracked correctly from the first year or the numbers carry forward wrong for as long as you own the property.

The same complexity shows up when a spouse goes on payroll to help run the office, when the kids start doing real work for the business and get a paycheck, or when a retirement contribution needs to be sized to a year that was better than usual. Each of these decisions has a deadline and a set of rules a generalist preparer who mostly handles W-2 returns is not built to catch.

A rental purchased with contracting profits but set up with the wrong depreciation method, or a spouse or kid paid off the books instead of through payroll, can each cost several thousand dollars a year in lost deductions and payroll tax savings, money that's gone for good once the filing deadline for that year passes.

I mix my truck and my home office between the business and my life, and I'm worried it's a problem

The truck that hauls your tools to a job site on Monday is the same truck that takes the kids to practice on Saturday, and the desk where you do the books at night is in a spare bedroom you also use for guests twice a year. Both are legitimate business expenses, but both are exactly the kind of mixed-use item an examiner looks at first, and vague mileage logs or a home office that doesn't meet the exclusive-use test turn a routine deduction into an audit finding.

Handling that scrutiny alone means explaining your truck usage and home office setup directly to an examiner who reviews these exact deductions every day, without anyone organizing the mileage log, calendar, or floor plan that actually supports what you claimed.

A disallowed vehicle or home office deduction from a poorly documented audit typically comes with an accuracy-related penalty of 20 percent of the underpayment on top of the additional tax and interest, turning one soft deduction into a bill that runs into the thousands.

How we fix each of those

  1. 01

    Planning meetings tied to your K-1, not just your April return

    We schedule a mid-year and a year-end planning conversation that starts with your K-1 projection, pulled from the same books we keep in QuickBooks, and walks through what distributions you've taken, what's still owed, and what retirement or estimated payment moves need to happen before December 31. You see the number before it becomes a surprise.

  2. 02

    A distribution-to-tax-reserve plan built around your actual draws

    We calculate a percentage of every distribution you take that should move to a separate tax savings account, sized to your S corp income and reasonable compensation, and review it each quarter as the year's numbers change. You always know what's actually yours to spend and what belongs to the IRS.

  3. 03

    Notice review and response within your deadline window

    When a notice arrives, we read the specific code section it cites, compare it against your S corp return, payroll records, and personal filing, and draft a response before the 30- or 60-day deadline passes. Most notices we handle for owners resolve with no change because the response is documented and on time.

  4. 04

    Rental, spouse-on-payroll, and family payroll set up correctly from day one

    We set up depreciation and passive loss tracking correctly the year you buy the rental, run payroll for a spouse or kids through the same system as your other employees so it holds up if questioned, and size retirement contributions to a strong year while there's still time to make them before December 31.

  5. 05

    Documentation that holds up if the truck or home office gets questioned

    We help you keep a mileage log and a home office record that actually meets the IRS standard before filing season, not after a notice arrives, and if you're audited we handle the examiner correspondence directly and present the documentation that supports the deduction you claimed.

Everything included

  • Federal and state personal return preparation built around your K-1 and S corp income
  • Mid-year and year-end planning meetings tied to distributions and reasonable compensation
  • Distribution-to-tax-reserve calculation so you know what to set aside from every draw
  • Spouse and family payroll setup that holds up if the IRS asks questions
  • Rental property depreciation and passive loss tracking when contracting profits buy the property
  • IRS and state notice review and response drafting
  • Audit representation for vehicle, home office, and mixed-use deductions
  • Retirement contribution timing sized to a strong year
  • Withholding and quarterly estimate adjustments tied to seasonal cash flow
  • Prior-year return review for missed deductions tied to the business

Inside Individual Tax Services

Individual Tax Preparation

A carefully reviewed return that accounts for your K-1, your truck, your home office, and the distributions you already took, filed on time with every deduction you're entitled to actually claimed.

View Individual Tax Preparation

Individual Tax Planning

A year-round conversation about your K-1, your distributions, and the moves that need to happen before December 31, not a once-a-year filing appointment.

View Individual Tax Planning

Self-Employed Tax Services

Clear guidance on what to set aside from every draw, what your truck and home office actually let you deduct, and when your payments are due.

View Self-Employed Tax Services

Contractors who have already done this

Real Google reviews from owners we work with, next to the engagements behind the numbers.

  • Google review

    Brett Neal has been our family's accountant for over six years now, because he is the most dependable professional in this business. We started with Brett as two separate single-filers with simple W-2's and quickly graduated to a married couple having multiple types of complicated business/tax filings. Brett took every shift in stride; every transition has been carried out smoothly and without any hiccups. Trust that this is the guy for all your filing, bookkeeping, and financial consulting needs.

    Alyssa Cotrina

    Business Owner, Trades

    Clovis, CA

  • Case study

    How a Construction Company Cleaned Up Two Years of Books and Financed New Equipment

    Construction · $2.8M - $4.1M annual revenue

    Books brought current
    22 months
    Equipment loan approved
    $680,000
    Read the full breakdown

  • Google review

    As a home services company, I feel that High Velocity Accounting has elevated our business to the next level. We are able to dig deeper into our numbers, report accurately and make adjustments where needed. They are very responsive, detail oriented and an extension of our team.

    Cathleen Helin

    Owner, Home Services

    Clovis, CA

  • Google review

    I have been so genuinely pleased with High Velocity Accounting's services. I feel I have an extension of our team in Brett and his team. They always make time for my questions and look for strategic ways to build our businesses mutually. I rest easy knowing our books are kept in good order and our taxes are prepared professionally. I never hesitate to recommend this firm to any service business owners looking for professional book keeping and tax services.

    Texas Medley

    Owner, Service Contracting

    Clovis, CA

  • Google review

    We have been using High Velocity Accounting for a couple years now and are so thankful for their service! They are meticulous, thorough, dependable and always ready to deal with a curveball. Kind, patient, gracious. Thank you for your service and the relationship we've developed together.

    Grant Schoenberger

    Client, Trades

    Clovis, CA

Where we do this work

Our office is in Clovis and we work with home services contractors across the Central Valley and nationwide. Pick your city to see how individual tax services works for shops in that market.

Not on the list? We run every engagement over QuickBooks Online, ServiceTitan, and Housecall Pro, so distance does not change the work. Call (559) 203-3450.

Talk to a CPA who will actually pick up the phone

Start with a 30-minute consultation at no cost. You will leave it knowing what the work involves, what it costs, and what happens next.

Schedule Your Free Strategy Call(559) 203-3450