Mid-South Professional Services

Mid-South Professional Services With Bookkeeping at our roots, we've grown into all areas of Professional Services... But it’s not just businesses who benefit from financial planning services.

3 Reasons to Trust Mid-South Professional Services With Your Financial Planning

1. You can count on us for financial help across the spectrum

The key to running a successful business is to be very good with money – or to employ a very good financial planner who’s got your back. Anyone with an income can make and save more money with the help of a smart accountant. That’s why Mid-South Profession

al Services is here for you, whether you need help structuring your business spending or just want to save more of your hard-earned money. If you live in the Cordova, TN area, financial services are right around the corner. Even if you’re out-of-state, we can help with all your income-related needs. Call Mid-South Professional Services today for help with:

• Financial reporting
• Bookkeeping services
• Tax services
• Financial and business planning
• Computers, software and training

2. Folks have relied on our Corodva, TN advisors since 1999

For decades, small business owners and individuals in Cordova, TN have come to Mid-South Professional Services seeking financial services. Our IRS-enrolled tax agents are here for you during tax season or any other time of the year. Don’t procrastinate. Call Mid-South today!

3. You’ll learn from us with our financial software training

There’s truth to the old saying “Give a man a fish and you’ll feed him for a day, but teach a man to fish and you’ll feed him for a lifetime.” You don’t have to depend on us for your everyday bookkeeping needs. Let us teach you and your employees how to use financial software so you can become more financially self-sufficient. Enroll yourself or a member of your staff in our financial software training class today and you’ll be eligible for a discounted rate on QuickBooks software.

Two commonly misunderstood tax terms are deductions and credits. What’s the difference? Deductions reduce the amount of ...
08/29/2025

Two commonly misunderstood tax terms are deductions and credits. What’s the difference? Deductions reduce the amount of a taxpayer’s income before tax is calculated. For example, on your individual return, you can take the standard deduction or itemize deductions depending on which strategy will most reduce your taxable income. Credits, on the other hand, reduce the actual tax due, dollar-for-dollar, generally making them more valuable than deductions. Certain credits, such as the Child Tax Credit, are partially or fully refundable. This means that if a taxpayer’s bill is less than the amount of the credit, he or she may receive the difference as a refund. Contact us at (901) 757-1233 with your tax questions.

You’re never too young to start planning for retirement. We can help you juggle multiple financial goals, including savi...
08/27/2025

You’re never too young to start planning for retirement. We can help you juggle multiple financial goals, including saving for a home, your children’s education and a secure retirement. Contact us at (901) 757-1233 to discuss tax-advantaged retirement plans as well as other investment opportunities, income tax-reduction strategies and risk-mitigation measures (such as insurance). On the other hand, are you getting a late start? We have tips for making and reaching aggressive retirement savings goals.

Worried about market volatility and losses in your portfolio? Remember, losses aren’t truly losses until they’re realize...
08/26/2025

Worried about market volatility and losses in your portfolio? Remember, losses aren’t truly losses until they’re realized; in other words, until you sell an investment for less than what you paid for it. If you hold on to the investment, it might recover. But if you do decide to sell, know that realized losses have a silver lining: They can offset realized capital gains. So if you’re sitting on appreciated assets, this could help you divest tax efficiently. Call us at (901) 757-1233 for more information. (Also, keep in mind that there are important factors to consider besides taxes.)

Probate can be expensive and significantly delay the distribution of assets to your loved ones. But you can sidestep it ...
08/25/2025

Probate can be expensive and significantly delay the distribution of assets to your loved ones. But you can sidestep it on your bank, brokerage and other eligible accounts by converting them to payable-on-death (POD) accounts. How? Simply complete a POD designation form naming one or more beneficiaries. At your death, the financial institution will transfer any balance directly to the named beneficiaries, outside of probate and usually within a few days of receiving a death certificate. Looking for more ways to reduce expenses and achieve your estate planning goals? Call us at (901) 757-1233.

Are you betting money on professional or college sports? If so, you aren’t alone. According to the IRS, billions of doll...
08/22/2025

Are you betting money on professional or college sports? If so, you aren’t alone. According to the IRS, billions of dollars are bet by “casual gamblers,” who aren’t in the business of wagering. If you win, congratulations. Not to rain on your parade, but Uncle Sam generally wants his share. You might receive a Form W-2G (Certain Gambling Winnings) depending on what you bet on and how much you win. All winnings must be reported on your tax return. You have until next year to report the money you win in 2025. You may need to pay estimated tax on the additional income. Contact us at (901) 757-1233 with questions.

Thinking about saving for a child’s education? A Section 529 plan is a tax-advantaged option. There are two types: savin...
08/20/2025

Thinking about saving for a child’s education? A Section 529 plan is a tax-advantaged option. There are two types: savings plans and prepaid tuition plans. The right plan for you depends on factors such as your financial goals, where the child might attend school, and what costs you want to cover. Let’s review your options together. Call us at (901) 757-1233.

As a business owner, you’ve likely experienced moments when a big decision lay solely on your shoulders. But here’s the ...
08/19/2025

As a business owner, you’ve likely experienced moments when a big decision lay solely on your shoulders. But here’s the thing: You don’t have to go it alone. We can help you identify your business’s biggest challenges and find solutions for them. Call us today at (901) 757-1233 to schedule a consultation.

We offer business tax services, including strategy, compliance and return preparation. From quarterly filings to year-en...
08/18/2025

We offer business tax services, including strategy, compliance and return preparation. From quarterly filings to year-end planning, we help minimize liabilities and maximize tax breaks — so you can stay focused on growing your business. Whether you’re a sole proprietor, C corporation, S corporation, partnership or LLC, let us simplify taxes for you. Contact us at (901) 757-1233.

The IRS is warning of an increase in scams targeting older adults. These scams are designed to deceive or scare vulnerab...
08/15/2025

The IRS is warning of an increase in scams targeting older adults. These scams are designed to deceive or scare vulnerable individuals into paying fake penalties, ransoms or revealing personal information. Tactics range from bogus prize notifications to impersonating IRS agents, police or other government officials. Scammers typically make contact via phone, text or email, often with a false sense of urgency. As part of the World Elder Abuse Awareness Day, the IRS recently expanded its efforts to help seniors identify red flags and avoid becoming victims. Contact us at (901) 757-1233 if you’re unsure if a message is legitimate. To learn more about these threats and how to protect yourself or a loved one, visit the IRS here: https://bit.ly/3Xrj66J

Better business decisions start with better data, and accrual-basis accounting can be a game-changer! This bookkeeping m...
08/13/2025

Better business decisions start with better data, and accrual-basis accounting can be a game-changer! This bookkeeping method recognizes income when it’s earned and expenses when they’re incurred, not necessarily when cash changes hands. It gives you a true picture of profitability, cash flow timing and operational performance. As your business grows, accrual accounting facilitates budgeting, financial planning and loan approvals. Contact us at (901) 757-1233 to learn more and ensure your books support smart decision-making.

Did you know the IRS can hold you PERSONALLY liable for the unpaid payroll taxes of your business? The Trust Fund Recove...
08/12/2025

Did you know the IRS can hold you PERSONALLY liable for the unpaid payroll taxes of your business? The Trust Fund Recovery Penalty (TFRP) targets business owners and responsible parties who willfully fail to remit payroll taxes withheld from employees. Even if the business is struggling, the IRS doesn’t take missed payments lightly. The financial consequences can be severe. If you've received a TFRP notice or are concerned about payroll tax compliance, don’t wait. We help you understand your rights and build a strong defense. Act now before penalties escalate. Contact us at (901) 757-1233.

Mergers and acquisitions are often rife with pitfalls that can undermine a buyer’s return on investment or strategic goa...
08/11/2025

Mergers and acquisitions are often rife with pitfalls that can undermine a buyer’s return on investment or strategic goals. The best way to avoid getting tripped up is thorough due diligence that includes a comprehensive business valuation. It can identify much more than just whether the deal price accurately reflects the company’s value. Contact us at (901) 757-1233 with your M&A questions.

Address

780 Walnut Knoll Lane, Ste 5
Cordova, TN
38018

Opening Hours

Monday 8am - 5pm
Tuesday 8am - 5pm
Wednesday 8am - 5pm
Thursday 8am - 5pm
Friday 8am - 5pm

Telephone

+19017571233

Website

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