Financial Accounting Services

What Financial Accounting Services does

Financial Accounting Services, Inc. (FAS) is a privately-held professional services firm founded in 1995 by Fred Karma, headquartered in Temecula, California, with a second office in La Jolla (San Diego). The firm delivers a unified suite of tax, financial planning, payroll, and bookkeeping services to small-to-mid-size business owners and individuals. Its core service lines include tax planning and preparation (personal, corporate, sales tax, and audit relief), corporate tax and business advice, financial planning covering retirement, education, estate, and debt management, payroll processing under the Karma Payroll sub-brand, and monthly/quarterly/annual bookkeeping. Investment management and wealth advisory services are delivered through a partnership with TCG Advisory Services LLC, an SEC-registered investment advisor, allowing FAS to offer wealth management without holding its own RIA registration. The firm also offers FAST Tax, a streamlined electronic tax preparation service for qualifying individual filers, accessed via an online eligibility questionnaire.

The firm's underlying technology stack is conventional for a regional accounting practice: tax preparation and financial planning software, Intuit QuickBooks (Pro-Advisor certified), and standard client-engagement tools (phone, email, and website consultation forms). There is no proprietary technology platform, no mobile app, and no documented API or integration ecosystem. The team of fewer than 10 employees holds a dense concentration of regulated credentials — two Enrolled Agents (federally licensed to practice before the IRS), three CTEC professionals, two CFP® professionals, and a CFA — supported by administrative and operations staff.

FAS operates a sales-led go-to-market model built around free initial consultations, delivered in-person at its two California offices, by phone, or by email. The revenue model is primarily fee-for-service across tax preparation, financial planning, and bookkeeping, with a recurring subscription element through Karma Payroll's flat monthly fee structure. Customer acquisition relies on a combination of referrals, long-tenured client relationships (testimonials document 10-14 year engagements), local social media presence (Facebook, Instagram, Yelp, LinkedIn), and content marketing through the firm website. Pricing is not publicly disclosed; services are quote-based with the exception of payroll, which is published as a flat monthly fee. The company is founder-operated, has no external funding, and reports no parent company or subsidiary structure beyond the Karma Payroll sub-brand.

Name

Financial Accounting Services

Legal name

Financial Accounting Services, Inc.

Website

https://taxmanfred.com

Company type

Private

Founded year

1995

Operating status

Operating

Headcount range

1–10 employees

Short description

Financial Accounting Services is a privately-held, founder-operated tax, financial planning, payroll, and bookkeeping firm founded in 1995 in Temecula, California, with a second office in La Jolla, serving small-to-mid-size business owners and individuals across Southern California.

Ownership category

akta.pro rank

Product category

Tax Preparation and Financial Planning Services

NAICS

Accounting, Tax Preparation, Bookkeeping, and Payroll Services (54121), Other Accounting Services (541219)

akta.pro primary industry

Comprehensive Financial Planning (FSAEAAAA)

akta.pro secondary industry

Tax-Aware Investment Planning (FSAEAAAE)

Keywords

• Tax preparation services
• Financial planning services
• Payroll processing
• Bookkeeping services
• Small business tax advisory

Headquarters

HQ city

Temecula

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Tax Planning and Preparation Services: Professional tax planning, preparation, and filing services for individuals and businesses. Includes corporate tax, personal income tax, sales tax preparation, and tax audit relief.
2. Financial Planning Services: Wealth management, retirement planning, education expense planning, debt management, and estate planning services offered through TCG Advisory Services LLC.
3. Payroll Services: Payroll processing services offered through Karma Payroll brand, including check printing, direct deposit, tax filings, and compliance services. Flat monthly fee structure.
4. Bookkeeping Services: Monthly, quarterly, and annual bookkeeping and financial reporting for individuals and businesses.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Financial Accounting Services is a full-service tax and financial planning firm that prepares personal and business tax returns, provides corporate tax planning and business advisory, and offers financial planning covering retirement, wealth management, debt, education, and estate planning. The firm also delivers payroll processing through its affiliated Karma Payroll brand and provides monthly, quarterly, and annual bookkeeping services to small/mid-size business owners and individuals across Southern California.

Product overview

Financial Accounting Services is a full-service tax and financial planning firm offering a unified suite of professional services. The core offerings include Tax Planning + Preparation (including business and personal tax planning, income tax preparation, and audit relief), Corporate Tax + Business Advice, Financial Planning (covering retirement, wealth management, estate planning), Payroll Services through Karma Payroll, and Bookkeeping. The firm also provides an Info + Resource Center with tools and forms, and a FAST Tax service for streamlined electronic tax preparation. These services work together as an integrated financial planning approach, combining tax compliance, wealth management, and wealth protection for business owners and individuals.

Differentiator

Problem solved

Functional benefit

Brands

• Karma Payroll: Professional payroll services including check printing, direct deposit, tax filings, and complete compliance services. Operated as a separate entity with its own website (karmapayroll.com).
• FAST Tax

Products and services

• Tax Planning + Preparation Tax planning and preparation services including business and personal tax planning, individual and corporate income tax preparation, sales tax preparation, and tax audit relief for business owners and individuals.
• Corporate Tax + Business Advice Corporate tax planning and business advisory services designed to offset accounting costs through annual tax savings and ensure quarterly corporate tax deadline compliance for small and mid-size businesses.
• Financial Planning Financial planning services covering retirement savings, wealth management and protection, debt management, education expense planning, and estate planning delivered to individuals and business owners through a partnership with SEC-registered TCG Advisory Services LLC.
• Payroll Services (Karma Payroll) Payroll processing services including check printing, direct deposit, tax filings, and full payroll compliance, delivered through the affiliated Karma Payroll brand on a flat monthly fee basis with no hidden charges for small and mid-size business clients.
• Bookkeeping Monthly, quarterly, and annual bookkeeping and financial reporting services with succession planning and advanced strategic planning to help business owners focus on growth and success.
• FAST Tax Simplified electronic tax preparation service for qualifying individuals with straightforward tax situations, using an eligibility questionnaire and streamlined virtual return processing.

Quantifiable outcome

• 28+ years of tax and financial planning experience since 1995
• +1 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Two partnerships are on record, tiered core.

• TCG Advisory Services LLCcoreStrategic or Co-development PartnerFinancial planning and investment management services are offered through TCG Advisory Services LLC, a SEC-registered investment advisor regulated by the Investment Advisor Act of 1940. TCG Advisors is part of TCG Group Holdings, LLP with main corporate offices in Austin, Texas. The partnership allows FAS to offer comprehensive wealth management services to clients.
• Karma PayrollcoreChannel Partner/ Reseller/ DistributorSeparate brand operated by the same ownership/founders offering payroll processing services. References to Karma Payroll appear throughout the FAS website, with dedicated navigation to karmapayroll.com. Offers flat monthly fee payroll services with no hidden charges.

Scale indicators2 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Bookkeeper.com: Virtual bookkeeping and small business accounting services firm offering monthly bookkeeping, payroll, and tax support to SMB clients. Directly comparable to FAS's bookkeeping and small business tax offerings, delivered remotely versus FAS's local in-person model.
• Pilot: Outsourced bookkeeping, tax, and CFO services for startups and small businesses. Comparable to FAS's bookkeeping and small business tax offerings; targets a slightly different client segment (tech/startup SMBs) but overlaps on the book-to-tax integration value proposition.
• Padgett Business Services: Franchise of independent accounting and payroll services firms serving small businesses across North America, offering bookkeeping, payroll, tax, and advisory services. Closest in business model to FAS—an owner-operated multi-service accounting practice for SMBs—but distributed nationally through franchise locations.
• 1-800Accountant: Virtual-first accounting and tax services firm serving small businesses and individuals nationwide with on-demand CPA and EA support. Most directly comparable to FAS's integrated tax + bookkeeping + advisory model, but delivered remotely and at greater scale rather than through local offices.
• Bench Accounting: Tech-enabled bookkeeping service for small businesses bundled with tax preparation and financial reporting. Overlaps directly with FAS's monthly bookkeeping service line for SMB clients, though offered through proprietary software and a centralized delivery model.

Broad incumbents

• Paychex: Major national payroll, HR, and benefits administration provider serving hundreds of thousands of SMBs. Comparable to FAS's Karma Payroll subscription line on payroll processing, though delivered at enterprise scale as a SaaS platform rather than as a small-firm service.
• H&R Block: National tax preparation retail chain offering individual and small business tax filing, with DIY software and assisted preparation. Comparable as a direct competitor for individual tax preparation services—FAS's own testimonials reference clients who left H&R Block—though it operates at vastly larger scale and as a retail network rather than a relationship-based advisory firm.
• Insperity: Provider of HR outsourcing, payroll, benefits, and workforce management for small and mid-size businesses. Comparable to FAS in bundling payroll with adjacent business services for SMBs, but operating at much larger scale with a co-employment PEO model rather than as a single local firm.
• Liberty Tax Service: Franchised retail tax preparation chain serving individuals and small businesses across the U.S. Operates in the same assisted tax preparation category as FAS, though distributed through franchise locations rather than as a single local firm with multi-service offerings.
• Jackson Hewitt Tax Service: National tax preparation chain operating through franchised retail offices serving individual taxpayers and small businesses. Direct competitor in the assisted tax preparation segment where FAS operates; comparable services include individual return preparation with audit support and small business filings.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/FASLaJolla
• LinkedInlinkedin.com/company/financial-accounting-services
• Instagraminstagram.com/fas_temecula

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Financial Accounting Services