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Accounting Done For You And Made Easy

As a small business owner, you have a limited amount of time to accomplish all the things that need to be done.  With that being the case, why in the world would you squander this precious time doing bookkeeping, accounting and other finance related tasks?

The most efficient use of your time should be focused on customer service, marketing and improving your processes.  These are the specialties of your business and the areas that can help you to grow and become more profitable.

All successful small businesses know that time equals money, and the more time spent on the business, the more profits that are generated.  This is only true of profit generating activities though, and bookkeeping and accounting do not generate profits.

Rather than spend your time on profitless and boring activities, let the professionals handle the accounting while you skyrocket your sales!

Our professional accountants can go over your ledgers and books on a monthly or quarterly basis, depending on your needs and the size and scope of your business, to take care of all the following tasks:

Basic Bank Account Reconciliation: We will review all your bank statements to find lost payments, checks and deposits and can also identify unauthorized wire transfers that could be draining your accounts.

Our services help to identify and stop any potential embezzlement of funds from your business.  We protect you from bank errors, fraud and other financially related crimes that can cripple your business.

Finally, we help you to manage your cash resources effectively while tracking your business growth and recommending ways to increase that growth.

Income and Expense Statements:  We will create regular P&L statements that provide you with an easy to see snapshot of the costs associated with running your business.

Our service will help to identify areas of your business on which you are over spending as well as those that are growing rapidly and could benefit from additional budget.  We will show you the current trends in your product sales and returns to help maximize your inventory usage.

Finally, we can put all of these together to give you a current and ongoing picture of your tax liability.

Balance Sheets:  Combined with P&L statements the balance sheet is the most important report used by investors and lenders to determine the viability of lending to your business or investing capital in your projects.

An updated balance sheet will let you know about the health of your business at any given point in time, allowing you to correct imbalances before they get out of hand.

Through analyzing the balance sheet you can identify trends in your payables and receivables, thus allowing you to take a proactive stance towards maximizing the positive trends and minimizing the negative trends.
Ledger Management:  If you don’t already have a complete and accurate general ledger system we will set one up for you to ensure that you are keeping accurate records for your business.  If you already have a general ledger set up, we can review it to ensure it is complete and does not contain any discrepancies or errors.

We will provide your business with unlimited consultations so you know that every piece of your business accounting puzzle is being taken care of in an effective and efficient manner.

If you require additional services, we can customize our accounting services by offering you the following:

• Payroll management services
• Tax planning and preparation services
• Any other financial services you might require to ensure your business runs well and maximizes your profits

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Start A Business Smoothly – Know The Simple Steps For Starting Your Business Right

When people think of American pastimes, they often turn to thoughts of apple pie and baseball. Those two things are certainly all-American, but there is something else that should be added to the list – starting a new business.

If you are interested in owning a business, and you want to ensure that it succeeds beyond your desires and thrills, you will need to take time to craft a comprehensive business plan. It is also highly important for you to gather all of the pertinent information necessary to have ready when you start your endeavor.

We are able to assist you so that you avoid turning yourself into just another statistic of a failed business.

When you use our help, you will be able to identify and steer clear of the many common mistakes made by people who are new to owning a business.

We will help you put together a business plan which will be successful, plus we can give you the appropriate services of financial management to meet your needs.

There are some important steps that need to be taken if you want to get your business started on the right foot. These include:

• Preparing a comprehensive and intelligent business plan
• Determining your initial needs for capital
• Identifying the resources you have immediately available
• Identifying your potential sources of start-up capital as well as your capacity to borrow
• Reviewing potential business structures for purposes of possible tax advantages
• Determining the proper structure in terms of portability in the event of possible future relocation
• Planning for the proper financial management of your business by choosing the right computer software for accounting purposes
• Obtaining the appropriate hardware to run the selected software
• Understanding the pertinent components of a so-called Cash Flow Projection
• Developing a Cash Flow Projection that covers each month of your business’ operations for at least one year
• Learning about the superior billing and collection methods in order to get the most out of your cash flow
• Researching and understanding laws related to employment so you can be prepared properly to comply from day one
• Considering a home office location which will allow you to maximize tax deductions
• Preparing and filing for all pertinent local and state permits, licenses and other documents
• Obtaining a Federal Employer Identification Number
• Setting up payroll services and tax filing methods with your initial employee
• Identifying any needs for business insurance
• Developing a Partnership Agreement which, when put into writing, saves you a significant amount of future pain and headaches. It also helps you to avoid anything which could be detrimental to your business in the years to come.

Do not allow this comprehensive list to overwhelm your dreams and desires to start your own business. The services we provide were designed with people like you – small business owners – in mind. Though the list may contain a number of points, breaking it down piece by piece will help you to ensure that your endeavor is started successfully.

Following this list and using the resources provided by us can help you to ensure that your business succeeds. Doing it all by yourself may be appealing, but you will probably regret not asking for help when you run into problems in the future.

Give us a call so you can get your business started the right way, right from the start, right now!

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“Hassle Free” QuickBooks Setup

Although QuickBooks is one of the more user-friendly applications in the accounting software market, it is software none-the-less, which can be intimidating to those who work in offices that are not directly connected to information technology fields.

Sure, anyone can download the software and start the process, but we have encountered a number of offices who prefer a professional set up the application, and import their information first, followed by a brief tutorial on the basic operation later.

Our expertise in the accounting field allows us to survey the current files, and integrate them into the new model, negotiating any hiccups along the way. The result is a seamless integration of our clients’ bookkeeping technology, which will allow them to print a check in a pinch, in the middle of our transition.

In addition, their manpower can stay where it belongs, which is focused on the company’s business, not its software and accounting measures.

Our professional QuickBooks setup process is quick and accurate, not hurried and flawed, which insures all of your transactions, accounting codes and financial data transfers flawlessly on the first attempt.

Once our technician has accurately transferred your records, he or she will provide exceptional training to whomever you charge with the accounting process.

Not only is the software easy to use, but our technicians are trained to educate your employees on the new system, providing a step by step tutorial that allows for complete and immediate understanding, without overwhelming the user.

Our goal in setting up your QuickBooks software is to save your company time, while alleviating any confusion or misunderstanding in terms, so the transition is seamless, and operating at its optimal ability the moment we leave your office.

Our technicians will provide the following services, with complete professionalism, and friendly decorum.

• Setup of your QuickBooks software to fit your business’s needs, based on the existing technology, charts of accounts, and accounting type
• Transfer balances, outstanding accounts receivable and payable beginning at a specific start date that is determined through our communications
• Setup all accounts to maintain proper entries in the form of services, inventory items, non-inventory items, expenses, sales tax and miscellaneous charges
• Input all transactions beginning with the determined start date of the QuickBooks transition
• Educate the individuals indicated through our communications on the use of the software, accounting technology, and financial wherewithal that QuickBooks provides
• Provide additional training at a later date, to train new employees or to reinforce the initial process, to insure the software is working optimally for your company
• Assume the duties of reviewing your financial information monthly, quarterly or annually, to insure the accounts and codes are being used properly, preparing your files accurately for tax reviews
• Manage reports to indicate where the business is growing, or possibly losing money, to assist in the overall management of the company’s finances

We help our clients get the most out of their QuickBooks software, which allows them to concentrate on new business, or existing clients, instead of their accounting features.

Contact us today via phone at 1(954) 452-8813 or through our email form, and one of our technicians will contact you to determine how we can help get your company’s accounting functions running seamlessly.

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Tax Planning For Big Savings

In an effort to decrease your IRS liability, we have established a proven solution to counter large tax bills.

With so many changes in the tax laws each year, our professional staff has extensive training in identifying the differentiation in the complexity of tax codes.

As the tax codes increase, or change from their previous properties, our team keeps up with their movements, so you do not have to.
Staying on top of the extensive changes the IRS implements year after year allows us to provide our clients with up-to-the-minute information, insuring they receive all of the tax benefits their company is eligible for, without missing a single deduction.

Our clients enjoy our knowledge come tax time, because our wherewithal in the tax field translates to savings on their behalf, affording them the lowest tax liability allowed by the current laws. We can do the same for your company, too!

Just a few examples of how we help your company succeed financially are:

• Transferring your company status to a lesser tax bracket by dividing your income between separate legal entities, and/or family members
• Appropriate expenses and/or income to contrasting annual allocations, effectively taking advantage of lower rates
• Divert funds to investment opportunities to defer the tax liability
• Review investment opportunities locally, statewide and nationally to insure complicity and avoid liabilities
• Apply deductions through entertainment, as allowed by law, decreasing your liability

Additional Tax Assistance We Can Provide:

• Enjoyment of assets, through savings and growth opportunities
• Implement tax reducing investments, allowing your money to increase more rapidly
• Saving revenue by decreasing your taxable income
• Implement a pay later functionality by deferring income status
• Clear and reliable advice on estate planning and the correlating taxes, providing your family with financial health
• Allocation of funds to family members, optimizing tax benefits through gifting
• Design your retirement to retain your hard-earned money, instead of giving it to the IRS

Our clients enjoy our extensive knowledge, and our close relationships within the IRS, which allows us to understand the tax codes from the inside out, insuring they receive the maximum legal benefits allowed by the law.

With our help, our clients are able to lessen their tax burden, no matter how frequently they pay their taxes, whether it is monthly, quarterly or yearly, which gives them peace of mind, and the ability to concentrate on growing their business, without worrying about IRS involvement.

We are aware that anyone can do their own taxes, but we are also aware that when it comes to dealing with an intimidating arm of the government like the IRS, our clients are better off leaving their accounting to the professionals.

We enjoy a close partnership with our clients, to insure we fully understand how their business operates, which allows us to enlighten them on the difference between and expense and a complete deduction opportunity.

We can provide professional advice that allows our clients to spend more money through their companies, giving them the maximum number of deductions as a result.

The more deductions and money saving opportunities we can present, the less the tax burden becomes when the IRS comes knocking. Call us today to find out what we can do for your company, and we will get started immediately.

It is never too early to insure your deductions are in order, and we can help as soon as you call.

Fresh Start Program

IR-2012-53, May 21, 2012

WASHINGTON — The Internal Revenue Service today announced another expansion of its “Fresh Start” initiative by offering more flexible terms to its Offer in Compromise (OIC) program that will enable some of the most financially distressed taxpayers to clear up their tax problems and in many cases more quickly than in the past.

Today’s announcement focuses on the financial analysis used to determine which taxpayers qualify for an OIC. This announcement also enables some taxpayers to resolve their tax problems in as little as two years compared to four or five years in the past.

In certain circumstances, the changes announced today include:

• Revising the calculation for the taxpayer’s future income.
• Allowing taxpayers to repay their student loans.
• Allowing taxpayers to pay state and local delinquent taxes.
• Expanding the Allowable Living Expense allowance category and amount.

In general, an OIC is an agreement between a taxpayer and the IRS that settles the taxpayer’s tax liabilities for less than the full amount owed. An OIC is generally not accepted if the IRS believes the liability can be paid in full as a lump sum or a through payment agreement. The IRS looks at the taxpayer’s income and assets to make a determination of the taxpayer’s reasonable collection potential. OICs are subject to acceptance on legal requirements.

The IRS recognizes that many taxpayers are still struggling to pay their bills so the agency has been working to put in place common-sense changes to the OIC program to more closely reflect real-world situations.

When the IRS calculates a taxpayer’s reasonable collection potential, it will now look at only one year of future income for offers paid in five or fewer months, down from four years, and two years of future income for offers paid in six to 24 months, down from five years. All offers must be fully paid within 24 months of the date the offer is accepted.

Other changes to the program include narrowed parameters and clarification of when a dissipated asset will be included in the calculation of reasonable collection potential. In addition, equity in income producing assets generally will not be included in the calculation of reasonable collection potential for on-going businesses.

Allowable Living Expenses

The Allowable Living Expense standards are used in cases requiring financial analysis to determine a taxpayer’s ability to pay. The standard allowances provide consistency and fairness in collection determinations by incorporating average expenditures for basic necessities for citizens in similar geographic areas. These standards are used when evaluating installment agreement and offer in compromise requests.

The National Standard miscellaneous allowance has been expanded to include additional items. Taxpayers can use the miscellaneous allowance for expenses such as credit card payments and bank fees and charges.

Guidance has also been clarified to allow payments for loans guaranteed by the federal government for the taxpayer’s post-high school education. In addition, payments for delinquent state and local taxes may be allowed based on percentage basis of tax owed to the state and IRS.

This is another in a series of steps to help struggling taxpayers under the Fresh Start initiative.

In 2008, IRS announced lien relief for taxpayers trying to refinance or sell a home. The IRS added new flexibility for taxpayers facing payment or collection problems in 2009. The IRS made changes to lien policies in 2011 and expanded the threshold for small businesses to resolve tax issues through installment agreements. And, earlier this year, the IRS increased the threshold for a streamlined installment agreement allowing individual taxpayers to set up an installment agreement without providing a significant amount of financial information.