Category: Accounting
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AICPA praises small accounting firms
The American Institute of Certified Public Accountants published an article praising small CPA firms: “small firms serve their clients in ways that often go beyond the books. Small firm practitioners act as the volunteer treasurers of thousands of nonprofits, and lend a hand to a variety of religious organizations, community teams and clubs. Their practices…
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CPA-prepared financial statements
A question came up from a small nonprofit business client yesterday for the second time this month. The request was to produce a financial statement for the client’s Treasurer. I found myself thinking about the best words to use to clarify my position. I want to help by making this an easy and seamless process…
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CPA services for nonprofits: a comparison of service and cost
Nonprofit organizations in the United States are sometimes required to engage a Certified Public Accountant (CPA) to prepare financial statements for presentation to state regulators and to the public. The specific requirement varies by state and depends primarily on the size of the nonprofit organization. Three levels of financial statement services offered by CPAs: Audits,…
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Sample Tax Services Agreement
This page is outdated. A more recent version is available: Sample accounting services engagement agreement 2021 Each year I’ve modified my tax services engagement agreement as circumstances and technologies change. This is the current version of the individual tax service engagement agreement. The primary goal of the engagement agreement remains the same: to document our mutual understanding…
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Income earned in multiple states creates tax filing difficulties
Income earned in multiple states can pose a serious problem at tax filing time. I borrowed this example from a tax professionals online post: “Client walks in a $10,000 W2 and has about 20 states on it, with between $150-$800 wages for each state, but zero withholdings in those states. Total AGI (self employed) is…
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It’s not too late for professional tax filing services!
It is still possible to get fast and efficient late season tax services with the full professional attention that your important tax and financial details. I reserve some time late in the season to accommodate new clients and, in fact, this has become a primary marketing tool of my tax practice. Timing: I offer a…
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LinkedIn ProFinder to market low cost tax services
updated November 9, 2017 I tested a new marketing tool using LinkedIn ProFinder to promote my low-cost online tax filing service. This blog post explains my project and hopefully serves as a basis for further marketing discussion among peers and advisers. This post documents the process I used to develop and test the online lead generation…
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Accountant’s verification letter for contractor
A three-minute explanation of the most common types of accountant verification letters and a tip on which type is the easiest and least expensive.
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Receivables management for small businesses
I spend a quarter to a third of my work time in some function related to collection of fees. It’s a shame because I would rather spend my time doing what I do best – putting more money into the checkbooks of my clients. But of course getting paid for my work is a critical part of…
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Keep the Consumer Financial Protection Bureau Independent
In 2008 the United States suffered a previously unimaginable financial blow stemming from negligence, scandal and fraud at multiple levels of banking, Wall Street investment firms and government. We suffered but survived it by coming together, accepting the major financial setback to our lives, and taking steps to ensure that it did not happen again. One…