Category: Accounting
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Easy Button for Small Business Accounting
Forty percent of small business owners said that dealing with bookkeeping and taxes are the single worst parts of owning a company according to a survey conducted by SCORE. Yesterday I spent two hours showing a small business client how to automate most bookkeeping tasks and save thousands of dollars on bookkeeping costs. I introduced our session…
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Have you outgrown your tax preparer?
Fast, cheap, personal, secure online tax filing service. Request a free tax organizer and personal online tax document portal. [contact-form-7 id=”4556″ title=”Boilerplate Contact”]
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How I “wowed” a small business accounting client today
I don’t think that small business accountants have many opportunities to “wow” a client. Marketers would probably say I am short-selling myself on this opportunity and that I could find more ways to impress if I really looked for these opportunities. I get it. But the reality is that daily life of a small business…
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Two changes to tax preparation fees for 2016
The only two significant changes to tax preparation services from 2015 to 2016 stem from changes the IRS implemented to hold tax preparers financially responsibility for tax fraud. IRS knows that a significant amount of fraud comes from two types of tax returns: People who file for refundable tax credits like Earned Income Credit, Child Tax Credit or American…
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Stop wasting time on the worker’s compensation audit
Do you hate worker’s compensation insurance audits? You are not alone. This is an annual time-waster for many small business owners. There is an easy fix. Let me attach the worker’s compensation to you payroll system and a small amount is calculated and withheld each pay period. This eliminates the need for an annual audit…
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Increase in calls from online searches
I’ve noticed an increase in the number of business inquires this past week coming as a result of online searches, mostly Google. I hope this is the beginning of a trend. Three calls yesterday were especially interesting: Avoid high pressure sales A sales manager in Pennsylvania called for advice about health insurance. We was dismayed…
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Rules for Tax Season
I know that I can limit stress to a manageable level and provide a better service to my clients this coming tax season if I follow a few simple rules: Filter out price-sensitive people. Don’t engage with any person who asks about price in the first two sentences of their approach. For example, an acceptable approach would be:…
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Preparing for an audit of your nonprofit organization
Most nonprofit organizations are required to present an annual audit, review or compilation report prepared by an independent accountant. The requirement might be incorporated into the organization’s bylaws or might be required by a government agency or funding organization. The cost of an accounting procedure is substantial and depends on many factors. For discussion purposes…
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Thinking about changing accountants?
The decision to change accountants often comes as the result of pain experienced. It is important to explore this experience so that we can learn from it and make improvements for the future. Author Rob Nixon suggests that we ask the following questions and then find a way to turn the negative comments into positives in…
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I cancelled pre-election tax planning offers
Tax planning has always been a larger part of my practice than tax return preparation. That means that this is my busy season. I offered a number of fixed fee tax consultations under assumptions that the 2017 tax code will be basically the same as this current year. Now that seems unlikely. There are suddenly hundreds…