To Find the Right CPA for Your Business, Ask the Right Questions

Small- and medium-sized businesses often turn to CPAs at tax time so that they aren't hit with unexpected interest and penalties from incorrectly filed income and business taxes. Unfortunately, many of these same businesses fail to use certified public accountants in other ways that can help them save money and better prepare their businesses for the future. If you're considering working with a professional accounting firm, be sure to ask the right questions in order to find out which CPA firm is right for your company.

Do You Have Referrals From Other Businesses Like Mine?

Most CPA firms have several industries they're very familiar with. Ask for referrals from these businesses and from companies similar to yours in particular. If you handle light manufacturing and global distribution, talking to someone who does similar work will give you an idea of how the accounting firm handles other clients with issues that you're probably familiar with. If the only referral available is from a street vendor, you may want to look for a better fit.

How Flexible Is Your CPA Firm?

Can they send someone to your facility to learn its inner workings and any financial issues that need to be addressed? Meeting with them at their offices is fine in most circumstances, but seeing how you operate on-site and up close can give them a firmer grasp on what it is you do, what it costs you and ways they can minimize tax liability while improving your profits. Can someone who is familiar with your industry respond quickly if there is an unexpected development?

Are Your CPAs Current In All Areas Of Business Accounting?

The best firms in the city aren't necessarily the largest or the smallest. The best gauge of whether or not they can represent you and prepare your reporting and taxation paperwork is whether or not their accountants continue their education year after year. Tax laws change every year and CPAs have to keep up. Graduating from college with a degree should be only the beginning; ongoing education, whether online or at a university, gives employees valuable tools and resources so that your bookkeeping isn't operating behind the times. If certified public accountants aren't continually learning and expanding their knowledge base, they may make mistakes that can cost you thousands of dollars in penalties and fines. Ask what value added services they can provide beyond those quarterly taxes. Can they perform an internal audit? Educate your managers and bookkeepers on better record-keeping checks and balances?

Who Will Handle My Company's Account?

The size of a CPA firm isn't as important as how they handle each individual client. While a small firm will give you excellent, personalized service, it may not have the same access to resources as a larger one, but you could lose the personal touch if you have to deal with a different representative every time you work with them. The best CPA firms will assign your company a specific contact person who will be your liaison, and you will be able to work with the same certified public accountant every time. This will build trust, help you relax and ask your questions, and give you personal attention and support tailored to your unique business needs.

A combination of personal service, superior support, continuing education and personal service is the hallmark of an outstanding CPA firm. Until you find all of these features under one roof, you won't be getting the financial representation you deserve. So ask the right questions to get the right fit.

For more details visit our another blog post:-

http://dmitriylosangelescpa.skyrock.com/3202551775-New-guidelines-for-LLC-s-in-CA-and-for-IRS.html or call us at 424-274-1391 or also mail us at:dennis@losangelescpa.org & dmitriy@losangelescpa.org

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Why You Should Hire an Accountant That Also Offers Tax Preparation

It might be tough to find if you don't know where to look but most accounting companies online offer tax preparation as well as accounting services. It's a nice way for people to keep all their financials in one place without having to hire multiple companies to do each of these services separately. So why should someone hire an accountant that offers tax preparation? Here's why:

Easier to file your taxes at the end of the year

If your accountant is keeping track of the books all year-long and is staying up to date, it is most likely that they will be able to file your return far easier than if someone were just dealing with the financials for the first time. It makes since to let the person who put the numbers together all year, to file them as well. It makes the process simpler that way and things don't get mixed up. This will not only ensure simplicity in your filing but will also make for a quicker filing, which means you get your money faster.

Save money on accounting services and tax preparation

Companies are all about bundling services these days, just ask "Cox Communications". They have branded their selves with the term. Bundling services not only helps out the business by being able to sell additional services to the customer but also is a benefit to the customer because they get to save money on services that they were already going to pay for anyway. It's also easier for the accountant that prepared your financial statements in the first place to file your taxes rather than someone brand new who has never seen your books. Accountants that also file tax returns also have all year to come up with strategies to save you the most money in the current season.

One Stop Shop

Hiring an accountant that does your taxes too just makes your job easier because you don't have to worry about printing off a bunch of documents or inputting countless numbers into tax preparation software. Having a one stop shop where you get everything done in a bundle, not only make the job easier for you but also save you money in the long run that you can invest into growing your business. Plus, you don't have to worry about things getting misplaced or numbers being mixed up due to the transition.

Definitely consider hiring an accountant that will also take care of your tax preparation. It will save you loads of time, money, and heartache.

For more details visit our another blog post:-

https://sites.google.com/site/cpaservicesinburbank/new-guidelines-for-llc-s-in-ca-and-for-irs

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What is Obama Care?

Let’s face it; the affordable care act is not something any of us want to read; heck, most Senators and Congress people likely still haven’t read it. Even Speaker Pelosi admitted they had to pass it first so they could see what was in it. It was passed by congress, signed by the president, and the Supreme Court has said it is constitutional. It is the Law.  So, as simply as possible, let us break it down into easy to digest pieces and see what it really is.

 Basically, the Affordable Care Act (yes it is the same thing as Obama care) is designed to give all Americans access to health insurance. If you already have health insurance, it gives you some new benefits. Some changes have already taken place. Existing plans now must cover preventative care; things like immunizations, colonoscopies, mammograms, and other things to keep you healthy. Children can now (optional, not mandatory) stay on their parents plans until age 26.

In January more changes will go into effect. If you have a pre-existing condition you will no longer be denied coverage or pay more for your plan than anyone else. Asthma, diabetes, high blood pressure; these are some pre existing conditions people used to be denied for. Not any longer. Also beginning in January, insurers can no longer put lifetime caps on the amount of benefits they will pay out. In January, most Americans will be required to have health insurance and possibly (probably) pay a penalty if they don’t.

Citizens will be able to buy insurance through the new state run marketplaces or the federal marketplace if your state does not have one. You can compare plans and prices. Not all insurance companies are in all states and prices vary from state to state, even county to county. Pricing has always been like this – it is nothing new. In America we call this the free market. You will be able to shop for insurance online or in person at the various walk-in centers.

In the marketplace you will be able to determine if you will qualify for financial aid. Many individuals and families will qualify for subsidies or tax credits, depending on their income level. Counsellors called ‘navigators’ will guide and assist people with the various plans, options, pricing, and signing up. Navigators are supposed to make the process simple and be helpful and informative.

In a nut shell, the law is changing some of the practices of insurance companies, making insurance a lot more comprehensive for people, and requiring all Americans to have insurance but helping with the cost if they need it. This is not European style ‘socialized medicine’, or ‘government run healthcare’; this is insurance from private corporations being regulated by the federal government.

Some people with existing policies will see their premiums go up and some will actually see a decrease. Each, depending on income levels, may still qualify for tax credits or subsidies.

Yes, it will be difficult to get online when it opens on Oct 1. This is to be expected. The enrolment period ends in March, 6 months away. Yes, as with any new program of this size, there will be software issues and things won’t go smoothly.  There will be problems starting out.   This also is to be expected.   Hang in there America, stay healthy. And above all else, don’t believe the hype. Get the facts.

For more details visit our another blog post:-

http://wallinside.com/post-11279182-new-guidelines-for-llcs-in-ca-and-for-irs.html

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Los Angeles CPA - Taking Your Business to the Next Level

In order to conduct a business within the legal parameters of the law, you have to:

• Keep set records, inclusive of employee records and VAT if required. In other words, you will need to have regular books kept up to date.

• Have regular financial statements completed and a yearly tax return filed.

• Have an auditor audit your business every year if this expectation hasn't been removed.

Being organized and accurate is only going to help your business be more successful and that's exactly what the Los Angeles CPA firm will do! Now, you could take care of some of this on your own, but many companies prefer to have a legal accountant do it. If for no other reason than to ensure it is done correctly and within the laws governing it. 

Maybe you just don't have any extra time in the day for it or the expertise. It should also be noted that it is required by law that some things be done by a qualified Los Angeles CPA firm.

You can add to this that many firms, like Los Angeles CPA firm, have other services like business start-up advice and various management strategies that could prove beneficial for your business.

It's important you choose the best accountant for your business and with the Los Angeles CPA you can't go wrong. With their professionalism and years of experience in the business they will help you take your business to the next level and beyond.

Los Angeles CPA firm is:

• Able to handle all business needs, both large and small.

• Swift to respond, effective and efficient at all times.

• Aware of your wants and needs and will bring their expertise to the table to better your business endeavours.

• Confident in their ability to service your business needs proactively and long term.

You can use the Los Angeles CPA firm to help plan your specific accounting needs. For example, having someone qualified to handle the books of your business can free up a whole lot of your time and help you relax a little just knowing your business numbers are in great hands. 

At Los Angeles CPA, we firm will also help you build and maintain the relationship. It goes without saying that trust is incredibly important in any business relationship; even more with an accountancy relationship because it encompasses the finances or your business.

Reputation and personal experience has to be stellar and with this CPA firm you won't be disappointed. By working with your accountant and ensuring you are both on the same page, this will give you the confidence required to let them do their job, so you can go do yours!

With the Los Angeles CPA firm you will quickly see your relationship as productive and satisfying. They are quick to respond and clear with explanations. If you are ready to take your business to the next level, that's exactly what will happen, as long as you have the expertise of a CPA firm on your side.

For more details visit our blog post

http://losangelescpa.metroblog.com/la_tax_expert_offer_legitimate_tax_deduction_methods

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