Founded by a former IRS Agent

Founded by a former IRS Agent

IRS October 15 Deadline

IRS October 15 Deadline For all Americans, the regular tax filing deadline is April 15th of each year. For people who are dealing with extenuating circumstances and can’t meet that deadline, the IRS allows for the requesting of a final extension date of October 15th. For tax filers who are currently faced with the final […]

The CPA: A Vital Team Member for Any Law Practice

The CPA: A Vital Team Member for Any Law Practice When it comes to practicing law, we tend to think of grueling cases and extensive research. However, law firms are businesses, and, as such, it’s crucial to dedicate time and resources into the financial side of things. Having a qualified CPA on the team is […]

The True Cost of a CPA for a Small Business

Private: The True Cost of a CPA for a Small Business Many small business owners wonder: “How much does a CPA charge for a small business?” and there is a lot of confusion surrounding this question, especially when it comes to what a business can expect or how much individual services will cost them. Basically, […]

Sorting Through California’s Filing Requirements for Legal Business Entities

Sorting Through California’s Filing Requirements for Legal Business Entities The Business Entities Unit of the California Secretary of State (CASOS) recently released a “Misleading Business Solicitations” warning promoting caution to California registered businesses regarding the aggressive and deceptive marketing practices of several firms representing themselves as agents of the CASOS. The firms mentioned in the […]

Study Shows Taxpayers Overpay Their Income Tax

Study Shows Taxpayers Overpay Their Income Tax Studies show that every year millions of Taxpayers overpay their income tax or get a smaller tax refund than they legally deserve. Are You One of Them? Have you ever gotten a “second opinion” on your tax return to learn if: You’ve maximized all your tax deductions. You’ve […]

Goodwill Accounting for Private Companies

Goodwill Accounting for Private Companies Last winter, private companies received a beneficial accounting update as a recommendation from the Private Company Council (PCC). On December 23, 2014, with thanks to the PCC, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014 -18. The new update gives private companies an alternative for recognizing […]

How to Survive an IRS Audit

How to Survive an IRS Audit One thing that will certainly send shivers of terror down the spine of any taxpayer is receiving a notification of an IRS audit in the mail. While this can be a nerve racking experience, there are ways to do deal with the situation and make it a less stressful […]

Ask a CPA: Accounting and Bookkeeping Basics

Ask a CPA: Accounting and Bookkeeping Basics With stringent government regulations and ever-changing policies, it is crucial to know and understand how your business and personal finances can and should be documented. We are here to help people everywhere learn and refresh their understanding of basic accounting and bookkeeping. What Are Retained Earnings? Retained earnings […]

Most Common Bookkeeping Questions

Most Common Bookkeeping Questions Bookkeeping FAQs #1: What Is Accounts Payable? Accounts payable is the section of your ledger that must be paid out to vendors for your business. You make payments on these accounts to fulfill your obligations to your vendors, and you will have accounts payable paying out to many different companies at once. […]

10 Tax Deductions for Your Small Business

10 Tax Deductions for Your Small Business Tax deductions. They can dramatically effect how much your business is taxed in the long run, but the catch is that they must be legitimate expenses. Adding deductions to your taxes really boils down to knowing exactly what does — and doesn’t — count as a deduction. Don’t […]