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Business accounting & management tips Q4

Q4 is the time to maximize end of year profits and strategize end of fiscal year and 2020 taxes.LEARN MORE

Quickbooks files deleted by your CPA?

Big mistakes, small mistakes, potential mistakes, are all costly to your business. LEARN MORE

Could you really open your own car dealership?

Yes, if you have a passion for automobiles and are ready to be your own boss, then opening a dealership may be right for you. LEARN MORE

The 3 rules to manufacturing industry accounting

How does “lean accounting” differ from “lean manufacturing”? Its focus is cash flow because inventory doesn’t pay the bills. LEARN MORE

The role of dealership reconciliation

Is an effective tool with respect to controlling costs and ensuring maximum profits. LEARN MORE

Will your life be what you planned in 10 years?

In a decade what area of your life do you want to master? Is it attainable? LEARN MORE

Your next 5 year business plan

A good 5 year business plan should be clear and concise and without superfluous items that distract potential investors. LEARN MORE

Employee stock ownership plan

An employee stock ownership plan or ESOP provides benefits for employees of a company and for its owners. However, ESOPs have their pros and cons.LEARN MORE

Can your accountant help with tax planning

Yes, by staying up to date on tax laws and legislation and incorporating that into the financial plan for the year. And by identifying possible future liabilities and opportunities as well.LEARN MORE

What to know before you hire an accountant

If you’ve made the decision to hire an accountant for your business, the first step is to define the scope of the job before recruiting potential candidates. LEARN MORE

Accounting consultant benefits

When and why is it a good time to hire an accounting consultant? LEARN MORE

When should a small business hire an accountant?

When you’re starting a small business, there are times when it’s warranted to bring in a CPA, even if it’s just part-time. LEARN MORE

Tax considerations for business mergers

Selling, buying or merging business can affect you for a long time. We’ll advise you on understanding the tax implications, current contracts and redundant associates to name a few… LEARN MORE

It’s time for a new CPA. Here’s how you know…

Are you considering replacing your accountant or CPA or other business advisor? Let’s review why and how…LEARN MORE

The top questions you should be asking your CPA

Hiring a CPA for you business is a must and is well worth the extra expenditure in the long run. Most CPA’s provide a range of services, from help with monthly bookkeeping duties, to payroll processing and taxes, to tax and audit representation. LEARN MORE

1031 Exchange Rules for investors in 2019

The 1031 Exchange was put into place in order to allow real estate investors the option of moving their investment capital from one property to another without having to pay capital gains taxes during the of the transaction. LEARN MORE

Common mistakes that you can avoid when opening a new car dealership

While starting a new business can be exciting, it won’t be too long until you start running into some challenges. The key to being able to handle these challenges is preparation and planning. LEARN MORE

Managing commercial real estate risk before it’s too late

New legal fail-safes have been put into place to help avoid another mortgage lending crisis. It’s important for you to protect your investments. LEARN MORE

Common car dealership tax filing mistakes

The car dealership business is complex in nature, owners must take the time to consider how various aspects of the business will affect how their taxes should be filed. LEARN MORE

Tax rules specific to the construction industry

While most states don’t impose sales or use tax on construction services, they do consider contractors to be consumers of the supplies and materials used in their projects, and, therefore require contractors to pay a sales or use tax at the time of purchase. LEARN MORE

Agreed upon procedures engagement for Not-for-Profit companies

There may be times when a non-profit has specific accounting needs that can’t be satisfied by traditional accounting services. A “non-traditional engagement” may be needed in cases like these. LEARN MORE

How an ESOP Plan could work or you

One of the most common forms of employee ownership in the U.S., ESOPs make it possible for employees to own part or all of the company that employs them. LEARN MORE

How to do inventory calculations for auto dealerships

Managing the inventory of your auto dealership is important because it gives you a good idea as to effectiveness of your sales staff and whether costs are being controlled. LEARN MORE

What you need to know before starting your Not-for-Profit business

If you’re considering starting a non-profit business, what you need to know is that it’s a lot more involved than starting a for-profit business… LEARN MORE

CPA estate planning services

There are several benefits to including the services of a CPA when planning for your estate. The most important factor to consider is the extensive knowledge that a CPA has when it comes to taxes. LEARN MORE

Are Employee Stock Ownership Plans (ESOP) best for your company?

ESOP’s are a type of retirement plan designed to primarily invest in company stock. A benefit to its employee participants at essentially no cost to the employees. LEARN MORE

Strategic succession planning for your business

Statistics have shown that seven out of ten family owned businesses don’t survive the transition from the first to the second generation of owners. LEARN MORE

We represent construction companies against the IRS

The construction industry has some of the most complex and often-litigated tax intricacies. Having experienced representation during an audit is essential to a successful outcome. LEARN MORE

Business succession planning

A business succession plan makes it very clear as to who will take over your business when you decide it’s time to retire or you simply want to sell your business and move on to some other enterprise. It’s also a good idea to have one in place in case you become ill, disabled, or die. LEARN MORE

263A cost capitalization calculations

Section 263A of the IRS Code details the uniform capitalization rules or UNICAP for business owners when it comes to cost capitalization calculations. LEARN MORE

Checklists for accounting firm peer review

All accounting firms are required to undergo peer reviews if they are members of the American Institute of CPAs (AICPA). Peer reviews are conducted at least once every three years. The AICPA provides peer review checklists for team and review captains which are generally updated every year. LEARN MORE

OMB A-133 compliance supplement information for non-profit organizations

If your not-for-profit organization has expenditures of federal grants and awards equal to or over $750,000 in a single year, you are required to undergo a Single or OMB A-133 Audit as per regulations established by the U.S. Office of Management and Budget. LEARN MORE

Manufacturing industry tax credit deductions

On July 1, 2014, California manufacturers and certain research and developers qualified for a partial exemption of sales and use tax on the purchase and/or lease of specified manufacturing and research and development equipment. In 2018, California Assembly Bill 398 extended and expanded on the original bill to include agricultural processing as well as electric power, storage, and distribution. LEARN MORE