Wow, it’s March already, and I bet that many of us have started receiving those tax refunds in the mail. For some of us, it’s not that much,while for some of us, it’s a whole lot of Big Money. Whichever category, you are in; remember that you need a good plan for your money. The important thing is that many of us have started planning on how to spend it; but I have these tips for those of us that want to give the refund a PURPOSE, because if you don't do this, you will find out that you have nothing to show for your refund at the end of it all.

 

               Here are some tips about what to do with your Tax Refund Money:

 

 

 

 

 

 

 

 

 

 

 

 

 

Please feel free to let us know how you have spent your tax refund or how you intend to spend your tax refund, and we can also advise you on how to make the most from it. For those of us ,that are not getting refunds, how do you ensure that you are ready to write that check to IRS on tax day?

 

CALL US TODAY ON 202.422.4586.You will be glad you did.

 

 

   

 

 

Wow,we have entered the second month of the year 2013, and I know that so far, it has been a great and fantastic season for us. For most people in the States,this is a period of tax preparation and filings, for both individuals andorganizations.

 

We should know by now, that having a good bookkeeping system is essential to having a successful and smooth tax filing season. I know from experience, that some small-business owners view bookkeeping as a burdensome task that takes them away from running their business. It makes others nervous, and they may second-guess their knowledge and skills in fear of the Internal Revenue Service knocking on their door.

 

I want to let you know that, you don’t have to be intimidated or bored by accounting or Bookkeeping. Successful business owners don’t view bookkeeping negatively. They have adopted a few basic procedures to stay on top of the paperwork. By doing so, they save time, money and a lot of stress.

 

I have listed below the basic steps to gain control of your business bookkeeping tasks:

 

1.    Use accounting software such as QuickBooks: QuickBooks is a set of software solutions, designed to manage payroll, inventory, sales and other needs of a small business. Each package is developed according to different industries and their needs.

 

The great thing about QuickBooks is the fact that it combines a variety of accounting processes into one user-friendly system, and this is why it is highly recommended. You have to become at least generally familiar with theQuickBooks software, this includes basic knowledge like knowing how to input checks, enter vendors and customers, reconcile bank accounts, and create reports and other data. Once, you have this in place, you can choose one of these different ways to maintain it:

 

 

 

 

 

2.   Scan your receipts, business cards and other important paperwork. Some software products import directly into QuickBooks. Utilizing this type of tool will help save time and paper, and help audit-proof your record.

 

3.  Separate personal accounts from business accounts. Don’t mix the two.Keeping personal and business bank accounts and credit cards separate will make bookkeeping much easier and help maintain your corporate veil if you have a formal entity.

 

4.  Avoid cash.Instead, use your debit or credit card religiously. When you use cash you lose track of potential write-offs. If you have to pull money out of an ATM, note on the receipt the purpose of the withdrawal.

 

5.  Go paperless.Storing tax documents for at least six years can be a hassle. Another option is to purchase a small fireproof safe to store important personal documents(passport, life insurance, etc.) along with a regular backup of your bookkeepingsoftware and tax returns saved on a flash drive. For extra data protection,consider off-site physical storage or online data storage for these records and scanned files.

 

6. Auto-track your mileage. Keeping a written record of all your business, charitable and medical auto mileage can be a pain. Look into a satellite-assisted service, phone application, or software program.

 

7. Meet with your CPA at least twice annually. Review your business plans, financials, tax deposit amounts, payroll procedures and tax strategies.The cost of taxes is too high to leave your plans to chance. Just a few minutes on a regular basis can save thousands of dollars. Also, remember that your CPA should be bringing you strategies and ideas in these meetings. If the meeting consists of you throwing out ideas and your CPA shooting them down, you have the wrong CPA. Find a planner who is reaching out to you with ideas and strategies on a regular basis.

 

We are available to help you out with your QuickBooks Bookkeeping Services and training,and we also offer other accounting/Bookkeeping services at great rates too. Why don’t you give us a call today and see how we can save you and your business tons of money.

 

Email us for more details on [email protected] ,we would love to hear from you.

 

 

 Do you know that everyone has a personal Balance Sheet? Just a reminder,A Balance Sheet is a financial "snapshot" of a Business at any given point in time.It shows your assets and liabilities and tells you your business networth.
 It is a rule that every Businesss has a Balance Sheet,so also should every individual have a personal Balance Sheet,Our Personal Balance Sheet is defined as our ability to make a difference wherever we are,and this difference creates a value for our personal life. As we gain abilities,our personal Balance Sheet improves and ultimately helps us to reach our goals.

 For instance,when we find ourselves in a situation,we ought to assess it and jump into it, to make something happen,whether we get credit or not;our Personal Balance Sheet goes up and will make us much more valuable,this indicates that whenever we approach any situation,we should rather consider it as an opportunity for personal growth,and watch our personal balance sheet improve.

 Finally,as we build our personal abilities to make a difference,we will be rewarded,just as a business balance Sheet shows the value of a business.

 My Dear Friends,this is the first month of a new year,it is not too late to go out and make a difference in the world and watch your personal value grow.You will greatly be rewarded for this.

      

 

 

 

 

 

 

 

It is significant for a business to have transparent record keeping systems which would make the transaction clear and comprehensible. This article highlights seven factors why we need to keep an effective accounting book. Also you can understand the importance of bookkeeping services by going through this article. It also gives you quick tips about why you needbookkeeping services for your business.

 

1. Recording the business transaction would help you to monitor the financial success or failure of your business. You probably don’t know where you are going if you didn’t realize where you have been. Hence,understanding the existing scenario of your financial status is much important to achieve the heights and avoid the unexpected loses. An effective financial method provides you the answers to your entire questions about the growth scale.

2. Keeping a record would help you to make future business decisions. Every business decisions have to be finalized by considering the financial consequences happened earlier and the same can be done only if we retain the accounting books properly. Without the precise data and financial information,it is extremely difficult to predict the impact of any given action.

3. Maintaining account books would help you to file the income tax records accurately. Every business entity has to file income tax returns and pay incometaxes. With proper records, it is very easy to prepare the tax returns and filing also can be done on time without any hassles. You will be under/overpaying your taxes,if you fail to maintain proper records of your transactions.


4. Keeping the older transaction would help you to plan the budget for the forthcoming year. Preparing budget would keep you on the safer side and help you to avoid the unwanted expenditure.

5. Keeping good records would help you to prepare payroll tax returns and Sales tax without any hassles. If you are doing a partnership business, you can avoid unwanted issues in profit distribution by retaining your business transactions accurately.

 

6. You need Bookkeeping services, so that you do not have to burden yourself running your business and taking care of your Accounting Records, a bookkeeper will readily take your data in whatever form, it is (Receipts,Bank Statements, Files, Folders, Debit Notes, Credit Memos)and turn them intofinancial reports and present the information to you in the form, that will help you make great Business Decisions.

7. Finally, retaining bookkeeping services would help you to understand the transactions which are all profitable and the unwanted operating expenses. You can avoid those expenditures and prepare an effective budget to optimize your business financially. Hence, bookkeeping plays an essential role in every business. Outsourcing bookkeeping would really be worthwhile.

 

Why don’t you contact us today to help you with your Bookkeeping Needs? We will take your data and organize, analyze, reconcile and send it backto you in a clean, organized, structured and Accurate Report.

 

You will be glad you did.