Category Archives: Accounting

The Pros of Hiring an Accountant California Professional for Your Business

No matter whether you have chosen to start your own business, or have already been in business for numerous years, the most obvious goal of your venture is growth and money. There are many challenges to running your own business, but when you become successful, you will feel those accomplishments that are very rewarding. Hopefully, if you have chosen to start your own business it is something that you love to do, but regardless of anything, financials in business can be incredibly time consuming. Hiring an accountant in California is a way to relieve some of your responsibilities that you are a bit unsure about, while still making sure that things are being taken care correctly from start to finish.

One of the best ways to ensure you are turning a profit is to hire an accountant in California. The primary function of an accountant in California is to keep your business finances in order, and to keep you apprised of the financial situation your company is in. You want your business to grow, and a great accountant is going to help you make that happen. As your business grows so will the amount of financial paperwork and records you will need to deal with. Although it may be fun for you to work on these numbers yourself in the beginning while you are able to see firsthand the profits you are bringing in, the entire task will soon become overwhelming and can lead to numerous errors. Handling your finances with the proper attention can even sometimes constitute a full time job.

Hiring an accountant in California is going to ensure that not only every penny that your business has coming in and out is accounted for, but also that there will be minimum errors, if any. An accountant in California is able to cover as much or as little of the financial side of your business as you want them to. They are experienced in dealing with bookkeeping, software installation, and business accounting practices and laws, from basic to complex. To help your business grow, a bank loan or investor will provide the resources for growth. This may result in an annual audit of the businesses’ financial statements. An accountant in California can perform an independent financial statement audit.

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Another benefit to having an accountant in California handle your finances is that they are qualified to complete your tax returns. They have extensive knowledge in the tax laws and are able to ensure that your tax forms are filled out correctly without any errors, helping to keep you from any future troubles with the IRS.

During your search, you will find that the best accountant California has will offer prices that are affordable for business owners. Always take into consideration quality and price. While it is definitely wise to investigate and compare many different accounting firms, you do not necessarily want to choose the cheapest firm you can find. Sometimes you need to consider paying a little more money that is manageable for a more quality service that can provide you with ‘errorless’ accounting services for your business. Don’t end up doing it yourself and finding out later that you had countless errors on your tax return. As you can see, there are several benefits to having an accountant take over your finances, and advise you on financial business matters.

This article was written by Francisco Menist on behalf of RBZ, we are a certified public accounting firm in Los Angeles, and our accounting team understands the industry specific issues that often determine business success. To understand what cash flows are, visit

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Posted by on May 2, 2013 in Accounting


Using law firm accounting to help your law firm start-up grow

There always seems to be room for one more law firm in our world today and starting up your own law firm out of your own home, or as a small business, is certainly a viable business idea. There are some concerns and things to think about, like there are in any business, but it is best to be aware from the start of the law firm accounting concerns your business will need to manage.

First of all, there are the taxes. The home office deduction allows you to deduct a portion of your mortgage or rent and related costs as it is used for the business, based on the amount of space used. The self-employment tax is the social security and medicare taxes that businesses traditionally deducts from their employees and contributes extra on their behalf. If there is just you working for yourself, you are both employee and employer and have to pay both portions. It is usually estimated on anticipated income, and adjusted the next year if you are making more or less than expected. The benefits are the deductions. In your law firm accounting practices, almost everything can be a business related expense.

Law_Firm_Accounting_270220131205Another law firm accounting expense is insurance. Malpractice insurance or responsibilities can be very expensive. Coverage and the costs depend on the location of the firm, the type of firm and the age and experience of the lawyers. California law does not require malpractice insurance however you may want to have some protection. If you are working out of your own home, consider that strangers, as well as clients, may appear at any time. You may want to carry extra home insurance.

Business development costs such as advertising, web sites and networking, meetings that may be too large for your home will require management, and so will the operating expenses. These kinds of things are the specific paper flow, management and law firm accounting concerns you can expect and should, if possible, hire someone to handle them. You will need to manage things like income, expenditures, billings and reimbursements. Although time consuming, it is manageable with the help of spreadsheets and specialized computer programs. You will require the full range of technology to manage your business. Computers, wireless networking, cell phones, faxes and printers, data storage and paper storage will be expected and necessary to ensure full capabilities.

Small business law firm accounting lives or dies on the basis of cash flow and collections and is concerned more with cash accounting, than with accruals. Cash accounting is based mainly on a money-in and money-out method. You will need to have enough cash to support the business through the dry spells and make sure all the above mentioned concerns are taken care of. That is, the rent, taxes, utilities, equipment, insurance and purchases. However, after all that, there should still be enough room for the biggest expense – the lawyer’s salary, including set amounts for savings and retirement. Don’t forget the main purpose for this business.

This article was written by Rickie Chico, on behalf of RBZ, LLP, offering specialized consulting, tax, and accounting services to the legal profession. To know the responsibilities of an accountant, you may visit Wiki.answers.

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Posted by on February 27, 2013 in Accounting


Advantages of Outsourcing Tax Preparation Service in Tampa and Elsewhere

Tax preparation and filing and procedures can be quite cumbersome, because of which many business owners hire tax preparation services. Taxation procedures can be completed within a short span of time with easy methods of calculations and software used by tax preparation Tampa services. Today, most of the companies are outsourcing the job of preparing documents and verifying figures for rebates and tax payments, to concentrate on other important aspects of their business.

Tax_Preparation_Tampa_080220131356Business operational costs reduce to a significant extent when tax preparation tasks are outsourced. The efficient and reliable staffs are accessible 24*7 to scrutinize and handle all tasks on your behalf. Chances of errors in tax returns like 1040 for individuals and 1065, 1120, 1120S, 1041, etc reduces by outsourcing accounting and tax preparation services. You can get feedback and reports of erroneous entries, so that you can make the necessary changes and ensure development for future progress of your organization.

Tax preparation services in Tampa and elsewhere follow strict security policies and thus you need not be plagued by any sorts of fear while outsourcing the services. Private information about your company that you offer is kept strictly confidential without allowing any unauthorized access to the private information.

Summary of Advantages of Hiring Tax Preparation Services in Tampa and Elsewhere:

•    Complexities involved in payment of taxes, filing, calculation and understanding can be reduced by relying tax preparation tasks on the experts. This saves your valuable time to a considerable extent.

•    You can get your refunds faster within a few weeks.

•    Free or the paid e-forms reduce errors by calculating mathematical totals on your behalf.

•    Online tax preparation services ensure faster transfer of data.

What to Look for while Selecting the Right Tax preparation Service Provider:

1.    You should have a clear view of what is your budget. Once you have considered the budget, it becomes easier for you to strike a balance between your available funds and the expertise service you wish to hire.

2.    The first thing that you must find time for is research. You will come across plenty of service providers, however; you need to find time for professional evaluations, interview the service supplier and customer evaluations, which will help you to know an agency better.

3.    Next, you must not procrastinate and begin early. Look for services that are capable of filing your taxes well in advance.

4.    Collecting references from the service provider is highly important. References can help you sort the good professionals from the rest. Once you have shortlisted the companies, you must meet them in person and get important details. You can start by eliminating the companies which quote high price and fail to meet your requirements. You always have the liberty to negotiate with a service provider in Tampa or elsewhere.


Since you may not be aware of the intricacies involved in tax preparation procedure and may not have the time to devote to learn the procedures, it is always best to outsource it to reliable tax preparation services.

This article was written by Saran Huot, on behalf of SK Financial, taking care of your day-to-day accounting, bookkeeping, tax, HR, and payroll needs. For more information on tax preparation, you may visit Wikipedia.

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Posted by on February 8, 2013 in Accounting