Category Archives: Articles

Articles that deliver in depth information in all areas of Accounting. We discuss forensic accounting, CFO Services, as well as many other areas of accounting.

What Is A Corporate CPA?

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corporate cpa

corporate cpa

Many have heard the term CPA and know that it stands for certified public accountant.  A Corporate CPA is a certified public accountant which deals strictly with corporations and the business industry, as opposed to accountants for private individuals.  If you are considering corporate cpas for your business, it is important to know exactly what services this type of accountant provides and how you can find a Corporate CPA to help you out.

What Duties Does A Corporate CPA Fulfill?

A CPA is the general type of accountant which offers individuals help with tax preparation and other related financial matters.  A corporate CPA, on the other hand, is more specialized in their knowledge regarding industry standards.  Also, these types of CPAs focus their dealings on corporations as opposed to private individuals.

A Corporate CPA is a good professional to contact if you are setting up a new business.  This type of accountant will walk you through the financial aspects of your corporate setup and help you with regard to your expenditures and more.  If you are starting a new business, contacting a CPA who is well-versed in corporate dealings is a smart move to make.

CPAs who work in the corporate end of the financial industry can also help with managing your financial statements.  They will go over your finances with you and make sure that everything adds up as it should.

Should your company face an audit in the future, you should contact a corporate CPA to help you through the audit.  They will aid you in collecting the proper documentation and walk you through the process so that you will feel at ease and have the proper knowledge when it comes to the basis of the audit.

Finding a CPA For Your Business Needs

When the time comes to locate a CPA to handle your corporate needs, there are a few places where you can look.  Some of the more popular options include online searches, Yellow Pages and asking friends and family members for recommendations.  When reviewing the possible choices, think of what you are looking for in a business CPA and how much your budget will allow you to spend for such accounting services.  Meet with prospective corporate cpas to see if they will meet your accounting needs and then select the best one based on your initial meeting and the services which the CPA will offer to you.

The Benefits of Professional Tax Preparation

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Tax preparation with goodaccountants.com is easy and can help you avoid an audit When it comes to many different jobs, you can usually save money by handling it yourself, but with taxes it’s often a different story. For both business owners and individuals, hiring a professional will often save you more money in taxes than the cost of the tax preparation services not to mention the cost of the time, and stress, involved in preparing your own.

Saving money

Using the services of a professional is one of your best bets for saving money when it comes to taxes. Tax rules are complicated and if aren’t in the business of preparing tax returns on a frequent basis it’s hard to be aware of all of the deductions or credits you might qualify for. Using the advice from professional tax preparation services will help you minimize your tax burden and pinpoint every possible deduction you’re eligible for.

Lower risk for error

Tax law has had major changes nearly every year for the past half century, with 3,500 tax law changes just since 2000. If you aren’t constantly keeping up to date with all of these regulations, it’s easy to make an error- and that can be costly.

If you make an error that results in a tax liability, the interest and fines will continue to accrue from the date that you’ve filed your taxes. While hiring a tax professional does not give you a 100 percent guarantee of perfection, the chances of simple mistakes are immensely reduced.

With complicated tax returns requiring numerous forms, the risk for error continues to increase with each. Hiring a professional for tax preparation will ease the stress and pressure that comes from attempting your own taxes.

Help with an audit and its potential consequences

If a professional prepares your taxes, your chances for audit will be reduced, and if for some reason you do find yourself face with an audit, the tax preparer will usually be able to help. Professional tax preparation definitely adds a safeguard to potential liability, although you will be ultimately responsible should there be any issues – therefore, the importance of hiring someone who can be trusted is imperative.

By using the free services of GoodAccountants.com, you can be assured that you’ll be connected with the top tax professionals in your area who are the most competent at tax preparation, so that you’ll have more time to handle the most important responsibilities for your business, or your life.

Online Accounting vs. Traditional Accounting

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When choosing an accountant for your business, you have more options open to you than you may initially think.  All the opportunities, advantages, and disadvantages of traditional accounting are natural at your disposal.  However, online accounting offers its own advantages, and it may fulfill your business needs much more effectively than the traditional notion of accounting.  If your business could benefit from a low cost alternative to traditional accounting and access to a huge pool of able professionals, it may be time to switch from traditional accounting to accounting online.online accounting

A traditional notion of accounting holds that someone from within the company handles the bookkeeping and other duties as they relate to managing the account.  No business can get by without excellent records of all transactions, money coming and going, or they risk losing money without knowing it.  Indeed, the only true advantage to keeping a traditional accountant is that there is someone physically present at all times who can take responsibility for a business’s finances.  All other duties are not necessarily predicated on being physically available throughout the workweek.  In fact, this puts undue strain on a business, as the money allocated to a full-time accountant could be better spent.

An online accountant may be a novel idea, but the signs of success and the facts that back it up say online accounting is the best way to keep track of finances for many businesses.  Note first that the cost of keeping a traditional accountant versus the cost of outsourcing accounting duties to a low-cost internet accountant can differ by a factor of one-half.  The word, “outsourcing” may seem impersonal and, to some extent, cheap, but by using a resource like GoodAccountants.com you can maintain tight control over whom it is you use for your financial needs.  No accountant on offer is going to be of poor quality, and with a large selection of financial professionals to choose from, your needs are certain to be met.  In fact, online accounting services tailor their suggestions to you and your needs.  Here again, the only foreseeable disadvantage is a lack of an in-house accountant with a vested interest in your business.  But GoodAccountants.com’s consistent record of success would suggest that their online accounting services and CPA’s do indeed take an interest in your business.  Your success is also their success.

A dramatic change like moving away from traditional accounting services to accounting online may bring with it certain concerns, but they are unfounded.  The advantages of outsourcing accounting duties to an internet professional allows you to reduce costs and still receive the services you require to run your business.  Be confident, and try a new way of doing things; it will pay off in the short term and for your future financial needs.

 

CFO Resigned? How to Find a CFO to Take Your Business to the Next Level

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Find a CFOWhat should a company do after their CFO has resigned? Recently, Jim Bonsall, the CFO for the city of Detroit resigned, after allegations were made that he demeaned a coworker during a meeting. An internal investigation is moving forward to determine if Bonsall made the racial remarks that he has been accused of. He submitted his resignation as a result of the controversy.

In this situation, the next step is to find a CFO for the city of Detroit, which can be a lengthy process in order to locate a qualified person who can handle the responsibilities that come from managing the finances of a city. It is essential that a qualified CFO is hired, because hiring the right person can be the difference between financial success or failure of the organization.

The rocky economic climate in the United States has made it more important to find a CFO who can manage financial assets wisely. The CFO is responsible for protecting the bottom line and making sure that expenses can be met. In the process, he needs to find ways to trim the fat without causing harm to the success of the company. It has been said that the CFO may be even more important than the CEO. The CFO will have a good hold on the financial outlook for the company, and they will be able to advice the decision makers on how the money is best spent based on the financial resources that are available.

One good option is to outsource CFO services through a trusted company, such as GoodAccountants.com. The CFO services that are available will provide a company with high quality talent at a cheaper cost than hiring an independent CFO.

The process to find a CFO usually involves heavy recruiting to locate qualified candidates, followed by background checks, reference checks, and intensive interviewing to pick the right person. Even after all of this work has been completed, the company is still taking a risk to see if the person will be the best fit for the company. Using CFO services allows a company to have access to top CFO candidates without obligation or cost.

Best Accountants: Which Qualifications are Important for an Accountant?

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Goodaccountants.com has the best accountants Finding a good accountant is an important aspect of running a small business, but it can be a challenge to find the best accountants for the needs of your company. There are many accountants available to choose from, but certain firms stand out from the rest because they can offer specialized experience relating directly  to your industry.

Hiring someone who is trained and certified in accounting is more effective than finding a cheaper employee and trying to train them yourself. A low-cost employee may be able to do basic tasks to help with bookkeeping and other administrative tasks. The problem is that these low cost employees don’t have the experience or understanding to work through complicated problems that may arise when managing financial records for a company, and the lack of understanding can cause even more problems later on.

So, if you want the best results for your company, then it is important that you research the best accountants in order to find a qualified person who can bring experience and knowledge to the job. One option is to work with a company who can connect you with experienced accountants who have a good reputation. GoodAccountants.com offers a service to help small business owners get in contact with accountants who can help with their business needs. The advantage of working with a service such as GoodAccountants.com is the fact that as a business owner, you don’t have to spend time worrying about hiring the right person… because Good Accountants will do the heavy lifting to sort through qualified candidates for you.

Once you have looked through the best accountants to find a good match for your company, the bottom line of the company can be greatly impacted because the accountant will be able to help you identify how the cash is flowing through the business. It’s too much work for the business owner to worry about running the business and handling the accounting at the same time, which is why it is so important to work with a good accountant. Understanding a clear financial picture of your company is one of the best ways to ensure that you are making good decisions based on the current financial picture.

How a Small Business Accountant Can Help A Business Affected by the Government Shutdown

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The government shutdown has caused a domino effect, which has trickled down to small business owners. The impact of government closures has created a negative impact on many small businesses, and it may take several months for these businesses to recover. Even though the government was shut down for only a few weeks, it could take as long as six months for small business owners to recover. These business owners don’t have control over the decisions that are being made by the government, but they are still directly impacted by the events that happened in Washington.

Because of the financial impact from the government shutdown, many business owners are looking for ways to cut costs and save money. Certain services are needed to keep the business running, but those professional services can really add up. One option to save on professional services is by hiring a small business accountant to help with the financial management of the company.

When a business owner is working with a small business accountant, the business owner can focus on running their business instead of trying to decipher the numbers on the accounting reports. The small business accountant will step in and to analyze the strengths and weaknesses of the company, and help the business owner understand how the money is flowing throughout the year. The accountant will be able to provide a real-time picture of the inflow and outflow of cash within the company, which allows the business owner to make decisions based on the finances that are available. On the other hand, if this information is not being tracked, then the owner is at risk of making a poor decision because they didn’t have the necessary information to help them move the company forward financially.

It can be expensive to hire a full-time accountant to work for your company, but the services can be outsourced for a fraction of the cost. Companies such as GoodAccountants.com offer a small business owner the ability to connect with a good accountant who has the skills and training to manage the books and keep the business on track. The accountant will be able to offer advice on financial decisions that are being made within the company, in order to manage cash flow and assets of the business.

How To Outsource A CFO That Is Qualified

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hageman resigns, time to outsource a cfo? In the Netherlands recently, a Telecom firm was left in a bind when their CFO resigned abruptly due to personal reasons. This is not a position that’s easy to fill, and Royal KPN NV stated that their former CFO, Eric Hageman had helped them significantly in raising 3 billion euros and in striking a deal to sell the firm’s German arm E-Plus to Telefonica out of Spain.

With this glaring gap in management, another company is moving in attempt at a possibly hostile takeover. Royal KPN NV really needs to outsource a CFO, and quickly.

This situation is a shining example of how things can change in just the blink of an eye. If you find yourself in need of a CFO like Royal KPN NV, you may want to consider a new strategy for finding one.

Outsourcing a CFO can help your business save thousands, if not hundreds of thousands of dollars. This valuable person can help to:

  • Improve cash flow
  • Improve profits
  • Increase the value of your company
  • Improve financial reporting
  • Improve your business plan
  • Uncover fraud and possible financial issues

So if outsourcing is your best option, how do you outsource a CFO who is highly qualified for your specific business?

You’ll want a qualified professional who has the extensive expertise required on the accounting, process, and tax knowledge needed to steer a company’s finances. The CFO should also be able to take a leading role in the business by organizing structure, reporting and processes that will result in the excellence of the organization.

When you outsource a CFO, that person will also have to be someone who can be trusted to make the very best financial decisions and handle privileged information. Such an important position can be a huge factor for helping your business to achieve its goals and more.

Finding the right CFO can seem like locating a needle in a haystack, but your best option is to call the experts at GoodAccountants.com, with access to the top outsourced CFOs available nationwide. The very best candidates with the qualifications specific to your requirements will be made available to you at no cost or obligation whatsoever.

Why You Must Find an Accountant to Create a Successful Franchise

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Starting a franchise can be an exciting venture, but one of the biggest factors for failure is franchisees who don’t understand the financial side of things. While you may have an understanding of how to work with figures, there’s a lot more to it than that. Most franchisees don’t understand the terms and language that accountants are familiar with, not to mention all of the complicated tax regulations. A one-time course in accounting doesn’t cut it either.

In order to have the best odds for creating a successful franchise, it’s essential to find an accountant who specializes in a franchise business. Accountants often specialize in certain industries; they are well aware of all of the ins and outs in regard to the financial side of the industry and can be a trusted adviser in helping you and your franchise achieve and exceed your goals.

Accounting experts with industry experience can save you time, money, and help clear up any confusing when it comes to managing finances and prevent you from making detrimental mistakes that can lead to business failure. They can help you to manage cash flow as well as plan for growth, assess risk and much more. The long term strategic advice provided can be invaluable, including such things as budgeting and forecastingfind an accountant with goodaccountants.com or franchise startup advice.

So how do you find an accountant who is the most qualified for your franchise? You can do it the hard way and speak to other businesses and colleagues to gather a list of candidates, or place an ad; of course you’ll have to then schedule an in-depth interview and conduct extensive reference checks.

To find an accountant that has the knowledge of your particular type of franchise can seem rather overwhelming as the time it takes can be time you don’t often have.

Fortunately, you have another option. Just by calling the consultants at GoodAccountants.com, you’ll be matched with the most qualified accounts that are ideal for the needs of your type of franchise. There is no cost for this valuable service, saving you time, headaches and the stress it takes to locate this often-elusive candidate on your own.

How Accountants for Small Business Can Help You Survive IRS Troubles

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small business accountants can save you from the irsAfter discovering about $450 billion is likely owed and going uncollected, with under-reporting by small business accounting for about $140 billion of that figure, the IRS has been cracking down on small businesses. Since the fall of 2012, the Internal Revenue Service has reportedly sent out letters to some 20,000 small businesses to notify them of possible income under-reporting.

In this case, they are trying to nab businesses they believe have an unusually high number of reported sales through credit card transactions, with the thinking that they are getting a lot of cash transactions that aren’t being reported. It is likely that the IRS will also come up with other methods to go after small businesses to make up for the billions of missing revenue.

The IRS is not an organization that any business, or individual, wants to have to deal with. But if you should get a similar letter, utilizing accountants for small business can be essential to positively dealing with the situation and coming out on top.

Experienced accountants for small business understand exactly what the IRS is looking for and why. If you receive a letter, or are audited, you need an accountant on your side. An accounting expert specializing in a business like yours can help you respond appropriately or represent you in the audit.

If you’ve been handling all of the financial aspects of your business, you’re probably feeling overwhelmed; keeping all of the records straight and ensuring that you’re following all of the IRS rules and regulations is a full-time job of its own.

While you may be pulling your hair out at this point, there is some good news. Fortunately, GoodAccountants.com can help you to find the best accountants for small businesses to ensure your taxes and any IRS issues are handled correctly.

Finding an expert accountant now can also help you be better prepared in the future. The right individual is much more than just a tax preparer, but can also become a trusted advisor helping you to manage cash flow, keep your books in order and plan for growth. This will allow you to take care of your most urgent responsibilities such as earning money for your company, while leaving the majority of the financial paperwork and IRS dealings in the hands of an experienced, qualified accounting professional.

The Importance of Hiring Quality Bookkeeping Services

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Bookkeeping mishaps can cost millions. New York City’s 911 systembookkeeping services you can rely on from goodaccountants.com was revamped, with an audit discovering significant overpayments and the ultimate accounting nightmare. The audit found that poor bookkeeping may have cost taxpayers up to $24 million.

Can you imagine the impact errors like these could have on a small business?

A mistake like that could easily shut down many businesses.

Some business owners mistakenly ask their receptionist or another staff member without the necessary expertise to handle the books, in an effort to save money.  But this is often a big mistake that costs more in the long run. Utilizing highly qualified bookkeeping services such as those you’ll find through GoodAccountants.com will actually help you save money over time and avoid financial disaster like the situation in the Big Apple.

Without the right background and experience, even the sharpest employee on staff is far more likely to make errors that may not be apparent until it’s too late.

Using high quality bookkeeping services will ensure that when a bill arrives, not only is it paid on time, but the invoice is accurate; the auditors in the case above found that Hewlett-Packard invoiced the city for more hours than what was approved in time sheets and even charged $192 per hour for menial tasks, such as opening a door for visitors. This is something that a good bookkeeper would catch immediately.

Meticulous bookkeeping services will also help you to make sure your customers aren’t paying late, keep accurate records, save you money by helping you to avoid late payments and other fees, potentially save thousands of dollars to the IRS that can be incurred due to poor record keeping, and much more. This will also help you to discover where costs can be reduced. Bookkeepers are able to analyze to look for savings and find lower overhead costs for insurance and other expenses, or even ensure that tax breaks aren’t missed.

If you aren’t sure how to find the most qualified experts, all you need to do is contact the consultants at GoodAccountants.com. The service comes at no cost to you, and you’ll have the peace of mind knowing you’re getting the best bookkeeping services for your business.