Category Archives: IRS

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.

The Best Accountants Can be Trusted with Sensitive Information

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On August 26th, rapper Fat Joe will head to prison after a tax evasion conviction in December of 2012. He will serve four months for failing to pay taxes on over $1 million in income during 2007 and 2008. Failing to pay income taxes is a very serious violation of the law, and Fat Joe might be lucky to only be serving four months.

Where the story interesting, however, is in the fact that Fat Joe is claiming his failure to pay taxes is the fault of a suspect accountant. You would imagine that a millionaire rapper would only employ the best accountantsfat joe could have used the help of the best accountants to avoid jail time, but apparently that is not the case. Either he is not telling the truth regarding the unpaid taxes, or Joe needs a little help interviewing his employees and choosing the best in the field. Surely, he could have afforded an accountant who would ensure that his taxes were paid and that he remained a free man.

This story is relevant to every business owner or manager because almost every business entity has an accountant or a group of accountants working on their behalf. You would hope that you only have the best accountants on your team, but how do you know? If your accountant can’t be trusted with highly sensitive and important information, you could find yourself unwittingly in the middle of a serious problem. Assuming Fat Joe is telling the truth regarding his case,  that is exactly what has happened to him.

Vetting any accountant before they are trusted with your information and tax responsibilities is an important process. You should take the time to check references and work history thoroughly, especially considering how much trust you will be placing in their hands. Using GoodAccountants.com to locate a list of qualified accountants within your area will make finding the best accountants simple and straightforward. Once you have an accountant that you know can be trusted with even the most sensitive of materials, you will feel as if a weight has been lifted off your shoulders. Get started choosing your accountant today to ensure that you don’t suffer the same fate as poor Fat Joe.

Find An Accountant And Resolve Your Tax Woes

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find an accountantThe federal government may under staff and overwork the IRS, but that does not mean the people who work for the agency have transformed into a group of Mother Teresas. As recent news stories indicate, the IRS is the same tough as nails tax collection organization that can turn your world upside down. Taxpayers who struggle with the IRS need to know how to find an accountant to straighten out the paperwork and present a winning case.

Most of the issues with the IRS concerns tax debt. A number of reasons can lead to unforeseen tax debt, such as failing to include all sources of income and incorrect mathematic computations. The increasing complexity of the US tax code also contributes to erroneous returns. Your best method for avoiding unforeseen tax debt is to hire an accountant before you file to make sure you have correctly established your tax liability. However, most people need IRS relief after the fact, which means they have to find an accountant, and fast.

You can let your fingers do the walking and take your chances or access the large accountant database at Goodaccountants.com to find an accountant who has the qualifications to take on the IRS. Over 50,000 accounting firms list at GoodAccountants.com. The website allows you to find an accountant for free by inputting personal information and a little information about your situation. Go to the audit page to learn how you can get five competitive bids for your audit. You can find five qualified accountants on the website’s taxation page. Once you receive bids, you need to know how to hire the right accountant to resolve your tax woes.

Your tax professional should be a certified public accountant, which is one of the few professionals allowed to represent taxpayers in cases before the IRS. The accountant should be well versed in every aspect of income tax law. Make sure the accountant you choose has extensive experience dealing with issues that are part of your case. For example, hire an accountant who specializes in maximizing your deductions, if you need to shave a few more dollars from your income. Finally, after considering multiple factors, choose your accountant and start the resolution process as quickly as possible.

Find An Auditing Firm And Make The IRS Disappear

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find an auditing serviceHunters eagerly anticipate the start of deer season. Caterers make extra room in their safes before the start of wedding season. Children across the country don their favorite team’s cap for the opening day of baseball season. However, one season strikes fear into most Americans.
With the April 15 federal tax filing date behind us, audit season is beginning to pick up steam. Unlike deer season, which requires a license, or baseball season, which requires tickets, the only thing you get as a reminder of audit season is a neatly type letter from the IRS. The letters cause the most hardened Americans to run for cover. They panic and throw away the letters, hoping the IRS conveniently forgets about their existence.

The first thing to remember for learning how to find an auditing firm is the IRS does not forget about you.

Yet you have a better chance of becoming involved in a car accident than you do hearing the IRS knock on your front door. Unless you make over $200,000 per year, you have less than a one percent chance of receiving the dreaded audit letter. Even taxpayers who earn $5 million per year only have a five percent chance of welcoming the IRS to their homes.

Nonetheless, you should prepare for an audit by learning how to find an auditing firm. Instead of burning the IRS letter and moving to South America, you can take measures that ensure you garner the best representation in front of the IRS panel that performs your audit. By going to GoodAccountants.com, you take the important first step on the road to taxpayer redemption.

Once you access GoodAccountants.com, click on the audit link to learn how to get five competitive bids for your audit. Make sure you review the video testimonials to hear from people just like you who found the right accountant for their IRS audit. You need to find an accountant whose educational and professional credentials match your unique audit parameters. Look at GoodAccountants.com as an accountant clearinghouse that provides you with the most cost effective way to find accounting experts for private, pension plan, and bank audits.

Staff reductions, coupled with increased workloads have caused IRS audits to decline. Whether the percentage of IRS audits remains low or more resources prompt the agency to ramp up the heat, you should know how to find an auditing firm. Remember that the sooner you act, the better chance you have of finding the best auditing firm on GoodAccountants.com

IRS Scandal Brings Up Financial Concerns for Many: How the Best Accountants Can Help Avoid Those Tax Worries

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best accountantsThe recent IRS Scandal  has many people, including business owners, thinking about their own finances and tax concerns. The news came to light in early May when it was disclosed that the agency had been improperly targeting some conservative groups such as tea party groups who had applied for tax-exempt status.

If you hope to avoid a run in with the IRS, having the best accountants on your side can decrease those odds of being targeted or facing one of many tax issues that can occur.

For a small business as well as an individual, this can make the difference financial success and financial disaster.

A professional, experienced accountant such as those you’ll find with GoodAccountants.com can act as your trusted advisor, helping the business owner to manage cash flow, implement strategies and plan for growth, assess risk and make sure your all of you records are in order. Not only can an expert help save you money by managing your finances and taxes wisely, but a professional can save you hours and hours or precious time and the stress that comes with it.

The best accountants for a small business will understand the dynamics and complex accounting requirements and also have experience and knowledge in your specific industry. Many accountants even specialize in particular industries such as construction or real estate, making them an even more valuable part of your business.

An accounting expert can provide important long-term strategic advice that can help you manage business finances the right way and provide services such as budgeting and forecasting, risk assessment or even advice for starting up a small business.

The expert business consultants at GoodAccountants.com can match your particular requirements with the very best accountants in the nation that will provide the best fit for your business at no cost to you.

With businesses relying on accurate and insightful financial information in order to maintain and increase profitability, capitalize on new opportunities, save money, headaches, plenty of stress – and avoid that dreaded visit from the tax man, a trusted accountant is a must.

How to Find an Auditing Firm and Stay Ahead of the IRS

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With the IRS in the headlines recently, many business owners may be holding their breath hoping that they don’t become a target of an investigation or an audit. The dreaded word is enough to make anyone experience heart palpitations.

If you want to ensure that all of your ducks are in a row when it comes to your business finances, one of the best ways to do that is to find an auditing firm. An audit of business records can help give you peace of mind and even prevent financial disaster. Many businesses look to auditing firms for their professional expertise and guidance in financial affairs to ensure continued success.

Of course, it is crucial to find an auditing firm that is highly ethical and trustworthy in order to handle confidential records. What else should you look for when seeking the right firm?

  • A good reputation is a must. Your business reputation can be impacted by the auditing firm you choose. Consider contacting professional organizations for a list of recommended firms or ask other business owners within your industry for a referral to a firm they have used and know to be trustworthy.
  • Experience and expertise should also be on the top of the list. Businesses entrusting their most sensitive financial information to a firm, need to know that it is being handled by those who have proven years of experience.
  • High ethical standardsfind an auditing firm should be displayed at all times. Does the auditing firm display a high level of ethics in everything they do?

Important factors to consider when narrowing down your choices include:

  • Qualifications. Does the firm specialize in auditing or is auditing something they do on a part time basis to fill in during slower times of the year? Find an auditing firm that is focused on only doing audits is highly preferable.
  • Communication. You need to feel comfortable asking questions and sharing confidential details of your business with the firm. It’s important to be able to work with someone you can communicate with in such highly important financial matters.
  • What type of experience does the auditing firm have? Choose a firm who has worked with a company similar to your own and understands your specific needs and requirements.

One of the easiest, stress-free options to find an auditing firm is to contact the expert business consultants at GoodAccountants.com. They do all of the work in screening the highest quality firms and will provide you with multiple quotes so that you can get back to concentrating on your other important responsibilities.

Don’t Spend Your Time Crunching Numbers: Find Bookkeeper, Save Money

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financial accounting services for your businessOne of the most common mistakes a small business owner makes is failing to hire a bookkeeper. They often feel they can handle the books themselves, in addition to all of their other responsibilities. Unfortunately, what often happens is that bookkeeping and managing cash flow fall to the bottom of the priority list, jeopardizing the future of the business.

When a business owner has to spend a large portion of time crunching numbers, that time ultimately equals money. Time that could be far better spent growing the business. Find bookkeeper, save money; it’s only common sense.

Some business owners just don’t want to go to the trouble to find bookkeeper. Instead, they pass the task over to an unqualified member of staff such as the receptionist; however, without the right background and experience, they are far more likely to make errors that may not be apparent until its tax time. Some of these mistakes could be rather costly.

Essential information about the business is unlikely to be fully communicated to the owner which can result in poor planning and a dim financial future.

Many business owners are concerned that a bookkeeper is an expense that they can’t afford, but the truth is, business owners can’t afford not to. Find bookkeeper, save money. It’s simple math. The money saved over the long haul by avoiding fees for late payments or bounced checks, in addition to the potential thousands that can be owned to the IRS far outweighs the cost of hiring an expert.

The business may also be missing those opportunities where costs can be reduced because the overhead isn’t analyzed for potential savings or simple procedures to reduce insurance costs and other expenses aren’t followed. Often, the business pays more in taxes than they should be as important tax breaks are missed.

Find bookkeeper, save money – that’s what GoodAccountants.com is there for.  Their service comes at no cost or obligation. By contacting the consultants at GoodAccountants.com, you’ll be ensured of getting the best bookkeeper to meet your business needs, helping you to save big while saving big headaches down the road as well.

Smart Businesses Hire a Tax Accounting Company: Why You Should Too

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bookkeeping services for small business

Successful companies realize the importance of hiring help for managing their taxes. Just two of the well-known clients GoodAccountants.com assists include the popular hamburger chain Johnny Rockets and one of the biggest doughnut eateries in the nation, Dunkin Donuts.

There is no business that is too small or too big that can afford not to hire a tax accounting company. It is one expense that will pay for itself in the long run, saving the business much more money than the cost itself.

Tax Breaks

Whether you’re just starting your own business or it is already established, a tax accounting company employs expert accountants with the experience and expertise it takes to help you manage finances the right you.

A professional tax accountant works with taxes and the IRS on a full-time basis. They are intimately familiar with the tax code and can help you benefit from every tax break that is available to your business.

They can show you how to make the most of the money you have coming in while receiving the best tax breaks, making the expense pay for itself and the service virtually free over time with all the money that is saved.

Tax Complications

Tax laws are continuously changing and new ones emerge each and every year. There are so many, only a professional whose job is to do so can keep up with them all. Hiring a tax accounting company will not only allow you to take advantage of any new tax breaks, it will help you to prevent errors which could lead to big trouble with the IRS down the road and even potential business loss.

There is nothing in the tax law that says a business must hire a tax accountant and some business owners handle them on their own. Often times, they realize too late that this was not a good idea. The most successful businesses realize the importance of using professionals.

Doing taxes on your own requires being up to do on all the tax laws, and hours and hours of precious time that could be spent on winning more clients and making money for the company.

Follow in the footsteps of businesses that have made millions, and use GoodAccountants.com as a tax accounting company that can ultimately help you to do the same.

3 Reasons to Use the Services of a Tax Accounting Company

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tax accounting companyEven if you’re a smart and savvy business owner, properly organizing, preparing and filing taxes can cause a bad case of anxiety. When it comes to taxes, no one can be too careful or too organized, and despite what some may believe, hiring a tax accounting company is not just for big corporations.

By forming a good relationship with a tax professional throughout the year, you’ll be far more likely to stay out of trouble with the IRS and reduce much of the stress that comes at tax time. Utilizing tax account experts should be considered a necessary business expense if you hope to continue to own a growing, successful organization.

A wide range of services

A tax accounting company can often provide a wide range of services in addition to tax preparation and filing. With the appropriate tax law knowledge and expertise for small businesses within your industry, they can ensure that you are in compliance with all of the practically endless and ever-changing tax laws.

Professionals are able to advise the business owner on tax breaks and other incentives in order to pay the fewest taxes while reaping rewards that are available in addition to providing invaluable tax planning advice.

Setting up your business

If you’re about to embark on a new business adventure, hiring a tax accounting company will allow you make the best decisions when setting up the company’s financial structure, serving as a guide for all of your business operations including setting up taxation and registration, and filing corporate tax returns.

Audit assistance

Most small business owners just don’t have enough tax knowledge or the time to acquire it in order to avoid a visit from the I.R.S.  By making use of the services of accounting professionals you can be assured that the financial records of your business are properly organized in order to be prepared should an audit occur, making the burden of proof resting with the I.R.S.

Knowing that a professional tax expert is on your side should an audit happen, will make the entire process much less stressful.

How can you find the tax accounting company that is right for you? Contact GoodAccountants.com with access to thousands of the most qualified across the nation.