Can I have a word with you?
This may not be a good question when the person asking that question is big, strong and angry. It might mean that it's time to consider running really fast! However when it is a friendly CPA is asking you that question it might be an offer you should not refuse.
So if are interested and would like to chat with a cpa then you should click here.
You may think that your issues are not able to be resolved, however often that is not the case. Recently a friend was considering whether he should purchase a flock of sheep as a new business venture. In fact he spent several weeks learning and working literaly in "the field". This was a venture that I found particularly interesting so I was getting updates form him in this new business opportunity. So I was very suprised to find out that he was abondoning this business because of the ever rising commodities used as feed.
He was very shocked when I explained to him that he could hedge his risk to rise in commodities by purchasing options. We went over his options and he was very happy to understand that he may not have to walk away from this new venture.
You may also may not be aware of answers that I may have for the issues that are hurting your business. If you are curious please feel free to go to http://www.cpabookkeepers.com/ or simply call me on my toll free# (866) 559-6434 .
Wednesday, January 30, 2008
Tuesday, January 29, 2008
Filing NY Corporation Tax Return
To find out :
Filing NY Corporation Tax Return information and outline as well as how to get it prepared easy
Sunday, January 20, 2008
Free Accounting Software Download Free
To find out:
Free Accounting Software Download for Accounting Software just download
your user name and password for free after sending an email
Free Small Business Accounting Software
To find out:
Free Small Business Accounting Software is a solution for any small business who needs free accounting software
Tuesday, December 11, 2007
The Accounting software wreck solution
Is Quickbooks and other accounting software packages a lie ?
Did you purchase Quickbooks with the the expectation that when you had finished entering your data you would have useful financial reports? Now, tell me if you do not have useful, accurate financial reports is that because you were misled? Of course you were as were many others.
Now if your free bookkeeping software did not cost you a penny where you any less misled? No!
Make no mistake, that makes me just as guilty as those who sold you software that would not get you the end result you were expecting.
So that's why I am going to give you the reason why your accounting software is probably producing a flawed product that has no use.
Accounting Software Error #1
Are all deposits the same? Not at all. Some deposits are liabilities and equity others are income. If you do not classify these deposits correctly your Income Statement will be wrong and useless.
Accounting Software Error #2
Are all checks the same? Not at all. Some checks are not an expense but rather a reduction of a debt . If you are paying down loans and classifying it like any other expense your income statement will be wrong.
Who should fix these errors?
You probably would not do your own brain surgery or plumbing. These are jobs we all understand are better off left to a an experienced professional. Your accounting is not any different. So I strongly recommend that you call me at (866) 559-6434 or visit my website at http://www.cpabookkeepers.com/
Tuesday, November 13, 2007
One plus one equals ?
There is an old joke about a business owner that is interviewing accounting candidates for a job. Each one is asked the same question, "How much is one one plus one" and then dismissed when they answer two. Finally one person was hired. His answer was different.
What do you want it to be ?
Yes some accountants can make numbers appear as they want it to be. Most people are not comfortable with that approach. Truth be told there are legitimate ways to portray financial statements differently than tax returns.
The other way that one plus one does not equal two is when there is collaboration. The collective efforts of two people working together is much more than the sum of their individual efforts.
There are some excellent free tools on the Internet that are collaborative. Google Docs is a free service that allows more than one user to work at the same time on the same document or spreadsheet. Though the early reviews were not that great, quietly Google has been improving this product.
Another free product that is collaborative is the free accounting software available at :
http://www.cpabookkeepers.com/accounting-software.html
What is great about this accounting package is you can collaborate with me. Please feel free to contact me via email cpa@post.com or chat on my website http://www.cpabookkeepers.com/ or call me toll free (866) 559-6434
The important thing to remember is that when we are open to work with others the potential for our growth is exponential. So no matter what it is that you are doing today, especially if progress is slow consider how you can avail the use of others to accelerate progress.
What do you want it to be ?
Yes some accountants can make numbers appear as they want it to be. Most people are not comfortable with that approach. Truth be told there are legitimate ways to portray financial statements differently than tax returns.
The other way that one plus one does not equal two is when there is collaboration. The collective efforts of two people working together is much more than the sum of their individual efforts.
There are some excellent free tools on the Internet that are collaborative. Google Docs is a free service that allows more than one user to work at the same time on the same document or spreadsheet. Though the early reviews were not that great, quietly Google has been improving this product.
Another free product that is collaborative is the free accounting software available at :
http://www.cpabookkeepers.com/accounting-software.html
What is great about this accounting package is you can collaborate with me. Please feel free to contact me via email cpa@post.com or chat on my website http://www.cpabookkeepers.com/ or call me toll free (866) 559-6434
The important thing to remember is that when we are open to work with others the potential for our growth is exponential. So no matter what it is that you are doing today, especially if progress is slow consider how you can avail the use of others to accelerate progress.
Sunday, February 18, 2007
Yes I am proud to be an American
And I am even more proud to field a question for someone willing to stake their life for me. As I am sure everyone feels whether they agree or not about wether we should be in Iraq. So I was happy to answer the following question today:
I served in Iraq for the year of 2006. I recently received my W2 from the U S Government Military and Box 1 has the wrong amount. They said I earned $ ***** however my SSwages Box 2 shows $ ****** . How can I get a corrected W-2 from the Military as soon as possible?
(actual numbers left out for privacy issues)
So my answer was that his W2 was correct ! The reason why his gross wages were drastically less than his social security wages is that "combat pay" is not taxable. I also refered him to an excellent article on how to maximize the benefits of combat pay.
This question came to me because of a resource that you can find on my website that helps you out in case you have lost your W2 form.
I served in Iraq for the year of 2006. I recently received my W2 from the U S Government Military and Box 1 has the wrong amount. They said I earned $ ***** however my SSwages Box 2 shows $ ****** . How can I get a corrected W-2 from the Military as soon as possible?
(actual numbers left out for privacy issues)
So my answer was that his W2 was correct ! The reason why his gross wages were drastically less than his social security wages is that "combat pay" is not taxable. I also refered him to an excellent article on how to maximize the benefits of combat pay.
This question came to me because of a resource that you can find on my website that helps you out in case you have lost your W2 form.
Tuesday, June 20, 2006
Employee recognition ? new spin on employee recognition ..
You probably think that employee recognition means when an employee is singled out for a great contribution and a job well done. However some people have put a new spin on employee recognition. Now the recognition is for the employee who has the worst boss. So there is a web site sponsored by the AFL-CIO that has a contest for the most awful story about an employees bad boss. Before you go to the site which I will supply the link for please read on to see why it may be a place you can do without.
Wikipedia has a great definition of the law of attraction:
"The Universal Law of Attraction is basically the notion that likes attracts like, and that means that what you focus your mind on will manifest in your reality."
What this means is that if we focus on a certain result it seems to come about. So simply stated spending time reading stories about who has the worst boss, and voting on who has the worst story, may make that your reality. I would rather focus on a pleasant employer, who is caring, thoughtful, considerate and gracious in doling out compensation. My wish for you is that the boss I just described is yours or your present employer is getting closer to that ideal. Then maybe we can go back the old idea of employee recognition such as a raise or a new corner office.
If after all that you're you are still curious about the site, or perhaps you think your story is so awful that you might win the contest then here is the site my bad boss.
Wikipedia has a great definition of the law of attraction:
"The Universal Law of Attraction is basically the notion that likes attracts like, and that means that what you focus your mind on will manifest in your reality."
What this means is that if we focus on a certain result it seems to come about. So simply stated spending time reading stories about who has the worst boss, and voting on who has the worst story, may make that your reality. I would rather focus on a pleasant employer, who is caring, thoughtful, considerate and gracious in doling out compensation. My wish for you is that the boss I just described is yours or your present employer is getting closer to that ideal. Then maybe we can go back the old idea of employee recognition such as a raise or a new corner office.
If after all that you're you are still curious about the site, or perhaps you think your story is so awful that you might win the contest then here is the site my bad boss.
Tuesday, June 13, 2006
Save or pay when you incorporate online
Problem
Today I heard from two clients who utilized the services of one of many of the companies that help people incorporate online. The individual who was disappointed had made a false assumption that because he paid an extra fee he was automatically an S Corp. He was unaware that the pretty form filled out with his corporate papers had to be signed and mailed to the IRS in order to have an s corporation. So now a year later he is looking at the prospect of paying double taxes, in his corporation and then personally.
Answer
This is why I advise my second client to pass on the additional services such as getting an ID number and the s election. you can do the same thing by filing the links that I will supply. To get an employer identification number from the IRS follow this link. In order to do an s election you can click on the following link for the form 2553.
I hope you found this helpful so that you can feel comfortable when you incorporate online, saving significant attorney's fees, and getting the right services.
Today I heard from two clients who utilized the services of one of many of the companies that help people incorporate online. The individual who was disappointed had made a false assumption that because he paid an extra fee he was automatically an S Corp. He was unaware that the pretty form filled out with his corporate papers had to be signed and mailed to the IRS in order to have an s corporation. So now a year later he is looking at the prospect of paying double taxes, in his corporation and then personally.
Answer
This is why I advise my second client to pass on the additional services such as getting an ID number and the s election. you can do the same thing by filing the links that I will supply. To get an employer identification number from the IRS follow this link. In order to do an s election you can click on the following link for the form 2553.
I hope you found this helpful so that you can feel comfortable when you incorporate online, saving significant attorney's fees, and getting the right services.
Friday, June 09, 2006
Good news about the new offer in compromise
If we look hard enough at an issue there is always a positive angle. A good example of this would be the new and improved IRS offer in compromise program. I failed to mention in my post two days ago that included in the new legislation is that offers not rejected by the IRS within 24 months are considered accepted.
Due to the July 16 deadline, when the new changes will take effect, there has been an abundance of filings prior to the change. What this means is that it is very likely that the IRS will be overloaded with cases based on the the old system. Considering how antiquated their computer systems are I wouldn't be surprised if filings posted right after July 16 might not get responded to within 24 months. In fact even though I truly believe the IRS has become much improved, there has still been a wealth of stories where deadlines had passed with no action.
If one feels that they have a strong case for acceptance of their offer then I would suggest they go with it before July 16 so they do not have to make a 20% down payment. Because the strategy of hoping that there will be no response to an offer sure sounds like a longshot.
Due to the July 16 deadline, when the new changes will take effect, there has been an abundance of filings prior to the change. What this means is that it is very likely that the IRS will be overloaded with cases based on the the old system. Considering how antiquated their computer systems are I wouldn't be surprised if filings posted right after July 16 might not get responded to within 24 months. In fact even though I truly believe the IRS has become much improved, there has still been a wealth of stories where deadlines had passed with no action.
If one feels that they have a strong case for acceptance of their offer then I would suggest they go with it before July 16 so they do not have to make a 20% down payment. Because the strategy of hoping that there will be no response to an offer sure sounds like a longshot.
Thursday, June 08, 2006
IRS - it really is the internal revenue SERVICE
Today I was really pleasantly surprised to find the service I received from the IRS. I called on a collection matter for a client and the phone was answered with a hold time of less than a minute. We actually enjoyed the conversation and resolved more than one issue.
There is one secret that I would like to tell you about how I accomplished what I did. Most of us have a sick yuky feeling when we hear the word IRS. This might be natural but it is not helpful.
Sometimes we forget that the person representing the IRS is just that a person, usually working under conditions that they take a lot of abuse. So if we get on the phone with them with a smile on our face ( yes people feel your smile even over the phone ), you will probably get that smile back. You are then more likely to get the best possible resolution - like an abatement of penalty ! So I got on the phone with a big smile and a warm hello and by the end of the call over $ 400 of tax was abated, not bad for a twenty minute conversation(and a lot less stressful too).
There is one secret that I would like to tell you about how I accomplished what I did. Most of us have a sick yuky feeling when we hear the word IRS. This might be natural but it is not helpful.
Sometimes we forget that the person representing the IRS is just that a person, usually working under conditions that they take a lot of abuse. So if we get on the phone with them with a smile on our face ( yes people feel your smile even over the phone ), you will probably get that smile back. You are then more likely to get the best possible resolution - like an abatement of penalty ! So I got on the phone with a big smile and a warm hello and by the end of the call over $ 400 of tax was abated, not bad for a twenty minute conversation(and a lot less stressful too).
Wednesday, June 07, 2006
Offer in compromise - an offer you can't refuse ?
I was really disappointed this week to find out that the IRS is changing the offer in compromise program. First let's discuss below what was really great about this program. An offer in compromise lets a taxpayer who cannot afford to pay all his taxes to make an offer to pay a percentage of what they owe. It is really government acting in a very humane manner. Just like a regular businessman will sometimes make a deal with the customer who has fallen on tough times, this program allows the same thing to happen at the IRS.
Well as of July 16 this program will not be the same anymore. If you want to make an offer in compromise you must first give a down payment of 20%. If the IRS does not accept your offer you don't get the 20% back. I'm not sure why anyone in their right mind would make an offer in that position, knowing that they might show nothing for their efforts but a loss of 20% of what they owe.
Remember the old joke that if pro is the opposite of con then what is the opposite of progress, that's right Congress. I don't know why they would want to fix a program that brings in revenue to make it so flawed that no one would want to use it anymore. When in the past few years many states have gotten bountiful tax revenues by offering amnesty we now find the IRS going in the opposite direction and making it even harder for a taxpayer to clean up his act.
Well as of July 16 this program will not be the same anymore. If you want to make an offer in compromise you must first give a down payment of 20%. If the IRS does not accept your offer you don't get the 20% back. I'm not sure why anyone in their right mind would make an offer in that position, knowing that they might show nothing for their efforts but a loss of 20% of what they owe.
Remember the old joke that if pro is the opposite of con then what is the opposite of progress, that's right Congress. I don't know why they would want to fix a program that brings in revenue to make it so flawed that no one would want to use it anymore. When in the past few years many states have gotten bountiful tax revenues by offering amnesty we now find the IRS going in the opposite direction and making it even harder for a taxpayer to clean up his act.
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