Business Services Trinity Can a CPA Help My Business?

Many people imagine themselves running a business of their own in the future, but it is a lot easier said than done. One of the biggest challenges of starting a new business is making sure you have enough money to start your business, as well as having enough money to keep it up and running. If you are having a hard time budgeting and managing your money for your business, you may want to consider hiring a CPA and utilize some of their business services. Trinity residents who are trying to get a great foundation for their new business should start with a professional that makes it their livelihood to handle finances.

CPA’s Handle Taxes and the IRS

One aspect of running a successful business that many individuals struggle with is business taxes and claims as well as dealing with the IRS. One of the major qualifications for a CPA is that their need to understand greatly the tax code for their licensing exam. Among other business services, Trinity residents can hire a CPA to handle the IRS in an audit to represent you and your business for claims on your behalf. Taxes and claims for a business are a lot more complicated than taxes that are done for normal employees.

CPA’s Know How to Spend Money Wisely

A new business owner may find it hard initially to create a budget for their company and spend money wisely in the first stages of a new business. CPA’s can help business owners by providing financial analysis as well as create a budget among other business services. Trinity business owners should set financial goals and expectations, and a CPA’s analysis can provide this crucial information. Spending money wisely is an important skill needed by business owners because everything that can be done in a business setting has to first start with some sort of transaction.

*Disclaimer: The views expressed here are those of the authors and do not necessarily represent or reflect the views of Suncoast CPA Group*

Quickbook Services Trinity How QuickBooks May Help your Business

QuickBooks is a great piece of software that was created to help business owners and accountants handle finials aspects of running a business. This software has many different features geared towards helping users manage each of their accounting functions such as financial reporting and credit card management. With quickbook services, Trinity business owners can have all of their information pertaining to finance and accounting in one place. Having your business information on a virtual platform can help save you time, money, and space that you need to run your business. Here are some ways that switching to QuickBooks may help your business in the future.

QuickBooks for Money Management

QuickBooks has great features that help to assist small businesses with managing their finances. One aspect of the program allows users to enter their due dates and payment information for all recurring bills. As bills are due, users may print checks directly as one of the many quickbook services. Trinity business owners can also save or record all transacts as reference for future audits and tax claims. Additionally, to make it even easier, business owners can actually link their bank accounts to the program to handle transactions. There are many features of QuickBooks that can help a business owner manage their money.

Sale Invoicing on QuickBooks

QuickBooks can help a business owner with handling and tracking invoicing. This program can save them time by tracking sales and automatically creating receipts and invoices, and will even bill your clients electronically via email with individual payments or even large batches. With this and other quickbook services, Trinity business owners can handle multiple clients with the same program! In addition to those features, users that subscribe to Intuit Check Solution for QuickBooks gain the ability to scan and deposit checks into the program, eliminating the need to manually enter the data.

*Disclaimer: The views expressed here are those of the authors and do not necessarily represent or reflect the views of Suncoast CPA Group*

Small Business Accounting Trinity Good Habits for Small Business Accounting

For a lot of business owners, accounting is one facet of their company that they do not like to get involved in. But accounting does not have to be as bad as people make it out to be. With a little bit of perseverance and some planning, anyone can handle their small business accounting. Trinity residents who own a business do not need to become a certified accountant in order to make their business run more smoothly; they simply need to keep some little aspects of managing a business in mind that will help them and their accountant.

Recording Accurate Invoicing

Most people see invoices as prompts for clients to make payments, but this is not entirely true! Invoices do more than that, such as keep documentation of the terms of a transaction. With small business accounting, Trinity business owners need to understand that reworking or adding to an invoice, such as creating multiple versions or canceling is a great way to confuse both you and your accountant. Accurate invoicing makes it so that if any questions come up from your clients, you will be prepared with a record of previously-agreed-upon terms under which you and your clients operate.

Sort and File your Receipts!

Everyone knows that when you are filing for taxes or filling out accounting books that having receipts is an important aspect of cataloging and monitoring business expenditures. It is important to keep these receipts organized and sorted as this can be one of the most tedious aspects of small business accounting. Trinity business owners can be helped by categorizing the expense and date, and sometimes making copies of them helps as well. Overtime receipts can become lost or their ink can fade. If you have a photocopier, you can simply scan all of your receipts so you never have to lose track of expenses.

*Disclaimer: The views expressed here are those of the authors and do not necessarily represent or reflect the views of Suncoast CPA Group*

Payroll Trinity Tips for Organizing Your Company’s Payroll

Whether you are just starting a new business or you are in the processing of expanding, staying on top of your payroll can be difficult for any business owner. Nearly sixty percent of all small businesses of the united states in 2013 handled internally their own payroll. Trinity Small businesses that choose to do their own company payroll do not have to feel stressed or bogged down with the idea of organizing your books because there are many helpful tips and tricks that can make payroll even easier for you to log and keep track of. It is important that a business owner has an organized and up to date payroll system to protect them from the IRS as well as ensure employees are paid on time.

Determine how Often You’ll Pay Your Employees

Every business owner needs to determine on the pay period for their employees. This will not only help you stay organized but also it will make things run more smoothly when handling payroll. Trinity business owners can make their pay periods weekly, biweekly, or monthly in some instances. Another important step to getting your payroll organized is deciding if your employees will be salaried or paid hourly. For a lot of small business owners doing their own payroll, it is easier to manage employees who are paid from a salary.

Create a Budget for Your Business

When a small business owner is trying to plan for their payroll, Trinity entrepreneurs need to know how important it is to create a budget that takes into account both wages and taxes. Employers are required to pay Social Security and Medicare taxes, and many places are required to pay unemployment taxes. Organization is key to staying on top of your company’s payroll. Additionally, it is recommended that you keep track of every record and document all in one place and to never throw anything out.

*Disclaimer: The views expressed here are those of the authors and do not necessarily represent or reflect the views of Suncoast CPA Group*

Bookkeeping Trinity Bookkeeping Tips Applicable at Any Time in the Year

Bookkeeping is something that you have to plan ahead for because it takes into account the records and information from a year a more at a time. Even with this being the case, there are still tips out there to help a business owner with their company’s bookkeeping. Trinity business owners do not need to worry about waiting until the next year to implement these tips and tricks because they will not affect anything that you have already recorded and saved. First, it is a good idea to start saving all of your receipts and any other type of document pertaining to a transaction or finances. Record all of your deposits as well so that you know exactly what is going into your business account, that way you are less likely to pay taxes on cash that is not income.

Go paperless! Try Cloud-Based Accounting

Nowadays companies have created and produced software to help you with your bookkeeping and accounting such as QuickBooks. Not only does it help you save on space, but a lot of cloud-based accounting programs have streamlined the process for business owners providing basic templates for your company such as invoices, deposit slips, and business account check printing. Another perk of using a cloud-based program over traditional bookkeeping, Trinity business owners would be able to access their files, spreadsheets, and business information from anywhere with an internet connection.

Make Time to Go Over Your Books and Accounts

Not matter if it is a new year or almost the end of one, as a business owner you should consider setting up dedicated times to go over all your accounting information. When it comes to bookkeeping, Trinity business owners are recommended to have a least a half an hour every week to go over and review your finances, as well as making sure that everything is up to date and in order. It is important to stay on top of all your accounts so that you getting payments on time. If you keep your books in order, you may be spending less time on your business’ finances and more time on expanding your business.

*Disclaimer: The views expressed here are those of the authors and do not necessarily represent or reflect the views of Suncoast CPA Group*

Accountants Trinity Should I Hire a CPA or File my Own Taxes?

If there was a time of the year that everyone is thinking about the same thing it is April and tax season. For small business owners, tax season can be a stressful time to make sure everything is accounted for and your employees are all taken care of. Some business owners might be wondering if they can afford the extra help of accountants. Trinity business owners might be thinking about filing their own taxes on their own to save some money, while others might be considering a CPA because they do not want the stress of making sure their tax information is up to date and correct. Should a business owner use the services of a CPA or file their own taxes?

The Advantages of Hiring a CPA

One of the main reason why people seek to use accountants, Trinity residents do not feel comfortable with their own tax knowledge. They have the expert know how and advice on how to handle or file your taxes as well as stipulations and conditions that can be recorded to potentially claim more money. Another advantage of hiring a CPA as opposed to filing your own taxes is the amount of time you may save. Unless you are a tax expert, the more complex your taxes are, the more time it is going to take to file your claim. When you hire an accountant, there is also a chance that they will catch a stipulation that you did not know you even qualified for, making it possible for you to earn even more money.

The Advantages of Filing Your Own Taxes

One of the biggest advantages of filing your own taxes in the fact that you understand the tax code, which not many people know about other than CPA’s or accountants. Trinity business owners who choose to file their own taxes will be saving money by using a third party or software that can be pretty expensive depending on the extent of your taxes. If you have very simple taxes, then you can potentially save more time than instead of hiring a CPA. It is not uncommon for smaller businesses that are organized to complete their taxes in fifteen to twenty minutes on their own.

*Disclaimer: The views expressed here are those of the authors and do not necessarily represent or reflect the views of Suncoast CPA Group*

Trinity CPA Trinity CPAs – How are Accountants Certified?

Trinity is home to a thriving business community, and many companies (and even lots of individuals) can benefit from the services of a certified public accountant or CPA. Hiring a CPA for the first time can be a challenge, especially if you’re uncertain about what an accountant does and what questions to ask. So in today’s article, we’ll explore the basics of what an accountant does and what questions to ask if you’re hiring a CPA.

CPAs receive their certification from The National Association of State Boards of Accountancy or NASBA, which administers a challenging exam to prospective CPAs. There are also a number of other requirements. For instance, prospective CPAs are required to obtain an accounting degree in some states, while in other states, you only need to obtain a certain number of college credits (usually, around 150).

CPAs are also subject to a background check because “good moral character” is a NASBA requirement.

Each state issues its own CPA certification.

CPAs must undergo periodic certification renewals too. In most cases, accountants are required to undergo some form of continuing education, such as college classes or a professional enrichment workshop.

Questions to Ask When Hiring a CPA

Trinity companies and individuals should be prepared to ask a number of important questions when hiring a CPA.

It’s wise to begin with questions about the accountant’s experience. You may also wish to request (and verify) the accountant’s processional references, in addition to verifying that the CPA’s certification is both valid and current.

You should also ensure that the CPA offers the services you require because accountants can deal in a vast range of different tasks and specialties, from general accounting and financial planning, to consulting and tax planning, to business finance, assurance, auditing and beyond. Accountants may also specialize in a particular niche, such as forensic accounting, information technology or IT accounting, international accounting or environmental accounting.

Another pertinent question concerns fees and billing. Your CPA may charge an hourly rate, while others may have flat rate fees for specific tasks or projects.

In the case of a business, you may wish to have a confidentiality agreement drawn up prior to starting work with the CPA. Trinity CPA clients may wish to opt for a confidentiality agreement if the accountant will have access to sensitive financial information in the course of their duties.

*Disclaimer: The views expressed here are those of the authors and do not necessarily represent or reflect the views of Suncoast CPA Group*