What to Do if Your Accountant Makes a Mistake
Reading Time: 4 minutes As in any business process, sometimes mistakes in accounting creep up. Even the most professional, focused, and reliable accountants are not completely error-proof. If you
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Reading Time: 4 minutes As in any business process, sometimes mistakes in accounting creep up. Even the most professional, focused, and reliable accountants are not completely error-proof. If you
Reading Time: 2 minutes Technically, yes. But, there are some limitations. When Bookkeepers Do Tax Returns Bookkeepers have an important role in tax preparation, and not just during tax
Reading Time: 3 minutes Self Employment Tax Vs Income Tax
Reading Time: 3 minutes If you are a business owner, then you have to pay your employees. This means that you have to worry about payroll taxes. These taxes
Reading Time: 6 minutes Businesses of all sizes require expert financial management to succeed. Deciding whether to hire an in-house accountant or an accounting consultant can be challenging. In
Reading Time: 4 minutes Year-end financial statements provide a detailed summary of a company’s financial performance. 60% of small business owners review their year-end financial statements for strategic decision-making.
Reading Time: 8 minutes If you’re worried you might have errors in your bookkeeping, or are concerned you might need an expert to take a look, you are not
Reading Time: 5 minutes Bookkeeping involves dealing with a lot of numbers, which is why it is advised to establish routine checks for your accounting books to avoid anomalies.
Reading Time: 4 minutes Accounting clerks and bookkeepers both contribute to the management of a company’s financial records and share the responsibility for documenting, confirming, and reporting business transactions.
Reading Time: 4 minutes It’s always a good idea to conduct random audits of your company’s financial books to make sure that your company’s data is stored in the
Reading Time: 5 minutes The IRS received over $4.1 trillion in tax revenue in 2021. If you don’t pay the full amount owed on your taxes, you will be
Reading Time: 3 minutes People around the world have started to work from home as it is convenient. Small business owners who work from home could significantly reduce their
Reading Time: 4 minutes Any improvement that significantly increases the value of your home and extends its useful life is considered a home improvement. If you tear down your
Reading Time: 6 minutes A financial audit ensures that the financial statements are prepared in accordance with the applicable reporting framework (GAAP). It increases the confidence of the public,
Reading Time: 3 minutes Despite the fact that 70% of small firms are focused on enhancing their financial stability, almost 30% of them still experience negative cash flows as
Reading Time: 5 minutes All companies need to comply with the standard regulations set by the regulatory institutes. For example, financial statements must be made in accordance with the
Reading Time: 5 minutes Employee benefits accounting involves complex documentation, financial planning, and specific rules and regulations to adhere to. We have gathered some general advice to deal with
Reading Time: 5 minutes Most business owners try to use Excel rather than true accounting software like Quickbooks to save costs. However, nearly every business owner reaches a point
Reading Time: 2 minutes The break-even point is defined as a limit when the overall costs and total revenue are equal. In simple terms, when the business is neither
Reading Time: 6 minutes Business owners spend hours attending meetings with the accounting department. Since cash flow is one of the important aspects of any business, every business owner
Reading Time: 5 minutes If you are a Canadian and running an e-commerce business in the U.S., you are subject to pay different taxes depending upon your activity in
Our CPAs build an accounting process that is modern, efficient, and has the reporting capabilities you need.
Regular reports ensure you get the oversight you need to be comfortable, without being involved in the day-to-day.
Easily submit any documents remotely through our secure online portal, and we’ll take it from there.
We believe in building strong, long-term client relationships, holding ourselves to a high standard of accountability when it comes to client work, providing excellent communication, and receiving ongoing feedback from our clients.
With unparalleled guidance, cost-saving entity structures, and forecasting built on experience, you’ll get the benefit of CPAs that know the ins and outs of how your industry works.
Get 360° accounting services that offer full support and coverage of every aspect of your business.
We offer everything from granular, data-entry support to high level accounting strategy. Don’t see the service you need listed? Just ask!
Maintain a complete picture of your transaction history and financial health. Our team adheres to strict accounting standards, ensuring accurate and up-to-date books with a financial trail that is straightforward and easy to follow.
Our bookkeeping and accounting reports offer a detailed and accurate look at the complete financial health of your business. From regular reports to real-time insights, our approach to accounting is always data-driven
Unlock the full power of your accounting software with a fully-integrated software setup. Ensure regular and easy instant-generated reports with unquestionable accuracy in every line item
Regular tracking and management combined with inventory audits, evaluations, and reports help you optimize your inventory levels, track performance, and make critical decisions
Get paid on time and stay up to date with vendor payment with invoicing services focused on accuracy, timeliness, and strategy. Our team implements tools and approaches that ensure accounts payable and accounts receivable are in good health
Payroll services from the top down means your business gets the labor reports it needs while your employees and contractors are paid on time. Our team follows regulations and focuses on accuracy, offering well-rounded payroll services to the highest standard.
Get 360° accounting services that offer full support and coverage of every aspect of your business.
We offer everything from granular, data-entry support to high level accounting strategy. Don’t see the service you need listed? Just ask!
For assistance in planning and transferring your U.S. assets to Canada, please contact our colleague Phil Hogan, CPA, CA, CPA at (250) 661-9417 or phil@philhogan.com