F. A. Q.
1. Why do I need an accountant?
Unless you are an accountant yourself, you need one to provide your business with essential support. If you are just starting a business, your accountant will become a trusted advisor. Your accountant will be able to give advice on your business plan and the issues of registering a new business. You can also seek help with budgeting and forecasting cash flow from an accountant. Your accountant can help you manage money and provide reports to help you manage your business.
2. Is an Accountant a bookkeeper?
Some accountants offer book-keeping services but an accountant is MORE than a bookkeeper. In theory, there is a wide gap between bookkeeping and accounting, but the distinction is sometimes blurry. One way to look at it is that a bookkeeper compiles and records information. An accountant reviews, analyzes and presents the information in a useful format, explains what the numbers mean and makes recommendations. Many business owners now perform their own bookkeeping duties but lack the accounting skills to analyze their reports. Accounting is a science that provides the framework for the bookkeeping system. You cannot have accounting without bookkeeping, but you can have bookkeeping without accounting. Bookkeeping is exactly as it sounds, keeping the books.
3. Isn’t it easier to do it myself and only hire a CPA or tax accountant to do my taxes?
If you have the time and the patience to deal with the numbers, you can handle the bookkeeping piece yourself. Even if you plan to do your own bookkeeping, you can get help with setting up a manual or computerized book-keeping system such as Quick Books. Remember, you can save yourself considerable frustration, time and money by just outsourcing for accounting and making sure your record keeping is set up to conform to Generally Accepted Accounting Standards. Your Chart of Accounts must be set up correctly in order for your Financial Statements to be accurate and for your expenses vs. income to be accurate for year-end tax filing. You should also seek help with your business plan and budget.
4. What is a Chart of Accounts?
A Chart of Accounts (COA) is a way of showing business´s financial information in such a way that it is possible to generate financial statements and to use those statements to make good financial decisions. The COA is composed of all the individual accounts that make up the overall accounts of a business. Those accounts represent the assets, liabilities, and equity used to produce the Balance Sheet as well as the Revenue and Expenses that will create the business Profit and Loss statement.
Note: for more information on COA, download free E Book “Understanding Your Chart of Accounts”.
5. Do you do Income Tax?
No. I partner with several tax professionals in Hillsborough and Pinellas Counties. I can refer you to a CPA who partners with me often. She is a tax expert with many years experience. I also can refer you to a local Enrolled Agents, if you prefer. I will connect you and you can decide who to hire. Each of these tax professionals knows all of the tax requirements and laws inside and out.
The main thing you need to remember is that when you work with me, you’ll pay less for tax preparation. I’ll make sure that what’s handed to the Enrolled Agent or CPA is “Tax Filing Ready”.
6. Do you have a referral program?
Yes. After you do business with me, you will feel confident in referring me to your friends, family, and business associates. If you do, I will reward you for your trust in me by discounting your rates.
7. Do you process Payroll?
With the increasing amount of independent Payroll Specialists on the market, and the reasonable rates charged by these Professionals, I refer you to my associates Payroll Experts to help you with the ever changing tax laws providing you with peace of mind so you can concentrate on your business rather than dealing with tax deposits etc.
8. If you don’t don payroll or Tax Returns, what do you do?
As a Certified Quick Books Pro Advisor, I provide training and consulting as well as troubleshooting for your Quick Books needs. I do Budgeting and expense management, business plans and accounting including controller services . See list of services.
9. In what areas do you provide services?
Since my office is located in the Carrollwood area of Tampa, I currently work with businesses in North and South Tampa, Lutz and other parts of Hillsborough County including Riverview. I also have clients in parts of Pinellas County including Oldsmar, Palm Harbor, Clearwater and Clearwater Beach. But, with the “remote access” capability now, I work with clients nationally if I so choose.
10. How do you charge?
My rates vary depending upon the level of service you request and the “conditions” of your books, the volume of transactions and the extent of the services I provide for your business. You’ll be pleasantly surprised at how reasonable my rates are as compared to CPA’s. I have hourly, weekly or monthly rates, depending on your specific needs and requirements.
