|
My
Services
Business and individual tax
preparation | Same sex couple Federal and State taxation
Taxing authority
representation & negotiation | Financial consulting and software
training
Financial reconstructions |
Bookkeeping services
I am dedicated to providing my clients with the full range of services they need, while keeping costs competitively low.
Business and individual tax return preparation
-
I offer complete income tax services to my business and individual clients. And wherever you are, I am able to expertly fulfill your tax return preparation needs. I have clients in several states and a few outside The States. I've prepared state tax returns for businesses and individuals in over twenty states, as well as non-resident returns for dozens of people outside the United States who have reporting requirements here.
-
I have chosen CCH ProSystem Fx, the premier tax preparation software, to prepare my clients' returns. It may cost me a little more, but it saves me time preparing your returns. That costs you less. I want happy clients.
-
Of course, if you're a small business, you may need help with quarterly tax filings, or the miscellaneous regulatory filings that pop up as part of running a business. I'm here to help.
-
The majority of my practice is centered on small businesses and the individual tax returns of their owners. My practice is very Main Street oriented. Most of my clients are self employed, and own a business that reports as either a small corporation or a Schedule C on their personal tax return. However, I do have a number of clients who are either retired or who work for an employer and receive a W-2. And like most other CPA's in the valley, I offer estate and trust return preparation.
Same sex couple Federal and State taxation
-
Welcome to the Wild West. The Internal Revenue Service now recognizes Federal income allocation between same sex married couples and Registered Domestic Partners living in a community property state, such as California. This has created a material tax benefit for many couples. The greater the disparity of income between the related parties, the greater the benefit of this pioneering aspect of the Federal tax code becomes.
-
I offer cutting-edge knowledge of legal application of the tax laws pertaining to the Federal and State taxation of same sex married couples and Registered Domestic Partners (RDPs). On May 28, 2010, followed by an IRS memorandum from the Office of Chief Counsel, the Federal tax treatment for Registered Domestic Partners living in community property states became completely different. On February 24, 2011, the Internal Revenue Service clarified its position on this matter and expanded this tax treatment to include same sex married couples, whether or nor they are registered.
-
In fact, Registered Domestic Partners can amend their Federal tax returns back to 2008 to evenly allocate income between the two spouses. Same sex married couples who are not otherwise registered also have this same right. This might be advisable for couples who had large disparities between their incomes.
-
BREAKTHROUGH DEVELOPMENT: On August 19 the Justice Department requested that a Federal District Court grant the widow Edith Windsor an estate tax refund for taxes paid on the estate of her dead wife. Ms. Edith Windsor had paid taxes in the amount of $351,000 on the estate. The court's decision would APPLY TO ALL GAY MARRIED COUPLES throughout the States and territories. We are as delighted as we are prepared to address and process these new benefits and refund opportunities.
-
From a tax perspective, same-sex couples in California are no longer relegated to using the segregated drinking fountain. But we still don't have true parity. The above referenced new rules do not provide true tax parity with heterosexual married couples on matters of inheritance and asset transfer. Separate but equal is hardly equal, and merely separate. Someday this will change. In the meantime, the right approach to taxation can often provide same sex married couples and RDPs with a material tax savings while legally complying with the tax code.
Tax Audits - Taxing authority representation and negotiation
- Really bad things sometimes happen to very good people. Even honest people sometimes get in trouble with the IRS or a state taxing agency. Not properly handling the emergency can unnecessarily add to your tax bill. Ignoring the problem could cost you everything you own.
-
I have successfully negotiated favorable settlements and payment plans with the IRS, the California Franchise Tax Board, the California Employment Development Department, and the California State Board of Equalization.
-
I would be lying if I guaranteed you I could "make your tax problems go away." Anyone who makes such bold promises without understanding the complexities of your case isn't being honest with you. Some types of tax, such as sales tax and payroll tax, are almost never reduced regardless of the skills of the negotiator. What I do promise is that I will work to the best of my abilities to minimize or remove your liability.
Financial consulting and software training
- There is no such thing as a "typical small business." Your business is as unique as you are. However, there are basic financial needs that all companies have in common. One company might need ongoing part-time assistance. Another might need just that one project that will improve financial operations. The following is a quick summary of what my fifteen years as a financial professional can do for you.
-
Accounting
-
Whether you do your accounting monthly or quarterly, every business owner needs timely and accurate full-accrual financial statements in order to understand how their company is doing. And maybe also why. For restaurants, catering, manufacturers, construction and agriculture (as well as many other industries), this often involves cost accounting. That's where your product costs are analyzed on a per-unit or per-project basis. In my several years as a small business controller, I relied heavily upon cost accounting to provide crucial information to the owners and key managers.
-
It is almost always most cost effective to do your bookkeeping (and as much of your accounting as possible) in-house. I strive to teach clients to do as much work as possible themselves. Why pay your CPA huge sums of money on an ongoing basis if you can learn to do it yourself?
-
Budgeting
-
The best way to manage your company's future is to plan your company's future. This starts with a sound revenue and operating budget. There are several pertinent factors that affect your budget such as your current growth curve, events happening in your industry and the regional economy. All should be considered. While a complex task, it's a vital step in mapping your business's future.
-
Software conversions, implementations and training
-
I've been hands-on involved in many software implementations and conversions. They don't have to be painful and they don't have to impede your business while underway. But they do need to be well planned. If we decide to install a software package or convert your existing software, I'll make it as quick and painless as possible. That is, as soon as we complete the planning.
-
Or perhaps you have perfectly good software that no one ever explained how to use properly. I've seen this situation more than once. You bought QuickBooks or another software package on the advice of your friend or previous CPA, but can't do a thing with it. You're convinced it's junk. But a few well orchestrated training sessions can sometimes make that "useless" software a valuable asset.
-
The small business accounting package I'm most familiar with is QuickBooks. However, my goal is to maximize the efficiency and usefulness of your current software, regardless of manufacturer.
-
Clients setting up their accounting often ask me, "What software package should I get?" My stock answer is QuickBooks. Why?
1) It's user friendly, even if you're not an accountant
2) Errors can easily be corrected
3) It's not terribly expensive
4) The data file is easily e-mailed, so I can solve problems without necessarily showing up onsite at the client's venue
-
This is not to say that QuickBooks is THE software for everybody. It does have limitations. But for many businesses operating in the under $5 million per year environment using PC computers, QuickBooks is the best choice.
-
Strategic planning/business plans
-
Most small business owners wince the second someone says "strategic planning" or "business plan." However, in my experience, every highly successful company I've worked with has had a business plan. Every unsuccessful company I've worked with has refused to implement one.
-
A business plan shouldn't be as complex as a 300 page college dissertation. It's an organic document that spells out certain goals, the timeframe for those goals, and how you plan to achieve them. While I can't force a client to be interested in a business plan, strategic planning will almost always make you more money. And if you're seeking a bank loan or investment in your company, it's a requirement.
Financial reconstructions
-
Over the years I've become a bit of an expert on financial reconstructions. Every management position I had in private industry required a complete and immediate reconstruction of the financial records the day I walked in the door.
-
When doing a financial construction it's important to capture all revenues and expenses. It is more common for clients to underreport expenses than to under report revenues. More than once I've had a client who thought they owed money for the prior year, but after everything is considered they actually had a net operating loss.
-
Since starting my practice a decade ago, I've been involved in several financial reconstructions. Cost is always a consideration. If a client is relying solely upon the CPA firm to perform the work, these can be as expensive as an audit. Bearing that in mind, I try to involve the client as much as possible in these projects. The more involved you are, the less expensive I am.
Bookkeeping services
- It is almost always most cost effective for clients to do their own bookkeeping. It is part of my business model to train clients to do everything they are capable of doing themselves. However, some people are either unable to learn the necessary skills or are unwilling to do the work themselves. Or maybe you can do most of the book work, but just need a few hours per month from a bookkeeper to get the records right. I am networked with bright, honest bookkeepers who offer bookkeeping services at competitive rates.
Does it sound like you'd benefit from my services? Contact me.
|
