Financial Stress Hits Earlier

I just read an interesting article in our CPA Magazine that stated that 62 Percent of those under 30 reported having “some” financial stress. That a lot of stress for a lot of people. What then happens in your 40′s when you add mortgages and kids to the mix ? I believe we need to […]

Read more Posted in Jan 08,2014

Another deadline approaches

If you extended your corporate or partnership tax return at March or April 15th 2013 for the 2012 year, your extension expires on September 15th. Blowing deadlines is serious stuff. If you have any hope of asking the government agencies for favors, you must must must respect and uphold the deadlines. We recommend you gather […]

Read more Posted in Jan 08,2014

Time for a Check Up!

Yes, its the middle of 2013 and you should have your bookkeeping updated through June 30th by now. It is a GREAT time to do a tax projection based on the 6 months that passed and estimating the 6 months ahead. This way we can make an accurate tax determination now and pay in estimates […]

Read more Posted in Jan 08,2014

Is the IRS your friend?

And yes, I have found the IRS agents I speak with to be polite and helpful. When I thanked them for their help, they said most people who call in are rude, obnoxious and demanding and that they are always so relieved to find a friendly and polite voice on the other end of the […]

Read more Posted in Jan 08,2014

Has efiling increased tax fraud?

According to the IRS, there were 1.1 million cases of identity theft and efiling tax fraud in 2011 with dollars in the billions. 80% of tax returns are now efiled each year. I am a huge fan of efiling as we get an immediate confirmation of receipt by the government agencies so no concerns of […]

Read more Posted in Jan 08,2014

Do CPA’s really sell time ?

Over my almost twenty years in this field, I have heard many CPA’s say “we sell time”. Really?!? There are many days I wish I could buy “time” but no such luck. Time itself is unfortunately not for sale! I prefer to think that a CPA sells knowledge and experience. Now that’s something I CAN […]

Read more Posted in Jan 08,2014

Any idea how many licensed CPA’s there are in California ?

I thought I would share some very interesting numbers I just discovered…………as of December 31, 2012, there were 86,088 licensed CPA’s in California. There are 1,426 partnerships and 3,782 corporations. Everyone else is either a sole practitioner or works for a large corporation as an in house accountant/CFO. Interesting statistics and surprisingly fewer CPA’s in […]

Read more Posted in Jan 08,2014

CPA Ethics

We have all heard the jokes about accountants being little grey men in suits, counting pennies but CPA’s are so much more than number crunchers and tax preparers today. After many years in school and then doing practical hours in the field of various different businesses, we really see what works and what doesn’t on […]

Read more Posted in Jan 08,2014