Posts Tagged ‘ job ’

Our Clients – Spear CPA

Spear & Company’s clients typically range in size from $50,000 to $5,000,000 in annual revenue. Because of our extensive experience with a wide variety of small businesses, we can address all of your accounting needs. We pride ourselves in helping our clients deal with problems and questions impacts their business. As a client of Spear & Company, you will be assigned an accountant and a bookkeeper and they will probably stay on your account as long as we work together. We are adept at helping this transition go smoothly. Accounting and tax services to small and medium size businesses is our middle name! Feel free to browse our LinkedIn Profile – we’d love to connect with you!

Please check http://www.linkedin.com/profile/view?id=31852705&trk=tab_pro for more info…

History of Accounting

Any business needs to have a proper accounting so that it can not only estimate its expenses and gain but also determine the progress and place in the market. Calculation and accounting have been an integral part of any business since old days. With the first accounting system, known as fiscal system, to today’s accounting methods, there have been a lot of changes in the methods but one thing remained the same and that is the reason behind all these calculations, knowing the actual place in the market and plan new strategies according to it.

During the Mesopotamia period, accounting first emerged in the form of fiscal system. This practice was done to keep a record of all the agricultural trades and development. After this, accounting got some changes in the methods and was done through mathematical calculations. Luca Pacioli, who was a well known Italian writer and mathematician, developed a new way of teaching calculations to young children so that they can start learning accounting from the beginning.

With the span of time, the ways of keeping accounts have been modified. Earlier, there were no facilities like external help or accountants. Now, there are so many financial management services and CPA firms which can help your business in keeping a proper record of all your accounts. If you own a small business, you can have an accountant for doing all the accounts related work. All this can help you in keeping a track of the growth of your business and providing you a better vision for it.

Special REMINDER from Spear CPA

REMINDER: Now at Spear & Company CPAs we are offering a free consultation to go over your business’s tax returns, a value of $500. What better way to save YOU time and money? Please mention Free500 when calling for a free consultation. We look forward to meeting with you!

Please click the link for more info http://spearcpa.wordpress.com/contactus/

WHY SPEAR & COMPANY: The importance of finding the RIGHT accountant to work with and why SpearCPA is the right accountant for you…

We Are Client Oriented. Spear & Company’s clients typically range in size from $50,000 to $5,000,000 in annual revenue.  Because of our extensive experience with a wide variety of small businesses, we can address all of your accounting needs. We pride ourselves in helping our clients deal with problems and questions impacts their business. As a client of Spear & Company, you will be assigned an accountant and a bookkeeper and they will probably stay on your account as long as we work together. We are adept at helping this transition go smoothly.

With our fixed monthly fee, you know where your business stands financially & what your accounting costs will be. As part of our fixed monthly fee, we deliver timely, accurate financial statements to businesses on a monthly basis. We provide monthly accounting services, including consultations on tax and accounting matters, via phone or in the office.

Don’t pay accountant rates for bookkeeping services. A Spear & Company client pays well below what other CPA firms charge.  We charge bookkeeping rates for those services. A full time bookkeeper will prepare your monthly financial statements, prepare all necessary tax forms and prepare your monthly bank reconciliation. Our bookkeepers are qualified and experienced.

Avoid IRS penalties, notices & nasty surprises on April 15th. We speak plain English, not tax jargon. Sure we know all about IRC sec xxx(b), GAAP and FASB rules, but our job is to make sure you know how to make money and save taxes. We encourage each of our clients to meet with us each fall to estimate their tax liability. We will prepare your payroll and sales tax returns and make sure you know the proper amounts to pay and when and how to pay them. If you do receive any IRS notices, we will respond to them at no cost to you.

Weirdest Tax Laws of 2010

From hot air balloons to bagels, 2010 proved to be yet another year in which states and municipalities passed some strange tax laws in a desperate bid to raise revenues and close their budget gaps.Movies: DVD/VHS movie catalogs

 

The Tax & Accounting business of Thomson Reuters has compiled a sampling of some of the year’s quirkiest sales and use tax changes, emphasizing the importance of technology and expertise to help navigate the dynamic sales and use tax landscape.

A few of the “quirky” sales and use tax highlights of 2010 include:

• Candy without flour in Washington:  In June, Washington State enacted legislation that made candy without flour taxable. According to a list published by the Washington Department of Revenue, “Rainbow Whirly Pops” and “Lemon Drops” were taxable, but “Twizzlers” and “Peppermint Bark Shortbread” remained exempt. However, because the law caused so much confusion, and after push-back from voters and large candy makers, Initiative 1107 was passed, repealing the tax on candy effective Dec. 2, 2010.

• Belt buckles in Texas: Every year before it is time to go back to school, several states allow for a tax holiday on school supplies and clothing, with several oddities seemingly infiltrating the exemptions. In Texas, belts are exempt, but belt buckles are not. Cowboy boots and hiking boots are also exempt, but rubber boots and climbing boots are taxable.

• Bagels in New York:  In 2010, New York cracked down on its enforcement of the tax on prepared food, specifically targeting a New York staple: bagels. If you buy a whole bagel and take it home with you, it is exempt from tax. However, if you purchase that same bagel, but eat it at the bagel shop (even without cream cheese), bagel shops must charge sales tax on the purchase price. Apparently, the mere slicing of a bagel kicks your bagel purchase into a taxable transaction. As a result, New Yorkers are paying approximately 8 to 9 cents more per bagel.

• Cup lids in Colorado: Effective March 1, 2010, Colorado eliminated the exemption for non-essential food items and packaging provided with purchased food and beverage items. So, while cups are considered essential, lids are not.

• Hot air balloons in Kansas: On June 30, the Kansas Department of Revenue issued a private letter ruling discussing the taxability of hot air balloon rides. Kansas generally taxes sales of admissions to “any place providing amusement, entertainment or recreation services.” The question was not whether or not balloon rides are entertaining, but whether or not federal law pre-empts the imposition of state sales tax on sales of those rides. Under the Anti-Head Tax Act, 29 U.S.C. Section 40116, states and local jurisdictions are prohibited from imposing fees and charges on airlines and other airport users. The department determined that un-tethered balloon rides where the balloon is actually piloted somewhere “some distance downwind from the launching point” would be considered carrying passengers in air commerce and would be pre-empted by the law. However, state sales tax can be imposed on tethered balloon rides.

• Haunted houses in New York: According to TSB-A-10(11)S, admissions to haunted houses are subject to the New York sales tax.

Tips to avoid Accounting Troubles + IRS Penalties

Any business, whether big or small, has to essentially keep accounts of all the trade. There are some useful tips through which you can avoid the common mistakes and obtain error free accounts for your business. You can obtain the help from the professionals so that you get error free accounts for your firm. Not only for huge business but for small business as well, an expert is needed to solve all the accounts related problems.

The accountant can do all the calculations properly through computer so that there may not be any problems related to handwriting. The most common accounting troubles are calculation errors, missing signatures, and improper position of the numbers, so all these things can be avoided by hiring an accountant for preparing accounts.  Apart from this, there are certain tools like TaxCut or TurboTax which are designed to provide you good assistance in preparing tax initially. Then you can verify those accounts with an expert to make sure that they are properly constructed.

It would be better to take help from the professionals like CPA firms or financial management services, if you are finding problems in doing this task. These professional can handle this task in a much better way and can guide you for all the possible ways of getting clear accounts. Also, you can take help of these professionals for saving yourself from any IRS penalties. You should remember that delay in filing the IRS may lead to heavy penalty from 5% to 25% of the tax per month. So, save your money by being on time.

US Accounting Practices: Need for Hiring a Qualified Accountant

Any business venture in the country relies on best US accounting practices that sustain and enhance the success rate of any company. Accounting, a pivotal aspect of any commercial enterprise is integral for the development and growth of big or small business initiatives. With more and more companies in Brooklyn, New York or any other part of the U.S opting for outsourcing and availing accounting services from an accounting firm or freelance accountants, the need for qualified accountants has become inevitable for business success.

Here are a few reasons for hiring a certified public accountant,

●      The functionalities of the business ventures can be stunted owing to funding problems which are consequences of inefficient accounting practices. A reputed CPA can help the company in NY or any major city to streamline its financial department.

●      The bookkeeping part of a business is vital for its growth and a qualified accountant will ensure that all the financial statements, tax papers and reports are maintained appropriately by the bookkeepers.

●      A certified accountant will monitor the financial resources of the company, the expenditure incurred periodically and ways to curb unnecessary utilization of funds.

●      US accounting practices that are extremely effective related to tax planning are followed by CPAs to ensure financial stability of the business venture. Efficient accountants will also be prompt in filing income tax to avoid late payment fees and penalties.

●      A qualified and certified accountant will also follow best US accounting practices in the field to assess the financial needs for the coming years.

Written by: Spear CPA

US Accounting Practices: Best Practices for Business

Irrespective of the magnitude of your business, accounting is an inevitable function in any business enterprise. Good US accounting practices are essential, if you own a company in Brooklyn, New York or any part of the country. Best accounting practices play a prominent role in making vital business decisions, increasing the company’s capital, availing loans and improving profits. A few best US accounting practices followed in NY and other places are,

● Maintaining records

Bookkeeping, an important aspect of accounting includes maintaining financial records like invoices, withdrawal slips, receipts, bank statements and cheques among others. In the modern world, all the necessary data is stored in virtual forms. Bookkeepers should ensure that the financial records are kept safely along with a back up and are easily accessible. A streamlined process of accounting can be perfect for tax filing and other purposes.

● Efficient accounting systems

The accounting systems vary with each concern since many companies today focus on their core aspects and outsource their accounting to a reputed accounting firm that has a certified public accountant. Some hire a freelance CPA while most of them have accountants working in-house and providing accounting services to the entire company.

● Constant monitoring

Best accounting practices for big or small business firms include frequent monitoring and periodic assessment of the accounts. Many business initiatives engage in managing and monitoring their accounting departments quarterly or monthly and preparing reports on them. Efficient US accounting practices include consistent accounts reviews that allow companies to evaluate their performance and alter their management strategies, accordingly.

Check back often for new articles and financial updates.

Economists wonder whether high unemployment is the “new normal”

In 2007, Phoenix-based Goodmans Interior Structures, one of the Southwest’s largest office-furniture retailers, booked record sales “well in excess” of $100 million, according to CFO Douglas Klein. Asked about annual revenue for this year, Klein says, “We’ll end up half that size.”

Things are tough all over, of course, but this company’s prospects are especially noteworthy because its sales are so tightly linked to the overall employment picture. “Job growth,” Klein states flatly, “is what drives demand for our products.”

In that case, hold on to your Aeron chair. More than a year after the official end of the Great Recession, unemployment continues to hover near 10%, and Goodmans has had to dip into the all-too-familiar recession playbook. It has deferred certain marketing initiatives, reduced travel, shed warehouse space, and, yes, cut the size of its workforce.

For more on this, just click here.