Part 2 - Why hire a professional for tax preparation?

In “Why hire a professional for tax preparation? Part 1” we discussed a few reasons for the same. They included saving money and time, as well as playing it safe. However, we also concluded on a note that there are more reasons to be discussed for one to be convinced of the importance of hiring a professional for tax preparation. You need to understand that you not only need an accountant for bookkeeping services in San Antonio but also for tax related processes.

Therefore, in this second part we are going to explore new reasons to hire a CPA in San Antonio - 

4. The experience of a professional always counts.

Usually, the tax professionals that promise a great tax preparation service have been around in the business of accountancy for quite some time. This gives them an edge in understanding all the nuances that come along in filing taxes. Such nuances are faced by all accountants regardless of them working on a joint, individual, or even business basis.

This is exactly where you let their experience benefit you and your work. Their experience would help you get through the whole process quickly as well as in an effortless manner.
A professional tax preparer would deal with the IRS, if it ever comes to a situation where there are any kinds of questions on your return. In case of you being a self-file, the IRS comes directly to you looking for answers that regard your filing. This means that hiring a tax professional in such a situation is a great idea, since you are not only paying and getting their services, but you get their experience as a big add-on in the event of an audit.

5.  Taking you out of despair

All the above reasons of hiring a tax professional, tell you everything about their special skills and how they can use the same, to give you a great tax preparation service. However, not everyone wants a person, to just barge in, execute the process and go away. After all, this is your money we are talking about. Don’t you want to know why and where is it getting spent? Therefore, you do not need tax professionals only because of what they know. You want them, also because they can explain what they know. Hence, when you hire a professional tax preparer, you are hiring someone who can clear all your doubts, and answer all your questions, no matter how difficult or basic they are.

Therefore, hiring a professional for bookkeeping and tax preparation San Antonio is a great way to go about tax preparation. Get your tax preparation related questions answered by the experts in San Antonio. Call Uhlenbrock CPA at 210-701-1040.

Tracking Self-employed Expenses - Part 2

As we discussed in the previous blog, if you are self- employed then you need to track your self-employed expenses. Of course, you could take the assistance of tax preparation services in San Antonio but before any of that, you need to know how to track your business expenses when you are working for yourself and not an employer.

It is only after this tracking process that you would be able to move on to the next step of corporate tax preparation in San Antonio.

 

Hence, here are the continued tips on how to track your business costs also called self- employed expenses-

Organize it all

In today’s digital world, it would not be a surprise if you get a few of your receipts via e-mail. Now that you are aware of this, you should create one folder in your email that would only be used to store the expenses of the business.

It is a very smart move to store photos of the paper receipts that you receive apart from the e-mail ones. Of course, you should keep these paper receipts in a physical folder as well. However, when you compare the chances of you losing a paper receipt, they are definitely more than you losing a digital copy of the same.

One of the best things you could do for yourself as someone who is self-employment is to record everything. This means taking into consideration each business expense that you make and file the receipts according to that.

All you have to do is make sure not to procrastinate when it comes to such activities.

As a provider of tax services in San Antonio, we know how important it is important to keep your receipts and tax returns for at least a period of three years. This is helpful if you are audited.

Filing quarterly-estimated taxes

Finally, we come to the last step of it. Filing your quarterly estimated taxes is the only way to keep your business costs in an amazing shape. Any kind of failure in filing would result in penalties to the IRS. This is something you would want to avoid in every case.

Paying your taxes throughout the year is the best way to go about it. For more tips like these and the best corporate tax preparation San Antonio, contact Uhlenbrock CPA today!

Tracking Self-employed Expenses

When you are your own boss, there are a number of advantages that come along. It includes being able to set your vacation schedule and even your own hours. With this comes along a high level of flexibility. You can easily work remotely and roam around as you wish to. Sometimes, you might not even have to change out of your pajamas all day!

On the other hand, there are many advantages when working for an employer as well. Walking away from the convenience of a traditional job also takes away; the benefits package including great Tax Services in San Antonio and the steady paycheck. 

However, apart from everything else being your own boss means you will have to pay quarterly estimated taxes. It also means that you will have to track your business costs.

As Tax Professionals in San Antonio Uhlenbrock CPA has some great tips on how to diligently track your self-employed expenses. 

Have a look:

1. Knowing what comes under self-employed expenses

Tax Professionals in San Antonio would tell you that before anything else, it is crucial to understand what comes under a business cost also called the self-employed expenses. The definition by IRS says that those expenses must be “necessary” and “ordinary” to your business.

For instance, on attending a work conference, the expenses of the tickets would come under business expenses. However, getting a spa to relax before the conference would not. On the other hand, the price of purchasing a URL and domain hosting costs for your site’s business would count as a business expense. Deducting the cost of a personal website having nothing to do with the business is something you cannot do.

2. Spreadsheets to the rescue

In your spreadsheets, you could create columns like the item, cost, date, and receipt. You could also make notes about the location of the receipt, like in an email folder, as it was an online transaction.

This process streamlines the process for filing quarterly estimated taxes and helps you track self-employed expenses.

A spreadsheet comes in handy if you are on your own as it is easy and free. However, you may need a little more assistance if you are thinking to grow your business.

Check out some more tips on the subject, in the next blog. Uhlenbrock CPA not only provides the best advice but also the best Tax Services in San Antonio. 

Accounting Basics for Small Businesses

As majorly successful accounting and tax professionals in San Antonio, we are well-aware of how important accounting can be for small businesses. We practice corporate tax preparation in San Antonio and consider it our duty to keep you informed about the same.

It is safe to say that bookkeeping is imperative for any business. If you are a small business owner, then it’s necessary for you to recognize that the best practices that are used by Fortune 500 companies definitely apply to you as well. For success in any size business, the basic accounting principles are important. Disciplined financial analysis and brilliant record-keeping would not only help in monitoring the expenses but also discover bright new avenues of growth for your business. On top of it all, this behavior ensures you to be responsible when it comes to your employees and the tax obligations you hold towards the government.

Tax professionals in San Antonio would tell you that accounting does more than just management of debits and credits. It comes into play quite often in daily business activities and decisions than we may realize.
Here’s how:

• Smooth Operations

By creating a detailed and appropriate budget we can easily discover the inefficiencies that lie within the business operations. This would then lead to solutions and smooth business operations.

• Understanding the Financial Position

Corporate tax preparation in San Antonio would help you understand your financial position better. This would make you realize and spot all the problematic areas that interfere with loans which are earmarked for business expansion.

• Being Alert

Accounting can help you stay alerted when it comes to a sudden change in sales revenues or vendor costs which could further cause major industry changes.

• Monitoring

Proper accounting practices for small businesses can help in close monitoring of the accounts receivable that would illustrate behaviors or trends in the customer base. It could also prove to be very helpful when it comes to cutting down on the costs that are incurred by pursuing late payers.

Tax professionals in San Antonio have observed that often small businesses fail because of the cash flow running dry. This brings forward the problem of not paying enough attention to the accounting of a small business. A good accountant can take care of it for you. For the best services of an accountant including corporate tax preparation in San Antonio contact ‘Uhlenbrock CPA’ today!

Why is it Imperative to Keep Good Accounting Records?

All of us maintain accounting records. But, not all of us do it the way it should be done. Since Uhlenbrock CPA has been providing the services of corporate tax preparation in San Antonio we can tell you exactly why good accounting records are necessary.

Here are the reasons why it's imperative to keep good accounting records:

Efficient Business Operations
Maintaining good records of your business would help you identify all your liabilities, assets, weaknesses and strengths. Once you identify the details attached to these, it will enable you to make much better decisions financially. The records which are accurate also lead to better business forecasting and reporting. Also, the objectives and goals set for the business on the basis of this accurate information are more easily measurable and achievable.

Avoid IRS Audits
As a business owner, you must be aware of the fact that it’s a compulsion for every business to keep a record of all its transactions. As Tax Professionals in San Antonio, we know how these records are used to file taxes. IRS gets an opportunity to audit your company as soon as they spot any flaw or irregularity in these accounting recordings. In short, maintaining good records will assure the avoidance of an IRS audit which can be a big relief.

Prepare Financial StatementsApart from using accurate records for corporate tax preparation in San Antonio, they are also used to prepare an income statement. Even when applying for a business loan, you will need to show these records and they need to be accurate for the same. Proper and flawless records also help you create goals that would lead to the growth of your company.

Stay Organized
As the best Tax Professionals in San Antonio, we have a lot of experience. In all these years we have witnessed multiple cases where businesses lose their organization skills. It usually happens when it comes to working with many different suppliers, vendors, and customers. But, when a business decides to keep good accounting records it makes sure that the accounts receivable and payable in order. Also, in the case of an invoice related dispute, the documentation helps simplify the resolution.

Ultimately, the key to keeping good records is to hire the best tax Professionals in San Antonio. Hire someone like Uhlenbrock CPA who can provide you with flawless corporate tax preparation in San Antonio. Call 210-701-1040 today.

Why business needs CPA firms by Uhlenbrock CPA

Managing business accounts is a tedious and time-consuming! Though basic accounting is simple, it consumes time of the business owner and takes away his focus from other business activities. Choosing a professional accountant to handle your business account is always a smart choice. There are several CPA firms in San Antonio offering customized accounting solutions to suit business needs.

Are you still unsure whether you should hire CPA Services for your business in San Antonio or not? Well, here are the business processes that can employ services of a CPA –

·        Business Accounting – It involves tracking the revenue, profit, cash flow and expenditure of a business. It also involves preparation of financials and cash flow analysis. In-depth analysis of business accounts makes it easy to take strategic financial decisions for the business.

·        Bookkeeping – Bookkeeping is one of the most tedious accounting processes. It involves keeping a daily record of all deposits and checks and reconciling with bank accounts monthly. By keeping track of financial transactions, businesses can outline areas that require attention.

·        Tax planning and preparation – Preparing tax returns for your business can be pretty overwhelming.  Tax preparation is not just about calculating the amount of money that is to be paid in taxes; it also involves analysis of ways to decrease tax liability of the business.

·        Payroll - It involves timely preparation of payroll checks and tax filings. Preparation of payroll checks further involves calculations and processing.

No more number crunching! Employ professional CPA firm to handle accounting for your business. Uhlenbrock CPA is one of the reputed CPA firms in San Antonio. They offer comprehensive accounting solutions for businesses. To know more about their services, call Uhlenbrock CPA at (210) 701 1040.

5 Reasons Businesses should Hire a CPA

Filing taxes, entering checks, maintaining payroll and other accounting tasks can be really cumbersome for a business. But most businesses continue doing these time consuming tasks as they are unsure whether they should hire a CPA or not. Well, it is really not easy to trust someone with your businesses finances or corporate tax preparation but a qualified CPA in San Antonio can be a trusted adviser. 

If you are unable to decide whether you need a CPA for tax preparation services in San Antonio or not, here are 5 reasons why you should hire a CPA –

1.      Tax laws change regularly and it can be difficult for a business owner to keep track of the changes. Sometimes, businesses may miss out on important updates and lose out on tax benefits. Tax professionalsin San Antonio stay updated with the latest tax laws, so they know the best for your business.

2.    Role of a CPA is not limited to tax preparing or record keeping, they offer range of financial services. CPA is one of the most trusted and recognized professional designations. They can also help businesses with planning their financial and business strategies.

3.    Whether you have a small query or need to make a big financial decision, your CPA is going to be available for you. If you opt for any other tax preparation services, they won’t be available after tax filing has been done. Your CPA will be at your service all round the year.

4.    CPA can help you save significant time and money. You can stay assured that you won’t miss any credits and deductions. The time saved can be used in more productive ways like improving your business operations.

5.     When you pay all your bills on time and have clean financial records, it helps in improving the credit rating of your business.

CPAs have a good financial understanding and you can use this knowledge to benefit your business. Hire a CPA for your business today! For quality accounting and financial services, contact Uhlenbrock CPA today. Call (210) 701 1040 for details.