What happens when I make an appointment with dcs Accounting & Tax Services

You are ready to make that Appointment with dcs Accounting & Tax, what  are some of the most important things that you should  bring?

1) W-2's
2) 1099's
3) Mortgage Statement
4) 2011 Income Tax Return
5) other specific items may be requested when appointment is made.

At dcs Accounting & Tax we also provide our clients with a Tax Organizer. This also helps  provide us with any other documents that we may need  that pertains to their specific return.    Our clients find this very helpful in preparing for their tax appointment. 

When you make an appointment with dcs Accounting & Tax Maria , will send the Tax Organizer  out to you. She will then schedule a time with you.  We provide daytime, evening and weekend hours for appointments.

What happens at my Appointment?  You will sit down with our CPA, David and he will review the information with you.  He will also answer any questions you have in reference to your taxes and questions about any changes that may have occurred with your tax status like for example: new business, new child, college financial aid, investments and more. The appointment  can take 30 - 60 minutes. 

David is the person that prepares and files the returns. This is a something that does set us apart from many CPA firms.   While he prepares the returns he does keep contact with the client on anything they should be aware or other questions that may arise. Communication is key for dcs Accounting & Tax. 

When we complete the return we will then contact  our client to let them know their return is complete they will come in we then  review the return with them  and then the client will sign a e-file signature authorization which is  required before we transmit any return. 

Also our clients who return to us each tax season receive a report that gives them a summary and recommendations this is something we offer to help our clients plan for the next tax year.

Everything is given to the client in an organized folder with instructions. 

We maintain contact with our clients throughout the year. Through email reminders, phone calls, postcard reminders. 

Also many of our clients will keep contact throughout the year with questions that may arise and also through some other services we provide to them like bookkeeping, Quickbooks consulting(David & Maria are Certified Quickbooks ProAdvisors), Business consulting, payroll, and preparing financial statements. 
The value of what we provide is more than just about filing taxes, it gives you ideas that can save you money,   it is about having some direction on planning for the future too and helping make some important decisions that happen in life when it comes to Tax and finances.

Why should I hire a CPA?

There are many out there that provide Tax Services some you see really strongly from Jan-April are National chains, some are Public Accountants(not certified) and some come in the form of Software you pay for to do your Income Taxes.

There have been  changes by the IRS to keep a strong control on who does taxes that they follow strict standards and requirements set forth which are put in place to protect Taxpayers. Check IRS.gov for what to look for if you hire a tax professional.

CPA's have additional  standards that they must follow and to practice as a CPA in PA. 
-They must have two years (3,200 hours) of professional experience including 800hours of attest activity to become become a CPA.
-Pass a very intense  four-Part exam that tests  in the areas of Financial Accounting and reporting, auditing and  attestation, regulation and business environment and concepts. 
-Comply with a strict code of ethics
-Adhere to high standards of independence, integrity, objectivity and professional compliance
-Completed 80 hours of continuing professional education every 2 years to stay current with new rules and regulations.
-Undergo a peer review every three years for those that provide attest activity with a public accounting firm. 

Many times you will find a CPA is able to act as a CFO for a smaller company that does not have one on staff.   Many times this is very important for many small to mid sized businesses when making decisions in their business and one of the most vital professionals that they can hire. 

Also a CPA is a key professional to have with things that happen in life and making the right financial decisions college planning, financial investing, those who are retired, divorce, bankruptcy, Real Estate investing, dealing with estate planning  and so much more. 

A CPA is someone more than just a professional you use at tax time.  They are a KEY person to hire and the Value they provide is great.

Payroll and your Business

2012 is going to be a big year of changes that will be taking place for Payroll taxes on the Local Level.

  In PA we have Act 32 which there are changes happening with Act 32. One change is  forms that the employer needs to have filled out by their employees. It is called Local Earned Income Tax Residency Certification Form.  These Forms need to be filled out by all employees and kept on file by the employer.  Whenever you have an employee that moves or  is a new employee this form also needs to be filled out by them.  This form is important because it helps the employer determine the rate of tax that needs to be withheld by a PSD Code and EIT Rate. 

Northampton and Lehigh Counties have two different tax Collection Agencies.
Northampton County now has Keystone Collections Group
Lehigh County now has Berkheimer
You will see correspondence coming from these agencies to employees and employers.  It is best to talk to your CPA or Accountant if you have questions. 

Our firm does offer Payroll Services that are very client centered.  What makes us different is you talk directly to us and when you have a change or question we can make that change with one phone call.  If you have a need for specific reports it is as easy as contacting us directly.  We are very flexible to the needs of the client.  Feel free to contact us directly if you have Questions.  We also do training if wish to take care of Payroll on your own. 

2012 will be a year of changes when it comes to Payroll Taxes are you ready ?

Should I hire a Certified Quickbooks ProAdvisor this year?

Why should I hire a Certified Quickbooks Pro Advisor?

1)  Consulting Program-  A Certified Quickbooks Pro Advisor can teach you the correct and most efficient way to use Quickbooks.Also we will help you set up your Quickbooks Program. We also work with Quickbooks for Mac

2)  Accountability Program-  Hire a Quickbooks Pro Advisor for at least one hour a month to sit down with you to help you with questions, problems, and see if you are working with Quickbooks in the most efficent matter.

3)  Monthly Quickbooks  Maintenance Program-  A certified Quickbooks Pro Advisor can help you keep each month up to date and done correctly according to how it should be entered in Quickbooks, it is not just data entry. We make sure your businesses financials are done correctly. At dcs Accounting & Tax our CPA can review reports with you.  With our monthly Quickbooks Maintance Program you will find it to not only help you get your monthly Quickbooks up to date but also give you direction to help you grow your business with monthly reports we provide to you each month for your review. 

The average small business finds our Quickbooks Services to help them with their day to to day business decisions not only to keep them up dated but being a Vital Tool as a small business owner.

Our Prices are very affordable and we work with your budget. 

Is Quickbooks for me?

We get asked this many times is it really necessary for me to use Quickbooks when I am a small business or independent contractor?

How I  usually answer that is with some questions to the business owner. Depending how they answer their questions they can see for themselves if it for them or not.

1) Do you have a method of keeping your business financial records? 

2) Do you have many different places in which you keep this information? Is it all over the place or is it in 1 centralized place you can easily access and go to?

3)  Do you have a way to easily reconcile your business accounts?

4) Do you have a way to compare your last years business to the current year ? Also do you have the ability to have all vital reports at your finger tips when you need it?

5)  Do you have an easy way to look at graphs, customer information, open accounts receivable  invoices, accounts payable, leads, time tracking, mileage?

6) Do you have a valid tool to help you with planning growth for your business by seeing the reports, the graphs the statistics you need from a financial standpoint. Do you have the ability to work up a budget for your business?

7)  Can you see the big picture of your business with what you are currently using, can  you see trends in services requested or not requested, how long does it take for my clients to pay, who are my best clients, what am I currently spending on advertising & marketing, what is my lead conversion rate? Do you have any idea where your business is at today, if you needed to know right away?

These are just a few questions I will ask.  If you wish to have a growing business then it is crucial to have an accounting system that is reliable, up to date, is not time consuming  when looking for important needed information, give you peace of mind and most importantly see where you are going because if you do not know where you are going then it is likely you will be spinning your wheels which can inhibit strong financial growth in your business. 

Banks, Banks and more Banks. How do I choose a bank?

This is a question that we see regularly. What bank is the best?  The questions I ask is what are your personal needs and business needs?   Banks pretty much provide the same products it is the deliverance of that product that is the important piece of choosing a bank.

There are serveral different types of financial institutions

• Credit Unions
• Community Banks local owned and rooted in a local community
• Regional Banks- You may find that the company owns banks in a certain part of the country like in a specific area of the country that may spread across a few states close to the customer.
• National Banks- These banks you find throughout the USA they may refer to their banks as "Stores" because they have many locations available to customers. 

 What are your needs in develiverance  of the service What am I looking for ?

• Do I want a specific person I can call when I have a question?
• Do I need a bank in one specific geographic location or do I need one that I can find throughout the country? Do I want one near my home or business?
• What is your fee structure?  Do I need to keep a minimum balance?  What is that minimum balance?
• Do you use ATM's regularly?  What are your fees? Do I have to use specific ATM's?
• Do I want a bank that has great online Capabilities?  Does it download in Quickbooks or Quicken? Can I see copies of my cleared checks on line? Do I want automatic Bill Paying? 
• What are your hours?  Do you have banks that have Sunday hours? 
• Are the monthly statements clear and easy to read?  Can they be downloaded from online? How long  can I go back and look at my statements on line?
• Will I be in contact with my bank on a regular basis for loans, or other products offered?  Do I want someone who knows my needs and I can sit down and talk to about that?
• Do I want a bank that is good with working with small businesses?  Do they offer workshops, community education, Small Business loans, A knowledgeable person I can work with about my small business needs and questions? 

These are just a few things that you can ask. Banks can provide us with a great service and finding one that we can work with is key in getting the most out of the services offered.  It may be a good idea to get referrals, visit , call and interview several different banks before making a decision on one that works for you and your needs.  It is an important decision one that affects your day to day business and personal financial needs.  Take time to find out more by talking with someone and not just by a radio, tv ad or brochure. The key is what is important to YOU .

The New Year is fast approaching

The New Year will be here before you know it.  Are you ready for year end from a Tax & Accounting Standpoint? 

Here is a Checklist of some Questions to Ask Yourself

• Have you made an appointment to see your CPA for year end planning?
• Do you have your records organized?
• Do have an organized Accounting System?
• Are you up to date with your day to day accounting?
•  Do you have your mileage detail logged ?
•  Have you met with your financial advisor?
• Do you know what reciepts you need to save for your records?
• Is there a piece of equipment you are looking at purchasing to help your business?

These are just a few questions to look at to prepare for the year end.  It is holiday time and it is easy to overlook this important time of year but this is a crucial time for many individuals and businesses.