FAQ

12 июня 2019 by Forex Broker simple-accounting.org

FAQ

How much record keeping is necessary?

It’s necessary to keep regular bookkeeping records in order to monitor the business and control the cash flow. It’s impossible to operate a business successfully without accounting activities. If you do so, you’ll fail and have troubles with IRS. Many new businesses and startup company owners consider bookkeeping too complicated and boring. Luckily for you, simple-accounting is ready to help you here. We’re ready to take all your headaches connected with accounting, so that you can concentrate on something more interesting.

How do I know what expenses are tax deductible?

Tax deduction is a possibility, given by IRS, to subtract some amount from your adjusted gross income in some situations. It’s necessary to know when you can and when you can’t do that. The tax deduction can be claimed via a complicated procedure, and many new company owners have no idea how to do that. That’s what we can do, apart from other useful bookkeeping services. We know everything about taxes, so we can prepare tax reports for you, claim tax deduction, when it’s allowable, and decrease your tax liabilities.

What is the best way to maintain accounting records?

Every entrepreneur has to maintain their accounting records in perfect order, if they want to achieve success in their business. But a great number of beginners neglect that fact+ and operate their business blindly, without caring for their bookkeeping. This is a huge mistake, which will be followed by serious consequences.

It’s easy to keep bookkeeping records with the help of accounting software, but still it needs time. The best decision is to outsource bookkeeping to a real expert, to simple- accounting. We are greatly experienced in accounting sphere, so we’ll help you keep your reports and records in a perfect order. With our assistance, you’ll be able to monitor and control your cash flow easily and happily.

How do I create tax forms for my employees and contractors?

When you hire an employee and an independent contractor, you have to pay them and file tax forms. There’s a huge difference between those two categories of people who work for you, and you need to know a lot about it.

Hiring an employee, you file the Form W9, received from IRS. Hiring an independent contractor, you file the Form 1099 Misc, if you pay them over $600. If you misclassify them, you make a serious mistake and IRS won’t be happy about it.

It’s safe to hire someone, who knows everything about payroll and tax management. We, simple-accounting, will assist you in operating your business without any mistakes.

Who you work with?

We work with small businesses and startup companies. Our team is greatly experienced in assisting them to become great and powerful companies, well-known around the world.

How will we work together?

Our bookkeeping process consists of 3 simple steps.

Step 1. You give us the necessary information we will work with. We receive your bank statements, receipts, invoices and all other financial statements, which we will analyze and control. The best choice for transferring the data is DropBox, Google Drive or email.

Step 2. We work with your books, analyze the information, reconcile your bank statements, control the cash flow on your credit card and handle all the bookkeeping tasks that you need us to do.

Step 3. We send you financial reports and financial statements, including balance sheet, year-end accounts, monthly accounts. They’re flawless and tax ready.

Can you work on a temporary basis?

Our work is flexible, we can render our services for you on a temporary or a permanent basis. You decide how frequently we work with your books and prepare financial statements for you. One of our experts can become your permanent bookkeeper or replace your bookkeeper until he or she comes back.

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