Tax & Business Letter: Winter 2016

This issue’s topics include:

  • Hiring for the holidays? Pay attention to your Affordable Care Act responsibilities
  • Keep your business healthy with a comprehensive annual checkup
  • Are you making the most of your vehicle expense deductions?
  • Get your finances in shape for 2017
  • Use this free tool to proactively monitor your credit
  • This tax break offers benefits and surprises

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Client Update: Spring 2015

This issue’s topics include:

  • Adjust your tax and financial course for 2015
  • Tax “extenders” are extended again for 2014
  • 2015 Tax Numbers
  • Postpone taxes by exchanging property
  • Wealth is just a matter of time
  • Time matters in your business too

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Insero & Company understands that when it comes to your business there is no one-size-fits-all formula to success – and your relationship with your CPA should be just as unique. That’s why we promise to deliver The Highest Standard of client service built on a foundation of frequent communication.
This newsletter is just one of the ways we help you stay up-to-date on tax and financial issues that impact small business owners. From year-round tax planning to tips on how to maximize profits, this valuable resource is a must read.

As always, we hope you enjoy this edition of our newsletter and we look forward to receiving your feedback. Should you have any questions regarding the information contained in the attached materials or our service offerings, please feel free to contact me directly.

Client Update: Winter 2014

This issue’s topics include:

  • Should you treat your home as an investment?
  • Last-minute tax savers for 2014
  • To grow or not to grow?
  • Lending money to family members could be taxing
  • Inform your employees about their total pay package
  • IRS posts taxpayer “Bill of Rights”
  • 2015 HSA limits announced

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Click Here to Download

Insero & Company understands that when it comes to your business there is no one-size-fits-all formula to success – and your relationship with your CPA should be just as unique. That’s why we promise to deliver The Highest Standard of client service built on a foundation of frequent communication.
This newsletter is just one of the ways we help you stay up-to-date on tax and financial issues that impact small business owners. From year-round tax planning to tips on how to maximize profits, this valuable resource is a must read.

As always, we hope you enjoy this edition of our newsletter and we look forward to receiving your feedback. Should you have any questions regarding the information contained in the attached materials or our service offerings, please feel free to contact me directly.

Year-End Accounting Advice for Small Businesses

Can you believe that the end of 2014 is quickly approaching? Before you know it, it will be time to close your books once again and prepare for year end and the next tax filing season. Instead of waiting for the year to close, here are some tips and strategies to think about now that might make the process easier.

Physical Inventory Count

Schedule a date for a physical inventory count. If you carry some type of inventory, scheduling a date at year-end to take a physical inventory count is essential. Many owners rely on their computer generated reports for an ending inventory balance, but the balance on the report may not be accurate or may require adjustments due to obsolescence or quantity and costing modifications

Auto Usage

Do you use your personal automobile for business? This is the time to update and/or prepare your auto mileage logs to document your business usage.

Bottom Line

Take some time to review and manage your bottom line. It’s easy to get busy with the daily demands of running a business. Often times business owners don’t take the time to step back and look at the overall picture. Has your business had significant changes from the prior year? Has your income changed substantially? What impact could these changes have on your tax liability?

Taxes

It may seem like the distant future, but planning ahead – before year-end – can minimize surprises and allow for proactive measures to be taken. Our small business team will work with you to ensure your bookkeeping is in order, understand your overall tax situation, and identify your priorities.

Software

Are you getting what you need from your accounting software? Selecting and implementing the best system for your business is hardly a one-size-fits-all affair. If you have questions about reporting or if you are considering making a switch, give us a call. We have a team of Certified QuickBooks ProAdvisors® who provide assistance and training to our clients from full scale implementations to daily activities. We have extensive expertise with Quickbooks Enterprise, Enterprise Advanced Inventory, Enterprise Advanced Pricing, as well as Quickbooks Premier and Quickbooks Pro.

Our team has systems experience including Sage 50, Sage 300 (formally Timberline), Microsoft Dynamics, Yardi, Macola, MRI, and Intacct.

Staffing

Are you and your staff struggling to cover basic accounting functions or do you occasionally need higher level expertise? Does your team have the right technical knowledge to identify potential issues and/or recommend solutions? Are you spending too much time supervising your accounting functions?

Our experienced team of outsource CFOs, Controllers, Accountants, and Bookkeepers can help provide your business with quality service. We specialize in providing our clients with  the right person in the right position, whether it be a short term, transitional position or a long term arrangement.

Are you ready?

If you answered yes to any of the questions above or have any additional accounting concerns as year-end approaches, reach out to a professional for advice and assistance. Spending less time on your accounting and knowing you’ll have the information you need, when you need it, enables you to focus your attention on the other critical aspects of your business.

To learn more about Insero & Company’s Small Business and Outsource Accounting Services Group and how we can assist you, please contact me at 585-697-9643.

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