Phoenix Arizona CPA | Arizona Tax Accountant | Arizona Income Tax

The Purpose of a Business is to Make MONEY!

And to take it one step further – Not Just Money, but PROFIT – Which is Money left after all expenses are paid.

As obvious as that statement may seem, I know after years of running a Bookkeeping and Tax Service Business, that many business owners keep making the same mistakes that prevent them from actually accomplishing that goal.

Here are Nine of the Most Common Mistakes that Prevent Entrepreneurs from “Making Money”: Read the rest of this entry »

As their trusted advisor, you need quick and easy access to their data.  How do you get the information you need exactly when you need it?  Answer: software application hosting.

Application hosting simply means that registered software, like QuickBooks, resides on a third party server, versus individual desktop or laptop machines.  Having the software on a third-part server allows for easy access from any computer, at any time.  This type of hosting helps business owners keep their accounting software and financial data in an ultra-secure environment where they have 24/7 access and the ability to easily work with their accountant or business advisor. Read the rest of this entry »

There is nothing more heartbreaking than to spend weeks and months, and thousands of dollars developing your bookkeeping, accounting or tax practice and seeing it languish as you struggle to attract new customers and clients.

You have knowledge and experience, and you have a passion that you wanted to share with the world but it was not necessarily what the world wanted to hear.

To avoid the waste of both time and emotional energy caused by failed projects you need to understand the mindset of a client.  Your client doesn’t care where your degree is from, or how good your grades were, they don’t even care if you have a license or certification from the state. Read the rest of this entry »

Adding up every little detail of income and expenditure on a day-to-day basis can be a tiresome job that needs to be done with painstaking effort to ensure its accuracy. Now imagine this job being amplified multiple times – sounds scary? Well, the accounting division of any business whether large or small scale, requires the same dedication and much more effort and at the same time utilizes a great amount of resources, both financial and human. Only a professional qualified chartered accountant can be entrusted with the job of maintaining accounts for any individual or business. As the accounting division employs a huge amount of resources in the form of employees and their salaries and other financial benefits, nowadays more and more companies are realizing the advantages of accounting outsourcing services that can help to save these resources. Read the rest of this entry »

I know you’ve heard it time and time again, in order to manage your finances you need a budget. Everybody knows this is true and still not everybody budgets, knows how budget or knows exactly where to start.

First things first, a budget is a tool it can be as simple or as complex as you want it to be but the end result is the same. It takes away the guess work, eliminates the worry and puts you in control of your money. Read the rest of this entry »

Over the years of working with companies as a consultant and running companies, it has amazed me as to how many accounting personnel within companies and, even worse, how many outside accounting professionals just don’t understand how that business is organized to MAKE MONEY.  I’ve heard from clients all too often initially, I just can’t get the information that I request, or I just look at the bottom line of my financials. Read the rest of this entry »

You’re setting out on a new business venture and you want to set up your brand spanking new company with the best accounting system you can.  At the same time, you’re no accountant and you can’t afford to hire a trained bookkeeper.  What do you do? Frankly, as far as I’m concerned there’s only one answer for the beginner who has little accounting knowledge, but wants to keep a clean set of books with the easiest software to learn and understand and that has a decent backup resource available for when you get in to trouble.  And you will, right? So what do I suggest - Intuit’s QuickBooks is going to give what you want and need. Read the rest of this entry »

As their trusted advisor, you need quick and easy access to their data.  How do you get the information you need exactly when you need it?  Answer: software application hosting.

Application hosting simply means that registered software, like QuickBooks, resides on a third party server, versus individual desktop or laptop machines.  Having the software on a third-part server allows for easy access from any computer, at any time.  This type of hosting helps business owners keep their accounting software and financial data in an ultra-secure environment where they have 24/7 access and the ability to easily work with their accountant or business advisor. Read the rest of this entry »

IRS is like a silent business partner.  They usually accept your annual tax return as a legal record of how much you owe them!  However, like any good business partner, they may have a few questions.

And when your silent business partner ask questions, you may find your self needing a reliable and solid defense system.

One such system cost about $12.00 and can be found at your local office supply store. Read the rest of this entry »

As you start your new professional practice, you have lots to think about, including getting paying clients or patients, and making sure everything and everyone is working properly.  But don’t neglect the financial part of your new practice; if it isn’t working properly, you can’t be successful in your business.

If you want to succeed, you’ll need to create a financial system that clears out the garbage and gives you accurate and useful information to see how you are doing and so you know when to act on this information.  Here are five easy steps in creating a simple financial record keeping system:  Capture, Check, Record, Review, Act: Read the rest of this entry »