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Salt Lake City Bookkeeping Blog

Do You Need a CPA? Find Out How to Choose the Right One

Posted by Leanne Armstrong on Jan 24, 2018 9:00:00 AM

Every business, regardless of size, needs a trusted advisor to help with the planning and achievement of financial goals. As strategic business consultants, Certified Public Accountants (CPAs) have the advanced training and experience necessary to advise on a variety of tax and accounting matters.

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Topics: CPA, Bookkeeping Service, Tax Compliance

Differences Between Bookkeepers, Accountants and CPAs

Posted by Matt Roberge on Sep 22, 2016 9:00:00 AM

If you’re considering bookkeeping services or other financial services, you may eventually see words such as “bookkeeper,” “accountant” and “CPA.” For many people, these words are used interchangeably and refer in general to financial professionals. However, there are important differences between these roles and understanding these variances can help you determine who you need to work with for the best results. If you run a business, knowing which financial professional to call can help you make the right decisions.

The Role of a Bookkeeper

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Topics: Bookkeeping, Bookkeeper, Small Business Accountant, CPA, Small Business

End-of-Year Tax Planning Checklist

Posted by Austin Walker on Apr 6, 2016 8:30:00 AM

Failure to do your tax planning before the end of the year can cost you money. There are methods you can follow to make sure that, come the end of the year, you keep your tax liability low and you maximize your potential outcome by preparing your write-offs and charity donations in advance. We've assembled a quick checklist for this and next year's tax preparations.

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Topics: Small Business, CPA, tax strategy, tax planning, tax liability

5 Reasons You Need A Great CPA For Your Small Business

Posted by Matt Roberge on Jul 23, 2015 7:30:00 AM

If you don't currently have a rock star CPA, you need one right away. When we are dealing with a new SLC bookkeeping client, one of the first things we ask them is whether they have a CPA. If they do, we get their contact info and if they don't, we ask them if they want a referral to one of our trusted CPA contacts. I have learned through my own experience and in working with our clients that a solid CPA is critical to the success of your business. Here are five reasons you need a great CPA.

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Topics: Starting A Business, Tax Preparation For Year End, Tax Tips, Tax Compliance, CPA

The Dog Days Of Summer Bookkeeping Tune Up

Posted by Matt Roberge on Jul 2, 2015 7:30:00 AM

Sitting in Montana looking at weekend temps in the triple digits I felt it was appropriate to write this post. Thankfully over the next two weeks I will be surrounded by cold water; first at the in-laws lake cabin and then on a five day river trip on the legendary Smith river. Early July is a time to kick back for the holidays and stay cool. However, the dog days of summer is also a great time for a bookkeeping tune up (I know fun huh?). The year is half over and it's a good time to see where you are at financially, make key decisions and business pivots, and finish the year strong. Here is what I recommend for a mid-summer bookkeeping tune up. 

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Topics: Financial Forecasting, Financial Reporting, Small Business Bookkeeping, QuickBooks Assets, Reconciling QuickBooks, CPA, SLC Bookkeeping

Business Taxes, When Does It Make Sense To Stop Making Money?

Posted by Matt Roberge on Apr 7, 2014 7:00:00 AM

With the tax deadline rapidly approaching and it's time to finalize your taxes.  I was talking with my CPA a few weeks ago and he had a client ask him: when does it make sense to stop making more money? We both laughed and of course my CPA's answer to his client was spot on... never.  He said until the tax rate is 100% you should never stop trying to make more money, which makes sense to me.  I signed and mailed my tax payments this past Saturday, it definitely hurt.  However, paying taxes is something to be proud of; it means you are doing well.  Today, I felt it appropriate to share a few random thoughts about taxes.

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Topics: Tax Preparation For Year End, Small Business Accounting, CPA, Tax Tips

The Benefits Of Tax Training For Your Small Business

Posted by Matt Roberge on Dec 2, 2013 7:00:00 AM

Today's blog article is a guest post from Sarah Grey who works in marketing at TaxBanter which provides effective professional tax training to businesses of all sizes throughout Australia.  When Sarah has any free time she enjoys shopping, swimming and taking her dog for a walk.

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Topics: Tax Preparation For Year End, CPA, Tax Tips, Small Business Bookkeeper, Bookkeeping Help, Small Business Bookkeeping, Financial Reporting

4 Ways Your Business Bookkeeping Can Actually Make A Difference

Posted by Matt Roberge on Nov 4, 2013 7:00:00 AM

You bookkeeping can actually make a difference in the success of your small business.  Many small business owners fall behind on bookkeeping because they loathe it.  Bookkeeping is an inconsequential task to many business owners until they need it.  Many businesses will put their bookkeeping on the back burner until a situation arises when they need it.  Examples of when you may need access to updated bookkeeping records include filing your taxes, applying for a loan or trying to raise investor capital for your business.  When one of these situations comes up a small business owner quickly learns the importance of keeping an accurate and updated bookkeeping system.  Your business bookkeeping does matter and here are four ways your bookkeeping can actually make a difference.

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Topics: Tax Preparation For Year End, CPA, Tax Tips, Small Business Bookkeeper, Bookkeeping Help, Small Business Bookkeeping, Financial Reporting

Separating Your Bookkeeping And CPA Taxes

Posted by Matt Roberge on Sep 20, 2013 7:00:00 AM

We like to recommend that you separate your bookkeeping from your taxes.  Our firm does not do taxes for several reasons.  First, I don't really enjoy them and they never really interested me.  I was always much more interested in small business owners and entrepreneurs, so we focus on helping them.  Our bookkeeping services are designed to help small business owners from a financial perspective.  We design customized bookkeeping systems tailored to the needs of each client and then show the business how to use their bookkeeping system as a tool to help them make business decisions.   We recommend that a business separates their bookkeeping from their taxes and here is why.

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Topics: Tax Preparation For Year End, QuickBooks, CPA, Tax Tips, Small Business Bookkeeper, Bookkeeping Help, Bookkeeping, Small Business Bookkeeping, Using QuickBooks effectively

Three Reasons To Consider An S Corporation For Your Small Business

Posted by Matt Roberge on Mar 28, 2012 5:00:00 AM

Today's blog post is a guest Blog post from John Briggs.  John is a CPA for Lunsford and Peck and you are welcome to contact him via email.

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Topics: Tax Preparation For Year End, Tax Compliance, Tax Shelters, Small Business Accounting, CPA, Tax Tips, S Corporation, 1099s, S Corp