Getting The Biggest Benefit From Tax Help

Taxes are a way of American life. They are own duty to pay and file. Many people go in search of someone to help them when tax time rolls around. Tax help seems to be in abundance from January 1st to April 15th. Unfortunately, some tax help is best avoided. Other times the tax help is something that many people have no idea how to find. Getting the biggest benefit from tax help depends why you need help in the first place and where you get that help.

Most people seek tax help because they simply can not figure out he complicated tax codes. Every year it seems something has changed and people fear doing something wrong on their taxes and ending up in trouble with the IRS. Many people look at tax help as a way to guarantee an accurate and correct tax return. They also believe they will be able to get more deductions and credits this way, which equals a larger tax return. Unfortunately most of this depends on where you chose to get your tax help.

Trained tax professionals seem like the most logical and quickest way to get tax help. Most people do not know that the IRS offers a lot of useful information for free. They can also help you prepare your return and answer any questions you may have. The new tax preparation software also does a wonderful job of helping into tax preparation services. You enter information in a step-by-step process that is easy to follow. The software handles all the complicated stuff and you only need to enter figures and answer simple questions. 

While sometimes consulting a tax professional is a great idea, often times people get lured in by offers of larger, faster returns. These offers only result in high fees and less of a return. Sometimes there are even untrained tax help that claim they are qualified. This can lead to many problems with incorrect returns that lie solely on you, the filer.

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Once you understand why you need tax help then you can begin to look for someone to help you. If you are just looking for a quick return then try the accounting software that electronically files your return. You should see it within two weeks, possibly faster if you use direct deposit. If you are concerned about understanding the complicated tax codes then you should first seek help from the IRS or another service and then try a QuickBooks software. If all else fails look for a professional service. Make sure you completely understand their terms and fees and do not buy into any catchy advertising.

MAC is one of the most popular and certified tax return and preparation service provider firm. Contact us here tax return and tax preparation services.

Top 5 Accounting Software for Small Business

 Every business has its own business requirement and when they want to complete their requirements, then they need to select best accounting software for their business who help in running the business smoothly.

 

 1) Intuit QuickBooks Accounting Software:

Quickbooks may be a popular full featured accounting and payroll program designed for small businesses – or, I should say, a small business accounting software series. QuickBooks is out there in Basic, Online, Pro, and Premier editions; the professional Edition of this accounting program. Quickbooks Bookkeeping services help you for small business bookkeeping and accounting services.

 2) Simply Accounting Accounting Software:

Full featured accounting and payroll package with all the features and reports any small business needs, including Internet and e-commerce features. This small business accounting software’s data entry screens resemble their paper counterparts, and therefore the screen tips and drag and drop functionality make the accounting program easy to find out.

3) MYOB Plus Accounting Software:

A double-entry bookkeeping small business accounting software with a user-friendly interface and over 100+ financial and management reports. Includes knowledgeable Time Billing Module that's ideal for service businesses and therefore the Office link feature allows direct one click access to MS Word and Excel. Comes multi-user ready.

4) Peachtree Complete Accounting Software:

The Complete version of this small business accounting software program includes over 125+ reports and features like in-depth inventory, time and billing and job costing. The accounting program comes multi-user ready and “value packs” for 3 or more users are available. Peachtree accounting software is additionally available in Premium and First Accounting versions

5) Microsoft Office Small Business Accounting:

The big selling feature of this small business accounting software is integration and thats a reasonably big selling feature if you are already using Microsoft Office. having the ability to reuse data already entered into Excel or Outlook may be a really useful feature and therefore the integration with the Business Contact Manager makes it easy to remain on top of accounts. A slate of add-on services ranges from online payroll through PayPal invoicing.

If you are looking for best accounting and bookkeeping software for your business then you can carefully choose best accounting software with the help of MAC.

Compare QuickBooks Products - Intuit

QuickBooks is a popular accounting software program, but it can be a sizable investment for your company, depending on what version you select.

QuickBooks Online:

If you do not operate your business from a traditional office, you may appreciate the benefits of this version. Although the product is based entirely online, it is safe and secure to use and allows you to work on your company file from any location with Internet access.

QuickBooks Pro:

For startup businesses that are just getting the ball rolling, this is the version QuickBooks suggests. When you set up the software, it provides tips to help you get started and will walk you through importing contacts from an email account or Excel file.

QuickBooks Premier:

This version is well-suited for the business that is not only established but is growing as well. It enables you to modify reports to your specific industry and type of business, such as contractor, retail or nonprofit.

QuickBooks Enterprise Solutions

As the most complete version, QuickBooks Enterprise Solutions is geared toward the well-developed business that needs advanced inventory management, the ability to create complex reports and increased options for employees' permissions within the software.

QuickBooks for Mac

If you prefer to operate your business using Mac computers, there is a QuickBooks version for you as well. QuickBooks for Mac offers all of the features of QuickBooks Pro for Windows except for the ability to create an accountant copy. It also provides many features specific to Macs, such as syncing with Mac OS address books and iCall.

Advantage of Outsourcing Accounting firm for Business

 Whichever line of business you are in, there are tasks which you have to concern yourself with everyday, without having to add to the stress of struggling with bookkeeping, tax prep, and tax planning. For this reason, hiring an accounting firm to do the work for you is something to consider. Not only will the accounting service firm have the expertise in these areas, but they are also going to ensure the accuracy of your books and that they are up to date.

Having an accounting firm professional team work on your company’s books will ensure that all finances are handled correctly year round, and that during tax season it will not be a scramble to get things done on time. Additionally, the accounting services firm doing the finances for your company will relieve stress from the day to day operations of your business, and will take the weight off your shoulders.

Benefits of having Outsourcing Accounting Firm:

Considering the services of an accounting firm is not only valuable to your company during tax season, but should be something that you consider hiring year round. The accounting service will be able to show your business how and where you can save money during tax season, it will handle multiple returns and filing which must be completed, and they can also do the day to day financial for your company, rather than hiring an individual to do it within your office. So, you can save on the cost of labor, as well as having all these issues dealt with on a day to day basis, if you hire an accounting service firm to do the job.

 

The accountants working for you will set up programs in your company’s office, so that you, as well as your employees, can quickly and easily enter data for the financial. Therefore, whenever your accounting firm comes in to check these records, and maintain the books for your company, they will quickly and easily be able to balance the books, and provide financial statements to your company. Whether they are quarterly statements, or if you want them more often, the accounting service will have the data it needs to properly get these financial statements done for you and your business quickly and accurately. The accountants will also file state, federal, and local taxes for your business when needed, and can produce documentation for federal or local taxing officials quickly, in the event your company is ever audited.

 

By Hiring a Outsourcing Accounting firm to do these services, it will change the way your company operates, and will make other areas of your company flow more cohesively as well. From payroll services, to data entry services, to filing all state and federal taxes for your company, the accounting services firm will handle all of these issues. And, the you can check in with the firm as often as you wish, in order to ensure the books and records are up to date. Or, if you want to see a list of current assets and liabilities, a cash flow statement, or any other financial documents, the accounting services firm will easily be able to produce these records, and assist you in areas where they can change the way operations are going, in order to bring in more revenues, or save on the costs or labor and operation in certain areas of your business.

 

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Tips to Finding a Great QuickBooks Bookkeeper

 Over the past few months I have met a lot of people in my area who are looking for a reliable and honest bookkeeper.  I have heard almost all of them state that they had a hard time finding a “good” bookkeeper.  Some of them had even been burned by there previous bookkeeper.

 

Tips to help you Finding a Great Bookkeeper that is right for you:

1.  Finding a Reliable Bookkeeper:

When hiring an outsourced bookkeeper there are a few “red flags” to watch out for.  First, ask the bookkeeper if they have a full or part-time job outside of their bookkeeping business.  Some bookkeepers are employed and decided to start a bookkeeping business to earn some extra cash.  Be wary of this situation.  You want to make sure that your bookkeeper’s first priority is his or her clients.  If your bookkeeper has an employer, chances are that their job will always be their first priority and you may have a hard time reaching them when you need to.  

The other “red flag” to watch out for is stability.  You want someone who is local and has roots in their community, someone who isn’t planning on moving any time soon.  Ask the QuickBooks Certified bookkeeper how long they’ve lived in the area and how long they’ve been in business.  Make sure that your bookkeeper has a healthy and successful business, otherwise they may choose to close up shop and decide to get a full-time job down the road.

2.  Find a Knowledgeable Bookkeeper :

When hiring a new bookkeeper, always ask for references.  Make sure the references are current client’s of the bookkeeper and make sure you can find these businesses on the Internet.  I have reviewed other bookkeeper’s websites and have checked out their list of references.  I was surprised to see that many of the business references they listed did not have websites (or any other web listings for that matter).  This makes you wonder if these are actual businesses.

3.  Finding an Honest Bookkeeper:

One of the complaints I have heard most often is that some bookkeepers overcharge their clients.  This happens when a bookkeeper performs a task that should only take an hour or two but ends up billing the client for several hours of work.  The cause of this could be that the bookkeeper is dishonest or the bookkeeper is just slow.  Maybe the bookkeeper is slow because they are new to bookkeeping and are learning in the process or maybe they are slow in nature.  Either way, you shouldn’t have to pay for your bookkeeper’s short comings.

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The Importance of Updating QuickBooks Versions

Let’s start with defining the three QuickBooks Categories: Product, Version, and Release.  QuickBooks has many different desktop products: QuickBooks Pro, Premier, Enterprise, and Accountant.  Each product has it’s own version: 2011, 2012, 2013, and now 2014.  QuickBooks updates it’s software quite frequently.  This is referred to as “a new release”.

It is very important to update your QuickBooks file to the Newest Release.  QuickBooks creates these releases to improve it’s products.  It is similar to updating your iPhone software of apps.  Most people I know update their iPhone on a regular basis but do not update their QuickBooks software.  Remember…tech companies create updates to improve their products.  It’s up to you if you want to utilize those improvements.

Importance of Update QuickBooks Versions:

I was recently contacted by a local business who was having serious QuickBooks issues.  After meeting with the client and trouble shooting the issue, I was sure that the file was corrupted in some way or another.  The problem was, after verify and rebuilding the data, nothing was coming up with an error.  The file acted like it was corrupted but wasn’t showing that it was corrupted.  I finally checked the release it was on and saw that it was R5.  I searched online for the latest release with QuickBooks Pro 2011 and found it was R13!  This guy hadn’t updated his file in years!  Sure enough, after updating his data file to the newest release the problems vanished.  So remember, if you open your QuickBooks file and a window pops up informing you that there is a new release/update- download that update.

To check what release you are on, open your QuickBooks file and hit F2.  This will bring up the “Product Information” window.  At the top of this window you will see your product, version, and release.   For example, for my business, I am currently using: QuickBooks Enterprise 2013 release 9.

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So remember, update your QuickBooks regularly and upgrade your software to a newer version at least once every three years.

If are working with the Quickbooks and still are using the older version then its maybe harm your financial data or maybe you miss out some Quickbooks features. So, if you want to work with the latest Quickbooks accounting software then MAC is best for you, who offer help you in updating your Quickbooks latest version as well as you can continue with QuickBooks Bookkeeping Services.

The Ultimate Guide to Real Estate Accounting

As a property manager, you probably know that there are a lot of moving parts to real estate accounting. Especially in this industry, bookkeeping tasks can be very tedious because of the large number of state regulations and myriad of transactions.That's why organization is the key to managing real estate Accounting books.

So what do you need to get started? Well, you need a standard process to collect financial information. You need to choose an accounting method. You need to create a consistent filing and tracking system. You need to know how to pay your employees and your contractors. And, periodically, you need to be able to use the financial information you collect to analyze your processes and measure how profitable your properties are.

Who uses Real Estate accounting?

You should be familiar with real estate accounting if you:

• Run a real estate agency
• Manage real estate for clients
• Handle the accounts of a housing association
• Run a building construction firm
• Manage an investment trust
• Provide residential sales

The Ultimate Guide to Real Estate Accounting:

Real estate bookkeeping can be difficult and time consuming. You must follow many state-mandated rules and handle large transactions.

By learning how to complete some real estate accounting tasks, you can reduce the number of hours an accountant spends on your books. Take a look at the following tips about real estate accounting.

Find out your administrative code rules

First and foremost, property managers must follow guidelines for financial management. These guidelines are created by the local real estate commission or state agency.

Your real estate guidelines should shape your accounting practices. Make sure that your real estate accounting books follow the rules administered by your state. You might want to ask a financial professional who specializes in real estate to help you get started with this.

Read More : The Ultimate Guide to Real Estate Accounting

Real estate accounting comes with a lot of different regulations so it’s a good idea to consult an accountant periodically to help you manage your finances.

Talk to a financial professional who specializes in real estate accounting. Along with following the rules, a real estate accounting firm can help you choose a business structure, avoid unnecessary spending, and create reports.