FREQUENTLY ASKED QUESTIONS

We are open 9 am to 5 pm, Monday through Friday, and are located on the south side of Highway 98, across from Whole Foods, and west of Waffle House in the office complex with the green roof.

The more information that a client can provide the better, however, it is preferred if the following could be provided: identification information, copy of most recent tax return and any applicable tax information.

Independent Contractors are responsible for calculating and paying the employee and employer portion of their own payroll taxes. Whereas, W-2 employees have payroll taxes automatically deducted from their pay and submitted to the government through their employer. Employers who misclassify their employees can face hefty fines and penalties due to these tax implications involved. Additionally, independent contractors are not covered for an employer’s liability insurance.

The following link to the IRS website should be referenced if you are unsure as to whether the individual in question should be classified as an independent contractor or employee, https://www.irs.gov/businesses/small-businesses-self-employed/independent-contractor-self-employed-or-employee

We offer a variety of services including personal and business accounting and tax services, as well as, estate and financial planning.
For more information, please reference our services tab at the top of the page.

While there are many reasons to consider outsourcing your accounting, the following are a select few that benefit a lot of clients:

i. Cut down on labor costs – Outsourcing the accounting function saves you money by paying for the service rather than incurring payroll costs to a full-time or part-time employee

ii. Outgrowing bookkeeping – As business grows, time is more valuable focusing on other business functions rather than overseeing day-to-day bookkeeping. Additionally, when an owner can no longer participate in every aspect of their business, it is the point when a business will need more than just bookkeeping but rather management accounting

iii. Minimize Tax Liability – By outsourcing the accounting function, you have a full team of highly skill professionals reviewing your financial information. As such, helping tax planning for your business by making proactive, timely recommendations to decrease your liability

Absolutely, hiring an accountant will lead you in the right direction by using financial knowledge to advise your business plan, explain the legal business structures available and help you choose the best option for your business situation, and assist with the finances and metrics.

It is recommended to retain original documents for at least seven years. These documents include but are not limited to: tax returns, payroll tax records, current employee files, job applicant information, ownership records, accounting services records and operational records.