I have a client with an S Corporation. His CPA told him to pay himself (on payroll) very month 65% of his net income. When I wanted to run the P&L I noticed there's a $1500 difference between accrual basis ...

In California, salaries must be paid at least twice during each calendar month. Wages earned between the 1st and 15th days, inclusive, of any calendar month must be paid no later than the 26th day of the month during ...

When I am working with clients I often find they are not taking taxes seriously. Meaning they are not planning for them ahead of time in order to be able to pay them at the end of the year even ...
  1. Hi there I have been in this profession for over 18 years and I have clients who have been with me for 13 years and still do not review their financials and do ... Read more

A client wants to start offering to cover 100% of health insurance for employees, are there any tax laws that would not allow the company to write off 100% of the cost?
  1. Hi health insurance coverage paid for by the employer for the employees is 100% deductible as a business expense. There are not any laws that I am aware of that ... Read more

As bookkeepers, we have to remind clients for certain statements and information each month. What are some tips for doing this without sounding pushy or rude?
  1. Hi I have found it helpful to create a monthly checklist of items you need and set up an email that is sent out at the start of each month. Now as I'm sure you ... Read more

Recently a client of mine stated her husband and her are getting divorced. They are both partners in one of the businesses I do the books for. As tensions rise, I am in a difficult position ...
  1. I often say I am part therapist and part accountant. When you deal so closely with individuals' personal information and financial information you do tend to be ... Read more

How do i know i have the best plan for E&O Insurance?
  1. Hi, you should work with an insurance professional who can compare plans for you based on your needs and your industry. For example, a tax preparer may require ... Read more