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5 Critical Tax Tips For Nonprofits in 2019

No one enjoys filing taxes, but it can be especially problematic for nonprofits. Many nonprofits focus on their cause so much that they neglect proper organization. As a result, they deal with disorganized records and systems, and a lack of clarity around tax issues....


For a business owner, taxes can be overwhelming and cumbersome. Tax deductions allow you to save thousands of dollars each year on your taxes and make tax filing a much more bearable experience. In this post, we'll list some of the tax deductions you can use to...

The Smart Business Owner’s List Of Tax Credits

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PRESS RELEASE: Cassidy Jakovickas, CPA of Fresno, CA Appointed to Intuit’s Accountant Council

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Beyond The Numbers: What We’ve Been Reading

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Looking Back At April

It’s hard to believe that we’re at the end of April, but it’s true! This month, we helped our clients wrap up another great (and busy) tax season. There was, as always, a lot of paperwork, emails, and nail-biting involved in the days preceding April 15, but that’s all...

5 Last-Minute Tips For Filing Taxes in 2019

Well, April 15 is almost here, and the tax-related panic is thick. If you haven’t filed your 2018 tax paperwork and are rushing to get your taxes in by the deadline, we’ve decided to give you some last-minute tax advice that will hopefully help ease your stress....

An Introduction To Cybersecurity for Business Owners

Keeping your sensitive business and customer data secure has never been more critical. Whether you are a small business or a national corporation, you can't relax your defenses against those criminals seeking to take advantage of lazy cybersecurity policies. Virtually...

March News Roundup

Wow! It seems like we just started March and we’re already moving into April! As we move into the final stretch of tax season, we’re recapping this month’s news for you, just in case you missed it amid the tax-related hubbub. MBS Accountancy: November Review This...

3 Ways A CPA Can Make Your Business Successful

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It can often seem unnecessary to hire a certified public accountant (CPA) since bookkeepers and accountants are frequently believed to be the be-all-end-all for a business’ finances. However, there are certain advantages to having a CPA by your side. While we addressed some common myths about accounting in an earlier post, we thought it’d be helpful to highlight three specific ways that a CPA can help your business succeed.

Before we get into the benefits that a CPA can bring your business, it’s important to review the definition of a CPA. As previously mentioned, CPA stands for certified public accountant. The “certified public” accountant is held by individuals who have completed the exams administered by the American Institute of CPAs, as well as met their state’s ethical and experience requirements. In addition to meeting these requirements, CPAs are required to complete continuing education courses in their field to keep their CPA license.

While CPAs can fulfill the role of an accountant, they meet additional requirements related to education, experience, and ethics that make them great partners in general business matters, as well as finances.

Financial Planning

When starting a business, a CPA can help you craft a plan based on data and experience. Given their financial expertise, a CPA can also advise you on the best investments for your business. Taking into consideration your financial capacity and possible risks associated with it, a CPA can advise you on whether or not you should take out a loan. If you decide that a loan is in the best interest of your business, a CPA can also help you prepare the necessary documents for your application.

CPAs can also analyze your business’ performance and point out key performance indicators that you can use to measure your business’ growth and success. If your business sells shares on the stock market, you must have a CPA provide audited statements so your stock’s worth is accurately represented to investors. If you require a Chief Financial Officer (CFO), a CPA can act as your CFO, advising you on all aspects of your business’ finances.

IRS Representation

In addition to tax strategy, CPAs are qualified to represent you before the IRS, if necessary, and help you navigate IRS interactions with discretion and avoid costly missteps.  A good CPA will also help you take proactive measures to eliminate all red flags in your business’ accounting practices and overall policies.

Tax Strategy

Businesses often have trouble deciding between filing as a C corporation, S corporation, Limited Liability Corporation, or sole proprietorship. A CPA can advise you on the appropriate tax structure that fits your business plans or goals. After you’ve decided on the best entity for your business, a CPA can help you gather and file the appropriate documents and paperwork in time for all relevant deadlines.

Because of their ongoing education, CPAs are qualified to help you navigate changing tax laws and business requirements. CPAs can also help you design an effective tax strategy, helping you implement business practices that maximize all of the appropriate deductions for your business. Experienced CPAs will also guide you toward automating your accounting and expense tracking so tax seasons are smoother and more efficient for both of you.



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