Declare Your Independence … from the Financial Details

Declare Your Independence … from the Financial Details

Do you smell that? That heavenly unmistakable aroma of charcoal grills, freshly cut grass and sunscreen mean summer is here. And with it comes the promise of freedom — of course, America’s freedom, which we’ll be celebrating this summer, but also freedom from the grind of school, the day-to-day routine, and those snow tires (fingers crossed).

Summer represents everything small business owners are seeking when they first start their businesses: the freedom to travel when they want, to be their own bosses, to do their work how they choose at any time they choose. If you want to spend your Tuesday fishing the Truckee River, lying on the beach at Sand Harbor or taking your kids to Disneyland, you’ve earned the right to do it. That’s the biggest perk of owning a business, right?

So why stare at a mound of paperwork and worry about how the billing, payroll, expense tracking, and tax reporting will happen if you hit the road?

Instead, here’s some advice: Close your eyes; breathe in that glorious air; envision your next summer adventure, and declare your independence from your books.

While you’re stocking up on sparklers and packing your picnic basket for Independence Day, celebrate your own freedom from the financial minutiae of running a business.

That’s exactly why we’re here.

The whole reason Ludmila CPA offers a full suite of small business solutions is to enable small business owners like you to focus on their passions, grow their businesses, and, yes, to enjoy the perks of self-employment. We want you to enjoy your summer! (After all, we waited long enough for it!)

As a business owner myself, it’s important that I be able to take the occasional day to be with my family or to travel. Every business owner should do that, but you can’t when a rapidly growing pile of paperwork is sitting in the corner, filling you with dread and anxiety.

You may think it’s a wise decision to save money and handle it all yourself, but trust me when I say the small investment you make in hiring a professional to take that burden off your plate will provide endless returns in the form of improved mental health, quality time with your family and friends, and even improved revenues now that you have more time to focus on your business.

A lot of programs out there these days advertise that you can “Do It Yourself!” But is that a benefit? Aren’t you busy enough? And wouldn’t you feel better-having professionals give it their undivided attention? If you’re not quite ready to turn over the reins completely, we understand. We can still recommend applications that could complement our services and make your life easier. You’ll still reap the rewards of efficiency, time, potential money savings, and the opportunity to catch errors or even fraud.

While you should be able to disconnect from your work sometimes, you might feel more comfortable knowing that our cloud applications for bookkeeping allow you to check in from wherever you are — whether that’s your backyard or Timbuktu — anytime you wish.

Our wide range of small business services includes:

Schedule a meeting today and talk to us about how we can help — we’re happy to customize a plan that enables you to hand over to us only those tasks you’re ready to let go.

Then go celebrate your freedom!

Tips for Personal Tax Prep – Making Tax Season Less Taxing

Tips for Personal Tax Prep

We understand. The whole idea of hauling that box of papers out of the closet, sorting through them to decide what’s important and what’s not, pestering people to collect whatever documents are missing (and not being quite sure what those might be), then heading to the accountant’s office with frazzled nerves as you fear the worst outcome … tax season is rarely anyone’s favorite time of year. Trust us, we get it. We Make Tax Season Less Taxing

For some folks, going to the accountant is like going to the dentist: You dread it enough that you only go when you absolutely have to, and you spend the whole time there with a sinking feeling that you’re about to find out something bad.

The problem with that approach is that there might be something that’s a tiny issue now, something that’s easily fixable with a few adjustments, but it could wind up being a major issue next year. Avoiding your CPA doesn’t prevent the issue; it just makes it worse. (Also like the dentist.)

At our offices, we tend to only see some clients when there’s a huge problem. Maybe a few years ago they thought it would be easier, less scary, to have their friends do their taxes. Then they wind up sitting in our office, terrified because they owe a $4,000 penalty to the IRS for gross income omission.

Had they made the small investment in a CPA, they would have benefitted from a knowledgeable expert spotting such an oversight early on and correcting the mistake—or, at the very least, helping them to anticipate and mitigate the consequences. Paying us for an hour of our time buys you peace of mind. And trust us, there’s nothing more valuable than that.

We’re firm believers in surrounding yourself with professionals. You shouldn’t diagnose your own illnesses, you shouldn’t fix your own electrical system, and you shouldn’t manage your own stock portfolio—not without experts in your corner. And you shouldn’t file your tax return without insight from a trained professional, either.

We also won’t need you to bring in that dreaded box. When you call us and schedule an appointment, we’ll let you know what things we’ll actually need from you—and it won’t be as much as you’d think. At our meeting, we’ll go through your document package together, and we’ll let you know if anything’s incomplete, doesn’t look right, or is missing. Don’t worry about being perfect; no one expects that. We’re in this together, and we know that you’re not an expert. We’ll talk you through what’s next and make filing your tax return as un-scary a process as possible.

Then comes the most important part of the meeting: planning next year. The more thought you put into next year’s tax filing, the more rewards you’ll reap. Next year, we will remind you it’s tax preparation time to help you collect the documents you’ll need and to schedule a meeting. And then we’ll debrief—what went well, and what didn’t? What changed for you? What adjustments should we make in response? What are your financial goals, and how can we help you reach them?

Are you convinced? The April 15 tax deadline is fast approaching, so contact us today to schedule an appointment or to discuss any concerns you may have. We’re ready to help you make tax season a whole lot less taxing.

Are you a small business owner? Check out our tax prep tips for your small business!