We handled state tax returns for clients in 27 different states last year. We also assisted clients in four different countries. Just because you are not in California doesn’t mean we can’t help. If you have questions, concerns or just want a second opinion we are happy to help! 951-652-4600 ...read more
By Prime Path Financial, Inc. May 14, 2014
How do you know your tax preparer is qualified to handle your tax situation? Did you just take their word for it or have you ever asked them for credentials? Did you know only four states have requirements for folks charging a fee to prepare a tax return? Scary thought, huh? I’m not talking about CPAs and Enrolled Agents, I’m talking about the person sitting behind the desk at your corner tax office. California is one of the states that require paid preparers to complete continuing education every year and carry a bond to work as a tax preparer in the state. Don’t assume your preparer in California meets this requirement…verify them! Check their registration at www.ctec.org. CPAs and Enrolled Agents won't be listed so ask them about their credentials. Even with proper credentials, ask your preparer about their experience. Have they done your type of tax return before or handled your particular situation? What was the outcome of that previous experience? Always ask what their plan of action is and how much it’s going to cost! Your income tax return is the single, largest financial transaction you make every year. Picking the right preparer is the first step. When you find one you are comfortable with keep the lines of communication open when you have life changes and talk to them throughout the year. This allows them to help you plan for changes and eliminate surprises at the end of the year. If you do not feel comfortable when speaking to a potential preparer or even one you have worked with before, trust your gut! When you find one that works best for you, keep them forever. ...read more
By Prime Path Financial, Inc. January 14, 2014
My first year working as a tax preparer my boss had a sign on the ceiling above her desk that read, “It’s not up here”. I didn’t get it at first but after a couple dozen clients I understood. When asking clients for how many total miles they drove last year and how much of that was for business the typical response is a look up, turn their head to one side and say “Ummm, about ….” Since they forgot to bring a hard copy of the detailed mileage log they kept for business miles driven, they are accessing a copy that must be stored someplace on the ceiling that is invisible to everyone else but them. Let’s face it, tracking miles is time consuming and tedious but without a detailed, written log of these miles taxpayers are putting their deduction for business use of their vehicle in jeopardy. There are handy books you can buy at any office supply store, expensive devices to attach to your dashboard or even a plain notebook you keep in the glove box will do. It doesn’t have to be fancy; it just has to be written down. With the advent of smart phones miles driven for business practically track themselves. There are many different apps you can choose from to do this but we recommend TaxPocket. This free app is available for both iPhones and Androids and gives you a direct line to your tax professional. Not only can you track mileage with the push of a button, but you can snap a picture of receipts and track other business expenses as well. TaxPocket allows you to communicate with your tax professional by phone, email or direct upload all from the palm of your hand. To connect with the professionals at Prime Path Financial, just enter ID # 07963 when choosing your tax professional. ...read more
By Prime Path Financial, Inc. January 07, 2014
Payroll accountants are responsible for tracking the expenditure of money and assets through a company. Their job is to help companies track their income and maintain a timely payment record for expenses and bills. If you are interested in becoming a payroll accountant, you will have to be... ...read more
Computer files can sometimes be deleted by accident, get lost or damaged. This could be a potential nightmare, especially if these are small business accounting files. You have peace of mind by knowing how to use the "Backup and Restore" function in Microsoft Small Business Accounting. With a few keys... ...read more