Right here is the way you profit from utilizing R R Accountants has the confirmed means to… 1. Assist you get correct monetary statements and tax returns.
R R Accountants LTD is educated to document your year-end changes and put together your adjusted trial balance-the final step earlier than the monetary statements and tax return are ready. Your monetary statements and tax returns are solely pretty much as good as the corporate books that you just give to your CPA. What this implies to your organization? You base vital selections on correct monetary knowledge. You keep away from issues with the IRS or submitting amended returns as a result of your CPA was given inaccurate books. You can provide your financial institution, traders or different events correct monetary knowledge. 2. Discover and proper any accounting errors in your organization’s books. R R Accountants LTD can discover and proper errors in your books, trial stability and financial institution statements. You could have a bookkeeper who can accurately carry out your month-to-month financial institution reconciliation. What this implies to your organization? You keep away from expensive delays submitting your tax return as a result of your books must be redone. You retain observe of money on a well timed foundation. You just be sure you catch errors in your financial institution statements-and errors in your ledger money account-before they value you cash. You may get correct monetary details about your organization any time you want it. three. Do your organization’s payroll. R R Accountants LTD may also help you: ✔ full and file key federal varieties; ✔ keep away from misclassifying staff as unbiased contractors; ✔ save on additional time pay by understanding what paid time to include-or to not include- in additional time calculations; and ✔ keep watch over your outdoors payroll service (in the event you use one). What this implies to your organization? You keep away from IRS penalties-or even worse, limitless IRS correspondence. You assist scale back the prospect of a expensive wage-and-hour audit. You keep away from late-filing penalties and curiosity. four. Maximize depreciation in your monetary statements and taxes. R R Accountants LTD can: ✔ Arrange and keep depreciation schedules in your agency’s property, plant and gear. ✔ Depreciate automobiles, together with worker enterprise v. private use. ✔ Report depreciation in your monetary statements beneath GAAP-and be sure you get all of your depreciation and Sec. 179 deductions for tax functions. What this implies to your organization? You get all of the Sec. 179 and depreciation deductions you might be entitled to. You maximize firm automobile deductions with out inviting an IRS audit. 5. Report and price out your merchandise stock. R R ACCOUNTANTS LTD can: ✔ Report merchandise stock beneath the perpetual or periodic strategies ✔ Price out stock beneath LIFO, FIFO, LCM, weighted or shifting common What this implies to your organization? You all the time know the worth of stock available and keep away from disagreeable surprises in your monetary statements at 12 months finish. 6. Assist you keep away from expensive losses from fraud and theft. R R ACCOUNTANTS LTD may also help you arrange inner controls and is educated to stop or spot: ✔ Worker theft of money or different belongings. ✔ Verify fraud by staff or prospects. ✔ Bank card fraud by prospects.
✔ Many vendor scams. Though inner controls and fraud prevention weren’t a requirement for certification till October, 2004, most CBs licensed beforehand have now taken AIPB’s course on this topic. What this implies to your organization? You decrease or keep away from worker theft. You keep away from being scammed by prospects. You keep away from getting taken by dishonest distributors.