Setting Yourself or Your Business Up for Hassle-Free Financial Accounting in 2018

Do you feel like you just finished figuring out 2017, and now you need to plan for yourself or your business in the New Year? Relax; we’ve got you covered. We know that there are many things you need to worry about to kick 2018 offright, and Hall and Company, an Irvine CPA firm, has some financial recommendations to keep you on track.

Understand the Tax Reform Bill

Chances are you spent many weeks watching the political tug-o-war that was happening with the tax reform plan. Now approved, we’ve seen how some companies are benefitting, and even rewarding their employees. While your business or personal portfolio may not be the size of Bank of America, AT&T, Comcast, or Sinclair, your business may be in a better position since the tax bill passed. It also may be in a worse position. The key is in understanding how the tax plan helps or hurts your businesses or personal wealth. If you are unsure, we recommend speaking with a CPA firm that understands tax law.

Embrace Technology

While you may not trust your finances to online software, there are many advantages to utilizing software and systems to manage your billing, revenue, and payments coming in and going out of your accounts. Quickbooks is a popular accounting and bookkeeping platform that many businesses are using today. If you are not certified, you may want to enlist an accountant that is Quickbooks certified.

Hire a Credible CPA Firm

You may understand the nuts and bolts of your business, but how well versed are you in the nuances of accounting and tax preparation? How prepared are you if you or your businesses had to undergo an audit? Just like there’s a difference in putting gas in your car, and rebuilding your car’s transmission, certified public accountants know how all of your finances work well together. Your CPA can help protect your best interests. While there are many accountants to choose from, we recommend looking for a firm that has a long-standing record of success, and one that utilizes experts in a multitude of fields.

Hall and Company is a 35-year Orange County CPA firm, based in Irvine. The leadership has more than 200 combined years of expertise in accounting practices and is well versed on even the latest changes to the tax code. If you need accounting help, Hall and Company can service your needs. Contact us, for a complimentary consultation and learn more about Hall and Company can help you meet your financial goals and live your best life.