Protect Your Business Against Payroll Tax Penalties

Over the years, thousands of businesses have been charged with civil penalty for business income taxes and issues with employment taxes. Ignoring the problem will only create more problems in the future. Instead of doing that, it is recommended that you seek assistance and consultation from various companies offering payroll services to customers. If you are a resident of Santa Rosa, you can search for payroll services online to gather information and contact details of the same. A professional tax organization and payroll company has professionals in the team who have deep knowledge on commercial and taxation matters and can [...]

Smart Monkey2022-07-26T01:00:08-07:00March 15th, 2020|Payroll, Payroll Services|0 Comments

What is a Bookkeeping Service?

A bookkeeping service works to develop and maintain a company’s financial processes and ensure there is a proper record of payables and receivables. The service will ensure all financial transactions done by the company are appropriately documented and recorded. Additionally, they manage payroll, handle sales tax, withholding and quarterly taxes, generate monthly financial reports, and reconcile bank statements. A bookkeeping service allows you to get a clear financial picture of your business and helps you see how the business is performing. What are the Duties and Responsibilities of a Bookkeeper? A bookkeeper’s main responsibility is to maintain the general ledgers [...]

Smart Monkey2020-04-02T07:26:28-07:00March 5th, 2020|Bookkeeping|0 Comments

What Happens If You Cannot Pay Taxes You Owe?

The IRS is more powerful than you think. It comes down heavily on people who do not pay their taxes. From property attachment to a jail sentence, tax defaulters can face the IRS’s wrath in several different forms. But what if a person who owes taxes cannot pay due to temporary financial hardship? Will the IRS still wreak havoc on their life? Probably not. If you do not have enough funds to pay your taxes, don’t panic, you’re not alone. Every year some 5 million taxpayers need a payment alternative. Your inability to pay taxes you owe is not the [...]

Smart Monkey2022-07-26T02:39:57-07:00February 27th, 2020|QuickBooks, Bookkeeping, bookkeeping services|0 Comments

Best Bookkeeping Practices That Can Help You Achieve Business Success

Bookkeeping is an integral part of accounting. It involves recording financial transactions and bookkeeping teams support accounting by overseeing the company’s financial data. A bookkeeping team is responsible for maintaining accurate books on payroll, accounts payable and receivable, and must also record daily financial entries and reconciliations. Given the importance of bookkeeping, coming up with an effective bookkeeping strategy should top the priority list of every business owner. Here are some best bookkeeping practices bookkeeping experts swear by. Use an Accounting Software The importance of keeping a record of all your business expenses cannot be emphasized enough. That said, you [...]

Smart Monkey2022-07-22T06:32:49-07:00February 15th, 2020|bookkeeping services, Small Business Bookkeeping|0 Comments

California Minimum Wage Rising to $13 for Larger Firms

On Jan 1, 2020, California increased the minimum wage for workers employed with larger firms (at least 26 employees) in the state to $13/hour. The minimum wage for employees employed with smaller firms has been raised to $12/hour. California has been continuously increasing its minimum wage since 2017. The end goal of $15/hour will be reached by 2023. Around 20 Californian cities already have a higher minimum wage rate than the state’s mandate. Speaking to the San Diego Union-Tribune, Californian Assemblywoman Lorena Gonzalez, a long-term advocate for workers’ protection, highlighted the need for a higher minimum wage. She said that [...]

Smart Monkey2022-07-22T06:34:29-07:00January 23rd, 2020|bookkeeping services, Small Business Bookkeeping|0 Comments

6 Reasons You Should Outsource Accounting

Cash flow is the lifeblood of any business. How businesses manage their cash flow can mean the difference between success and failure. Every business needs a system for measuring, processing, recording, analyzing, reporting, and summarizing financial information. Accounting does exactly that. From preparing and analyzing financial records to computing taxes, accountants perform a number of tasks. Accounting principles and concepts are complex, to say the least. Rather than burdening your employees with accounting tasks, consider outsourcing your accounting to an accounting firm in Santa Rosa. Hiring expert accountants in Sonoma County who specialize in forensic accounting, management consultancy, recovery, taxation, [...]

Smart Monkey2022-07-26T05:35:24-07:00January 13th, 2020|bookkeeping services|0 Comments

It’s the End of the Year – Are You Thinking About Switching Your Payroll Service?

As a small-business owner, it is best to file your taxes quarterly as it will give you a clear perspective of your finances. This is also the best time to assess your payroll service. If you feel that the service is unable to meet the needs of your business or there is something lacking, the end of the year is the best time to switch services. Remember, the end of the year signifies the end of the quarter, and it presents the best time to choose between the different Santa Rosa payroll services. Before you decide to make the switch, [...]

Smart Monkey2022-07-26T03:38:42-07:00December 23rd, 2019|Payroll Services, Payroll Services Company|0 Comments

How to Set Up QuickBooks: Training and Consulting With Virtual Jeannie Bookkeeping Services Inc.

At Virtual Jeannie Bookkeeping Services Inc., we realize the importance of maintaining accurate financial information. When you maintain your books properly and keep them up-to-date, you will be able to calculate the revenue your business generates, the amount of debt the business has accrued, and the profit it has made. This information helps you make strategic business decisions, especially if you are looking to expand your business. Furthermore, when you maintain your books, you will be able to present it to auditors if the IRS audits you. In fact, if IRS questions you, you will be able to check the [...]

Smart Monkey2022-07-26T03:37:55-07:00December 13th, 2019|bookkeeping services|0 Comments

10 Common Payroll Mistakes Small Businesses Make

All businesses need to have a system in place to manage their payroll activities. However, many businesses end up making mistakes while managing the different elements of payroll, which includes paying employees, filing the relevant government forms, and paying taxes. If you run a small business, be mindful of these 10 common payroll errors. Missing State and Federal Deadline Maintain a calendar to report and deposit payroll taxes to federal as well as state agencies. Late deposits incur penalties and interest charges which small businesses cannot afford. Hiring payroll services in Santa Rosa will ensure you never miss a deadline [...]

Smart Monkey2020-03-05T07:46:44-08:00November 12th, 2019|bookkeeping services, Payroll Services|0 Comments

What is Payroll Processing and How Does it Work?

Money is imperative in every single aspect of a business. This fact usually rings true when it comes to shelling out salaries to your employees. Fortunately, you can take the help of efficient Santa Rosa payroll services to ensure proper supervision and well-handling of your business’ payroll, with nothing forgotten. Payroll processing actually refers to the management of various financial records of employees, such as wages, bonuses, salaries, net pay, and deductions. Although payroll processing may seem like a simple and straightforward process, there is a lot more to it. From remitting to the IRS, to wage policies and payroll [...]

Smart Monkey2020-03-05T07:45:38-08:00October 15th, 2019|Payroll Services Company, Bookkeeping|0 Comments