Quickbooks

Happy New Year From DiSalvo & Company

forensic accounting, tax preparation, business planning

It’s a New Year, and I don’t know about you, but I always feel like a new year provides us with a clean slate. Everything that was bothersome about the previous year is temporarily cast aside and I feel like anything is possible. that feeling isn’t often sustainable for a long period of time, but it can pop back up here and there.

Many of our local businesses here in Indian River County and Brevard County experienced rapid growth over the past couple of years and because you all have been so busy, it was hard to spend time looking to the future, or even implementing new processes which could have made things better. But it might be nice to take a few days to stop, breathe and think about what you could do to keep the momentum, while making things work more smoothly. Perhaps there are even ways to increase the profits you make from all of this new business.

With rapid growth there often comes the pitfalls of inefficiency. Perhaps you have simply limped along without a bookkeeper, and without a good software package for tracking leads and closing new customers. Maybe your HR manual is out of date, and your computer systems,, are they running as efficeintly as they could be? Is it time to perhaps invest in your business in order to streamline processes and become more efficient? Do your sales people find it easy to enter orders? Does your back-office personnel have to use different software to track things? Is there one software package that could integrate both, while also being end user friendly?

Sometimes when a company gown too fast, old procedures are patched up enough to keep things going, but they really aren’t appropriate for a larger company, and it could be time to take a moment to look at those things. Talk to your people, if they have come to you from another company, that company may have had some tools which your company could now use. Make certain you get suggestions from the people who will be using the new tools, or you might get push back, which could make any changes less effective.

There will always be people who don’t want to change anything, ever. Here’s hoping that you, as the head of your growing company, are not one of them. Here at Central Comm we are always striving to stay fresh and current, as painful as that can sometimes be. For many folks, even systems that now longer work properly can be more comfortable than learning a whole new way of doing things. But most of the time, once you get past the learning curve, you can find that a different way of doing things which takes advantage of new software or hardware, may make your work life easier.

Pete DiSalvo

Vero Beach Certified Public Accountant

CPA – DiSalvo Logo

 

Payroll Services for Your Company

Payroll Services Vero Beach, Titusville, Melbourne

Here at DiSalvo and Company we not only offer tax and financial services, we also offer Payroll Services. Payroll entry for a growing company can be a headache that just doesn’t go away with aspirin. There are  each employees wages and time sheets to track. Taxes need to be withheld and companies are also charged with paying their own portion of taxes. In some instances 401k contributions, savings and other deductions must also be carefully input.

If you don’t have someone on your staff who has been properly trained on how to process payroll, their could be costly mistakes made and lots of frustration. For many small businesses payroll is an inefficient and overwhelming task that can require resources your company can’t afford to invest. Outsourcing this critical function can actually save your company money and lighten your work load.

At DiSalvo And Company, P.A., a Vero Beach CPA firm, we’ll ensure your employees get paid on time and your payroll taxes are prepared and submitted on time. Don’t waste another minute trying to figure out confusing federal and state payroll tax laws. Our expert payroll solution is designed to ease your burden and free up your time to manage your Vero Beach business.

Our payroll services for small businesses include:

  • Preparing the payroll
  • Preparing W-2s and W-3s
  • Preparing 1099s
  • Federal and state payroll tax filings
  • Worker’s compensation audits
  • Unemployment claims

We customize our payroll service in order to meet the needs of your business.  You no longer have to be concerned with  penalties or late notices  or just the weekly headache of Payroll.

Pete DiSalvo, CPA

Vero Beach, Melbourne, Titusville

Vero Beach Certified Public Accountant

CPA – DiSalvo Logo

 

Tax Advice From A CPA

Vero Beach Certified Public Accountant

CPA – Front Side

This time of year can be exciting for some, and frustrating for others. For us CPA’s and Tax Accountants it is a little bit of both. It’s exciting when we get Income Taxes filed for our clients. All done and buttoned up nicely. It gets frustrating when our clients only give us half the information, or only parts of the information necessary to file a complete tax return.

At DiSalvo & Company CPA when you are a regular client, we can take what we know from past Tax Returns and use that information to help fill out the current returns. If you are a relatively new client, then we don’t know that much about you yet.

We know that if you want to lower the amount you pay in taxes, then it’s a good idea to fund your IRA or 401k. If you have been actively looking for work there are also certain deductions we can take, that is IF you have kept records.

Have you moved recently for a new promotion or job opportunity? There are expenses relating to relocation which are deductible. According to the IRS.Gov site:

” The distance between your new job and your former home must be at least 50 miles farther than your previous employer is from that home. For example, if your previous commute to work was five miles each way, then the distance from your new job location to your old home must be at least 55 miles.”

“The deduction covers the reasonable expenses you incur to transport your personal effects and household items to your new home. You can even include the cost of renting a storage unit for up to 30 days if you are unable to move into your new home immediately after leaving your former home.

“You can also include the cost of traveling to the new location for yourself and other members of your household. If you drive to the new location in a personal vehicle, you can include the actual cost of oil, gasoline, parking fees and highway tolls. In lieu of using the actual cost of gasoline and oil, the IRS permits you to calculate those costs using the standard mileage rate. For long-distance moves, you can deduct the cost of airline and train tickets.”
At one of our offices we can offer professional advice about what deductions you can use to make certain you only pay the amount of income tax that you should.

Pete DiSalvo CPA

Melbourne - Titusville - VeroBeach - Certified Public Accountant

 

 

 

 

 

 

Book Keeping

forensic accounting, book keeping, tax preparation

It’s here again. Tax time. At DiSalvo and Company, PA, we are always grateful to our clients who take bookkeeping seriously. Those are the clients who’s tax returns are much easier to prepare. Everything is in the books. Expenses, properly categorized, income, also properly categorized. All in one place.

Not all of our clients take the time to do their own bookkeeping,or spend the money for a bookkeeping service, and that is a shame. Because in the long run, if you take the time to properly do the books, when you want to see what your financial picture is, it can be done with a keystroke. When its tax time, you won’t need to spend a whole week preparing for your appointment with us.

Managing cash flow is difficult when your invoices are not promptly sent out each month . So rather than doing them by hand, you might want to set up a bookkeeping software program. That way you only have to enter the specific charges for a regular client. If you have a new client, you enter their information one time, and then next time you need to invoice them, you just type in their name and the invoice will populate for you.

If you need a loan for your business, all the data is there, just print out a profit and loss and you could be ready to go. When you are trying to build a new business plan for the year, you can see where your money went over the past year. Advertising? Promotions? Website? All of those expenses are there.

At DiSalvo and Company, we use Quickbooks. Our staff can train you or your staff on how to use Quickbooks, and make your business life less stressful.

Happy Thanksgiving!

From all of us here at DiSalvo And Company, PA

We extend Good Wishes!! DiSalvo And Company, PA  

Tax Breaks for Military Personnel

veterans and accounting vero beach, melbourne, titusvills

Members of the Armed Forces put their lives on the line to defend our country and the values of freedom all over the world. For that they are offered a few incentives, like the VA hospitals and base housing, the GI Bill.

There are also tax breaks for Military personnel that not all Veterans and Active Duty personnel may know about.

For Example Military personnel who are on active duty in a combat zone are entitles to extensions on their tax returns. There are restrictions to this, so give us a call if you have a friend or family member in a combat zone.

If you have left the military and are entering the civilian work force, you may be able to deduct a portion of your job hunting expenses. Keep your receipts and a log of your various appointments for when it comes time to file your tax return.

When in a combat position, you are entitled to a higher compensation, or combat pay. Your W2 should only reflect your regular pay and deductions, not your combat pay.

In the state of Florida, disabled Veterans are also entitled to certain tax breaks on the real property as well. And many companies who are hiring are giving preference to our men and women who have served in the military.

 

 

Pete DiSalvo

Vero Beach Certified Public Accountant

CPA – DiSalvo Logo

Juggling the Demands of a CPA & Family

business advice, book keeping, quickbooks consulting, new business owners Vero Beach Who among us does not know of a CPA or Tax Accountant whom you never see from December to April 16th? In our firm many of us have families and during Tax Season it is extremely difficult to carve out the kind of family time  we would normally have the remainder of the year. From Accounting Today, a post written by CARL ALLEGRETTI hit a nerve with me. Not all of you reading this will be accountants, but man or woman, Mom or Dad, we all have those times when work gets busy and it is difficult to balance the demands of work and the time we need with our families and children.

1. Set thoughtful priorities: As busy season comes around, your time becomes more and more precious as client work increases and deadlines need to be met. With all the demands on your time, something has to give. Focus on setting thoughtful priorities—both at work and in your personal life.

To find the right balance, I look closely at what my top priorities are in and out of the office. For me, family comes first. In order to find the time to coach and attend my sons’ sporting events, I stopped playing golf because I couldn’t justify the amount of time on the course.

2. Plan ahead: Many of us are great at planning when it comes to work. We have a laid out plan for all the things we want to get done. This approach becomes all the more important during busy season.

Don’t forget to also plan for personal time, which isn’t always easy given your professional demands. With careful planning, anything is possible—and that includes using your vacation time before and after peak periods of work. Like an elite athlete, we all must rest, recuperate and reenergize during the year.

I found that when I acknowledged that my personal life was as big a priority to me as my career, it became much easier to effectively plan my life outside the office. I now schedule my calendar up to a year in advance to make sure my personal and professional priorities are locked in.

3. Personal health: Taking care of yourself should be a big priority. If you are not healthy, juggling multiple tasks can become difficult. Getting enough sleep, eating right and keeping active are important in managing stress. The number one way to train the brain is physical exercise, and studies have repeatedly shown that physical activity keeps your brain healthier and stronger.”

Take the time to make a plan for your busy time. Don’t forget to carve out some time for your family and yourself no matter how busy things get.

Pete DiSalvo

CPA

Melbourne - Titusville - VeroBeach - Certified Public Accountant

 

Dr. Google and Medicine

Medicine, and the practice of, has not been keeping up with the rest of the evolution in internet applications and technology that we hear so much about each week. Take a look and see what you think of this article from Forbes Magazine:

” How Mayo’s “Dr. Google” Deal Disrupts Medicine

Dr. Google GOOGL +1.27%” has joined the Mayo Clinic, quietly signaling a powerful disruption for all of medicine.0413_companies-google_650x455

Back in 1997 I wrote: “The information age is to medicine as the Protestant Reformation was to the Catholic Church.” The Church didn’t disappear when information once held tightly by the priesthood became widely available, but religion changed forever. Continue reading

Before You Start Your New Business!!!

business advice, book keeping, quickbooks consulting, new business owners Vero BeachStarting your own new business can be an exciting thing to do. Running your own new business is not always exciting. So listen up. BEFORE you start you new business, take a month to plan and put certain things in place.

Write a business plan, not necessarily a complex one, but one that outlines what you would hope to accomplish in the next two to three years. Put money in the budget for advertising and marketing, and for your accounting and bookkeeping needs.

Yes, you can do those things yourself, and no, most small business owners should NOT do their own book keeping and accounting. If you are an expert in marketing, I can almost guarantee that you are not someone who is going to relish spending time with receipts and payroll. So hire someone to do that and take that money away from your projected earnings right off the bat.

We offer a FREE consultation for those of you who are considering opening a business, or expanding your current business. Here are just a few of the things we help you with:

Choosing the right name for your new business.

Whether you should incorporate or not.

Partnership agreements

If you do incorporate, should it be in Florida, or in another state?

How to minimize your Taxes

What are the best banks for your business.

What payroll service is best, and what are the guidelines for a company such as yours?

If you are already using Quickbooks, and are frustrated with it, we can help with that as well.

DiSalvo and Company has locations serving clients from Vero Beach, Port St. Lucie, Palm Bay, Melbourne, Fort Pierce, Sebastian, Micco, Fellsmere, Titusville, Merritt Island, Cocoa, Viera and Rockledge, to St Lucie County, Martin County and Brevard County.

 

Melbourne - Titusville - VeroBeach - Certified Public Accountant

 

Why Does February Only Have 28 Days?

Did you ever wonder why February only has 28 days? I mean why not borrow a couple days from greedy months that have 31? Did you ever ask how leap year came about. Here is a short video you might enjoy. It answers these, and many more good questions about the modern calendar.

This video is brought to you by the fine folks at DiSalvo and Company, CPA in Vero Beach, Florida. The team at DiSalvo and Company is constantly asking ourselves questions like these in an attempt to find new ways to make life easier and better for our clients in their business. If you would like to see if the team at DiSalvo and Company can make your business life a little easier please give us a call today at (772) 770-6008.

Melbourne - Titusville - VeroBeach - Certified Public Accountant

Quickbooks training – Vero Beach, Titusville, & Melbourne, FL