Good questions, straight answers.
Can’t find yours? Call or message us and we’ll be glad to help.
How do I know what expenses are tax deductible?
Many expenses could be tax deductible. The most common include business start-up costs, supplies, office or business expenses, salaries, travel, rent and more. There may also be deductibles you’re unaware of that are costing you your return. Our accountants can answer further questions when they review your documents.
What is the best way to maintain accounting records?
Find the right bookkeeping system or software for your business. Most programs let you track expenses, income and taxes in one place. Keep a regular schedule for updating your books so you never fall behind. If you need help choosing software, reach out to us.
What are the best ways to separate my business and personal finances?
There are several steps to take, including:
- Applying for an employer identification number
- Establishing your business type
- Opening a business bank account
- Paying yourself a salary
- Keeping separate receipts
For more help keeping personal and business finances separate, reach out to our hands-on accountants.
When should I consider outsourcing my accounting?
If you run a small business, signs that it’s time to outsource include:
- Reaching more than $1 million in revenue
- Growing in size as a company
- Accepting investor capital
- Accelerating your growth
- Requiring sophisticated financial reports for decision making
- Struggling to file your taxes on time and accurately
If you’re overwhelmed managing accounting in-house, consider outsourcing to a professional firm regardless of the tips above.
How can I find an accounting firm near me?
Choose a firm in a convenient location with the proper certifications, successful industry experience and fair fees. If you’re looking for these qualities, you’ll find them at AYA Inc.
How can you help me grow my business?
Accountants are experts at managing money, so they can help you use your resources more effectively: strategic advice, ideas to save money and ways to boost revenue. We also free you to focus on the core of your business, pouring time and energy into what you do best.
What records should I keep?
Keep the following records for at least six years:
- Business expenses
- Sales records
- Accounts receivable
- Accounts payable
- Customer list
- Vendors
- Employee information
- Tax documents
Depending on your type of business there may be more. We’ll help you determine specific guidelines after discussing your situation.
What business expenses can I deduct?
As a business, you can deduct many expenses, including:
- Start-up costs
- Supplies
- Travel
- Office expenses
- Salaries
- Rent
Depending on the nature of your business, there may be other, less common deductible expenses. With more specific information, we can identify them.
How should I prepare for tax season?
Gather all your documents, receipts and personal information and take them to a certified tax preparation accountant. A professional will make sure you don’t miss anything that could result in tax issues or improper returns.
How does better accounting affect my bottom line?
A better professional accountant can monitor and control your finances, helping you make informed decisions about purchases and expansion. We can help create and stick to a budget, track your financial efficiency and find ways to save.
What are the advantages of outsourcing payroll to a service provider?
Outsourcing payroll to our accountants means:
- Saving time
- Minimizing expenses
- Eliminating mistakes
- Guaranteeing code compliance
- Responding to concerns and questions
You’ll have confidence your payroll is done properly, and the expertise to address any questions or problems.