A coach is the person on the sidelines showing the players how to win. A coach is not on the field competing. Very difficult for a business owner to not be on the field and involved with every play. When asked if the problem is a people problem or a process problem most business owners reply it is a people problem. The vast majority of the time it is a process issue. The reality is the people issues are the people are in the wrong seats on the bus. The best salesman in your company is working in the warehouse.
The other issue is what is called "tribal knowledge". A current employee is now training their replacement. Usually the same way they were trained. No processes or procedures are written down. Worst of all is 40% to 60% of the employees time is spent on things that do not generate income for the business.
If you would like more information on this or other ares of your business please call us at KatTax, your QuickBooks, bookkeeping and payroll experts.
Tuesday, November 15, 2011
Friday, November 11, 2011
Sleeter Group accounting solutions conference in Las Vegas.
Kathy Apfel and I spent the last few days at the Sleeter Group accounting solutions conference in Las Vegas. Lots of interesting information about the ongoing changes to the world of accounting technology. One area is the reliance on one software program for accounting. As the requirements increase no one single program can do everything. The new term is "chunckification". No its not a new ice cream flavor but a way multiple software programs process parts of the whole accounting picture and then combine everything into one neat package. One program that provides the figures, another that does the charts and graphs, another that does the payroll and still another that does the projections. All these combine into a package and download it into a "client portal" on our website. Thet way the client has 24-7 access to financial statements and tax returns. They can be printed or emailed as the client needs them from home, office or mobile device.
One other new area is "cloud computing". It means that a company in Texas for example has a building full of servers, a server farm, and they hold all the data and programs for KatTax. All the data is accessed by the internet. As long as internet access is available you can work or print files from any place in the world.
If you would like more information please feel free to call us at KatTax your QuickBooks, bookkeeping and payroll experts.
One other new area is "cloud computing". It means that a company in Texas for example has a building full of servers, a server farm, and they hold all the data and programs for KatTax. All the data is accessed by the internet. As long as internet access is available you can work or print files from any place in the world.
If you would like more information please feel free to call us at KatTax your QuickBooks, bookkeeping and payroll experts.
Thursday, November 10, 2011
Do you pay someone to prepare your income tax return?
Do you pay someone to prepare your income tax return? Here are a few words from Kathy Olsen at the IRS.
If you pay someone to prepare your tax return, the IRS urges you to choose that preparer wisely. Taxpayers are legally responsible for what’s on their tax return even if it is prepared by someone else. So, it is important to choose carefully when hiring an individual or firm to prepare your return. Most return preparers are professional, honest and provide excellent service to their clients.
Here are a few points to keep in mind when someone else prepares your return:
• Check the person's qualifications. Ask if the preparer is affiliated with a professional organization that provides its members with continuing education and resources and holds them to a code of ethics. New regulations effective in 2011 require all paid tax return preparers including attorneys, CPAs and enrolled agents to have a Preparer Tax Identification Number.
• Check the preparer's history. Check to see if the preparer has a questionable history with the Better Business Bureau and check for any disciplinary actions and licensure status through the state boards of accountancy for certified public accountants; the state bar associations for attorneys; and the IRS Office of Professional Responsibility for enrolled agents.
• Find out about their service fees. Avoid preparers who base their fee on a percentage of your refund or those who claim they can obtain larger refunds than other preparers.
• Make sure the tax preparer is accessible. Make sure you will be able to contact the tax preparer after the return has been filed, even after the April due date, in case questions arise.
• Provide all records and receipts needed to prepare your return. Most reputable preparers will request to see your records and receipts and will ask you multiple questions to determine your total income and your qualifications for expenses, deductions and other items.
• Never sign a blank return. Avoid tax preparers that ask you to sign a blank tax form.
• Review the entire return before signing it. Before you sign your tax return, review it and ask questions. Make sure you understand everything and are comfortable with the accuracy of the return before you sign it.
• Make sure the preparer signs the form and includes their PTIN. A paid preparer must sign the return and include their PTIN as required by law. Although the preparer signs the return, you are responsible for the accuracy of every item on your return. The preparer must also give you a copy of the return.
Some good information from Kathy Olsen at the IRS. Kathy deals with those of us who prepare income tax returns for a living. If you have any questions please feel free to call Larry at KatTax 796-1040 ext. 105
If you pay someone to prepare your tax return, the IRS urges you to choose that preparer wisely. Taxpayers are legally responsible for what’s on their tax return even if it is prepared by someone else. So, it is important to choose carefully when hiring an individual or firm to prepare your return. Most return preparers are professional, honest and provide excellent service to their clients.
Here are a few points to keep in mind when someone else prepares your return:
• Check the person's qualifications. Ask if the preparer is affiliated with a professional organization that provides its members with continuing education and resources and holds them to a code of ethics. New regulations effective in 2011 require all paid tax return preparers including attorneys, CPAs and enrolled agents to have a Preparer Tax Identification Number.
• Check the preparer's history. Check to see if the preparer has a questionable history with the Better Business Bureau and check for any disciplinary actions and licensure status through the state boards of accountancy for certified public accountants; the state bar associations for attorneys; and the IRS Office of Professional Responsibility for enrolled agents.
• Find out about their service fees. Avoid preparers who base their fee on a percentage of your refund or those who claim they can obtain larger refunds than other preparers.
• Make sure the tax preparer is accessible. Make sure you will be able to contact the tax preparer after the return has been filed, even after the April due date, in case questions arise.
• Provide all records and receipts needed to prepare your return. Most reputable preparers will request to see your records and receipts and will ask you multiple questions to determine your total income and your qualifications for expenses, deductions and other items.
• Never sign a blank return. Avoid tax preparers that ask you to sign a blank tax form.
• Review the entire return before signing it. Before you sign your tax return, review it and ask questions. Make sure you understand everything and are comfortable with the accuracy of the return before you sign it.
• Make sure the preparer signs the form and includes their PTIN. A paid preparer must sign the return and include their PTIN as required by law. Although the preparer signs the return, you are responsible for the accuracy of every item on your return. The preparer must also give you a copy of the return.
Some good information from Kathy Olsen at the IRS. Kathy deals with those of us who prepare income tax returns for a living. If you have any questions please feel free to call Larry at KatTax 796-1040 ext. 105
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