Unalp CPA Group, Inc.

09/11/2024

If you are an S Corporation owner/shareholder, make sure you understand what basis in your S Corp means. If not, you may make mistakes that ruin your personal financial situation. I explain it below.

09/10/2024

Reminder: Only 6 days left to file the S Corp, LLC or Partnership 2023 return that was extended on March 15, 2024. What if you are not ready? See below.

08/18/2021

Many couples started to get money in their bank account for the Child Tax Credit. Did you? Are you wondering if you should opt out?

The attached article explains the thinking of why you may want to opt out to get the full credit next year.

If you want to opt out - you can opt out using this website - https://lnkd.in/g4XHf8F . Taxpayers can also update their personal information, such as their income or number of children, via the portal.


https://lnkd.in/gKgPWnK

Why some families may want to opt out of the child tax credit payments starting in July
cnbc.com • 3 min read

For some families, it may make more sense to claim the enhanced child tax credit as a lump sum when they file 2021 taxes instead of monthly payments

08/17/2021

Are you a business owner or manager that does not trust your accounting/bookkeeping?

Does this lack of trust keep you up at night worrying that you don’t know your numbers or can’t project your future cash flow? Do you want a business crystal ball?

Hiring Unalp CPA to do your bookkeeping/accounting will allow you to rest comfortably knowing your numbers are right, that you are paying the minimum amount in taxes, and you will be able to see your cash flow one year into the future.

We work with Sage Intacct, Xero, and Quickbooks Online. We give you the best technology to allow you to run your business effectively and efficiently. We also are experts with Bill.com and Expensify. Check our website out below.

https://unalpcpa.com

Welcome to Unalp CPA Group, Inc. We are not your typical CPA firm.

08/14/2021

Wow!!! I have had three clients in one week who started using Quickbooks Online (QBO) - two had bookkeepers and another one was DIY. All three had their books so messed up that our firm is having to repair their books.

In all three cases, they would have paid significantly more in taxes as QBO was duplicating certain payments from customers. Payments were recorded against client invoices, and, in some cases, went to sales/revenue or duplicate payments were stuck in Undeposited Funds.

QBO is deceptive in how easy it looks. Our firm prefers Xero in many cases because the likelihood of these problems occurring is less, however we also work with QBO.

However, if you don't know what you are doing - please don't DIY. It is like trying to operate on yourself. Also, if you are going to hire a bookkeeper, make sure they know what they are doing. CPA's have an obligation to our clients and we are concerned about clients overpaying on taxes, because, in most situations, we are also doing the tax returns.

If you want to have a conversation about the correct accounting system or how much it would be to outsource your accounting to a firm that makes sure things are done right, please contact me.

08/09/2021

Do you know the differences between a Roth 401K and a Traditional 401K?

I have tax clients that will ask me the differences between the two. If you don't know, here is a great article which summarizes the differences.

When saving for retirement, investing in either a traditional 401(k) or a Roth 401(k) is a smart idea. But they aren't exactly the same.