timothy ferris Archives | Taxgoddess.com

Geo-arbitrage – My New Favorite Word!

I found a great article on the Get Rich Slowly blog that talks about Geo-arbitrage. Since reading Timothy Ferris' Four Hour workweek, this has become one of my favorite new words. Geo-arbitrage is when you earn money in a high-paying currency,…

Time to Travel: Doing That Which You Fear

You must retain faith that you will prevail in the end, regardless of the difficulties. AND at the same time… You must confront the most brutal facts of your current reality, whatever they might be. Coming from two places this…

download transactions / input by hand as needed
categorize the transactions
reconcile & balance the accounts (bank, credit cards, loans)
input all payroll information
reconcile payroll accounts, payments, withheld taxes, etc.
review client monthly correspondence for outstanding items / other questions
review client draw account for business expenses
review business expenses for client draws
allocate meals properly between deductible / non-deductible portions
allocate all items to “classes” if function use in the files
allocate all items to various states if multi-state entity
split other tax specific items (depreciation, amortization, interest, accruals, etc.)
compare to previous month in last year for issues
compare to previous month in current year for issues
review for tax changes needed (raise wages, decrease wages)
review for new asset purchases & properly classify
prepare internal workpapers for audit backup if ever necessary
prepare sales tax & file (if applicable)
review need for 1099’s / w-9’s from contractors – request from client
review against overall tax projections (if applicable) to ensure we are “on track”
Analyze any “over arching” issues (audit flags, etc)
review by senior bookkeeper
review by CPA
send final “all OK” or “need changes” email to client.

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timothy ferris

Geo-arbitrage – My New Favorite Word!

Time to Travel: Doing That Which You Fear

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Tax Goddess Business Services, P.C. - All rights reserved.

Copyright ©

2024

Tax Goddess Business Service, P.C.

-All rights reserved