February 2015 - Luxa | Tulsa Payroll Services

Bookkeeping Tips: Getting a Business Line of Credit

on Feb 26, 2015 4:07 AM

Basic accounting for increasing your credit If your business is generally healthy but you still face periodic cash shortages, a business line of credit may be the answer to your financing needs. Or you might receive a large order from a customer and need short-term financing to get a project started…

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Topics: Best practices

4 Vital Questions Answered About An IRS Audit

TEAM LUXA

on Feb 25, 2015 8:00 AM

How outsource accounting prepares clients for IRS audits Many business owners shudder at the thought of an IRS audit. To be honest, it’s no fun but it’s also not the end of the world. Have you ever been asked by your mom “What’s behind your back?”, knowing the whole time you…

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Topics: Reporting

Outsourced Accounting: In The Top 10 Reasons To Outsource

TEAM LUXA

on Feb 20, 2015 3:00 AM

What reasons for outsourcing are there? Have you considered sub-contracting your work to an outsourcing firm and thought “Am I alone in this?”. Many times companies experience the need to handle more growth. Outsourcing has proven to be a model that comes in quite handy for many industry types based on…

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Topics: Outsourcing

4 Vital Suggestions To Follow For An IRS Audit

TEAM LUXA

on Feb 19, 2015 4:04 AM

How outsource accounting prepares clients for IRS audits So you got the official notice from the IRS? Now what? Don’t worry – the process is not as bad as some make it out to be. A quote I read by Robert Baden-Powell describes thoughts on how to prepare: “Be Prepared……

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Topics: Reporting

Is There A Difference Between A Calendar Year And A Fiscal Year?

TEAM LUXA

on Feb 17, 2015 3:50 AM

How outsource accounting prepares clients for IRS audits When applying for your Employer Identification Number (EIN), you will be asked to choose your “tax year”. According to the IRS (www.irs.gov) and the U.S. Small Business Administration (www.sba.gov) here are a few guidelines: (more…)

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Topics: Advice| Reporting

Small Business Bookkeeping Tips: Best Month End Reports To Use

TEAM LUXA

on Feb 10, 2015 4:00 AM

Bookkeeping advice for small business owners One of the keys to successful small business bookkeeping is accurately capturing and analyzing the results of your Company’s operations. While there are virtually unlimited reports and metrics available, it is easy to lose sight of the “big picture” by diving too deeply into the…

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Topics: Reporting

How I Handle My Fear Of An IRS Audit

TEAM LUXA

on Feb 6, 2015 3:04 AM

How outsource accounting prepares clients for IRS audits Before I was asked to start my own agency, I have to be honest, I was terrified of being audited. I am not so great on keeping track of things and it scares me silly picturing “the Tax Man” at my door asking…

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Topics: Reporting

Outsourced Accounting: A Local Tulsa Testimony

TEAM LUXA

on Feb 6, 2015 3:03 AM

Geary Energy describes their experience The value of outsource accounting is told by our local business owner, Frank Geary. We reflect on the services provided and feel sharing this can add how we help local businesses improve their accounting. (more…)

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Topics: Outsourcing

How To Prepare For Getting Audited

TEAM LUXA

on Feb 4, 2015 3:47 AM

How outsource accounting prepares clients for IRS audits One of the letters that makes most business owner’s and accountants heart sink is that from an Auditor’s office (IRS, sales & use tax). Getting audited can be time consuming and stressful. However, there are some steps you can take to make the…