Author Archives: Simpson Accounting

What it Takes to Have Accurate Financial Statements for Your Business

Half of our business activity comes from cleaning up QuickBooks online accounting, bank reconciliations and financial statements. Oftentimes, we assist business owners with this process for multiple years, if the client has not filed business tax returns for several years. The usual progression for a business owner is they start recording the accounting themselves in […]

Does Your Company Need a Financial Statement Review or an Audit? Be Careful!

During this summer of 2023, it seems the marketplace has had a tremendous demand for financial statement reviews. Only a CPA has met the professional and legal requirements to complete a review of financial statements and provide an official accountant’s review report. Some of the financial statement reviews we are currently working on at Simpson […]

Is it Time to Raise Your Prices? Here’s How to Tell

As the Veteran CPA and someone who works with many small business owners in service industries such as home remodeling, lawn care services, heating & air, etc. this often becomes the most important message a business owner needs to hear: We strongly recommend raising your prices 10% to 20% so that your business can turn a profit. Here […]

Business Owners: Serious IRS Red Flag – Contractor’s Expense and 1099-NEC’s

Knowing who or what companies should be sent a 1099 from your company can be very confusing. On top of that, it can be difficult to determine what type of 1099 should be sent from your company to the contractor or vendor (1099-NEC, 1099-MISC, 1099-K, 1099-INT etc.) The most important 1099’s that need to be […]