Vehicle Registration Renewal Fee Is Not 100% Tax Deductible

I have seen almost every new client who came to my firm from other CPAs, HR Block, some unknown hair salon or travel agency which also did their prior year taxes, claimed on their 1040 itemized deduction, the full amount they paid to DMV to renew their registration. This is wrong because according to the Treasury Regulations Sec 1-164-3(c), state and local taxes imposed on personal property has to be ad valorem (substantially in proportion to the value of the property) in order to be deductible on 1040. The DMV registration renewal fees however includes other fees in addition to this "ad valorem" property tax.

When I see how almost the whole USA (at least in California) is deducting the full amount of the DMV registration and how there are so many CPAs, licensed or not licensed tax preparers are doing this for their clients, I am in awe. I'm in awe that there are actually so many so-called professionals who are practicing accounting this way. I don't know if they are real ignorant about it or they are just being "aggressive". I have to spend a lot of time explaining to all these new clients why I'm not deducting as much automobile registration renewal fee as their previous tax preparers (which includes their hair dresser whose hair salon also has neon sign blinking "Tax Preparation"). To find out how much DMV fee you can actually deduct, (I think different states call it differently, I only know about California), go look for the line where it says Vehicle License Fees on your DMV renewal bill and you can deduct no more than that. For those of you who still have difficulty finding the right deductible amount, click here and the DMV website will do the calculation for you.

Part time bookkeeper 15-20 Hours Per Week in South Bay CA

Essential Duties & Responsibilities:

• Full cycle accounting, including GL, AP, AR
• Multiple bank and credit card reconciliation
• Post payroll
• Filing & organizing
• Financial statement and cash flow reporting
• Journal entries
• Assist with tax preparation
• Assist with preparation of annual review with outside CPA firm

Must be proficient in Quickbooks, Excel and Word. Applications will not be considered unless you have 2 years experience using these applications. Must be punctual, organized, have reliable transportation, able to think ahead, follow-through, follow-up, and meet deadlines. Must have minimum of 3 references which will be checked.

This job is on a per project basis.

Please email resume for an interview.

Bookkeeping For New Business

With the scarcity of jobs in this economy, we understand that more and more people are planning on creating their own jobs by starting their own business. As experienced certified finance and accounting professionals, we want to give back to the economy by making it easier for entrepreneurs to start their businesses. We are currently having a basic bookkeeping package for start-ups. With a very reasonable fee, we will provide your new business the following bookkeeping service:

• Setup your company on Quickbooks with the accounting mechanism that will manage your business's assets, liabilities, and equity.
• Setup your company on Quickbooks with the accounting mechanism that will keep track of your income, expenses and your depreciation.
• Design and layout a set of general ledger, special journals, subsidiary ledgers and also source documents that your business will use to establish the proper accounting control and accurate reporting.
• Help you choose an accounting basis that makes the best sense for your business.
• Provide you with a bookkeeping manual so you can learn to take over your business's bookkeeping if you want to save money, or you can hire us to continue to serve your accounting needs.

Please email us for a free quote.

Bookkeeping Services For Nonprofit Organizations

Since Non-profit organizations have very different characteristics from the for-profit entities, their bookkeeping system and processes are also different from those of the for-profit entities. Our experienced non-profit bookkeeping and accounting professionals can serve the special bookkeeping and reporting needs of non-profit organizations. The following are the various non-profit organizations that we had served:

• Cemetery organizations.
• Civic and community organizations.
• Colleges and universities.
• Elementary and secondary schools.
• Federated fund-raising organizations.
• Fraternal organizations.
• Health care entities.
• Labor unions.
• Libraries.
• Museums.
• Other cultural organizations.
• Performing arts organizations.
• Political parties.
• Political action committees.
• Private and community foundations.
• Professional associations.
• Public broadcasting stations.
• Religious organizations.
• Research and scientific organizations.
• Social and country clubs.
• Trade associations.
• Voluntary health and welfare organizations.
• Zoological and botanical societies.

To learn more about how our accounting and bookkeeping services can help your non-profit organizations to effectively serve its purposes, please email us or call us at 310-986-8740 for a free consultation.

Key Issues Your Business Must Resolve

All businesses that failed have one problem in common, that is, their accounting systems had failed to help them answer the following questions:

• How can your business best serve your customers while earning a good profit?
• How can your business compete with others for market share?
• How can your business grow while retaining a core of loyal customers?

By applying the basic principles of accounting, our professionals can help you build a well-structured, systematic, and strategy focused bookkeeping system to collect and manage the information you need to address the above issues. Email us for a free consultation.

What Our Bookkeeping Professionals Can Do For Your Business?

Our bookkeeping professionals can do the following for your business:

• Set up a bookkeeping system for your business to keep track of and maintain data that are important to your business.
• Generate financial reports that will guide your business to growth; that can help you identify ways to keep overhead low.
• Generate operation reports that will help you identify solutions to help innovate your business system and customer service.
• Email us or call us now at 310-986-8740 for a free consultation.

Your Business Needs Competent Bookkeepers Like Ours

From our years of experience working with big firms which serve multi-million dollars companies to providing freelance bookkeepings to small business, we have seen one major contrast between big companies and small businesses, that is: small businesses and entrepreneurs very often are lacking reliable financial information about their sales, expenses, receivables, and payables to make sound business decisions. Small businesses often rely on one low-paid do-it-all employee to do their bookkeeping, or worse, hoping their computer programs will somehow do all the bookkeeping accurately. So far, all small businesses that hired us to help them close doors and file for bankruptcies are the ones who have no professional guidance on their bookkeeping.

We just don't think small businesses should engage our certified professionals only when they need professional help in liquidation, and bankruptcy accounting. We prefer them to engage us early on so we can help them avoid disaster, grow and prosper. We would rather help small businesses thrive instead of helping them wind down their business, sell off their assets, terminate their staff and close their shops just to complete the bankruptcy proceeding.

If your small business doesn't have a competent professional bookkeeper do your books and you don't know what information you are supposed to get other than some Quickbooks printouts, then you are putting your business at the risk of financial ruin. We suggest you to email us or call us now at 310-986-8740 before it's too late to save your business.