Wednesday, December 16, 2009

Working with a Virtual Accountant?

A virtual accountant is an accountant that provides accounting and finance services to small business clients via a virtual or online environment on a contractual basis.  By utilizing advances in technology as a way to communicate and deliver data, a virtual accountant can assist small businesses owners with all areas of accounting and finance in a safe and secure environment.

If you're a small business owner who is overwhelmed with running your business and trying to do your own accounting you are finding that one of the two tasks is being neglected.  Consider outsourcing your accounting functions to an expert so that you can focus on running your business.  By outsourcing your accounting, you can rest assured that your finances will be in the hands of an expert. 

A virtual accountant can provide you with various levels of accounting expertise without the hassle of having to schedule in person, face to face meetings.  You can use Skype to schedule face to face meetings from the comfort of your home office.  Skype uses your internet broadband connection to make free voice and video calls via the internet.  This service requires that you download Skype's free software which will allow you to talk, send instant messages or make video calls to other Skype users. Skype also allows you to make phone or mobile calls for affordable low rates.  It's this type of technology that makes interacting in a virtual environment convenient and easy. Also if your computer doesn't come with a built in web camera you will need to purchase one to take advantage of the video calling feature. 

To work with a virtual accountant, you will also need a way to transfer of documents. My clients prefer to scan documents and send pdf files. This is the simplest and least expensive way to transfer documents to your virtual accountant.  Most small business owners already own a scanner that is used to scan documents.  As your business grows and your transactions grow then a document management system may be preferable.

A reliable accounting system that provides a way for the accountant and small business client to exchange financial information is also needed to work in a virtual environment.  Quickbooks is one of the most popular small business accounting systems on the market today. It also has the capability of ensuring that a small business owner and accountant can work together successfully in a virtual environment.

Depending on your individual needs we can design a plan that will fit your needs and most importantly your budget. We find that most small business owners need assistance setting up their books correctly and a monthly or quarterly review of their books.  While other small business owners require assistance with all aspects of accounting as well as business consulting and planning services.  Depending on your particular needs we can set up a plan that is beneficial for your individual business needs.  We offer a free one hour consultation.  Visit us at

Turbo Charge Your Business QuickBooks Accounting Software. Buy Now and Save Up to 20% + Free Shipping.

Friday, November 27, 2009

Business Entities - What is a LLC?

The Limited Liability Corporation is governed by Subchapter K of the Internal Revenue Code.  It is a hybrid business entity that provides its owners with the limited liability of a corporation and the tax benefits of a partnership.  For tax purposes, a LLC is a "flow through" entity in that all profits, losses, gains and deductions "flow through" to the individual owners'/members' individual tax return. If the LLC is properly formed and operated according to the state law then the members are not personally liable for the debts and obligations of the business.  This particular entity must have at least two members but some states allow single member formation.

An operating agreement is usually adopted by the members detailing company operations, distributions, transfer of interest, and liquidations.  All members may elect to participate in the management of the business or may agree to hire a manager to conduct the affairs of the business while the members maintain indirect control of the organization.

To set up a LLC, the members/owners must file with the state.  The filing should include the business name, the registered agent along with the names of those managing the organization.  To learn more about forming a LLC click here - File your incorporation or LLC right – from the small business experts at Intuit, maker of Quickbooks and TurboTax

Sunday, November 22, 2009

Are Your RE Holdings Held In A LLC?

Are your real estate holdings held in a Limited Liability Corporation? Are you keeping up with the necessary paperwork involved in maintaining your entity? If you were audited by the IRS today, would you be able to produce your LLCs Articles of Organization, meeting minutes or other docmentation required to maintain your entity? When auditing small businesses that are designated as LLCs or even SCorporations the IRS is requesting your organizational documents as part of their audit. If you're unable to produce this information or have failed to maintain it, then you'll lose your LLC or SCorp status along with all of the benefits associated with these entities.

Running a business is difficult enough without all of the administrative tasks involved.  As a small business owner you barely have enough time to run and grow your business so some of these administrative tasks fall by the wayside.  However, these tasks are important and should not be neglected.  You should consider outsourcing these tasks to someone who specializes in working with LLCs and S Corporations who can handle the administrative tasks as well as your accounting needs. 

SFS Group specializes in working with LLCs and SCorporations by taking care of their accounting and finance as well as handling the administrative tasks involved in maintaining the integrity of their organization.  Any one can handle these tasks for you but an organization that specializes in working with real estate investors and landlords as well as LLCs and S Corps will be more beneficial. By specializing in this area, SFS Group is very knowledgeable about what is required for these specific small businesses. 

Tuesday, October 20, 2009

Start Your Business with SBI - SiteBuildIt

SBI! makes online business success do-able. Anyone can succeed with an all-in-one process, tools, and guidance.  I have found that it is the best tool for building a sustainable and profitable online business.  If you already have a website then it will help you drive traffic to your website or if you're considering building a website then it's the best place to start.  I have looked at several products on the market and have purchased some as well and have yet to build a successful online business. 

I have a website that is getting very little traffic with no viable leads.  I came across SBI while visiting a website and clicked on the link. I am so glad that I did.  It took me a while before I made the leap and purchased the package which was very affordable compared to other products on the market.  With their money back guarantee, I had nothing to lose.  I also spoke with a successful SBI'er who answered all of my questions and concerns. 

The process and tools that SBI uses that teaches you to build your website is so detailed and requires you to think about every aspect of your business and all possible niches that can be derived from your business.  SBI has several built in features that helps you to do the necessary market research and keyword research which will allow you to develop content for your website. 
SBI offers its clients a business building process through a series of daily tutorials that are designed to take you through various steps to building your website and online business.  This process is the backbone behind the success of SBI sites.  Too many non-SBI! sites start without profits being "built into" the process from DAY 1. It all begins with the right process. Content Traffic PREsell Monetize is the underlying, logical and powerful process that capitalizes upon the fundamental realities of how people use the Web. C T P M puts you on a solid, profitable business foundation.

I am currently on Day 4 of the SBI tutorials.  I am excited about getting to Day 10 and launching my new site.  The first few days of the tutorials have been grueling but I know my hard work will pay off. Go to SBI's website and see for yourself how you can incorporate SBI into your current business model. 

Thursday, October 1, 2009

Getting Started Is The Hardest Part

Whether you're on the fence or have decided its time to take your financial future into your own hands, becoming an entrepreneur, starting a new business or resurrecting an old one is no easy task.  You have to develop the mindset needed to be successful. First, you need to believe in yourself, set attainable goals, believe in your ability to succeed and NEVER GIVE UP (even when it seems there's no light at the end of the tunnel).

Most people go into business thinking its going to be easy because they are an expert in their chosen field and knowledgeable about whatever product they're selling or service they want to provide. It's the other things that go along with starting and running a business that gets frustrating and cause "would be" entrepreneurs to not realize their dreams. Don't go into business thinking the business will be an overnight success. It WILL be a success but you have to take the necessary steps to ensure that it is successful - even if it means doing those little tasks that we just don't want to do.

It's time to finally fire your boss and become your own boss!  We all have to start somewhere (even Bill Gates had to start somewhere) and procrastination doesn't get you any closer to starting your business.  So dust off that old business plan (or, start writing a new one) and get started making your dreams of entrepreneurship come true.  We'll take this journey together. We'll be there to pick each other up when we feel like giving up. So c'mon! What do you have to lose?!