Waukesha Accountant | Edith Christian CPA

We offer professional services that will satisfy your tax and accounting needs with relative ease. If you are ready to learn more about our offerings, just pick up the phone and give us a ring. Our friendly and accommodating staff is waiting to field your call, answer your questions and discuss your circumstances. When it comes to your finances, every delay can be costly, so don’t waste any more time. Contact Edith I Christian, CPA!

 Don’t squander away your precious time by struggling with complicated IRS forms and complex bookkeeping chores. You can get fast and effective solutions to all of your tax and accounting affairs when you employ Edith I Christian, CPA. We know how stressful your life can be. But when you call on us, you can relax a little bit.

When is it time to hire an accountant or Bookkeeper | Edith Christian Accounting Milwaukee | Waukesha

Sometimes you can only go so far as far as being on top of your Milwaukee business and its accounting, sometimes it is time to have someone take over your accounting and bookkeeping so you can concentrate on your business
Here is a great article from FORBES.com

Entrepreneurs thrive on a DIY mentality: Do everything you can yourself and don't pay for anything new until you have absolutely have to. It's especially difficult to justify hiring financial help like a bookkeeper.
With user-friendly software such as QuickBooks available, many business owners feel they should be able to do keep their records on their own, even as they wrestle with finding the time and wonder if they're doing things correctly.
Deciding about "hiring a bookkeeper is something I struggle with all the time," says Randy Mitchelson, owner of National Web Leads, an Internet marketing company in Estero, Fla. While he finds basic accounting easy to do, it takes him away from working on his business. Meanwhile, his accounting and tax planning have become only more complicated in the six years since he founded his business.
Entrepreneurs who hire accounting help usually discover they weren't doing nearly as well on their own as they thought they were.
Zalmi Duchman, chief executive of The Fresh Diet, a meal-delivery company based in Miami, lasted five years without a bookkeeper then hired one three months ago. The new employee cleaned up records that incorrectly mingled expenses and assets, reviewed employee purchases for duplications, and took over the mundane but critical task of paying bills. Duchman estimates his company is saving $500 to $1,000 in late fees every quarter. "I definitely have been able to make better and more educated decisions," he says.
So what are a small-business owner's options for professional help with financial tasks? Here is a primer:
Do I Need a Bookkeeper or an Accountant?Actually it's a trick question. You may need both.
Aaron Sylvan, a serial entrepreneur who lives in New York, compares the situation to needing to hire both a carpenter and an architect when building a house.
An accountant can analyze the big picture of your financial situation and offer strategic advice. He or she produces key financial documents, such as a profit-and-loss statement, if needed, and files a company's taxes.
After tax season is over, an accountant can also act as an outsourced chief financial officer, advising an entrepreneur on financial strategies, such as whether to secure a line of credit against receivables when introducing new products.
In contrast, a bookkeeper does the day-to-day hands-on tasks: making sure new employees file all the right paperwork for the company's payroll, submitting invoices (promptly) and following up on them, and paying the bills. The bookkeeper also tracks company expenses and can assure that every cost has been entered -- and recorded correctly -- into software like QuickBooks so that the business is ready for tax time along with filing any other reporting to, say, creditors or investors.
"I don't keep receipts; they're a pain," says Sylvan, who runs Sylvan Social Technology, an ecommerce-services company. "Every month I get a bank statement with a gazillion transactions," such as taxi rides, meals, conferences and other expenses he has placed on his company's debit card.
His bookkeeper spends a few hours a week sorting it all out. As a result, Sylvan has a better idea about how his expenditures stack up against his budget. He knows he won't bill clients incorrectly or miss important payments.
"Knowledge is power," even when it comes to the small details, Sylvan says. "If you don't have a bookkeeper, you're probably not being as strategic as you could be in how you spend your money."
When to Bring in a BookkeeperIn his running a half-dozen businesses the past 15 years, Sylvan has typically hired a bookkeeper for a few hours a week within a few months after starting a new venture. For the first six to nine months, he's usually too busy to focus much on recordkeeping, then "things begin to stabilize," he says. "Then you can see trends and you can start to think strategically about where your money is going and where you can save." And this is when a bookkeeper becomes valuable. Since Sylvan has fewer than a dozen employees at each new company, the bookkeeping takes about one day a month, he says.
The rates for hiring a bookkeeper on a part-time basis in the U.S. can range from $15 to $60 an hour, depending on location, the workload and whether work is done at the company's office or from home.
Sylvan typically sees his accountant once a year, at tax time. But business owners requiring capital or frequently negotiating credit with a bank are likely to contact their accountants more often.
When to Hire a Staff Accountant or Bookkeeper Many small entrepreneurs can probably stick to outsourcing accounting or bookkeeping services for quite some time. The typical service business can often outsource its chief financial officer tasks and bookkeeping until its revenues rises well above the $1 million mark -- or until it has about 30 employees. Until then, most businesses usually don't have enough work to keep a full-timer busy every day.
It's time to hire full-time help, though, when you're calling your accountant often enough that you wish he or she were in the office all the time. Bring in a full-time bookkeeper when your part-timer is spending two or three full days in the office and still falling behind.
Most new business owners find a staffing solution somewhere along the continuum that ranges from trying to go it alone and paying for full-time help.

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Payroll Accounting Waukesha | Edith Christian CPA

 Don’t squander away your precious time by struggling with complicated IRS forms and complex bookkeeping chores. You can get fast and effective solutions to all of your tax and accounting affairs when you employ Edith I Christian, CPA. We know how stressful your life can be. But when you call on us, you can relax a little bit. Our professionalism, integrity and trusty service make your life less taxing. Plus, we focus on delivering peerless customer service to ensure the satisfaction of every single client. Our name is indelibly linked with characteristics such as honesty, reliability and outright excellence. You can count on us! Are you ready for more information? Call today.

Payroll Taxes

• The most important function of payroll accountants is to process the payroll taxes for the federal and state taxes. Each employee's W-4 is reviewed and entered into the payroll system accordingly. Most payroll systems automatically calculate the tax percentages.

Additional Withholding

• Some individuals require additional withholding amounts from their paychecks. Items such as garnishments, child support and student loan repayments can all be withheld legally from an employee paycheck.

Company Benefits

• Each company offers certain employee benefits such as medical, dental, vision or life insurance that must be properly deducted from employee paychecks. These items are handled by the payroll accountant, who deducts them from the paychecks and moves the money into the company benefits plans.

Direct Deposit

• Most large companies use direct deposit for paying employees. Payroll accountants must verify the information in the payroll file before it is sent to individual banks. After submission, an exception report is run and any paychecks not deposited must be paid to the employee by paper check or re-submission.

Payroll Clearing Account

• Companies that do no have direct deposit utilize a payroll clearing account. This is a special bank account that holds only money relating to paychecks. An accountant must reconcile the bank account after payroll checks are issued to ensure that no discrepancies have occurred with employee paychecks.

Read more: What Is Payroll Accounting? | eHow.com http://www.ehow.com/facts_5262312_payroll-accounting.html#ixzz2SXV98pZV

Waukesha Payroll Accounting | Edith Christian

For All your Waukesha business accounting needs contact Edith Christian CPA.
We offer

• Accounting Services
• Bookkeeping
• Business Taxes
• Filing Taxes
• Payroll Accounting and Services
• Tax Preparation
• Tax Reporting Service
• Tax Return Preparation

Last Minute Tax Deductions | Waukesha Tax Preparation

Tax Day is this Monday, April 15. Yes, that's right -- THIS Monday!
Haven't filed your taxes yet? Check out these tips to ensure you and your spouse receive the maximum benefits on your returns, even in the last minute rush to pay good 'ol Uncle Sam.

• Be aware of extended tax breaks: This year, in efforts to avoid the fiscal cliff, legislation extended some family-friendly tax breaks that previously expired. This includes the tuition and fees deduction and a credit for energy efficient home improvements, both of which were set to expire after 2011.
The tuition and fees deduction can lower your taxable income up to $4,000 for qualified higher education expenses you paid in 2012.
You are eligible to claim a credit for up to 10 percent of the cost of eligible home improvements to your main residence, with a maximum lifetime credit of $500! For example, in 2012, if you and your spouse purchased and installed energy efficient windows and doors or insulation, you may be eligible for this tax break.
click here for the rest of the article

We offer professional services that will satisfy your tax and accounting needs with relative ease. If you are ready to learn more about our offerings, just pick up the phone and give us a ring. Our friendly and accommodating staff is waiting to field your call, answer your questions and discuss your circumstances. When it comes to your finances, every delay can be costly, so don’t waste any more time. Contact Edith I Christian, CPA! 262-646-2008 http://www.edithchristiancpa.net

Waukesha and Milwaukee Accountant | Most unknown Tax Deductions

Tax deductions and credits are key to ensuring you maximize your tax refund. People have gotten away with some crazy deductions, all IRS-approved. For example, a gas station owner deducted his beer expense because he gave it away as a part of a promotion and was able to write off the cost as a business expense. There’s the ‘body oil’ deduction used by body builders who can write off their oil expenditure as a business expense. A parent was once able to write off their child’s clarinet lessons as a medical expense, claiming that playing the instrument was correcting the child's overbite.
While these are extreme and very unique examples of tax write-offs, there are some lesser-known deductions and credits that often go unclaimed. Most Americans are aware of tax deductions and credits for new additions to the family, buying a house, home-mortgage interest, and medical and dental expenses, but as you get ready to file by the April 17 deadline, make sure to get the tax refund you deserve by keeping the following lesser-known deductions and credits in mind:
• Casualty Loss: If you were a victim of damage caused by a sudden and unexpected natural disaster, like a roof collapsing due to heavy snow, you could qualify for a casualty loss deduction. However, if damage is caused from something happening gradually, such as water seepage in a basement, you would not qualify.
• Volunteer expenses: Not only are charitable donations of money and goods to a qualified charitable organization tax-deductible, if you spend money out-of-pocket in the course of performing volunteer duties, you are entitled to some modest tax deductions.
Click here for the rest of the article from USNews

Waukesha Accountants | Tax Credits in Wisconsin

Wisconsin residents can take advantage of a variety of tax credits to supplement their incomes. The most important of these include the Federal Earned Income Tax Credit; the Wisconsin Earned Income Tax Credit; the Wisconsin Homestead Credit and the Child Tax Credit.  These credits can bring thousands of extra dollars to individuals and families — yet every year, thousands of people who are eligible for these tax credits fail to claim them.
This website is intended to increase awareness and use of available tax credits among low and moderate income families in Wisconsin.  It is designed as a resource for Cooperative Extension educators, service providers, employers, and others interested in the economic well-being of Wisconsin families. It includes detailed information about key tax credits; ideas and resources for outreach; links to help locate free tax assistance; links to relevant tax forms and instructions; statistics on use of tax credits; and a variety of other information.

Information about key tax credits

• Federal Earned Income Tax Credit
• Wisconsin Earned Income Tax Credit
• Wisconsin Homestead Credit

Outreach: goals, strategies, and resources

• Goals of a tax credit outreach campaign
• Outreach strategies
• Resources for outreach, promotion, and tax assistance
• Find free tax assistance

When your accounting tasks are too much to bear, don’t lose heart. Just call on Edith I Christian, CPA. We’ll help you maximize your earnings in a fast, efficient and economical fashion. With our peerless personnel, we can handle virtually any accounting and income tax need in a timely and efficient manner.

• Tax Consulting for Individuals / Business
• Tax Preparation and Consulting
• New Business Start-Ups
• Divorce Financial / Tax Consulting
• Collaborative Divorce

You can benefit from our wide-ranging knowledge and expertise. Contact us today and learn more about our unique capabilities.

Business Accounting Services Milwaukee and Waukesha | Edith Christian CPA

Weather your business is just starting up or well established, We can work with you to handle your accounting needs in Milwaukee and Waukesha areas.
When your accounting tasks are too much to bear, don’t lose heart. Just call on Edith I Christian, CPA. We’ll help you maximize your earnings in a fast, efficient and economical fashion. With our peerless personnel, we can handle virtually any accounting and income tax need in a timely and efficient manner.

• Tax Consulting for Individuals / Business
• Tax Preparation and Consulting
• New Business Start-Ups

You can benefit from our wide-ranging knowledge and expertise. Contact us today and learn more about our unique capabilities.




  Edith Christian CPA
262-646-2008
N9 W29360 Thames Road
Waukesha, WI 53188
http://www.edithchristiancpa.net