Is a CPA better than an accountant? Is a CPA better than an accountant? In a word, yes. A CPA is an accountant who meets certain licensing qualifications, whereas an accountant is unlicensed. A CPA has a broad knowledge-base in financial accounting, business law, auditing standards, and ethics achieved through an advanced college degree (usually a […]
Category Archives: Business Help
29
Mar
Mar
This post is from an interview with ABC News. 2020 has been an interesting year for businesses, while some have grown others have been greatly affected by the pandemic. Today on ABC4 Utah we have a local expert – Ron Valentine joining us from Valentine CPA.Ron tells us that according to statistics he is showing […]
07
Jan
Jan
Reason 1: They earn their own way. No one gives them a free pass. They wake up every morning “unemployed” and go to work. Reason 2: They are very service-oriented. They are helpful and will go the extra mile to help you get the most out of your purchase or sale. Reason 3: They are […]
22
Aug
Aug
If you look closely, you will see my grandson sitting with his dad in the cockpit of the skid steer. My son rented this tractor to remove the weedy jungle that he had in his backyard (see @thelittlehouseofhoarders). The rental company delivered the equipment last Friday evening and this little boy woke up to the […]
09
Jun
Jun
Two Big Issues with Recordkeeping for Tax Purposes The records you keep provide the documentation to support the deductions and expenses claimed on your tax return. There are two big issues. Big Issue One. The first issue is that you need to prove that the expense is deductible. To do this, you must always keep […]
30
May
May
Here is a list of the information that you will need to give to your professional so that they can prepare SBA Form 3508 (Paycheck Protection Program Loan Forgiveness Application) and its required schedules for your company. General Info Loan Number Loan Amount Lender PPP Loan Number PPP Loan Disbursement Date Number of employees at […]
27
May
May
My newest client is this small online boutique called “The Jean Junky”. This is a small two-owner LLC (Limited Liability Company) owned by my wife and daughter. They are having so much fun that it really isn’t fair. A two-owner LLC is taxed like a partnership. Small partnerships are not required to provide a balance […]
10
Oct
Oct
We would like to welcome Donell as the newest accountant to our Firm. I had an interesting experience as we were interviewing accountants for the position. Many of the candidates claimed that they were bookkeepers and accountants. What I discovered is that many think that they are accountants because they can input data into QuickBooks. […]
12
Jul
Jul
The question came up today as I was meeting with a new client about automobile expenses. The business owner has the option of either deducting the actual automobile expenses used for the business or using a standard mileage rate. Because automobiles can be used for both personal and business purposes, the IRS terms these vehicles […]
09
Jan
Jan
Hi everyone, my name is Jill. My place at Valentine CPA is right up front, at the reception desk. It’s the perfect place for me, because I really like people. Ron has asked me to write a little blog describing my philosophy concerning customer service. My mom was an avid gardener, and her skills at […]
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