FAQ



	"Advisor's to Entrepreneurs" Lemas Accountancy Company is Roseville, CA based firm that has a mission to empower small business owners through an educational approach to managing today's small business. As your business partner we act as one toward the success of your business in this ever changing competitive world.		Frequently Asked Questions Can you effectively and efficiently service us from your California office? How much do you charge for QuickBooks setups? Can you give an example of a *typical* accounting and tax engagement and their respective costs? Wo is ... ? What is ... ? When is ... ? Can you effectively and efficiently service us from your California offices? A: Yes. If I were asked this question ten years ago, my honest answer would have been "no", or "yes, but at a considerable cost to you." In today’s world there are multiple ways to transmit electronic data and documents. One example for electronic data transmission, that we use, would be software called PcAnywhere by Symantec. This software allows for remote transfer of data and/or control of a remote computer from a remote location. What does this mean to you? Say your business is in Southern, CA and I’m in Northern, CA. Your computer would be set up with a DSL line and password protection. Then on your computer you would initiate a waiting status. At this point, with my password, I would be able to access your computer as if I was actually at your computer. This can be used for an online tutor session or a file transfer for a more in-depth review. From a tax compliance standpoint, federal tax returns are the same no matter where you live or conduct your business. However, Lemas Accountancy has made a financial commitment to use the most comprehensive tax return software’s available (Ultra Tax) which allows us to prepare all entity (i.e. corporate, partnership, individual, not-for-profit, etc...) tax returns for every state in the United States. We also use CD-ROM based tax research services, which gives us up-to-date tax law and tax forms. These efficient services, coupled with our extensive knowledge of small business, bridge the geographical gap as if we’re just "across town." Back to Top How much do you charge for QuickBooks setups? A: This is the most popular question that very few professional firms like to answer. On the contrary, we welcome potential clients asking this question because we waste no "learning curve" time by possessing an unequalled knowledge of QuickBooks Ž. We have setup nearly every type of business and will likely know the challenges you face within your industry, Lemas Accountancy charges a competitive hourly rates (Ranging from $45 to $95 hour for QuickBooks consulting depending on staff required for the engagement) and keep hours to a minimum by utilizing current computer technology and matching a fee structure to a client budget. I would also be happy to discuss with you an estimate of your complete setup based on your unique business and portions of the program that you will need to have setup. Our business philosophy is: I view our engagement fees as an investment delivering a greater return, rather than as a cost. I am more interested in building long-term profitable relationships by helping clients to achieve their business and financial goals. Given my familiarity with QuickBooks, I am always willing to structure client engagements on a fixed fee basis rather than on an hourly basis, once we’ve established a working business relationship. I am confident that a cost-effective fee arrangement can always be arranged between my employers and any new client in need of our services. Back to Top Can you give an example of a typical accounting and tax engagement and their respective costs? A: Yes. Here are two examples assuming I/we set up and taught you how to use QuickBooks: EXAMPLE #1: You are a retailer or consultant set up as a corporation with annual sales of approximately one to three million dollars. You have provided us with a QuickBooks accountant backup of your unadjusted year-end numbers. I/We would need to finalize your year-end, and make appropriate journal entries for reclassification and tax related differences. Then based on the adjusted year-end numbers, I/We would prepare your corporate federal and state tax returns. A corporate year-end accounting engagement like this should run between $1,000 and $2,500 in fees. Keep in mind that this wide variance is a function as to whether or not data was reviewed throughout the year, a tax plan was completed, and the volume of accounting transactions for the year. EXAMPLE #2: You are married, own a home, and have self-employment income and related deductions prepared on QuickBooks. You have provided us with a QuickBooks accountant backup of your unadjusted year-end numbers. Again, I/We would need to finalize your year-end, and make appropriate journal entries for reclassification and tax related differences. Then based on the adjusted year-end numbers, I/we would prepare your individual federal and state income tax returns. An individual income tax return preparation engagement like this should run between $300 and $800 in fees. Again, keep in mind that this wide variance is a function as to whether or not data was reviewed throughout the year, a tax plan was completed, and the volume of accounting transactions for the year. Back to Top Who is ... ? [This is the answer to the question.] Back to Top What is ... ? [This is the answer to the question.] Back to Top When is ... ? [This is the answer to the question.] Back to Top