As a small business owner, you have plenty of responsibilities. Handling your business accounting accurately shouldn’t be one of them. When business owners look for a small business accountant in the Bay Area, they find Jeffrey Steed of Unitary Accounting. Jeffrey Steed and his Bay Area, California team are trusted for their expert accounting services, thoughtful consultation, and timely responses. Focus your time on business growth and family time instead of struggling with taxes and bookkeeping. Contact our friendly office at 1-800-301-6240 or complete our contact form for an initial consultation.
Small business accountant in Bay Area, CA
When you join the Unitary Accounting family, you can feel confident that you have knowledgeable and experienced people handling your accounting demands accurately and efficiently. Jeffrey Steed and his team support Bay Area small businesses with accurate and efficient accounting services. When you trust Unitary Accounting with your business tax preparation, you can concentrate on day-to-day business operations instead of taxes. Put simply, you get your time back.
Accounting services for Bay Area business owners
“I contacted Unitary Accounting at a very stressful time for my business, tax season! My current Accountant retired unexpectedly due to an illness. UA relieved my stress, by processing and mailing my 1099’s and preparing W2’s. UA also helped to provide services my employees for tax filings. I felt confident and comfortable that I was able to depend on their services. As a client of UA I stand by their services, knowing that my accounting needs are handled by a dependable professionals. Thanks again, UA!”
–Lewis Robinson Janitorial Services
At Unitary Accounting, we help start-ups and established businesses with all their accounting needs. We offer:
- tax preparation,
- payroll services,
- record keeping and planning,
- business structures,
- account reconciliations,
- and financial statement preparation.
What to expect from your small business accountant
My team doesn’t just enter data and regurgitate it in the form of financial statements and paperwork. Instead, I personally take your information, process it, and present it back to you with the goal of helping you understand how your financial decisions are affecting your business currently and in the future. After reviewing your financial data, we sit down with you, and help you create a plan to streamline your operations and make effective financial decisions.
It’s true, changing accountants is sometimes a tough decision. You might have lots of questions and I want to help answer them. It can be tempting to stick with an accountant who provides low quality service simply because they know you and your business so well. You and your business deserve better. Contact me and we’ll talk about making the transition to an accounting service that takes the time you need to answer your questions and provide expert guidance.
About Bay Area Small Business Accountant Jeffrey Steed
Small businesses and individuals need an advisor who is knowledgeable, thorough, and personal. I got my start working with small businesses owners after a relative asked me to help her with bookkeeping. From there, the requests for tax services and bookkeeping from other small business owners started coming in. I quickly saw the great need for an accounting service that provided more than just bookkeeping and tax preparation.
Your trust in me and my team matters to me.
Your confidence that I will thoughtfully address your accounting needs is what I value most in my work. I want you to be able to concentrate on growing your business. My existing tax preparation clients know that I care about their success as individuals. I want them to have an understanding of their tax returns; to not just have their return put together and submitted. When you walk into my office, I want every client to feel listened to and understood. My clients are loyal to me because they feel valued and trust the expertise of my team. My work and the work of my team is accurate and performed with care. In today’s world I believe the traditional model of customer service and accountability has lost its way. My firm, Unitary Accounting Services, brings the customer focus back. We are the model for other firms who want to make the same commitment in the field of accounting.
Jeffrey Steed and his team support their clients with expert accounting services. As a result, their clients can concentrate on day-to-day business operations instead of taxes. When you join the Unitary Accounting family, you can feel confident that you have knowledgeable and experienced people handling your accounting demands.
For small businesses and nonprofit organizations, the accounting and tax world can be complicated. Bookkeeping and accounting remain among the less-favored activities a small business must undertake. From keeping records of receipts to knowing what expenses are tax deductible, small businesses and nonprofit organizations have tax and accounting issues that often require the assistance of a professional accountant who specializes in providing services to those organizations. We’ve provided answers below to some frequently asked questions to assist you in making better and informed tax and accounting decisions.
Frequently asked questions about accounting
Should I outsource my accounting to an outside professional?
In most cases, the answer to this question is “yes.” When you consider how many hours you or another member of your staff will spend on record keeping, accounting, payroll, and taxes, it is typically more cost-effective to hire an outside professional for your accounting and tax needs. In addition to saving money, you will also be saving time. Tax preparation and accounting hours can add up quickly for your staff; hiring an accountant will lessen their burden so that their time can be better spent on other business activities. Additionally, you’ll have peace of mind knowing that a professional with tax and accounting expertise will be working in your best interests. Tax laws change frequently so you will want someone working for you who has the most current information to keep you in compliance.
Another consideration is security. Small businesses and nonprofits are often the victims of internal fraud. Having adequate separation of duties is difficult at these organizations given the relatively few number of staff. Hiring an accountant to assist you with those functions provides you a layer of protection against the occurrence of that type of fraud.
Should I consult a CPA if I am starting a new business?
Absolutely. This is a critical step to make sure your business gets started on the “right foot”. It is important that your business be structured correctly from the outset for tax, legal, and other purposes. You will want to make certain you are selecting the most advantageous form of business entity, and there are many considerations to be evaluated. You will have a whole host of other tasks that have tax implications, like applying for your Employer Identification Number (EIN), and you’ll want to be working with your accounting professional each step of the way.
Should I use cash-basis or accrual accounting?
To manage your books, you will need to decide on an accounting system. You can use either cash-basis or accrual accounting. Cash-basis accounting is a simple way to manage your books. With cash-basis accounting, you only record transactions when you physically make or receive a payment. With accrual accounting, you must record money whenever a transaction takes place, even if you don’t physically give or receive money. You must record two entries for each transaction in a double-entry accounting system. Consider using accrual accounting if you offer credit to customers. If you are unsure, an accounting professional can help.
What kind of records do I need to keep and what is the best way to keep them?
In business, it’s a good rule of thumb for the business to maintain a record of every cent it both earns and spends. To do so requires the precise maintenance of all business records including those related to employee payroll, accounts receivable, purchases, and other expenses. Your receipts and bank statements are also necessary for you to file your annual income taxes for your small business. It’s also important to keep in mind that, as your business grows, so too will your record-keeping demands.
For most companies, investing in a digital record keeping system is a fast and ideal solution. Digital records are convenient in that they are accessible from anywhere and relatively indestructible compared to records stored physically. Storing your records digitally is particularly convenient during an audit. Tax laws prescribe the standards for determining whether or not a bookkeeping system is appropriate.
Which of my expenses are deductible?
What is and is not deductible can change in any given year. The IRS is constantly revising and updating the tax codes. That is just one of many reasons why retaining the services of a professional accountant is a good business decision. Your qualified accountant will have current and accurate information on which expenses can be deducted, allowing you to make informed decisions to help you maximize the tax benefits of your purchases/expenses.
How can I improve my tax position to reduce my payout?
The quickest and easiest way to improve your tax position and reduce your payout is to work with an experienced accountant. They’ll help to make you aware of all deductions available to your business and will implement specific strategies to maximize your post-tax income and minimize your tax payout. As financial experts, they stay up to date on tax law and how any changes to current tax laws might affect your business.
The best part about using a trusted accountant is that they partner with you to help you understand your tax situation and what changes you can make within your business to improve it. By enlisting tax preparation and planning services, you’re setting yourself up for the greatest success around tax time (and really all year long).
How do I know if my small business is profitable?
A lot goes into determining if a company is profitable, especially over the long-term. Profit is the revenue remaining after you’ve paid all of your expenses. So, if you’re “in the black” after you’ve paid off all expenses, that generally means you’re profitable, at least for the most recent period of reporting time. Profitability, however, can be largely impacted by positive and negative cash flow, so it is important that you track and forecast both.