QuickBooks Community - Lost my accountant- bookkeeper- need to file income taxes due

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Lost my accountant- bookkeeper- need to file income taxes due

Nov 19, 2007 02:51 pm

mymoney

New Member

California

Total posts: 2

This is my first time to join this community- my goal is to find the answers to my questions as this is an urgent call for help:

1. What to do to prepare a simple bookkeeping file that will come
from 2 years of unorganized record keeping by 2 previous accountants I
hired for my business.

2. I am now the financial manager until I organize my books and transfer to a new accountant- bookkeeper. How will I do this?

3. I also need to file my past income tax returns. What's the best
thing to do if I don't have the necessary data in proper category
except everything have been charged to our business credit cards and
business checking accounts? I have an online account and I can also
gather them but I don't think I have enough time to work on them now.
My taxes are due now. We don't co-mingle our personal/business
accounts. Can I just file the simple business income tax returns (like
the quickbooks business turbo tax) and amend later after I hire a new
accountant CPA?

4. Our company is incorporated in Delaware but doing business at
home in Califonia. I also need to file my CA income tax returns for
fiscal year 2005 and 2006. I had already asked for extension and I
don't know if I can ask a second extension.

5. What's the simplest and quickest way to comply with rules that apply to my business.

6. I am also a Veteran Owned business- my husband is the registered veteran.

7. I would like to see how I can modify the business registration- to include me as a Minority Women Owner.

8. Our payroll is done by Intuit Payroll.

Hope you can help me or pass this question to somebody who can. Good
Luck to your kind service and may you reach your goals in life.

Sincerely yours,

Executive Women

Replies to Lost my accountant- bookkeeper- need to file income taxes due

eli_qb_guy

Arizona

Total posts: 51

#1
of 1

Lost my accountant- bookkeeper- need to file income taxes due
Nov 26, 2007 08:58 am

To prepare 2 years of bookkeeping: Create a new QuickBooks file (if you don't already have one), enter all transactions and reconcile each month's bank and credit card statements. Once this is done you can run a Profit & Loss report for each year to give to a tax accountant for filing.

Filing late returns: Depending on the structure of your business (Sole Proprietor, S-Corp) it may be in your best interest to find a tax accountant asap to file your past returns rather than sending in preliminary data and amending later. The more structured the entity, the more involved the tax requirements and you may find yourself in over your head.

Extensions: Contact the California Dept of Revenue to as about a second extension.

Compiling past years data: My company offers this service. Please feel free to contact me for a quote.

Adding owner to business: depending on the structure of your business this may be a simple process. Are you incorporated? Sole Proprietor?

Outside payroll: Gather all reporting from Intuit - especially quarterly tax reports - as the gross wages and employer tax amounts should be included on your tax returns as expense.

Hope this helps,

Eli

Eli Larriva Accountant, Certified QB Pro Advisor www.eclconsulting.com

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