Frequently Asked Questions

Why switch from my current accountant?

Most great business owners will already have an accountant, though would it not also make good business sense to ensure you are getting the best services for your business? If you’re not currently happy with your accountant, they may not be meeting your needs as a business owner and it may be time to look for an accounting firm that does meet your needs.

What if I handle my own taxes?

We realize that if you have the expertise, doing so yourself may be more affordable, though this can become very stressful to you and take away from you focusing on the core areas of your business. In having our firm take on the tasks, you will be able to have more time where you are more needed while receiving our expert advice to help guide your business in continual tax savings and growth. Our firm also stays up to date on the latest tax laws and will ensure any audits and tax planning will be handled properly, so as to avoid issues with the IRS.

What if I am too small/new for an accountant?

Our firm specializes in both startup organizations and various types of small businesses, even ones the same size as yours. For small businesses, we offer three business packages that are estimated around the size of your business and on average what you will need; this is so you are not paying for what you do not need, making sure are prices match your budget. For startups, we provide a specialized process, in which we will deliver all of the advice needed along with state and federal requirements to start your business. After the process is complete, we will upgrade you to one of our business packages that will fit your business’s needs and budget. As your business grows we can upgrade you to the next package to ensure your business receives the services it needs to run efficiently, while still remaining affordable.

The Office Location is far & I am very busy. Are there any other options to meet?

We understand that traveling can be a large inconvenience for many, especially if you have to make the trip frequently. At Chamberland Business Accounting, we prefer to remain convenient to our clients, so we can come out to your business location to meet with you and discuss your financial records. Our team is also readily available to answer any questions over the phone, through text, by email, or over zoom. Whichever method you prefer.

How much does your firm charge?

Unfortunately we are not able to quote an exact price until after having an initial consultation, however, we do offer three separate business packages with starting prices based on the size of the business and the average needs. To receive an exact price for our services, please call our office at 401-765-1235 or email at info@chamberlandco to schedule an initial consultation.

How often will we go over my business finances?

Our team of accounting professionals will complete and send your business’s financial statements to you each month. We will also meet with you regularly to discuss your business finances along with business growth and tax planning. Our accountants and bookkeepers will keep constant communication with you throughout the year whether by email, phone, or text message regarding your finances and are available throughout the year to answer any questions you may have.

How will you help me prepare for tax season?

We meet with all of our clients in the fall and discuss all of their business’s financial results and finalize their tax projections. We will create a tax strategy for each of our clients, using our tax planning checklist, to find all of the legally allowed deductions to help you save money. Our team of expert tax professionals will begin preparing your tax returns in January, in which it will be sent to you to review before we file them on your behalf. Our tax system ensures that you not only will save on authorized deductions, but you will avoid late fees or penalties as well.

How can your accounting services help my business?

Our accounting services can help strengthen your business, bringing more efficiency and creating long-term success for your business. In having our bookkeepers record and maintain your monthly financial records, you will continuously remain aware of your business’s profits and expenses, so you will be able to budget for projects that will benefit your business, cut down on unnecessary expenses to increase revenue, and guide your business into the direction that will best meet your short and long-term goals.

How does your firm stay up to date on tax laws and regulations?

Our firm regularly receives notices from the IRS and state governments on any new, updated, or modified tax laws and regulations. We also provide continuous training to all of our tax preparers throughout the year on any updated, modified, or new tax laws and regulations.

What if a family member takes care of my accounting/taxes?

If your spouse is an accountant, then that is perfect for you and your business. Though, even with your family member being an accountant many will find it uncomfortable having a family member know all of your personal financial information. Having a family member complete your taxes and finances can also mean they are “just doing you a favor” and not getting paid for their work, so they will not put the time or effort into the work that a non-relative would. If neither your significant other or family member are accountants this could cause risk to your business. We understand it is more economical to have one of them handle your taxes and finances, however, they are more than likely unaware of the ever changing laws and procedures which can end up costing you a lot of money or your entire business, if done incorrectly.

What kind of records should I keep?

In order for our bookkeepers to effectively record and maintain your finances accurately, we require that you provide us with the following records for each month:

• Bank Statements

• Loan and Credit Card Statements

• QuickBooks Backup

• Check Register (If Your Business Does Not Use QuickBooks)

What information do you need in order to file my business taxes?

In order for our tax professionals to prepare and file your business taxes we would need paperwork or other forms of physical proof for the following records from your business:

• Gross Receipts

• Purchases

• Assets

• Expenses

• Travel, Transportation, Entertainment, and Gift Expenses

• Employment Taxes

How does your firm stay up to date on tax laws and regulations?

Our firm regularly receives notices from the IRS and state governments on any new, updated, or modified tax laws and regulations. We also provide continuous training to all of our tax preparers throughout the year on any updated, modified, or new tax laws and regulations.

Chamberland Blog

Contact Us

 

info@chamberlandco.com

(401) 765 - 1235

603 Great Road North Smithfield, RI 02896

M-F: 9am - 5pm, S-S: Closed

%d bloggers like this: