925-330-2795 info@chaoticcancellation.com

2016 Deadlines and Dates

Its that time of year again, well technically that time of year started last month but I’m a little bit behind or on-time or just barely by the skin of my teeth on time. We are working hard to get all of our clients up-to-date and all requests handled as fast as possible after being “out” sick for a few months. Technically, I’m never out sick for more than a day or two but did have a small setback in August, then again in Sept, snowballing into December but I’m all healed and ready to get through these deadlines…so without further ado..the official deadlines. 1/27/16 = W2s have to be mailed out –  done 2/1/16 = 4th qtr 2015 Sales Tax Return and Payments due – whew, done 2/17/16 = 1099s need to be mailed out to people 2/29/16  = San Francisco Payroll Tax Return due for last year 3/2/16  = FAFSA due for California 3/15/16 = Corporate Tax Returns due 3/31/16 = 1099s must be electronically filed (at this point, no changes can be made) 4/15/16 = Personal Tax Returns due 4/16/16 = I’m going to need a...

Love/Hate

I have this love/hate relationship with Better Business Bureau – I’m not sure that it does my business any good and having to pay for a membership to boost my rating really doesn’t seem right. They cancelled my membership again because my CTEC license hadn’t been renewed as of 12/2/15, ok, so I was little bit behind on getting that renewed. Clients come first, I hadn’t had a chance to get my continued education as of 12/2/15 – btw, that’s done, 20 hours of boring federal tax law updates done! but I still had plenty of time to renew with a late CTEC registration + fee as of 12/2/15. And the love part – sometimes I think it might be a good idea Then there’s the hate part of being really pushy and then refusing to renew it because the CTEC License had expired a smidgen – currently my company on the BBB site says non-rated (non-rated means I didn’t renew my membership) So random search on google for tax preparer in Concord, CA – found several on the PTIN website, then checked their licenses on the CTEC website – of the five I checked, only two were registered with CTEC and none were listed on the BBB website – so yeah, not going to be renewing that anytime soon, save my...

How To Know If You Have Or Are A Great Bookkeeper

Absolutely love this post from Nerd Enterprises, Excerpt:  So how do you know if your bookkeeper is really great?! How do you know the difference between a bookkeeper who is just ok and one who really knows what (s)he is doing such that you are truly getting value for your money? How do you know if you are getting quality bookkeeping services? There are probably many ways of evaluating this and I am sure that if I ask 5 different people I will get 5 different answers with multiple criteria and there will likely be some crossover in the answers. The first thing a great bookkeeper should be concerned with when taking on your job is to review a copy of your books and along with that your last filed tax return. When I ask a client’s CPA for their last filed tax return so I can make sure the balance sheet agrees the reaction I get is that I am singing music to their ears. The very fact that I am asking for that tells them that I know what is important. It is also all too frequently an issue. Check your own company’s books right now. Go run the balance sheet for 12/31/xx where ‘xx’ is the last year you filed hopefully 2010 at the latest if not 2011. Then pull out your balance sheet page from your tax return. This does not apply to sole proprietors, only Corporations and LLC’s. Look at the Cash line: Does it agree to your balance sheet? Either way skip down to total Liabilities and Equity. Does that agree? Does the...

Why I am not a CPA

California CPA Licensing requires that you have a bachelor’s degree with related accounting courses + pass the exam + 1 year and only 1 year of experience certified by a licensed CPA to get your CPA license. I could pass the exam, on practice tests, I’ve passed with 80% or better. I have a masters of science in accountancy, I have over 100 hours of continuing education, each year I get about 20-30 hours of continuing education and I have over 25 years of accounting experience but I don’t work for an licensed CPA or CPA Firm and have no desire to work for someone else or at a CPA Firm. I had a friend that worked for a CPA firm and it almost killed her, the amount of work and stress related to working there and I have no desire to be that stressed out to just gain the 1 year of experience from a licensed CPA. I think the laws need to be changed, you should be able to get your certified of experience from other sources such as letters of recommendation from clients or mentors, you should not have to get your experience certified by a licensed CPA. I don’t know that I’d want to work for someone that only has a year of experience or just holds a bachelor’s degree. When I was in my master’s classes, a lot of those people had no experience in the actual day to day accounting. I also think the laws should be changed to require more than 1 year of experience, you should have a least 5 years...

BBB Accreditation

BBB Accreditation Re-Instated 11/24/14 I have been reinstated by BBB, still doing the same thing..bookkeeping, accounting and tax prep services.  Still have an A+ Rating and now their site just says Accredited since 11/24/2014.   BBB Accreditation Removed Utterly ridiculous, Better Business Bureau just told me that I can’t be accredited through them unless I take tax preparation off my website or have a CPA license. You know how many people prepare taxes that don’t have any kind of license or education. The thing is I always wondered if the only reason I had accreditation with the BBB is because I pay the them each month for the pleasure of having an accreditation. I don’t know that I have gotten any related business through having a BBB Accreditation status either for that matter. I’ve had an A+ Rating since 2008 and now because I don’t have a California Tax Return Preparer license or CPA License, I’m no longer qualified in their eyes to be accredited but I still do bookkeeping and accounting and tax preparation, ridiculous!    Oh well, that saves me $62.00 per month   This is going to be taken down soon but here’s what the BBB website currently says about Chaotic Cancellation as of 8/25/14:        ...