Month: May 2014

Identity Theft Protection: Simi Valley, Chatsworth and Camarillo Offices

Posted on by Craig Mathias

Source: Appeal of Mendoza; Cal St. Bd. of Equalization, Case No. 575960

In Mendoza, a taxpayer was notified by the IRS that Ohio wages had been reported under his Social Security Number. Mr. Mendoza had never worked in Ohio and was a full time California resident. He took NO STEPS to report his identity theft. Eventually, the CA Franchise Tax Board assessed taxes on those wages. He appealed and lost because he could not provide any evidence to show that he had reported and fought the identity theft.

If you suspect identity theft, you should immediately:

1. File a police report with your local jurisdiction.

2. File Form 3552, Identity Theft Affidavit, with the California FTB.

3. File Form 14039, Identity Theft Affidavit, with the IRS.

4. Seek assistance from a credit protection agency to “lock down” your credit and regularly monitor your credit reports.

Summary: It’s important to act quickly to limit future damage including tax assessments for income incorrectly reported under your Social Security number.

New bookkeeping idea: Simi Valley, Chatsworth and Camarillo Offices

Posted on by Craig Mathias

Small business owners are frustrated! 

The recession, health care increases and rising fuel costs have caused cuts in staffing. The owner often works twelve hour days only to return home and have to work on accounting.

We have a solution: 

Announcing a new approach to hybrid accounting:  We have dedicated a staff person to a low-cost work share approach to meet small business needs. The owner does as much as he/she wants to (e.g., writing checks, invoicing, etc). Our staff then takes it from there… reconciling the bank accounts, posting depreciation, compiling financial statements, integrating payroll from your payroll firm, etc. All under the supervision of one of our CPAs!  Example: This work share approach resulted in a monthly fee of only $200 to a Ventura County retailer and $250 to a private investigations firm.

BONUS: At your request, we can move the work up to our CGMA (managerial accountant) to consult with you on your business health, analysis and financial goal setting.

Give us a call at 800-924-1040 ext 12 to see how we can help give you more of your leisure time back. Se habla espanol.