Deepak Aggarwal is a CPA at Tri State Accounting, an Ohio based CPA firm. He worked for a Big Four accounting firm providing services to companies ranging from small privately held businesses to major corporations.
How QSBS Can Affect Small Businesses in Cincinnati. Starting and growing a small business can require a non-trivial amount of money.
Even if a business is very careful with every dollar they spend, the cost of getting a business off the ground and then operating it can add up very quickly. Ensuring that there’s enough capital for growth is why many businesses choose to raise money. The tech press is regularly filled with stories of startups raising millions and millions of dollars. Mistakes to Avoid When Hiring An Accounting Firm - Tristate Accounting. Tri-State Accounting in Blue Ash enters the next generation. Deepak Aggarwal, son of Satish Aggarwal, who started the CPA firm as a sole practitioner in 1983, is managing Tri-State Accounting & Tax Services in Blue Ash.
“He started the practice with the premise that he wanted to provide quality service at an affordable price,’’ says Deepak, 30, who vows that won’t change. “Dad asked me to join the firm. He was looking to retire and he asked me to come back and help him,” Deepak says. Deepak, who spent five years working for Deloitte & Touche in audit and business advisory services, is expanding the seven-person firm’s technical capabilities. For example, Tri-State is moving all its accounting and tax functions to cloud-based computer technology. “It means better customer service. “For payroll, for example, they can login and get W-2 forms, pay stubs and financials all online,” he says. Deepak, who holds both a bachelor’s and master’s degree in accounting from The Ohio State University, is also expanding the firm’s marketing efforts. Accounting Services for Subway & Dunkin’ Donuts Owner Operators. Owning a franchise business can be a very rewarding experience.
One of the reasons this type of business is so appealing is it eliminates many of the uncertainties that go along with starting a business from scratch. While there are a lot of good things the can be said about franchising, that doesn’t mean it’s without challenges. As with any type of business, there are aspects of franchising where owners can greatly benefit from getting expert help. One example of an area where expert help can play a huge role is with franchise accounting in Cincinnati.
Even though accounting is by no means something that everyone enjoys, the information provided by this practice is crucial for understanding the health of a franchise. Year-End Tax Planning Tips for Small Business Owners. Taxes are something that most small business owners have plenty of concerns and questions about.
At Tristate Accounting, we offer a variety of services that help business owners with their tax-related needs. In terms of small business tax tips (which is something we’re asked about on a regular basis), one of the most effective measures a small business can take is to do some strategic planning. Specifically, by being aware of certain year-end tax planning options, small businesses can put themselves in the most favorable position possible.
So with that goal in mind, let’s take a look at a few things your business should strongly consider as 2015 comes to a close: Defer and Accelerate As the year winds down, what your business does in terms of income and expenses will depend on where your business is at in its lifecycle. Be Strategic If You’re a Cash-Basis Entity. Accountant vs. Bookkeeper: What Do They Do for a Business? What is the Best Small Business Accounting Software? As small business accountants in Cincinnati, one of the questions we’re most commonly asked by business owners is what accounting software they should be using.
Our answer to that question is to use accounting software that’s based in the cloud. The reason that cloud-based accounting software is the best option for businesses is it’s a proven way to save time and money. By moving to the cloud, businesses can simplify the process of keeping all their accounting information up to date. While everyone who needs access to this information can get it, the data will be protected from everyone else.
Cloud accounting software also takes care of syncing and backing up data. Important Tax Planning Tips for Small Business Owners (with image) · ohioaccounting. Cincinnati CPA Firm for Medical Practice. The current economic and financial landscape faced by medical practices is quite challenging.
As a result of everything from rising costs to declining reimbursements, medical practices of all sizes are looking for expert financial guidance. At Tristate Accounting, we specialize in medical practice accounting and other financial services. Our targeted offerings include: Medical Practice Accounting Any medical practice that wants to grow needs to stay on top of its numbers. If you’re in need of a CPA who understands the specific issues faced by your organization, we’re the financial experts who can help. Tax Services for Doctors, Dentists and Other Medical Providers. Accounting Services for Startups Cincinnati Oh. Startups move fast.
They are also an environment filled with all kinds of ideas. Because startups operate at a pace that is noticeably accelerated, it’s natural for challenges to come up along the way. One area where many startups face different challenges is in regards to their finances. For some startups, it’s as simple as not having the time or resources to stay on top of their own finances. Small Business Accounting Services Cincinnati, OH. Benefits of Hiring a CPA in Cincinnati for Your Business. 4 Things to Consider When Choosing a CPA. Special to GrouponWorks from Deepak Aggarwa of Tri-State Accounting Tax season is officially upon us and everyone is preparing for the meeting with their accountant.
However, most entrepreneurs and business owners want to get their taxes done as quickly as possible and don’t stop to ask, “Does my current accountant have my best interests in mind?” We all know that CPA firms are businesses but there are CPAs who truly want to help their clients and form long lasting business relationships versus just seeing their clients as transactions. Consider these 4 things when choosing your accountant: Trust your Instincts– Most CPAs have the same research tools and use the same software, however, their experience and dedication to their clients is what sets them apart.
Questions to Ask When You Choose a Tax Accountant. If choosing a tax accountant for your business is one of the items on your to-do list, you probably already know that this is a significant decision.
While the wrong accountant can create headaches for your business, the right professional can help your business save money and avoid issues with the IRS. Additionally, a truly talented tax accountant can play a pivotal role in understanding the current stage of your business and making informed decisions about what needs to be done next. Since there are quite a few considerations involved in selecting the ideal business tax accountant, we’ve put together a list of questions for you to ask potential CPAs. By using this helpful list of questions, you can feel completely confident when the time comes to make your decision. Understanding the Realities of Alternative Financing for Medical Businesses. 1099 vs W2 Which Do Your Workers Need? - The Groupon Local Merchant Blog. Special to GrouponWorks from Deepak Aggarwal For most business owners tax savings are always on their minds.
A really important question comes up when they first hire help: should I classify this worker as a contractor or a full time employee? Knowledgeable business owners know that if they put the worker as a contractor they will not have to pay the employer portion of Social Security tax (6.2%) and Medicare tax (1.45%). However, what most business owners do not know is that the IRS is cracking down on the misuse of the classification of independent contractor. The test the IRS uses to determine the correct classification is based on whether the person for whom the services are performed has the right to control how the worker performs the services.