BRIAN T. STONER, CPA  

  You can count on us to count for you!
SELECTED TO THE FORBES TOP 100 MUST-FOLLOW TAX TWITTER ACCOUNTS FOR 2018 
Forbes Top 100 Must-Follow Tax Twitter Accounts for 2018

Award for Best Accountant in Burbank, CA by Best Businesses - 2016, 2015 and 2014

Received the American Registry Award for Best Accountant of OF 2017

Picked by Expertise.com as one of top 20 Tax Services in Los Angeles for 2018 & 2017
July 1, 2018    

                   


 
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2600 W. Olive Ave, 5th Floor
Burbank, CA 91505

 
I write a BLOG  called 'MUSINGS OF A BURBANK CPA' on Financial and Tax Items I feel are worth sharing!  You can access
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POSTCARDS FROM THE IRS & TIPS TO BRING HOME THE BACON
 
  Article one discusse s the new "postcard" sized 1040   and Article two talks about ways to maximize and manage business cash flow.
     

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IRS RELEASES 2018 'POSTCARD' 1040 THIS YEAR

So the IRS has released a preliminary form 1040 for 2018 to be filed in 2019.

It looks to be about an 8 1/2 inch wide by 5 1/2 inch tall. It is also extremely simple by itself.

But there are also additional schedules as well as  forms and worksheets that are needed to actually file the 'postcard.' 

For instance you still may have to file Schedule 1 (a catch all form for income and adjustments) Schedule A (if you itemize) Schedule C (if you have a small business) Schedule D (if you have capital gains or losses)  Schedule E ( if you have rentals, investment in partnerships, S Corporations and LLC) Schedule SE (for self employment taxes) plus other forms and worksheets for other income and deductions.

So even though the postcard is only half the size of the previous 1040, there is still a lot of work to be done to file a return.

If you efile your return and/or use a preparer you will probably not notice any differences when you are filing.

Paper filing may be an adventure as you will have to send in just as much paperwork as before depending on your situation.

One more interesting thing about the postcard - it may be the size of a postcard but you will have to mail to the government in an envelope (you really don't want anyone to see the front and back of the postcard in the mail, do you?) Plus you may need to send the IRS a check. 

Here is the preliminary form the IRS released:



 

  
   
 
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Issue 124



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In This Issue
IRS RELEASES 2018 'POSTCARD' THIS YEAR
5 TIPS ON BRINGING HOME THE BACON

 

 

 

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          BRIAN T STONER, CPA

 

 

 
 
Accounting Employment Opportunities  

 
Pauline Casbon of Casbon & Associates, LLC is a professional recruiter I have known for quite a while. She is very professional and can help accountants looking for work get a new position as well as find accounting professionals for business and industry.
   
 
Full Time Job Opportunities: Contact Pauline Casbon at
310 859 3805

Website:

www.casbonassociates.net

See my Linkedin page:

www.linkedin.com/in/PaulineCasbon 
 
  Referral fee for any potential employee that is placed in any of the following positions.      
 
  Immediate Hires!    


Tax Managers, CPAs needed for Brentwood, West Los Angeles, Century City, Beverly Hills and Glendale.  Salaries from $130k to $220k plus benefits.
 
Account Manager for Encino, Beverly Hills, Century City and Westwood. Salary range of 100k plus benefits.  Datafaction imaging required.

Graduate with accounting degree. Opportunity to be trained as a bookkeeper with an entertainment account firm. $19.00 per hour.

Tax Manager with business management accounting industry experience required to handle tax planning.  Up to $150k. Salary commensurate with experience plus excellent benefits. Brentwood.

Tax Manager, CPA for Century City. Salary range of $200k with great benefits!
 
 
 
Bookkeeper for West Los Angeles and Sherman Oaks with Business Management accounting experience, Datafaction imaging required. Looking for an employee who can step into an Account Manager position in approximately one year.

Staff Accountant required to join their other young team of accountants for a business management accounting firm handling high net worth individuals in the entertainment industry, great opportunity, career path offering salary up to $80k commensurate with experience, plus OT and bonus. Business Management accounting experience preferred. Encino.

Account Managers for business management accounting firm. Datafaction imaging required. Excellent opportunity, competitive salary and benefits. Located in West Los Angeles, Beverly Hills, Century City, Westwood and Encino.

Assistant Bookkeeper and Bookkeepers for business management accounting firms in Century City, Beverly Hills, Westwood, West Los Angeles Santa Monica and Encino. Opportunity for great career path in business management, salary up to $55k plus commensurate with experience. Datafaction required.

Bookkeeper, must be full-charge working in Van Nuys for an accountng firm. Salary range $55k

Audit Senior/Manager, CPA for Century City, Glendale and West Los Angeles. Competitive salary and good benefits. Career path opportunity!!

Tax Accountant, CPA for prestigious firm in Century City and Encino, definite opportunity for career path. Business management accounting industry preferred.

Tax Senior, CPA for prestigious CPA firm in Century City. Salary competitive and commensurate with experience. 85K plus.

Audit Senior for TV production area in Century City. Great opportunity. Salary from $110k range, plus great benefits.

Tax Seniors for West LA, Century City, San Fernando Valley and the San Gabriel Valley; CPA firm and Business Management Accounting firm, seeking potential employees looking for a career path!
 
Business Manager for Bus. Management accounting firm to become a Partner.  Century City. CPA Certification required.  CPA certification required. $130k plus excellent benefits. Datafaction preferred.
 
 Two Audit Seniors for CPA firm located in Santa Monica and Century City. Career path opportunities.
 
 
Tax Accountant for Century City and Encino 1 to 2 years experience of tax preparation with a CPA firm and/or Business Management accounting firm.

Royalty Analyst required for firm located in Encino. 

   
Looking for immediate hires! 
 
I am looking to expand my client base, if you would like further information regarding my staffing services, please do not hesitate to call.  I am happy to visit your office which helps me gain an even better understanding of your firm's culture and staffing requirements.  Please review my website at


and/or review my Linkedin profile.

www.linkedin.com/in/PaulineCasbon


Call 310 859 3805 for further information.  Send resume(s) as a word attachment to :
  



   
 
5 Tips on Bringing Home the Bacon
 
Whether you call it bacon, Benjamins, or big bucks, cash - and having enough of it - is key to running your business. Here are five tips related to managing and getting the most out of your business cash.
 
1-      All banks are not the same.
 
Choose your bank wisely, and don't be afraid to switch if you need to. Banks know they have a "high switching cost," which means it's one big time-consuming hassle for customers to change banks.
 
A couple of things that are important when choosing banks (some of which we never knew to ask five years ago) include:
 
  • Is your accountant able to connect your accounting system with free bank feeds, saving you hours and hours of accounting work?
  • How automated is your bank? The more automated, the fewer errors, and the more likely the bank is to have competitive services, features and prices.
  • What is their policy on holding large deposits?
  • Do they offer ACH services?
  • Does your payroll withdrawal need to be approved each pay period?
 
Accountants have experience with banks, so if you are in the market for a new one, feel free to reach out and ask us our opinion on the easiest bank to work with.
 
2-      Keep the number of cash accounts to a functional minimum.
 
Certainly, you'll need at least a business checking account, often a business savings account, a business PayPal account, and perhaps a petty cash fund. You may also want a separate account for payroll; a lot of companies do. But if you need more accounts, there should be a functional business reason to support them. That's already a lot of accounts to reconcile and keep track of each month.
 
The same is true of credit card accounts. It's the keep-it-simple approach.
 
3-      Reconcile all of your cash accounts every month.
 
Keeping all of your cash accounts reconciled each month is a good idea. If a bank error, accounting mistake, or even fraud occurs, you can catch it and get it resolved more quickly than if you delay.
 
You'll also have more accurate information about your balances and can move and manage your money better.
 
As you learn your balances each month, you can also move money around. Unless you spend a lot out of PayPal, plan to move that money to pay off debt or into your checking account on a regular basis.
 
4-      Maintain a cushion in your checking account.
 
If your checking account hovers close to zero more often than not, you may be wasting precious time watching your bank balance instead of spending time to manage your business. If you make a small error, you may get hit with costly overdraft fees, making your cash situation even worse.
 
Instead, consider depositing a fixed amount, like a cushion, that you never spend. You won't get overdraft fees, and you won't have to watch your balance so closely. You may give up some interest income, but the time freed up and the reduced worry will be worth a few extra pennies.
 
5-      Watch your liquidity.
 
Cash is to business as water is to people; we can't live without it. Make sure you have enough to cover future obligations, and when possible, build up several months of reserve for emergencies. Anything that you can liquidate quickly, such as accounts receivable, can count toward this fund too.
 
Try these five cash flow tips to keep bringing home the bacon in your business.


 
    
    
    
 You Can Count On Us to Count For You!       



Brian T. Stoner, CPA 
2600 W. Olive Ave., 5th Floor
Burbank, CA 91505
(818) 333-5095  CELL (818) 317-6035
FAX (818) 333-5304
[email protected]
www.briantstonercpa.com