HELPING YOU MOVE TO THE RIGHT DIRECTION
Choosing the right accountant for you could be one of the biggest decision you can make in your life.
An accountant can help you with any one of your life's major events. From having a new child
to dealing with a death of a loved one; from getting married to getting a divorce; from buying
a home to selling one; or from forming a new business to dissolving one.
A good accountant can be a good partner to help you make these events a better one. A good
accountant can help you save some of your hard-earned dollars and can make your business
and personal endeavors a more successful one.
Ladinez & Company, PC is a CPA firm located in the city Torrance, California. We provide services in income tax return preparations, payroll, bookkeeping, and business consulting. We are tax accountants, tax preparers, bookkeepers, payroll service providers, and business consultants. Our office is within a comfortable driving distance from the beach cities, such as Redondo Beach, Manhattan Beach, Hermosa Beach, El Segundo, Long Beach, San Pedro, and Rancho Palos Verdes. We are also within a driving distance from Los Angles city and Orange County.
Services
Getting Your Books Ready For Your Tax Return
Bookkeeping is an often neglected task when preparing a tax return. A lot of business owners often delay their bookkeeping until they realize that their record keeping has become entangled and couldn’t do anything more about it.
Bookkeeping makes preparation of financial statements faster and more accurate. Financial statements like the profit and loss statements are the basis of schedule C in your tax returns. In addition, a balance sheet may also be needed in corporate and partnership returns.
An accurate bookkeeping helps in tax planning. With the interim financial statements on hand, tax preparers can easily project estimated tax liability, therefore, helping the taxpayers prepare the needed funds for tax payments and save on penalties.
Since the responsibility of proving the accuracy of tax returns rests on the taxpayers, a well and neatly maintained books of accounts is less likely to be audited and if ever audited, taxpayers can easily provide the needed substantiation for the audit.
Before starting the bookkeeping process, the business owner or the bookkeeper must gather, organize, and scan the documents and file them in a folder for future reference or audit. Next step is to gather all the income from all sources, breaking them down into different types if there is more than one.
For expenses, the usual types that must be recorded are as follows:
- Advertising
- Car and Truck Expenses
- Equipment Expenses like Depreciation and Repairs
- Independent contractors
- Business Travels
- Utilities
- Payroll Expenses
- Other Expenses such as Office Supplies and Bank Charges
An explanation through a memo for important details about the income, expenses, assets, liabilities, and equity may become a useful aid in substantiating your tax return entries and even for future reference. Properly categorized expenses can help you identify non-deductible expense for tax return purposes.
At the end of the tax season, the bookkeeper must be able to reconcile the difference between books of accounts and the tax returns which may be due to presence of any of the following: allowable or disallowable expenses, taxable and non-taxable income, or maybe due to the method of accounting used, that is cash or accrual.
- We are CPAs, tax accountants, tax preparers, business managers and consultants based in Torrance, CA near Los Angeles & OC, serving the entire U.S. See us at Yelp & Facebook. Call us (424) 278-4838 or e-mail us at This email address is being protected from spambots. You need JavaScript enabled to view it..
CPA Firm, Tax Preparers, Accountants, Bookkeepers, Payroll & Business Consultants in Torrance, CA
Our CPA firm is based in the City of Torrance, CA. We provide tax, accounting, and business services to individuals and business. The 2010 United States Census reported that Torrance had a diverse population with (51.1%) White, (34.5%) Asian, (2.7%) African American, (0.4%) Native American, (0.4%) Pacific Islander, (5.4%) from other races, and (5.5%) from two or more races. Hispanics or Latinos of any races were 23,440 persons (16.1%), while non-Hispanic whites formed 42.3% of the population. Our CPA firm understands and accommodates the needs of these diverse taxpayers.
We are a CPA firm, tax preparers, tax accountants, bookkeepers, payroll service providers, business managers and consultants based in Torrance, CA, near Los Angeles, Long Beach, and OC. And we serve the entire U.S.
Other facts about Torrance:
Torrance’s economy is majorly supported by big companies, such as Honda, Exxon Mobil Refinery, Allied Signal Aerospace, and others. The ExxonMobil refinery in the north end of the Torrance is responsible for much of Southern California's gasoline supply. Torrance was also an important hub and shop site of the Pacific Electric Railway.
Torrance was originally part of the Tongva Native American homeland for thousands of years. In 1784 the Spanish land grant for Rancho San Pedro, in the upper Las Californias Province of New Spain and encompassing present day Torrance, was issued to Juan Jose Dominguez by King Carlos III—the Spanish Empire.vIt was later divided in 1846 with Governor Pío Pico granting Rancho de los Palos Verdes to José Loreto and Juan Capistrano Sepulveda, in the Alta California territory of independent Mexico.
