FAQ

This is our chance to chat and answer a few of your most frequently asked questions!

JPW Accounting

We bring you 26 years of experience in accounting, bookkeeping, personal tax planning, small business tax, financial accounting, and tax preparation.

Why do I owe so much on my taxes?

The amount of tax you owe will depend on different factors. Did you recently have a job change? Were you married or recently divorced? If you're self-employed, have you underpaid your quarterly taxes? Some other factors also include: - Filing status change, changes in education or decrease in tuition - No contribution to retirement account and therefore increase in taxable income - Increased property or home tax - One off capital gains - Any change in military service
What do I need to do to make my business work?

Any business that's starting out will need help with the accounting tasks that come with managing a business. You'll need to stay up to date with all financial activities for processing, measuring and communication of your business's finances. The activities include: - Payroll - Management - Acquisition - Inventory - Taxes If you're unsure how to get started or need help picking out the best accounting software, please make sure to contact me.
What are the benefits of using Quickbooks?

Quickbooks has become an ideal tool to use for business owners for how convenient the remote access has become. You or your accountant will have access to log in to your Quickbooks account, which has all the information you need on the go. The benefits to using Quickbooks online include: - No software or data to manage - no updates - Faster way to share access data with employees - Assistance chat online - Easy app sync - Automatically sends reports - Automatically sends invoices and statements - No need for backups, your data is secure - Bank and credit transactions are downloaded nightly - You can track your inventory (first in, first out) - Multiple windows open at the same time - iPad and iPhone apps are free and come with automatic sync - Option to receive payment by credit card or electronically