How To Avoid Accounting Firm Scams

Many people worry about being scammed through an accountant firm. This can make it hard to look for an accounting firm in North Hollywood. How do you know who to trust and who not to?  Oftentimes people have heard stories about celebrities and regular people alike being scammed out of everything they ever had, embezzled by a fraudulent accountant. It’s important to know how to avoid having this happen to you or your business. There are things that you can do and signs to look for to avoid any sort of accounting firm scam or any fraudulent accountants. Here we have compiled a list of some tips to help you stay financially safe.

Use A Trusted Service It’s important to use a trusted and reliable accountants to handle your finances and help you with tax audit in Los Angeles. A referral from a friend or business colleague is usually a good place to start. When you’re meeting with an accounting firm that you’re thinking about using, you should also ask about what type of internal controls the firm has in place to combat any potential of fraud.

Don’t Become Complacent While having a “money guy” is nice. It allows you to take a certain amount of weight, stress and anxiety off of your shoulders, it shouldn’t be an excuse to be lazy. You should still know how much money is in your accounts and how much your making. You should also be sure to not give your accountant access to all of your accounts. This is often where problems and scams happen. If an accountant has access to all of your accounts and can move money as he or she so pleases, the odds of you getting scammed and taken advantage of go up exponentially. You should review all reports and statements monthly. Staying on top of your finances is one of the most important things that you can do to prevent an accounting firm scam from happening to you.

Avoid Online Firms If an accounting firm contacts you online to handle your finances, but has no physical presence that you can find and promises to get you rich through some investment, this is almost certainly a scam. To avoid any accounting firm scams, you should use a trusted and professional service like Capital Finance Network. They are a great accounting firm in North Hollywood, ready to help you and your businesses finances today.

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How to Evaluate Performance of Accounting Company

Many people decide that they need an accountant to help handle their personal or business finances. Utilizing a firm can be a great way to keep track of your cash, assets and investments. An accountant can help you prepare for taxes and utilize deductibles and programs you very well may have otherwise not known about. A firm is also a great way to develop a plan for the future, but sometimes finding an accounting company in Los Angeles can be hard work. Here we’ve put together some tips on how to find a great accounting firm in Los Angeles.

Word Of Mouth As with many things, you can find a good firm through asking your friends, family and colleagues who they use for tax prep Los Angeles. Most people have an accountant or firm that they know and trust. These are often the firms that you will want to go to though it’s important to remember that your needs may not be the same as the needs of your friends and family. You may need someone to help you prepare your taxes and structure your small business's finances while your friend recommends you to a firm that almost strictly does tax prep. If multiple people recommend a particular firm to you that can be a good sign of one to try.

Research Going online and looking up different accountant firm’s websites and reviews is a great way to develop a list of firms to give a call. Once you have a list together of a couple of firms that you’ve heard good things about, start to give them a call. During the call, you should have a list of questions you want to ask them. You also want to discuss with them their services in general. You should always make sure that any firm you are looking at is certified and reputable.

Meet With Prospective Accounting Companies Once you have narrowed down your list to maybe two or three accountants, start to take meetings with them. It’s important to keep in mind that this will be the beginning of an important and long term relationship. While you don’t necessarily have to be friends with you accountant, they should be someone that you trust and get along with. An accountant is not just someone that does your taxes, but someone that helps you structure your business or personal finances for success. They’re someone that can really play a pivotal role in helping you reach your future financial goals.  You want to choose a professional, friendly and experienced accounting company in Los Angeles like Capital Financial Network.

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How An Accounting Firm Can Help You With Bookkeeping Services

Many people think about accounting firms for just their taxes, but they are also a great service to use for bookkeeping. You may be wondering why you would use an accounting firm for your bookkeeping service, especially if you already take care of your bookkeeping in house, but with an accounting firm you get a more professional and reliable experience. A trusted CPA will be able to do a much more orderly and accurate job than just an employee.

Having an outside accounting firm handling your books is one of the best ways to catch internal fraud. One of the things that leads to businesses, especially small-to-medium size businesses, experiencing the debilitating effects of embezzlement is having one employee who handles bookkeeping. This puts an employee in a great position to take advantage of the company. Having just one or even two employees who keep complete track and control of a company’s books is almost always a recipe for disaster. Sometimes a business can be taken advantage of so severely that they are forced to file for bankruptcy. With an accounting firm handling your books, they can assist you with putting in place financial controls to prevent or mitigate the risk of fraud. They can also monitor, track and investigate unknown expenses.

Having an accounting firm handle your books is also a big time save for you. Many small business owners stress and worry about the small detail financial elements of having a business, but with an accounting firm helping with your bookkeeping, you won’t have to worry about that. This allows you to save time and to focus on what you love most, your business.

If you have an employee who is doing your bookkeeping for you, you can save money by hiring an accountant, especially if that employee is full-time. Using an accounting firm for your bookkeeping is also a great way to get outside business advice. Accountants can make  suggestions and guide you towards different decisions that will save you money on your taxes and help you to make more money. This is something that you just won’t get if you don’t use an accounting firm for your bookkeeping service. If you are looking for an accounting firm los angeles to help you with bookkeeping services, you should use the Capital Financial Network, the best accounting firm in all of Los Angeles.

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