About Us
The products and services we offer
Products & Services
Golden, Seward, Kelley & Emmons, CPAs offers bookkeeping services for businesses of any size in and around Roswell. Most bookkeeping is monitored f...
Recommendations Given (5)
"Excellent firm under superior leadership."
"Because they have a reputation for caring. People who care about what they do not only provide..."
Read more
"Because they have a reputation for caring. People who care about what they do not only provide advice, it is generally conscientious and well thought through. In other words, it is something that has become a premium in our society...Damn good advice! We all want it, we need it and soak it up when we can get it.
"
Recent Activity
Niche marketing has worked well for our firm. We have specialized in several areas and seen results because we are familiar with various types of businesses. Of course that sometimes means taking a client that is a competitor of an existing client. The only reason we are able to manage that...
(more)
Niche marketing has worked well for our firm. We have specialized in several areas and seen results because we are familiar with various types of businesses. Of course that sometimes means taking a client that is a competitor of an existing client. The only reason we are able to manage that relationship is that the industry is sufficiently large and intense enough that sufficient business minimizes intense competition. You must be mindful of existing client first, seeking permission to take on a client who is a possible competitor. That being said, because we are respectful enough about an existing client and seek permission first on several occasions an existing client has referred a competitor to us.
1 Reply
I am going to go out on a limb here that we are all missing the possible wider issues of this question. Obviously,
1. Equipment, be it a new server, monitor or work station is a capitalized expenditure,
2. Repairs are, for the vast majority of circumstances, operational expenses, but
3. Often...
(more)
I am going to go out on a limb here that we are all missing the possible wider issues of this question. Obviously,
1. Equipment, be it a new server, monitor or work station is a capitalized expenditure,
2. Repairs are, for the vast majority of circumstances, operational expenses, but
3. Often buried in IT expense are programming expenses, consisting of both internal and external costs. A minimal update to an existing program could easily be an operational costs. But, if hundreds of internal hours are spent on a massive overhaul of existing software or thousands of dollars spent externally, you are out of the operational expense arena. A do not think a good IRS agent will not ask to speak directly to the head of IT. So often this is 1-3 individuals, one who spends a lot of time programming.
So be prepared. Internally, lack of proper time records by IT personnel will not get you off the hook. Poor time records can open the door to IRS estimates which often end up in their favor. Externally, good programmers will have time records, resultant costs and definitive explanations of what service were performed.
In our firm of 15 employees, it is not unusual for us to spend over $10k a year in new software and internal enhancements to existing software. We try a perform a reasonable allocation and capitalize those costs.
Do we need to get together and UPDATE THE CHART OF ACCOUNTS?
(more)
Do we need to get together and UPDATE THE CHART OF ACCOUNTS?
1 Reply