All and Any 2021 Bookkeeping Services

Bookkeeping Services with QuickBooks

Free Book an Appointment

 

Free Income Tax Organizer

 

Pricing for 1040 Income Taxes

 

Pricing for Bookkeeping Services

 

Pricing for Business Income Taxes


The cost of hiring a bookkeeper can vary depending on the size of the business and the Bookkeeper’s experience. However, on average, a bookkeeper will charge anywhere between $40 – $85 per hour, depending on the size of the business.

Bookkeeping involves the recording, regularly, of a company’s financial transactions. With proper bookkeeping, companies can track all their books to make critical operating, investing, and financing decisions.

Our bookkeepers manage all financial data for companies in or around North Hollywood CA and Hollywood, CA.

Bookkeeping is the recording of financial transactions and is part of accounting in business and other organizations. It involves preparing source documents for all transactions, operations, and other business events.

Transactions include purchases, sales, receipts, and payments by a person or an organization/corporation. There are several standard bookkeeping methods, including the single-entry and double-entry bookkeeping systems. While these may be viewed as “real” bookkeeping, any process for recording financial transactions is a bookkeeping process.

The person in an organization employed to perform bookkeeping functions is usually called the bookkeeper (or book-keeper).

After that, an accountant can create financial reports from the information recorded by the bookkeeper.

Contact El Cid

Methods of Bookkeeping Services

Before you begin bookkeeping, your business must decide what method you will follow. When choosing, consider the volume of daily transactions your business has and the amount of revenue you earn. A complex bookkeeping method designed for enterprises may cause unnecessary complications if you are a small business. Conversely, less robust methods of bookkeeping will not suffice for large corporations.

Importance of Bookkeeping Services

Proper accounting services and bookkeeping and payroll services give companies a reliable performance measure.

It also provides general strategic decisions and a benchmark for its revenue and income goals. In short, once a business is up and running, spending extra time and money on maintaining proper records is critical.

El Cid can give you consulting services on your bookkeeping. We work with many small businesses. We can provide you with monthly financial statements and your income tax return for IRS and State.

Many small companies don’t hire full-time accountants to work for them because of the cost. Instead, small companies generally employ a bookkeeper or outsource the job to a professional firm.

Bank Account Balancing

Bank account balancing is the process of finding identical transactions in your bank account and your bookkeeping records.

Balancing your bank accounts is a crucial step in bookkeeping.

Because, after everything else is logged, it is the last step to finding discrepancies in your books. Bank account balancing helps you ensure nothing amiss with your money.

Why is it Mandatory?

Bank balancing is a must because it:

  • Provides the exact financial situation of your company
  • Tracks cash flow accurately
  • It helps detect fraud or bank errors

There are two basic types of bookkeeping: single-entry and double entry

There is a fundamental division between single-entry and double-entry bookkeeping systems. Each transaction is recorded with one entry in a journal or log-in single-entry procedures. Single-entry systems are sometimes adequate for small, uncomplicated businesses, but they have several limitations and pros and cons.

In double-entry systems, each financial event is recorded using two corresponding entries called a debit and a credit.

You debit one account for each transaction (or another financial event) and credit another account.

Each debit always equals the corresponding credit.

You choose which accounts to credit/debit according to the accounting equation.

Which states that Equity = Assets – Liabilities, but don’t worry about the details of how this works for now.

Enter your debits/credits correctly; the sum of debits for all accounts will always equal the corresponding sum of credits.

Keep reading our blog to find more details about the bookkeeping concept you want to learn next.

The Accrual vs. Cash Basis of Accounting

To properly implement bookkeeping, companies need to choose which accounting basis they will follow. Companies can choose between two basic accounting methods: cash or the accrual basis of accounting.

The difference between these accounting bookkeeping services is based on the company’s actual records of a sale. These can include (money inflow) or purchase (money outflow) in the books.

Financial Statements

The next, and probably the most important, step-in bookkeeping is to generate financial statements by an accounting tax person. These statements are prepared by putting all your information from the entries you have recorded on a day-to-day basis.

Reports provide insight into your company’s performance over time. They reveal the areas you need to improve on to be a comprehensive business.

The major financial reports that every business must know and understand are the balance sheet and income statement.

Balance Sheet

The balance sheet reports a business’s assets, liabilities, and shareholder’s equity at a given point in time. In simple words, it tells you what your company owns, owes, and the amount invested by shareholders.

However, the balance sheet is only a snapshot of a business’s financial position for a particular date.

It must be compared with balance sheets of other periods as well.

The balance sheet allows you to understand your business’s liquidity and financial structure.

Through analytics like current ratio, asset turnover ratio, inventory turnover ratio, and debt to equity ratio.

The debt-to-equity ratio is financial too. This indicates the relative proportion of shareholders’ equity and debt used to finance a company’s assets.

Closely related to leveraging, the ratio is also known as risk, gearing, or leverage.

Income Statement

The income statement also called the profit and loss statement. This statement focuses on the revenue gained and expenses incurred by a business over time.

There are two parts to a typical income statement.

The upper half lists operating income, while the lower half lists expenditures.

The statement tracks these over a period, such as the last quarter of the fiscal year. It shows how the net revenue of your business is converted into net earnings, which result in either profit or loss.

The income statement does not focus on receipts or cash details.

El Cid Bookkeeping, Inc.

We love empowering small business owners around their monthly financial reports.

Our bookkeeping services offer full-service bookkeeping and all types of income tax preparation for all businesses, individuals. We have bookkeeping set-up and training.

El Cid Bookkeeping Inc. and Taxation Services have serviced over 4500+ businesses.

Many include small businesses, Corporations, S corporations, other business companies. And sole proprietors throughout the San Fernando Valley, Los Angeles, San Diego, Inland Empire, Orange County, and Sacramento areas. Our services including, online bookkeeping services, virtual bookkeeping services, and we are a dedicated bookkeeper to your account.

  • Income entries
  • Expense entries
  • Invoicing or billing
  • Accounts payable
  • Accounts receivable
  • Bank Statements
  • Credit card accounts
  • Payroll Taxes
  • Send monthly Profit and Loss and Balance Sheet

Are you thinking about hiring El Cid as an accountant or bookkeeper to prepare your Income Taxes?

  • Bookkeeping is a direct record of all your purchases and sales that your business conducts monthly. While accounting is a subjective look at what that data means for your business.
  • An accountant can be considered a bookkeeper, but a bookkeeper cannot be an accountant without proper certification.
  • To know whether you need a financial professional, assess the current financial position of your business. Compare what you want your business to grow financially and decide if you can manage that independently.
  • This article is for business owners deciding whether they need to hire an accountant or bookkeeper or business accountant bookkeeping.

Staying on top of your finances is vital for being a successful small business owner. Your financial data must be current and accurate. You have the tools you need to make sound business decisions and ensure healthy cash flow.

As your business grows to include more customers, vendors, and employees can get more challenging to keep track of your finances. This might be a good time to hire El Cid as your professional bookkeeper and accounting professional to do your bookkeeping services, data entry, and financial statements. Financial statements might include your Profit and Loss, Balance Sheet, Payroll Tax Reports, and Trial Balance.

When the bookkeeping, accounting, and tax returns are too much to handle by yourself, it’s time to hire El Cid.

 

bookkeeping services, it return,

Bookkeeping Services Near Burbank, CA

Bookkeeping Services near Burbank, CA

Contact El Cid

Free Book an Appointment

Free Income Tax Organizer

Pricing for 1040 Income Taxes

Pricing for Bookkeeping Services

Pricing for Business Income Taxes



The cost of hiring a Bookkeeper can vary depending on the size of the business and the Bookkeeper’s experience. However, on average, a Bookkeeper will charge anywhere between $40 – $85 per hour, depending on the size of the business.

Bookkeeping involves the recording, regularly, of a company’s financial transactions. With proper bookkeeping, companies can track all their books to make critical operating, investing, and financing decisions.

Our bookkeepers manage all financial data for companies in or around Glendale, CA.

Bookkeeping is the recording of financial transactions and is part of accounting in business and other organizations. It involves preparing source documents for all transactions, operations, and other business events.

Transactions include purchases, sales, receipts, and payments by a person or an organization/corporation. There are several standard bookkeeping methods, including the single-entry and double-entry bookkeeping systems. While these may be viewed as “real” bookkeeping, any process for recording financial transactions is a bookkeeping process.

The person in an organization employed to perform bookkeeping functions is usually called the bookkeeper (or book-keeper).

After that, an accountant can create financial reports from the information recorded by the bookkeeper.

Methods of Bookkeeping Services

Before you begin bookkeeping, your business must decide what method you will follow. When choosing, consider the volume of daily transactions your business has and the amount of revenue you earn. A complex bookkeeping method designed for enterprises may cause unnecessary complications if you are a small business. Conversely, less robust methods of bookkeeping will not suffice for large corporations.

Importance of Bookkeeping Services

Proper accounting services and bookkeeping and payroll services give companies a reliable performance measure.

It also provides general strategic decisions and a benchmark for its revenue and income goals. In short, once a business is up and running, spending extra time and money on maintaining proper records is critical.

El Cid can give you consulting services on your bookkeeping. We work with many small businesses. We can provide you with monthly financial statements and your income tax return for IRS and State.

Many small companies don’t hire full-time accountants to work for them because of the cost. Instead, small companies generally employ a bookkeeper or outsource the job to a professional firm.

Bank Account Balancing

Bank account balancing is the process of finding identical transactions in your bank account and your bookkeeping records.

Balancing your bank accounts is a crucial step in bookkeeping.

Because, after everything else is logged, it is the last step to finding discrepancies in your books. Bank account balancing helps you ensure nothing amiss with your money.

Why is it Mandatory for Bank Account Balancing?

Bank balancing is a must because it:

  • Provides the exact financial situation of your company
  • Tracks cash flow accurately
  • It helps detect fraud or bank errors

There are two basic types of bookkeeping: single-entry and double entry

There is a fundamental division between single-entry and double-entry bookkeeping systems. Each transaction is recorded with one entry in a journal or log-in single-entry procedures. Single-entry systems are sometimes adequate for small, uncomplicated businesses, but they have several limitations and pros and cons.

In double-entry systems, each financial event is recorded using two corresponding entries called a debit and a credit.

You debit one account for each transaction (or another financial event) and credit another account.

Each debit always equals the corresponding credit.

You choose which accounts to credit/debit according to the accounting equation.

Which states that Equity = Assets – Liabilities, but don’t worry about the details of how this works for now.

Enter your debits/credits correctly; the sum of debits for all accounts will always equal the corresponding sum of credits.

Keep reading our blog to find more details about the bookkeeping concept you want to learn next.

The Accrual vs. Cash Basis of Accounting

To properly implement bookkeeping, companies need to choose which accounting basis they will follow. Companies can choose between two basic accounting methods: cash or the accrual basis of accounting.

The difference between these accounting bookkeeping services is based on the company’s actual records of a sale. These can include (money inflow) or purchase (money outflow) in the books.

Financial Statements

The next, and probably the most important, step-in bookkeeping is to generate financial statements by an accounting tax person. These statements are prepared by putting all your information from the entries you have recorded on a day-to-day basis.

Reports provide insight into your company’s performance over time. They reveal the areas you need to improve on to be a comprehensive business.

The major financial reports that every business must know and understand are the balance sheet and income statement.

Balance Sheet

The balance sheet reports a business’s assets, liabilities, and shareholder’s equity at a given point in time. In simple words, it tells you what your company owns, owes, and the amount invested by shareholders.

However, the balance sheet is only a snapshot of a business’s financial position for a particular date.

It must be compared with balance sheets of other periods as well.

The balance sheet allows you to understand your business’s liquidity and financial structure.

Through analytics like current ratio, asset turnover ratio, inventory turnover ratio, and debt to equity ratio.

The debt-to-equity ratio is financial too. This indicates the relative proportion of shareholders’ equity and debt used to finance a company’s assets.

Closely related to leveraging, the ratio is also known as risk, gearing, or leverage.

Income Statement

The income statement also called the profit and loss statement. This statement focuses on the revenue gained and expenses incurred by a business over time.

There are two parts to a typical income statement.

The upper half lists operating income, while the lower half lists expenditures.

The statement tracks these over a period, such as the last quarter of the fiscal year. It shows how the net revenue of your business is converted into net earnings, which result in either profit or loss.

The income statement does not focus on receipts or cash details.

El Cid Bookkeeping, Inc.

We love empowering small business owners around their monthly financial reports.

Our bookkeeping services offer full-service bookkeeping and all types of income tax preparation for all businesses, individuals. We have bookkeeping set-up and training.

El Cid Bookkeeping Inc. and Taxation Services have serviced over 4500+ businesses.

Many include small businesses, Corporations, S corporations, other business companies. And sole proprietors throughout the San Fernando Valley, Los Angeles, San Diego, Inland Empire, Orange County, and Sacramento areas. Our services including, online bookkeeping services, virtual bookkeeping services, and we are a dedicated bookkeeper to your account.

  • Income entries
  • Expense entries
  • Invoicing or billing
  • Credit control
  • Accounts payable
  • Accounts receivable
  • Bank Statements
  • Credit card accounts
  • Payroll Taxes
  • Send monthly Profit and Loss and Balance Sheet

Tax Tips


What Is An LLC? Business Entity

Both LLCs and Corporations provide complete protection for your personal assets, should legal action be taken against your company. Corporations are legal and binding entities with the ability to purchase assets. LLC’s cannot legally own assets but a member of the LLC can for the purpose of the business.

As an LLC the business does not pay taxes. The net income is passed through to your personal taxes via Sch. C (for a single member) or Sch. E (for a multi-member). If you elect to be a C Corp you are subject to double taxation. The C Corp is responsible for paying its own taxes on net earnings; the shareholders are responsible to pay their taxes on earning from dividends earned from the corporation. If you elect to be an S Corp the net income is by passed to your Personal Taxes via Sch. E.

Yes they are the easiest and simplest business to set-up and maintain. They are a great way to start out by giving you protection of your personal assets. If in the future you elect to convert your LLC in to a Corporation it is feasible.

C Corp’s are mainly used for those in the manufacturing industry. C Corp’s pay their own taxes. S Corp’s are primarily used by those in the service industry. S Corp’s net income is passed thru to the shareholders.

Yes we take care of all the paper work needed to process your corporation.

Incorporating – Click Here

Business strategic plan defines goals, objectives, and targets for a company and outlines its resources will be allocated in order to achieve them. When a strategic business plan is in place, it allows each generation an opportunity to chart a course for the firm. Setting business goals as a family will ensure that everyone has a clear picture of the company’s future.


A strategic plan is long-term in nature and focuses on where you want the business to be at some future date.

What is an LLC?

Free Book an Appointment

Free Income Tax Organizer

Pricing for 1040 Income Taxes

Pricing for Bookkeeping Services

Pricing for Business Income Taxes

El Cid can establish your business entity; LLC (Partnership), S Corporation, Corporation is right for you. Benefits of incorporation can outweigh any downsides.

The pros

  • Secure your assets, gain tax breaks. LLC owners enjoy limited liability protection, and are typically not personally responsible for business debts. So creditors can’t pursue your home or car to pay business debts. Another plus: corporations often gain tax advantages, writing off such things as health insurance premiums, savings on self-employment taxes, and life insurance.
  • Grow your corporation for now—and the future. Incorporating bolsters credibility, and may help you reach potential new customers and partners. And while you can’t live forever—your corporation can. Even if an owner dies or sells interest, the corporation still exists.
  • Easy transfer and faster funds. Corporation ownership can be easily transferable (with some restrictions on S corporations). Capital can be raised more easily through the sale of stock. Another advantage is that many banks prefer handling loans with incorporated borrowers.
  • Ready for retirement. Retirement funds and qualified plans, like a 401(k), can be easier to establish.

The cons

Corporations do have some potential disadvantages, including:

  • Double taxation. C corporations are subject to double taxation of corporate profits when income is distributed as dividends. This can be avoided by electing S corporation tax status with the IRS.
  • Ongoing fees. You must file articles of incorporation with the state, plus applicable fees. Many states impose ongoing fees—which are steeper for a corporation than for a sole proprietorship or general partnership.
  • More record keeping. Corporations must follow initial and annual record-keeping requirements—which sole proprietorships, general partnerships and limited liability companies (LLCs) avoid.
Wondering how to incorporate a business as a C corporation or S corporation or how to form an LLC? Here are some of the steps included in the process:
  1. Determine the state where you want to incorporate.
  2. Decide which business type is best for your business and goals. Consult with an attorney or accountant.
  3. Determine who the directors of the corporation or who the members/managers of the LLC will be.
  4. Select El Cid Bookkeeping, Inc. Accountancy and Taxation Services as your registered agent. El Cid Bookkeeping, Inc. Accountancy and Taxation Services can be listed on your Articles of Incorporation or Articles of Organization. El Cid Bookkeeping, Inc. Accountancy and Taxation Services can be appointed by you to receive important legal and tax documents on behalf of your business and forward them to you. El Cid Bookkeeping, Inc. Accountancy and Taxation Services includes this service in all incorporation packages with us.
  5. El Cid Bookkeeping, Inc. Accountancy and Taxation Services prepares and files the Articles of Incorporation or Articles of Organization per instructions from the Secretary of State’s office. El Cid Bookkeeping, Inc. Accountancy and Taxation Services handles this step for you, allowing you to concentrate on running your business.

Why is incorporating a business important?

The primary benefit to business incorporation is limited liability.

As the owner you are responsible for any debts and losses your business may accumulate along the way.

However, when you incorporate, you are typically only held responsible for the amount of money you personally invested.

Your personal assets typically cannot be used to satisfy the debts and liabilities of your business.

Business Entity and Incorporating

We specialize in business entity and incorporating.

LLC

Partnerships

Corporation

S Corporation

Nonprofit

LLC, S-Corporations, C-Corporations and Nonprofit and all types of bylaws. We also love doing bookkeeping services and all types of income taxes whether it is personal or business. We are experts in all QuickBooks, Desktop or Online platforms.  We can help you!

A business entity is an entity that is formed and administered as per corporate law in order to engage in business activities, charitable work, or other activities allowable. Most often, business entities are formed to sell a product or a service. There are many types of business entities defined in the legal systems of various countries.

Verify Company Name Availability, Preparation of Articles of Incorporation, Document Filing with Secretary of State, a Free 60 Minute Business Tax Consultation, Domain Name, Federal Tax ID (EIN) Highly Recommended, Custom Bylaws, Custom Meeting Minutes for 1st year, Corporate Kit and a Basic setup of QuickBooks Desktop or QuickBooks Online file with customized Chart of Accounts.

What We Do

Verify Company Name Availability, Preparation of Articles of Incorporation, Document Filing with Secretary of State, a Free Business Tax Consultation, Domain Name, Federal Tax ID (EIN) Highly Recommended, Custom Bylaws, Custom Meeting Minutes for 1st year and your Corporate Kit.

3 Easy Steps

  • Complete Our Simple Questionnaire
  • We create your Incorporating documents and file them with the Secretary of State
  • You receive your final Corporate, S Corporate, LLC or Nonprofit in the mail.

FREE Book an Appointment

Complete Our Simple Questionnaire

  • President | Vice President | Secretary
  • Name at least 3 website names. Registration of your website will be at Register.com.
  • First Name | Middle Name | Last Name | % percentage
    QuickBooks Desktop - You will need to purchase the program. QuickBooks Online - El Cid offers lower pricing than Intuit.
  • American Express
    Discover
    MasterCard
    Visa
    Supported Credit Cards: American Express, Discover, MasterCard, Visa
     
    Incorporation $625.00 - I authorize, El Cid Bookkeeping, Inc. to charge the credit card. I certify that I am an authorized user of this credit card and that I will not dispute the payment with my credit card company; so long as the transaction corresponds to the terms indicated.

What is an LLC

El Cid can establish your business entity; LLC (Partnership), S Corporation, Corporation is right for you. Benefits of incorporation can outweigh any downsides.

The pros

  • Secure your assets, gain tax breaks. LLC owners enjoy limited liability protection, and are typically not personally responsible for business debts. So creditors can’t pursue your home or car to pay business debts. Another plus: corporations often gain tax advantages, writing off such things as health insurance premiums, savings on self-employment taxes, and life insurance.
  • Grow your corporation for now—and the future. Incorporating bolsters credibility, and may help you reach potential new customers and partners. And while you can’t live forever—your corporation can. Even if an owner dies or sells interest, the corporation still exists.
  • Easy transfer and faster funds. Corporation ownership can be easily transferable (with some restrictions on S corporations). Capital can be raised more easily through the sale of stock. Another advantage is that many banks prefer handling loans with incorporated borrowers.
  • Ready for retirement. Retirement funds and qualified plans, like a 401(k), can be easier to establish.

The cons

Corporations do have some potential disadvantages, including:

  • Double taxation. C corporations are subject to double taxation of corporate profits when income is distributed as dividends. This can be avoided by electing S corporation tax status with the IRS.
  • Ongoing fees. You must file articles of incorporation with the state, plus applicable fees. Many states impose ongoing fees—which are steeper for a corporation than for a sole proprietorship or general partnership.
  • More record keeping. Corporations must follow initial and annual record-keeping requirements—which sole proprietorships, general partnerships and limited liability companies (LLCs) avoid.

Contact El Cid

Late Tax Filing

Late Tax Filing?

Free Book an Appointment

Free Income Tax Organizer

Pricing for 1040 Income Taxes

Pricing for Bookkeeping Services

Pricing for Business Income Taxes

 

Penalties for Late Filing

April 15th is the annual tax filing date for Americans to file their federal income tax return forms or pay any taxes that they may owe. Filing a federal tax income return late or failing to pay a tax return on a timely basis could result in serious consequences.

According to the Internal Revenue Service (IRS) tax law, penalties for filing or paying late could include:

  • Penalty fees for failure to file or pay – penalties for failure to file are generally more costly than penalties for failure to pay
  • The penalty for filing late is typically 5% of the unpaid taxes for each month that a return is late
  • Penalties begin to accrue the day after a tax return file is due
  • If you do not pay your taxes by April 15th, you will face a failure-to-pay penalty at 0.5% of your unpaid taxes
  • If you file your return more than 60 days after the due date, the minimum penalty could either be $135 or 100% of the unpaid tax, whichever is smaller

If you feel as though you will be late on filing or paying for your tax return, it is wise that you consult with a certified public accountant. A CPA can help notify the IRS if you need an extension of time to file or pay your tax return. Instead of paying penalties, it is much more economical and safer for your finances to ask for help.

2021 1040 Personal Income Taxes

Are you thinking about hiring El Cid as an accountant or bookkeeper to prepare your Income Taxes?

  • Bookkeeping is a direct record of all your purchases and sales that your business conducts monthly. While accounting is a subjective look at what that data means for your business.
  • An accountant can be considered a bookkeeper, but a bookkeeper cannot be an accountant without proper certification.
  • To know whether you need a financial professional, assess the current financial position of your business. Compare what you want your business to grow financially, and decide if you can manage that independently.
  • This article is for business owners deciding whether they need to hire an accountant or bookkeeper or business accountant bookkeeping.

Staying on top of your finances is vital for being a successful small business owner. Your financial data must be current and accurate. You have the tools you need to make sound business decisions and ensure healthy cash flow.

As your business grows to include more customers, vendors, and employees can get more challenging to keep track of your finances. This might be a good time to hire El Cid as your professional bookkeeper and accounting professional to do your bookkeeping services, data entry, and financial statements. Financial statements might include your Profit and Loss, Balance Sheet, Payroll Tax Reports, and Trial Balance.

When the bookkeeping, accounting, and tax returns are too much to handle by yourself, it’s time to hire El Cid.

Contact El Cid

 

IRS 1040 Tax Return

  • Form IRS 1040
  • Schedules A, B, C, CEZ, D, E, F, H, J, R,  SE
  • Form 8812 Child Tax Credit

We will prepare your IRS 1040 tax return for both State and Federal and e-file for you. Your return shall be prepared with the highest standards as for all of our clients.

 

Tax Lien Ambulance Chasers

The Truth About Tax Lien “Ambulance Chasers”

If you’ve ever faced an IRS or state tax lien against you or your property, chances are you’ve received multiple calls from what I call tax lien “ambulance chasers.” These Boiler Room-style telemarketers call themselves “professional tax firms,” yet in reality are almost never owned by a licensed tax professional. Instead, professional bill collectors and salesmen run the show with one goal in mind – they just want your money. They don’t care that you’re a real person and that the consequences of a tax lien can be life-altering.

Book a FREE consultation

Luckily, when you consult with  Christina, your fresh start could be right around the corner! When you call our office at (818) 841-0255, we can go over several options for resolving your unpaid taxes. Depending on your situation, you could be eligible for several tax relief programs, such as an offer in compromise, currently not collectible, an IRS payment plan, or even an injured spouse.  There are many options available, and we are committed to determining which solution can render the best result while allowing you to pay the least tax possible!

Contact El Cid

If They Don’t Follow the Rules, They Can’t Help You With Taxes

These ambulance chasers are infamous for their annoying, aggressive, and often intimidating phone solicitation techniques. These firms employ large numbers of cold-callers who are more qualified to sell you a gym membership than to help you with your tax issues. They work off of long lists of people who might have existing tax debt, hoping to scare someone into handing over their money.

Tax advice or preparing tax returns all to have a specific set of rules to follow, which are outlined in a document called Circular 230. There are close to 50 pages of regulations I need to follow as a tax help professional, and section 10.30 has some pretty clear restrictions regarding solicitation:

“A practitioner may not make, directly or indirectly, an uninvited written or oral solicitation of employment in matters related to the Internal Revenue Service…”

Unfortunately for taxpayers and tax professionals alike, these so-called tax help firms fall through a legal loophole, as you do not currently need to be a licensed tax professional to open a tax help firm. Believe it or not, some members of Congress and IRS employees actually approve of these companies, because they can scare people into paying their taxes. If they’re trying to scare you, chances are they won’t be of much help to you.

They Will Lie, Manipulate & Tell You Exactly What You Want to Hear

In my time as a tax help pro, I’ve heard them all. I’ve heard ambulance chasers tell potential clients some pretty unbelievable lies, including:

  • Your penalties and interest will magically disappear
  • Your current taxes can just be grouped into their agreement
  • They claim to have flat or one-time fees
  • They have special “high-priority” status with the IRS.

These claims, and many more like them, are patently false. With every one of my clients that came to be from one of these firms, the story is the same. Seemingly without fail, these companies will promise the world to stressed-out individuals, only to completely change their story once payment is made. In many instances, they’ll take an initial flat fee, fail to work on your case, and then drop the case altogether if you don’t send them even more money.

In my opinion, the behavior of these firms is incredibly unethical and has a damaging effect on real people’s lives and financial future. The problem is, many people simply don’t know that these firms are of dubious repute – even worse, they fail to realize the incredibly damaging effects that improper tax advice can cause.

When you consult with me, you can trust that my advice comes from a place of true understanding and genuine concern. I care about my clients’ well-being, and I have the skill, knowledge, and experience to give them effective counsel on all tax matters, including tax liens.

Non Filed Tax Return

Non-Filed IRS 1040 Tax Returns or IT Return

If you need help, please make a FREE Appointment

 

Free Book an Appointment

Free Income Tax Organizer

Pricing for 1040 Income Taxes

Pricing for Bookkeeping Services

Pricing for Business Income Taxes

IRS 1040 Tax Return

  • Form IRS 1040
  • Schedules A, B, C, CEZ, D, E, F, H, J, R,  SE
  • Form 8812 Child Tax Credit

We will prepare your IRS 1040 tax return for both State and Federal and e-file for you. Your return shall be prepared with the highest standards as for all of our clients.

Contact El Cid

BUSINESS TAXES    

  • 1120 –   S or C Corporations
  • 1065 –  Partnerships and LLC
  • 1041 –   Fiduciary Tax
  • 1041 –   Estate Tax
  • 990 –    Exempt Org (Non-Profit)
  • 709 –    Gift Tax

We will prepare your IRS tax return for both State and Federal and e-file for you. Your return shall be prepared with the highest standards as for all of our clients.

Offer in Compromise

Offer in Compromise

Free Book an Appointment

Free Income Tax Organizer

Pricing for 1040 Income Taxes

Pricing for Bookkeeping Services

Pricing for Business Income Taxes

 

Contact El Cid

Luckily, when you consult with Christina, your fresh start could be right around the corner! When you call our office at (818) 841-0255, we can go over several options for resolving your unpaid taxes. Depending on your situation, you could be eligible for several tax relief programs, such as an offer in compromise, currently not collectible, an IRS payment plan, or even an injured spouse.  There are many options available, and we are committed to determining which solution can render the best result while allowing you to pay the least tax possible!

You can settle your debt with the Internal Revenue Service for just pennies on the dollar with an Offer in Compromise Program. The program allows taxpayers to settle the debt with the IRS on tax debt that has been incorrectly assessed or for other liabilities that they cannot afford to pay. Many people who thought they could never escape from their tax burdens have benefited from the Offer in Compromise Program, securing a life of financial freedom and restoring happiness once more.

The IRS Code Section 7122 states: “We will accept an offer in compromise when it is unlikely that we can collect the full amount owed and the amount you offer reasonably reflects the collection potential.” What this essentially means for taxpayers who are in need of financial help is that an Offer in Compromise Program is a safe way to settle the debt without having to break the bank. The compromise makes it possible for taxpayers to fully and completely eliminate taxes that are owed, including all penalties and interests, at an enormous discount. There is no preset bottom limit that the IRS will accept to settle your debt, especially if the compromise is done correctly with the assistance of a certified public accountant.

Solve your tax problems with El Cid

With El Cid’s help, we can help establish an offer in compromise that is mutually agreed upon by you and the IRS. Your offer in compromise can be customized in a way that takes into account your income and future budget so that your program is suited to your financial needs. If done correctly, your tax debt could be settled for only 1% – 15% of what you presently owe the IRS. The key is to determine the least amount that the IRS will accept from you before you make an offer.

An offer in compromise is beneficial for many people. It can be the best form of relief for many individuals suffering from years of financial hardship and burdensome debt.

Insight for Your Benefit

Insight for Your Benefit

Are you suffering from IRS tax collection pressure?

Are your financial hardships taking control of your life? Have your tax burdens placed a threat on your business, job, or career? Are you experiencing strain in your marriage, your relationships, your health, your credit, or your everyday life due to a fear of the Internal Revenue Service (IRS)?  Book an Appointment 

I believe that all of these things are integral to your well-being and your financial stability. You deserve to enjoy your life rather than fear that the IRS may be waiting for you around every corner. Financial freedom doesn’t have a price tag. Financial freedom is simply invaluable, and you deserve to experience it.

Whether you know it or not, everyone works with and handles money in one way or another. From making simple decisions such as spending money at a grocery store to putting a portion of a paycheck into a savings account, you weigh financial decisions routinely. Others make executive decisions for big business and financial exchanges that rule the economy and can even forecast future global economies. Financial decisions large and small can have a ripple effect on people’s lives, so enlisting help to make wise choices with your money and how to handle taxes can be extremely beneficial to your financial health.

Contact El Cid

Whatever your financial goals maybe, I can offer my insight to help you achieve your dream. Many people come to my office only dreaming about what a life of financial freedom could feel like. With help, from El Cid Bookkeeping, Inc. Accountancy and Taxation, financial stability could no longer be just a far-off dream; it could transform into a wonderful reality that brings peace of mind and happiness to you and your family!

When one thinks of an IRS revenue agent, one typically thinks of a person in a business suit who is a strict enforcer of standards, even if the cost of enforcing those regulations means putting you out of your home. At El Cid Bookkeeping, Inc. Accountancy and Taxation, you can trust that you will never be treated coldly as if you are merely a case number or file.  I have utilized my insider knowledge of IRS tactics and protocols to my clients’ advantage, thereby helping people out of seemingly hopeless financial situations.

I have the knowledge to help you quickly and correctly identify:

  • Insight for Your Benefit
  • Current tax problem status
  • Actions needed to prevent recurrence of tax problems
  • How to achieve tax return filing compliance
  • Proper presentation of financial information to qualify for lowest tax settlement possible
  • Problematic tax collection officers and how to manage or bypass them
  • Opportunities for appellate filings in pursuit of the best settlement
  • Opportunities for penalty abatement
  • Lien release or withdrawal opportunities
  • How to secure the release of levies

I take the approach of looking at the “big picture” because I genuinely care for your financial goals and your personal well-being. Your financial matters demand the attention of someone who is willing to play an active role in your financial recovery and use personal insight for your benefit. At El Cid Bookkeeping, Inc. Accountancy and Taxation, I founded my personal business philosophy on using my insight to help guide clients through their financial struggles.

Unique Experience & Unique Insight for Your Benefit

When you are facing financial hardships and fear that your tax burdens may become too overwhelming, you need to call El Cid Bookkeeping, Inc. Accountancy and Taxation. Only an experienced and educated Tax Preparer is fully qualified and in accounting and can provide effective financial advice. Not only do I have experience but I also have nearly 35 years of experience. Together, my unique experience and education have put me in the best position to be a trusted partner in helping my clients achieve their financial goals.

Becoming a Tax Preparer is a challenging journey, but for an accountant like me, the journey to becoming a professional, I can help people for a living. In my line of work, it is both personally and professionally rewarding to see individuals regain strong financial footing. Helping people recover from financial hardship may be a portion of my job description, but watching individuals leave my office with a feeling of hope and a renewed sense of life is what brings joy to my work.

If you are experiencing tax problems or need tax relief service, contact El Cid Bookkeeping, Inc. Accountancy and Taxation as soon as possible. Tax matters have the potential to be much more serious than one would think, and the faster that you take back control of your finances, the sooner you could experience relief! I offer free evaluations and would love to begin discussing the options that are available to you. Relief could be only one phone call away, so call my office to schedule your free appointment by speaking with a friendly and helpful member of my team. With my committed service at a competitive price, what do you have to lose? Call me at (818) 841-0255.

Tax Services Near Me

Tax Services Near Me

If you need help, please make a FREE Appointment



Free Book an Appointment

Free Income Tax Organizer

Pricing for 1040 Income Taxes

Pricing for Bookkeeping Services

Pricing for Business Income Taxes

 

IRS 1040 Tax Return

  • Form IRS 1040
  • Schedules A, B, C, CEZ, D, E, F, H, J, R,  SE
  • Form 8812 Child Tax Credit

We will prepare your IRS 1040 tax return for both State and Federal and e-file for you. Your return shall be prepared with the highest standards as for all of our clients.

 

BUSINESS TAXES    

  • 1120 –   S or C Corporations
  • 1065 –  Partnerships and LLC
  • 1041 –   Fiduciary Tax
  • 1041 –   Estate Tax
  • 990 –    Exempt Org (Non-Profit)
  • 709 –    Gift Tax

We will prepare your IRS tax return for both State and Federal and e-file for you. Your return shall be prepared with the highest standards as for all of our clients.

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Tax Planning Strategies

Tax Planning Strategies

Plan Your Taxes Today with El Cid

The goal of tax planning is to arrange your financial affairs in such a way that minimizes your tax burden. There are three basic ways to reduce your taxes, and each basic method may have variations. You can reduce your income, increase your tax deductions, and take advantage of tax credits.

Free Book an Appointment

Free Income Tax Organizer

Pricing for 1040 Income Taxes

Pricing for Bookkeeping Services

Pricing for Business Income Taxes


Effective tax planning is the key to successfully and legally reducing your tax liability. I proactively recommend tax-saving strategies to maximize your after-tax income.

I make it a priority to enhance my mastery and knowledge of current tax laws, complex tax codes, and new tax regulations. As a result, I consistently seek to further my education and understanding of all laws or regulations that pertain to my field of work by frequently attending tax seminars. I can use my extensive education to your benefit by quickly and effectively establishing a tax plan that can help you qualify for the lowest tax settlement possible.

Tax Saving Strategies

Tax planning can help you in a variety of ways. Aside from helping you reestablish behaviors and tendencies that will enable you to prevent recurring tax problems and allow you to recognize behaviors that can set you up for financial success in the future, tax planning can help you grow and preserve your assets without suffering high tax burdens or responsibilities. This course of action allows you to preserve your funds, keep more of your wealth and income, and helps you recover from financial hardship faster!

I can utilize the following tax-planning strategies to help you achieve your financial goals, help you keep your wealth, and allow you to maintain your lifestyle even until retirement!

Tax-saving strategies that could benefit you include:

  • Splitting income among several family members or legal entities in order to get more of the income taxed in a lower bracket
  • Shifting income or expenses from one year to another in order to have them fall where it will be taxed at a lower rate
  • Deferring tax liability through certain investment choices, such as pension plans, contributions, or other plans
  • Using certain investments to produce income that is tax-exempt from either federal or state or both taxing entities
  • Finding tax deductions by structuring your money to pay for things you enjoy

El Cid’s unique experience works for your benefit!

Often, my clients save many times the fee in reduced tax liability through careful tax-planning strategies.

Contact El Cid