CPA

Reasons to Save Money!

You’ve probably heard it time and time again, but saving money could be one of the most important things you can do in your life. There are a variety of great reasons as to why saving money is a great long term decision. You may or may not have enough money to pay for everything you need now, but taking the initiative to save money is never a bad idea. Here are a few great reasons to start saving now!

 

CPA in Hawaii

  • Emergency: It’s a great idea to set a fund aside to cover unexpected expenses that may arise. Surprise expenses like car repairs, sudden job loss, and medical emergencies are things that can happen, and having an emergency surplus of cash handy is a smart way to ensure you’ll be able to handle the hardships.
  • Retirement: The sooner you begin saving money for retirement, the less you will have to save in the future. Starting a retirement fund early is a great way to build financial stability in your older years. It’s a wise decision to contribute up to what your employer matches, and then gradually contribute more of your gross income.
  • Buying a House: Saving money to make a down payment on a house could be one of the biggest decisions you will ever make. If you’re able to save enough to pay the down payment up front, you can cut out the stress of loans and avoid high interest rates.
  • Education: Whether hoping to obtain a master’s or doctorate degree, or send your children to college, saving now is a great way to guarantee you don’t lose your shirt with student loans and high tuition prices.

There are many different reasons to save money! If you’re unsure on how to handle your finances, consider seeking out a CPA! If you’re looking for a CPA in Hawaii, don’t hesitate to contact Michael J. Yuda today!

CPA: The Nucleus of the Business World

Would you believe that being a CPA might be one of the most important jobs today? It’s no secret that the world is always getting more and more complicated, and financial concerns are the driving backbone of these complications. Over the last few decades, CPA’s have been responsible for handling many major issues for the government and even some of the world’s biggest corporations and organizations. A CPA knows the inner workings of the companies and clients they work for, and can effectively create and analyze financial information to see where a company or client is and where they need to go. A CPA is almost like a financial James Bond, always on top of the situation and an expert in the field.  Without CPA’s, the business world would crumble.

Without CPA’s, the business world would crumble.

Many businesses rely on a CPA to help guide them with investments, budget and even decide on expanding a company or waiting until more fiscally strong. It’s undeniable that a CPA may be one of the most important components of any business. Regardless of whether you’re part of a giant corporation, or just a small start-up company, it’s essential to hire a CPA that will help make important and often crucial decisions involving your finances. Skimping accounting can affect an entire business sector, and cause major problems. Finances and accounting are crucial to the success and stability of the business world, and a CPA is the nucleus of any business, as they can help control a businesses’ growth much like a cell.

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More Amazing Facts About Hawaii

CPA in Hawaii Fun Facts! 

Being a CPA in Hawaii has its advantages! Being able to enjoy the beautiful Hawaiian Islands on a daily basis is a dream come true. It seems that some people know very little about Hawaii besides what they see on TV, but Hawaii is a state that is rich with history and wonderment. Here are some more amazing facts about Hawaii:

  • Honulu is the nations 11th largest metropolitan area.
  • Hawaii is home to the world’s tallest mountain. When measured from its base at the ocean floor, Mauna Kea is the world’s tallest mountain.
  • There are 5 navigable rivers in Hawaii: Waialua, Waimea, Hanape’pe, Lumahai and Hanalei.
  • The Island of Maui is home to the world’s largest dormant volcano, Haleakala Crater.
  • The world’s most active volcano, the Kilauea volcano, is the most active volcano in the world.
  • Hawaii is the world’s leading producing of macadamia nuts.
  • From east to west, Hawaii is the widest state.
  • Honolulu is around 1,500 miles long.
  • Hawaii is the 42nd most populous state.
  • Hawaii is the only state in the entire United States that has continuously growing borders. The regular eruption of Mt. Kilauea is the contributing force behind the states growing borders.

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What to Look for In a CPA for Small Business

For many small-business owners, it’s a good idea to have an active accountant that can give advice  from the very beginning of your business. However, not all accountants are equal! Choosing the right accountant for your business can be a very daunting and stressful task if you don’t exactly know what to look for. When looking for a CPA or accountant it’s important to take the following into consideration:

Small Business CPA Hawaii

  • Ask yourself whether the person communicates well.
  • Can this person be contacted easily in case of an emergency?
  • Ask basic questions about small business book keeping practices to test the candidate’s knowledge of the topic.
  • Find a CPA that understands entreprenual spirit and doesn’t speak negatively about small business.
  • Find a CPA that doesn’t only speak in jargon. If you can’t understand anything  your CPA says, your relationship is doomed.
  • Choose CPA that feels like a partner and understands your entreprenual dream.

 

It’s extremely crucial to hire a CPA that is kind, knowledgable, helpful and flexible.  If you’re looking for a reliable CPA in Hawaii, consider Michael J. Yuda CPA, LLC. Michael J. Yuda can answer any questions you might have about accounting, tax preparation, business consulting, and QuickBooks. This Honolulu CPA firm is here to answer any of your questions, just simply contact us here.

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Why Should You Use QuickBooks?

If you are a seasoned QuickBooks veteran, you probably already know how useful and beneficial this amazing program can be for your finances. If you’re not entirely sure if QuickBooks is for you, consider the following:

QuickBooks can save you money!

  • QuickBooks allows you to manage your cash better. Using QuickBooks allows you to manage and maintain your finances, and accurately keeps track of spending and income.
  • QuickBooks is less expensive than other programs that do the same tasks. Not only does QuickBooks provide an excellent value, but the numerous resources for free support makes learning and using QuickBooks extremely easy.
  • Once you’ve gotten the hang of using QuickBooks, you’ll no longer need an outside accountant or bookkeeper to do your day-to-day books. QuickBooks will lessen the amount of money being spent on outsourcing your books, which in the long run can add up over time. Who doesn’t want more money in their pocket?
  • QuickBooks allows you to create reports at anytime, so you always know where you stand.

QuickBooks is a powerful and useful tool that can help achieve financial stability and success for your business or personal finances. However, not everyone is well-equipped to master this program, and some folks just don’t have the time to handle their own QuickBooks bookkeeping. If you’re looking for a QuickBooks ProAdvisor and CPA in Hawaii, contact Michael J. Yuda CPA, LLC!

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Top Three Personal Finance Apps

In today’s technological world, almost everyone is a smart phone user! We know Angry Birds is fun and all, but did you know apps exist that can actually help get your finances in order? If you’re trying to keep track of your finances by saving receipts and using a notepad and paper, it’s time to consider going digital! Below are some of the best personal finance apps you should download onto your smart phone!

Top Three Personal Finance Apps

  • Mint: Mint is the powerhouse of personal finance applications. This app, designed by Intuit is 100% free and allows you to enter checking accounts, savings accounts, credit cards and investment accounts and provides a useful and comprehensive picture of your financial health. It’s like having a CPA in your pocket, but not quite as good!
  • Personal Capital: Similar to Mint, this app allows you to manage your bank, credit and investment accounts all in one place. Personal Capital is great for those who just want a snapshot of their finances without a lot of bells and whistles.
  • Debt Minder: If you’re burdened by large loan repayments, keep track of them with Debt Minder. This app is available on the iPhone for $0.99, and allows you to keep track of balances and accrued interest. Using color coded graphics and charts, Debt Minder provides an excellent snapshot of where your money is going.

With a plethora of personal finance apps available, keeping track of your financial health has never been more convenient. However, if your financial troubles are more extreme and you’re looking for a CPA in Hawaii, contact Michael J. Yuda CPA, LLC!

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Planning for a Financially Stable Future

Planning for a Financially Stable Future

Chances are that you have heard it time and time again, but it will always be important to save money! Saving money is much easier said than done, but having an abundance of saved money can ensure financial stability in the future. If you’re constantly burdened by the thought of not having any savings and don’t know where to even start saving, consider seeking the help of CPA to help keep your finances in order. Below are a few tips that can help jumpstart your savings:

  • Get rid of any existing debt! The sooner you pay off any debt, the less interest you’ll accrue and the sooner you will be able to spend money. Once all debts are paid off, you can begin putting more money into your savings. If you want to save while paying your debt, consider consolidating debts to pay less interest.
  • Start an emergency fund. Setting aside enough money to survive on for 3-6 months is an excellent idea in the event you lose your job, or are faced with a financial catastrophe.
  • Set attainable goals and strive to meet them. Whether buying a house, or starting a retirement fund, it’s crucial to map out goals that you must meet in order to fulfill your financial wants. It’s also helpful to establish time frames within the goals.
  • Record all of your expenses. Keep track of all expenses in your daily life with the help of a CPA or yourself. This is a great way to know which adjustments to make on your spending habits.
  • Make a budget.  After balancing your earnings and setting savings goals, it’s important to budget your money in order to successfully save.

There are many tips and tricks that can help you save money, but a CPA can help guide you and keep your finances in order. If you’re afraid you can’t afford a CPA, it’s still important to keep track of your spending to help secure financial stability.

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What to Look for In a CPA

It’s no secret that taxpayers can benefit greatly by hiring a CPA to help file their taxes. However, like many of life’s decisions, you should not select a CPA blindly. Before you spend your hard-earned cash on CPA services, there are a few questions you should be prepared to ask to ensure you’re selecting a skilled professional for your situation. When it comes to filing taxes, it’s important to remember that the tax industry is ever changing and an appropriate CPA should be well-versed in new or ongoing changes within the industry. When searching for the best suitable CPA, keep these following questions at hand:

What should you look for in a CPA?

  • What licenses and background do you have?
  • How long have you been in the tax business?
  • Are there any particular tax-related issues that you specialize in?
  • Do you outsource any of the work you do? Will you be readily available if any questions arise?
  • Are you knowledgeable and experienced to handle my particular situation?
  • Approximately how long will it take to complete my work?
  • Do you maintain a strict privacy policy? Will my information be kept safe?
  • What are your current fees?

The most important factor to consider when selecting an experienced CPA to handle your taxes is whether or not they specialize and have immense knowledge on how to help with your specific problem. When searching for a competent and experienced CPA, don’t be afraid to ask questions. Always let a professional handle your tax return preparation, especially when you aren’t confident or well-versed to handle them yourself. If you’re looking for a dependable Honolulu CPA firm, Michael J. Yuda CPA, LLC can answer any questions you might have.

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Tax Return Preparation: Leading the Way to a Strong Financial Plan

Tax Return preparation! The thought probably never crosses your mind, but tax planning is an extremely integral piece of maintain a strong financial plan. Most people sadly don’t concentrate on tax planning, and scramble to get their taxes done every year so they can get the sweet little check! However, if you properly prepare for tax season, chances are your return will be much more satisfying. Tax return preparation should be maintained through an entire year, and not at the very last minute! Staying organized and keeping records is an excellent way to obtain a strong financial plan and get the most bang for your buck!

Taxes impact one’s financial well-being in a big way, especially for those who are self-employed or business owners. Take enough time to plan for the current year and make necessary adjustments to help keep things on track. Hiring a CPA is a great way to maintain financial success.  Tax law and changing tax codes happen all the time, which can affect your taxes in a negative way. Tax return preparation can help you be ready if those changes are a factor for you. Taking control of your taxes and saving money is what tax planning is all about! Who doesn’t want to save more money? When you actively keep records of your spending, realizing what you’re paying for can help you make cuts much easier.

Tax return preparation will help you take control of your taxes, and be ready well in advance when tax day springs upon us. It’s important to always remember that the tax code is complicated, and Michael J. Yuda,  CPA in Hawaii can help un-complicate them!

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5 Small Tricks to Save Time with QuickBooks

QuickBooks Time Savers!When it comes to QuickBooks bookkeeping things can get rather complicated and tedious. However, with a few tricks and tips, you can save time when you’re doing your QuickBooks bookkeeping. QuickBooks is an extremely powerful tool, but like any other advanced programs, QuickBooks has its learning curves. If you manage to do your own QuickBooks bookkeeping, then follow these amazing tricks to help save time when you’re bookkeeping.

  1. Batch Invoicing: QuickBooks allows a user to invoice multiple customers at once for the same item.  This simple trick can cut hours of time off every month.
  2. Customize your icon bar: Customizing our icon bar to include your most used features will make your bookkeeping easier and faster. I bet you wish you thought of that earlier!
  3. Price Changing: If you need to increase prices on a number of items on your list, don’t sit and change the number one-by-one. Using the change item prices tool to change selected items by a percentage will cut a large fraction of time off of your bookkeeping.
  4. Find:  The find feature is no secret to accountants, but many people overlook this amazing feature. The find feature in QuickBooks can helps do a speedy search for transactions, accounts, check numbers, items and any other material you may need. Using find will have you flying through your books.
  5. Email your invoices: If you’re going the old fashioned route and still sending paper invoices, make the switch to Email today! Setting up Email invoices is quick and will save you hours per month.

QuickBooks is a great tool, but hard to conquer without proper guidance. If you’re still stuck, or feel that you’re wasting a lot of valuable time, consulting Yuda QuickBooks ProAdvisor Hawaii can help put you on the right path.

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