Vince_Iannello ! Vince Iannello Professional Corporation

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About Vince Iannello

• Vince Iannello Professional Corporation was
  founded in 2016.  Founder Vince Iannello wanted
  to dedicate his professional life to helping
  entrepreneurs succeed.  At Vince Iannello
  Professional Corporation, we support small
  business owners by unifying tax, estate, and
  financial planning into one integrated
  service. Over the years, we have found
  satisfaction in helping hundreds of individual
  small business owners and real estate enthusiasts
  achieve their financial goals through an
  integrated approach to tax and financial
  planning. 

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Accounting For A Business

• Accounting for a business is the process of
  recording and analyzing financial transactions in
  a consistent, accurate way. It involves tracking
  income and expenses so that you have a clear
  picture of your companys financial performance.
  The information generated from accounting is
  extremely important because it helps you make
  better business decisions. You can set goals,
  identify risks and manage your cash flow with the
  information generated by your accounting
  software. There are several types of accounting
  methods, but the most common is Cash Basis
  Accounting and Accrual Basis Accounting. In Cash
  Basis Accounting, you record revenue when its
  received and expenses when theyre paid.

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How Tax Works For A Business

• The first thing we must know is how tax works for
  a business. Taxes are charged based on the income
  of a business. This is called the corporate
  income tax. Its important to note that
  businesses (not just corporations) have to pay
  taxes on their earnings as well. Businesses have
  a few options for how they can be taxed. The most
  common option is being taxed as a corporation.
  This means that the company itself is taxed as if
  it is a separate entity. There are other options
  are a sole proprietorship and a partnership.
  Chartered Accountant Vince Iannello, President of
  Iannello Associates Professional Corporation,
  can help you determine which business model will
  be best for your business.

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Importance of Bookkeeping and Accounting Together

• The most significant thing to know about
  accounting and bookkeeping is that they go hand
  in hand. They are both important for your
  business because they provide accurate financial
  information. If youre not keeping an accurate
  record of your financial transactions, you have
  no way to know how profitable your business is.
  One is the process of recording financial
  transactions consistently, accurately, and
  timely. The other is to analyze financial
  transactions for patterns, trends, and variances
  consistently. There are journals, and there are
  ledgers. Journals are where you record
  transactions as they happen. Accounting
  Professionals like Vince Iannello can help set up
  your business and get in on the right track for
  success.

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Understanding The Tax Process

• The first thing to remember is that there is a
  difference between tax planning and tax advice.
  Tax planning is the process of identifying your
  businesss tax obligations and managing these as
  best you can. Tax advice, on the other hand,
  occurs when someone has already completed this
  process and is providing you with a set of
  recommendations to follow. Tax planning is a more
  involved process since it requires you to
  consider your businesss circumstances. This is
  why you must have an accountant who can assist
  you with the planning process.

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For More Information Visit Our Website and Social
Profiles

• https//viprocorp.org/
• https//vinceiannello.co/
• https//iannellocpa.com/
• https//www.linkedin.com/in/vince-iannello-4604a42
  62/
• https//twitter.com/vince_iannello/
• https//www.pinterest.com/vinceiannello/
• https//muckrack.com/vinceiannello/
• https//flipboard.com/_at_VinceIannello/

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