Section Title
All About Us
J&L Business Solutions provides onsite services in Bighorn, Washakie, and Park Counties; and remote personalized bookkeeping services to a broad range of clients across the United States. As bookkeeping professionals, we are here to ensure that all of your financial needs are taken care of with your best interests in mind.
At J&L Business Solutions, LLC our staff specialize QuickBooks consultation and training services for individuals and small businesses. Our services also include office management and financial counseling activities like:
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Accounting and bookkeeping services for individuals and small businesses
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QuickBooks Software training and support,
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Basic tax preparation and filing assistance for individuals and families, and,
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Counseling to aid individuals and businesses in understanding basic financial principles, learning money management, and creating financial goals and strategies to work toward.
FAQs
How long should I keep my tax records?
What software does J&L use to provide their bookkeeping services?
What is the difference between tax planning and tax prep?
According to the IRS,
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Keep records for 3 years if situations (4), (5), and (6) below do not apply to you.
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Keep records for 3 years from the date you filed your original return or 2 years from the date you paid the tax, whichever is later, if you file a claim for credit or refund after you file your return.
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Keep records for 7 years if you file a claim for a loss from worthless securities or bad debt deduction.
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Keep records for 6 years if you do not report income that you should report, and it is more than 25% of the gross income shown on your return.
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Keep records indefinitely if you do not file a return.
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Keep records indefinitely if you file a fraudulent return.
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Keep employment tax records for at least 4 years after the date that the tax becomes due or is paid, whichever is later.
https://www.irs.gov/businesses/small-businesses-self-employed/how-long-should-i-keep-records
Experts at J&L are certified QuickBooks ProAdvisors, so we specialize in QuickBooks software as well as Quicken Desktop. But don't fret! We are open to suggestions and willing to flex to meet your needs.
What are the differences between an accountant, a CPA and a bookkeeper?
Both Certified Public Accountants (CPAs) and bookkeepers are accounting professionals. In the context of CPA vs bookkeeper, the primary difference between the two lies in their job responsibilities, salary, and professional stature. While a CPA’s key role is to provide financial advice, a bookkeeper is mainly responsible for maintaining an organized record of all financial transactions.
A bookkeeper keeps a history of every financial transaction in the accounting books. A CPA analyzes these books and offers appropriate financial advice. Thus, a bookkeeper and CPA complement each other to ensure that a company maintains a sound financial position in the long run.
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What Is Tax Planning?
By JULIA KAGAN​
Updated February 17, 2021
Reviewed by
Tax planning is the analysis of a financial situation or plan to ensure that all elements work together to allow you to pay the lowest taxes possible. A plan that minimizes how much you pay in taxes is referred to as tax efficient. Tax planning should be an essential part of an individual investor's financial plan. Reduction of tax liability and maximizing the ability to contribute to retirement plans are crucial for success.