Frequently Asked Questions

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Business Accounting Services

How does JL Wennes CPAs support small to midsize businesses beyond basic accounting?

We don’t just record numbers — we interpret them. Our team provides strategic financial reviews and guidance that help you understand your business’s performance, identify opportunities for growth, and plan ahead with confidence.

What role do financial reviews play in my business strategy?

Regular financial reviews give you a clear picture of profitability, cash flow, and risk. At JL Wennes CPAs, we use these reviews to help owners make informed decisions on pricing, staffing, expansion, or reinvestment so your business grows stronger.

How can JL Wennes CPAs improve my overall financial strategy?

We look at your entire financial picture — not just the books. From tax planning to forecasting and budgeting, we develop strategies to reduce risk, improve efficiency, and align financial decisions with your long-term business goals.

What business accounting services do you provide?

We offer complete accounting solutions, including bookkeeping, payroll, accounts payable/receivable management, tax preparation and planning, and compliance reporting. These services form the foundation for our bigger-picture advisory and strategy work.

How do I know if my business is ready for strategic accounting services?

If your business is growing, facing complex decisions, or you want to move beyond reactive bookkeeping, you’re ready. JL Wennes CPAs specializes in helping small to midsize companies step into proactive financial management with the same tools larger businesses rely on.

Individual Tax-Related Questions

When should I start preparing for tax season?

It’s best to prepare year-round. Keep track of important documents such as income statements, expense receipts, and investment records as you go. Ideally, you should meet with your accountant in the fall to plan ahead for deductions, estimated payments, or year-end strategies. This proactive approach ensures fewer surprises during filing season.

How can an accountant help me save on taxes?

• Identify eligible deductions and credits.
• Recommend retirement contributions or investment strategies to lower taxable income.
• Assist with timing of income and expenses for maximum benefit.
• Ensure compliance while minimizing liability.
• Help with specialized strategies such as charitable giving, home office deductions, or business expense optimization.

The savings often outweigh the cost of hiring a professional.

What’s the difference between a tax preparer and a CPA?

• A tax preparer may have limited training and can only help with filing tax returns. They often focus on data entry.
• A CPA (Certified Public Accountant) has extensive education, has passed rigorous exams, and is licensed to provide not just tax preparation, but also financial analysis, planning, audits, and advisory.

Working with a CPA offers a higher level of expertise, especially for complex situations.

Do I need a tax accountant if I’m self-employed?

Yes, self-employed individuals often benefit from working with a tax accountant. Self-employment taxes, quarterly estimated payments, deductions (such as home office, mileage, and health insurance), and business expense tracking can be complex. A CPA ensures compliance and helps maximize deductions, which can significantly reduce your tax burden.

What documents should I gather before filing my taxes?

Common documents include:
• W-2s (for employees) and 1099s (for independent contractors or investment income).
• Records of self-employment income and expenses.
• Mortgage interest statements, property tax records.
• Investment and retirement account statements.
• Receipts for deductible expenses (medical, charitable donations, education).
• Prior year’s tax return.
• Any correspondence from the IRS or state tax agencies.

Having everything organized upfront helps ensure an accurate and efficient filing process.

Questions About Accounting Services

What does an accounting firm do?

An accounting firm provides a wide range of financial services to both individuals and businesses. These services typically include bookkeeping, preparing financial statements, tax planning and preparation, payroll processing, audits, and business advisory. The goal of an accounting firm is to ensure that financial records are accurate, compliance requirements are met, and clients are positioned to make informed financial decisions.

How can an accountant help my small business?

An accountant can help small businesses by:
• Setting up proper bookkeeping and accounting systems.
• Preparing financial statements to track profitability and cash flow.
• Handling tax planning to minimize liability and avoid penalties.
• Advising on business structure, growth strategies, and budgeting.
• Ensuring compliance with federal, state, and local tax laws.

Ultimately, accountants free up your time so you can focus on running and growing your business.

What’s the difference between a bookkeeper and an accountant?

• A bookkeeper handles the day-to-day recording of financial transactions, such as tracking income and expenses, managing payroll, and reconciling accounts.
• An accountant interprets and analyzes that financial data to provide insights, prepare tax returns, create financial reports, and offer strategic advice.
• Both roles are important, but accountants typically provide a broader scope of financial guidance and planning.

Do I need an accountant if I use accounting software?

Accounting software is a useful tool for recording and organizing financial information, but it doesn’t replace the expertise of an accountant. Software cannot provide tax strategies, ensure compliance with changing regulations, or give personalized financial advice. Many clients use both — software for daily tracking, and an accountant for review, tax planning, and business guidance.

What should I look for in an accounting firm?

When choosing an accounting firm, consider:
• Experience & credentials (CPA designation, industry knowledge).
• Range of services offered (tax, bookkeeping, advisory, audits).
• Reputation and client reviews.
• Communication style and responsiveness.
• Technology & security practices for handling sensitive data.
• Fit for your needs, whether individual or business.

The right firm should feel like a trusted partner who understands your financial goals.

Frequently Asked Questions

Business Accounting Services

Individual Tax-Related Questions

General Questions & Answers

Questions About Accounting Services