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Money:
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How much do Justin Time’s services cost?
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When is payment due?
- Cost Comparison vs. Employee
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- Qualifications:
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Who will actually be doing the work? What is a CPA?
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Are Justin Time's professionals qualified?
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- Services:
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Will Justin Time need access to my online banking?
- Will Justin Time prepare and sign checks?
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Does Justin Time prepare tax returns?
- Does Justin Time handle tax planning?
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What is the Telephone Support Program?
- Contracts:
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Is there a contract?
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How long is the contract?
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- Technology:
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Does Justin Time use
computers?
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What if I don't have a computer?
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Is my privacy protected?
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- Other:
- Who are
some of your current clients?
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I am interested in Justin Time’s services, what do I do
next?
How
much do Justin Time's services cost?
The cost for Justin
Time's services vary, depending upon which services you desire.
Obviously, the fees for a client with really poor record-keeping skills
will be different than fees for a well-organized client. Likewise, the
fees for a client requiring 20 hours of service per month will differ
from a client requiring only 10 hours of service per month.
Generally, the starting
cost for an average level of Justin Time's services begin as low as $350
per month. There are instances that justify a lower monthly billing,
particularly where Justin Time serves more of an advisory role than a
bookkeeper role. Justin Time will also consider working on an
hourly basis at a rate of $150 per hour, though hourly billing rarely
benefits a client. Generally, Justin Time will structure billing to
provide each client with a tax deduction related to the fees paid.
For less-intensive,
cost-conscious clients, Justin Time offers a telephone support program,
that provides ongoing client accounting and software support via
telephone for a nominal monthly fee of $295. Basically, if we can
answer the question over the phone, it's included in the monthly fee.
Questions requiring research may be billed based on our hourly rates.
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When
is payment due?
Generally, payments are
made via EFT from a checking or savings account. Payments are due
in advance of each month services are to be performed. This is because
a substantial amount of work is done up front by Justin Time to make
sure that your accounting system is set up completely, efficiently, and
effectively. In instances where there is an abnormal amount of work
required up front (such as when multiple businesses are involved),
Justin Time may require a security deposit and/or a guaranteed minimum
period of service.
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Cost
Comparison Vs. Employee?
The short answer: Service levels begin at a rate of $500 per
month.
Perhaps the most
frequently analysis that must be performed by a potential client is
whether using Justin Time can provide better quality work for less
money. Of course, we'll argue that better quality work should be
demanded at any price (within reason), but we get the point.
Generally, Justin Time's monthly retainer equates to between $12K and
$18K per year. Compare this with an employee. Bookkeepers
with even minimal experience are demanding salaries upwards of $40K per
year. Assuming that a business can find one to work part-time, it
will still cost $20K per year....plus insurance....plus vacation....plus
sick time....plus payroll taxes.
Thus, if a business can find an employee with minimal experience
willing to work part-time, the business will pay more money than a
typical Justin Time client pays for accounting services. In
addition, Justin Time provides a level of expertise that is commensurate
with a much higher-paid accountant (easily exceeding $100K per year)
without any of the typical headaches associated with employees.
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Who
will actually be doing the work? What is a CPA?
Justin Time has
two key employees that are
both Certified Public Accountants. These people will either perform the
work themselves or supervise others performing the work. Based upon a
substantial contact list with accounting and financial professionals,
Justin Time has a broad base of individuals to recruit to perform the
work, where their individual expertise may be best utilized.
A CPA is a
Certified Public Accountant. In Nevada, to become certified, one must
have completed a college education, with courses focusing on accounting,
finance, and economics topics. The person must have a minimum of two
years of experience working under the direct supervision of a licensed
CPA engaged in public practice. The person must satisfactorily pass the
Uniform CPA exam (a two and one-half day test) as well as an
ethics exam.
Thus, CPA's undergo
significant training and qualifying procedures and are required to
maintain current knowledge through continuing education at a rate of
approximately 40 hours each year.
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Are
Justin Time's professionals qualified?
Yes. Relative to
other firms offering similar services, Justin Time is able to offer
client services at a vastly higher level without charging vastly higher
fees. While not a professional CPA firm, Justin Time was founded and is
managed by two accredited, experienced, licensed CPAs. Clients
have the ability to say "I'll talk to my accountant" and a Justin Time
professional will be just one phone call away.
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Will
Justin Time need access to my online banking?
Yes. In order to work
efficiently, Justin Time will require access to online bank accounts,
credit card accounts, and any other online sources of information, such
as office computers, point of sale systems, etc. Justin Time can
assist in the setup of such accounts.
Justin Time does not
want, and generally will not accept any signature authority for client
banking and credit accounts. All that is needed is for Justin Time
to have the ability to see the transactions, not the ability to
create the transactions.
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Will
Justin Time prepare and sign checks?
Prepare, yes.
Sign, no.
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Does Justin Time prepare tax
returns?
Preparing your own income tax return can be a task
that leaves you with more questions than answers. According to a study
released by the US Government's General Accounting Office last year,
most taxpayers (77% of 71 million taxpayers) believe they benefited from
using a professional tax preparer.
Whether we like it or not, today's tax laws are so
complicated that filing a relatively simple return can be confusing. It
is just too easy to overlook deductions and credits to which you are
entitled. Even if you use a computer software program there's no
substitute for the assistance of an experienced tax professional.
Justin Time has contacts with Qualified Tax
Professionals that will accurately prepare your business tax returns.
Justin Time will act as your agent, facilitating the tax return
preparation and providing the tax preparer with information necessary to
prepare the tax return. In short, Justin Time seeks to free you from
the incessant information requests and mundane tax details, while at the
same time ensuring that your tax return is consistent with your tax
planning strategies. Justin Time no longer prepares tax returns.
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Does Justin Time handle tax
planning?
Many people believe that if they owe taxes at the end
of the year, then the tax planning process has failed. This is not
true. Tax planning should be considered a phenomenal success any time a
taxpayer knows, in advance, whether they will owe more tax dollars or be
entitled to a refund.
Not
knowing is the only failure.
Because most small business tax consequences fall on
its owners, the tax planning process requires knowledge of the
taxpayer’s entire financial picture. Justin Time will obtain an
understanding of this bigger picture to use in developing an overall tax
strategy.
Once a general understanding is achieved by Justin
Time, steps can be taken when possible to legally reduce your tax
liability. Justin Time goes beyond tax compliance and proactively
recommends tax saving strategies to maximize your after-tax income.
Remember, we work for you not for the IRS. Many of our
clients save many times the fee in reduced tax liability through careful
planning and legitimate tax strategies. In addition, many clients pay
less to have their taxes prepared because their records and
communications are much more orderly with the involvement of Justin
Time.
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What
is the Telephone Support Program?
Everyone -- individuals and
businesses alike -- should have someone they can call with questions.
Whether it is to discuss the differences between a corporation and a
LLC, how to record a transaction in Quickbooks, or how to print from a
computer, or how to respond to a notice from the IRS or other authority.
Justin Time has developed a Telephone
Support Program that allows individuals and businesses to call a
knowledgeable person and ask such questions, without worrying about how
much they will be charged. The cost is a monthly flat fee, which
generally allows unlimited telephone calls to have questions answered.
(Of course there must be SOME limits, which will only be imposed if this
service is abused.) Additionally, we openly and freely admit that while
we know a lot, we do not know everything. Thus, in the event that a
question requires research, additional charges may be imposed.
The monthly retainer amount is $295
for companies that are not Accounting Service clients of Justin Time.
The Telephone Support Program is included in Accounting Service clients’
monthly fees.
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Who
are some of your current clients?
Over the years,
Justin Time has helped many individuals and businesses. Clients include
Greentree Publishing, Inc. (Publisher of
The Almanac for
Farmer's and City Folk), Paladin Marketing, Inc., Coyote Cafe, Ltd.
(a restaurant), MM Investments, Inc., Robb Technologies (Engineering
Firm), Nevada Restaurant Association, Micatrotto Restaurant Group (a
restaurant chain Franchisee) and Paymon’s Mediterranean Café (a
restaurant chain). Click here for
references.
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Is
there a contract?
Yes. A contract
will be drafted to outline the terms of the agreement between Justin
Time and its clients. Justin Time takes the client relationship
extremely seriously and a good contract spells out the obligations of
both parties to the contract.
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How
long are the contracts?
Because of the
substantial amount of time and the level of commitment, contracts are
written for a minimum of twelve months.
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Does
Justin Time use computers?
Justin Time uses
computers extensively.
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What
if I don't have a computer?
It is not necessary
for you to be proficient with computers or even own one. Justin Time
will efficiently re-key your data into an accounting software for
analysis and reporting. If necessary, Justin Time will provide its
clients with access to a computer that they may use.
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Is my
privacy protected?
Yes. Accountants, like
other professionals who advise on personal financial matters, are now
required by a new federal law to inform their clients of their policies
regarding privacy of client information. Certified Public Accountants
have been and continue to be bound by professional standards of
confidentiality that are even more stringent than those required by this
new law. Therefore, we have always protected your right to privacy.
In the course of
providing our clients with our unique services, we receive significant
personal financial information from our clients. You should know that
all information that we receive from you is held in confidence, and is
not released to anyone outside GRIP, except as agreed to by you, or as
required under applicable law.
We retain records
relating to professional services that we provide so that we are better
able to assist you with your professional needs and, in some cases, to
comply with professional guidelines. In order to guard you nonpublic
personal information, we maintain physical, electronic, and procedural
safeguards that comply with our professional standards.
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I am interested in
Justin Time’s services, what do I do next?
To schedule a personal meeting, simply
complete the form at the bottom of any page on this website, or just
call us directly at (702) 240-3848. We look forward to working with you
to ease your concerns and providing you with the security that comes
from minding your own business.
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