5 Ways TMS II Can Give Your Startup A Head Start

Posted by on Dec 3, 2016 in Blog | 0 comments

At TMS II, we understand the struggles that startup entrepreneurs face, because we’re entrepreneurs ourselves! If you are new in business and eager to get started, let us provide you with the clarity, structure and focus you need to give your startup a head start! Here are 5 ways partnering with TMS II can help:  Startup consultation – we will spend a half or full day with you discussing the considerations for starting and operating your business.  Business entity clarification – let us walk you through all of your options and help you decide what the right business is for you.  Setting up your company – leave the paperwork to us! Once we come to a decision on which type of business is right for you, we will help you make it official.  Financial coaching – once you’ve established your business, the work has just begun. Our financial coaching can provide you with the roadmap necessary to plan out and reach your financial goals.  Tax preparation and planning – we offer our CPA services at an introductory rates for new business owners. If you are in any stage of the startup process and you are looking for some guidance, contact us today. TMS II, LLC is a women-owned Philadelphia CPA firm located on South Third Street. Are you on your path to financial excellence? Cover more ground by following us on social...

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Scam Alert! 2016 IRS Email Scheme

Posted by on Feb 21, 2016 in Blog | 0 comments

The IRS is reporting a 400 percent surge in phishing and malware occurrences so far this tax season. TMS II, LLC is warning people to look out for emails and text messages about: Your refund information Your filing status Your personal information Your PIN information If a taxpayer receives an unsolicited email that appears to be from either the IRS e-services portal or an organization closely linked to the IRS, report it by sending it to phishing@irs.gov. Find out more about how you can protect yourself against IRS email schemes by clicking...

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3 Reasons You Should Consider Hiring a CPA

Posted by on Jan 15, 2015 in Blog | 0 comments

It’s that time of year again – the time you start digging up old receipts, compiling forms, rushing to meet deadlines, and being all together confused.. Yes, it’s tax season. Maybe you considered hiring a Certified Public Accountant (CPA) last year, or have it on your wish list for this year, but either way, this time of year is always when you wish you had one, so in case you need an extra push, here are three reasons you should consider hiring a CPA: Knowledge – We stay up to date on accounting and tax regulations and laws and have access to resources to enhance our knowledge. For example, we have a strong knowledge base through our professional affiliations, such as our State Accounting Societies and the American Institute of Certified Public Accountants which assist us in keeping current on professional standards, laws and regulations, and other matters pertinent to us. Education – A degree from a college or university is required, along with practical experience to be a Certified Public Accountant. For example, in Pennsylvania, CPAs are required to have at minimum a bachelor’s degree from an accredited college or university. We also must pass a rigorous exam and complete 1,600 hours of work experience within five years of applying for our license. Our state license is maintained by completing 80 hours of continuing education every two years. Code of Professional Conduct – CPAs must adhere to regulations and rules in the performance of their professional responsibilities. Their state societies also maintain ethical regulations which CPAs are required to follow. In Pennsylvania, as part of their continuing education, CPAs have to complete ethics courses as part of their continuing education. When working with a CPA, clients derive peace of mind knowing that they have someone with this knowledge, education and code of professional conduct. If you’re considering hiring a CPA this tax season, click here for more information about how TMS II, LLC can partner with you to make tax season a...

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3 Thanksgiving Dinner Rules That Apply to Your Finances

Posted by on Nov 26, 2014 in Blog | 0 comments

1. Leave room for dessert It’s tempting to fill up on the main course. Turkey, mashed potatoes and stuffing are what you look forward to all year. When it comes to your finances, these Thanksgiving staples can be compared to semi frequent purchases like new clothing or electronics. While I encourage indulgence, I am not a fan of it causing discomfort, and in some cases extreme discomfort. So save some room for pumpkin pie at Thanksgiving dinner and save money to support your wealth building. When you set a focus, and follow a structure, for your financial well-being, it motivates you to achieve your goals, such as putting money aside for retirement, buying a new home, or going on a dream vacation. 2. Be present at the table In our house, we have a ‘no phones at the table’ rule. It’s easy to get distracted and miss out on conversation when you’re looking down at your techy, can-do-it-all gadget instead of forward, making eye contact with another and fully engaging with them. The same rule applies to your finances. Even if you have a partner that manages the finances, an accounting department or a CPA, you cannot allow yourself to be disengaged from conversation about your finances. Being completely present to, and having clarity about, where you stand financially and where you want to be is an important step on your road to financial excellence. 3. Be thankful for what you have Thanksgiving is a day to feel and express your gratefulness for everything you have and everyone around you. When I work with my clients, I encourage a ritualistic practice of gratefulness. Being grateful for what you have cultivates an environment of abundance . Whether you’ve just opened a savings account, or you recently got approved for a small business loan – you have a reason to stop, own your accomplishment, and to be thankful for those who helped you achieve that success. This Thanksgiving, I’m thankful for all of my wonderful clients, my amazing co-workers and my supportive family and friends. I wish you all a happy, healthy and relaxing...

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