Glendale, CA, September 08, 2011 --(PR.com
)-- William D. Truax, E.A. Inc. Tax Advisors (http://www.truax.net) are urging business owners to make it a priority to maintain accurate financial records for businesses of any size, for tax purposes and use in day to day financial management. They are also advising a solution to the task of organizing and maintaining such records, regardless of the state they were originally in.
Two purposes are apparent regarding why it's important to maintain perfect financial records. The first is to record a business' income and outgo accurately. Swift and in-depth use of the information in financial management allows its expenditures to be controlled and income sources to be tracked accurately. The second purpose is for the use of such information in tax preparation. Essentially, every time a business transaction occurs, a financial document is created. Having these organized in an accessible system allows tax preparation to occur easily and for defensible records to be accessed quickly if needed.
William D. Truax E.A. Inc. can help businesses organize all of their financial records, no matter the state they're in beforehand, even a shoe box full of receipts. They can also continue bookkeeping services for the business or teach them how to do it on their own.
Founder of the firm, William D. Truax E.A., stated “For most businesses, going through the ordeal of arranging all of their financial records while running the day-to-day operations of the company, is a daunting task. For a small business there just aren't enough hands to keep track of it all and expand the business at the same time. For a larger corporation the financial records could be staggering, requiring months of sorting every single year. At William D. Truax, E.A. Inc. we offer a simple, effective program to quickly get this first vital step of handling your financial matters completed to your total satisfaction.”
Mr. Truax has been a tax practitioner and financial consultant in private practice for over thirty years. He is admitted to practice before the IRS and all state tax agencies and is also a member of the bar of the United States Tax Court. As a fellow of the National Tax Practice Institute, he is an Accredited Tax Advisor and a member of the National Association of Enrolled Agents. Mr. Truax was a founder and Director of Professional Business Bank in Pasadena, CA, and was chairman of the bank’s investment committee, responsible for control and oversight of over $100 million in bank assets. Mr. Truax has been active in numerous philanthropic endeavors and is currently a trustee or a board member of several active charitable organizations.