Southern Nevada small-business owners can find plenty of affordable help, online and in person, with their questions on how to tackle bookkeeping, accounting and tax chores — and whether to outsource them. Here are a few resources:
Nevada Industry Excellence, which is part of the Nevada System of Higher Education, works with client businesses to improve their performances in many areas. Business Manager Terry Culp said it’s crucial that businesses set up bookkeeping and accounting systems that are reviewed at least annually by an outside accountant and that business owners understand the company’s financials. Culp has encountered startups that did their bookkeeping out of a shoebox full of receipts, and he’s helped them get on the right track. In working with clients, he asks if they have a general ledger, accounts receivable, accounts payable, keep personal and company finances separate and use GAAP accounting (Generally Accepted Accounting Principles). If they don’t, or give him a “deer in the headlights look,” he and his team work with them to improve their bookkeeping and financial reporting systems.
See the Nevada Industry Excellence website at nevadaie.com or contact Culp at [email protected] or 895-2615.
Southern Nevada SCORE (formerly Service Corps of Retired Executives) offers confidential and free mentoring services, workshops and other services for businesses.
See its website at scorelv.org or call 388-6104.
The nonprofit Nevada Microenterprise Initiative offers entrepreneurial training, technical assistance and other services. Its website is 4microbiz.org and it can be reached at 734-3555.
The Nevada Small Business Development Center is part of the UNR College of Business. It has offices at UNLV and in Henderson. Its website is nsbdc.org and its local number is 895-4270.
The IRS.gov website includes entire sections with material of interest to small businesses, charities and nonprofits. For instance, the Affordable Care Act (aka Obamacare) includes tax credits to encourage small employers to offer health insurance to employees. See the website for details.
The Nevada Department of Taxation website — tax.state.nv.us/ — has basic information on the 19 taxes collected by that agency, including the state sales tax and the modified business tax (a payroll tax). The department offers free basic training workshops for new and existing businesses called “Ask the Advisors.” The sessions include information on some of the taxes collected by the department, plus presentations by the IRS on federal taxes and by SCORE. In the Las Vegas area, "Ask the Advisor" sessions are planned at the agency’s Henderson office on Feb. 21, March 20, April 17, May 15, June 19, July 17, Aug. 21, Sept. 18 and Oct. 16. Space is limited. To reserve seating, contact the department at 486-2354. For more information, see its website at tax.state.nv.us/meetings.htm#advisors.
The IRS and the Nevada Minority Supplier Development Council on Feb. 8 are launching a free four-week class covering how to choose the right tax preparer, basic business record keeping and federal wage reporting for tax purposes, determining if someone is an independent contractor or an employee; and preventing identity theft and phishing.
For information, call 894-4477 or email [email protected].