Virtual Bookkeeping

Small/Medium Business Services:

• Small/Medium Businesses are our specialty.
• We understand your doubts and needs and we want your success.
• Our goal is to support you on every aspect, so you can be focussed on your business.
• We can assist you with income, sales, and withholding taxes.

When do I file and/or pay?
How do I run my business?
How do I qualify my business income?

Bookkeeping:

GlobalBiz Services, full-charge bookkeeper handles all your daily financial needs: invoices, statements, accounts payable, cash receipts, disbursements, payroll, bank reconciliations and recurring reports. Your bookkeeper will be in contact with you daily by instant messenger, email or phone with any questions or concerns.

GlobalBiz Services, understands the issues faced by small businesses. We’ve been working with entrepreneurs responding to their tax questions, financial management issues, and cash flow concerns that can make or break a small business. GlobalBiz Services, knows what you’re up against, and has the expertise to help you minimize headaches and maximize profits.

Deductible Expenses:

Business expenses are the cost of carrying on a trade or business. These expenses are usually deductible if the business is operated to make a profit.

What Can I Deduct?

To be deductible, a business expense must be both ordinary and necessary. An ordinary expense is one that is common and accepted in your trade or business. A necessary expense is one that is helpful and appropriate for your trade or business. An expense does not have to be indispensable to be considered necessary.

It is important to separate business expenses from the following expenses:

• The expenses used to figure the cost of goods sold,
• Capital Expenses, and
• Personal Expenses.

How do I qualify my business expenses?

No one wants taxation troubles with USA government, but if you have some, it is not a good idea to solve them only by yourself. A simple answer could cost money; select the wrong assistance could cost you even more

Let us help you!!

We represent you before federal and state agencies, and insurance companies.
IRS Audit
What should I do If I receive a letter or notice?

Consulting and Finacial Statements

• Processing and issuance of financial statement, monthly or quarterly
• GlobalBiz Services will assist you according to your business needs. We can give you a complete financial consultant services, common business solutions without hiring a full time personnel
• We have many resources and a professional staff to help you in every aspect you need.

Our customers provide services as:

Building industry, Painting, Gardening, Restaurants, Bars, Stores, Car Shops, and others.

Sales Tax:

Most of business has to pay sales taxes by law.
We can advise and help you if your business qualifies to pay taxes.

Should I be collecting Minnesota sales tax?

You may need to collect Minnesota sales tax if you do any of the following in our state:

make sales of taxable goods or services, attend trade shows and display goods, solicit sales, make repairs, do warranty work, or provide or arrange for maintenance or service to property sold, install or assemble products, investigate, handle or otherwise assist in resolving customer complaints, provide customers any kind of technical assistance or service, including

but not limited to, engineering assistance, design service, quality control, product inspection, or similar services, make deliveries in vehicles owned, leased, or maintained by you or by a party acting on your behalf, maintain an office, place of distribution, sales or sample room or place, warehouse, or other place of business either directly or by a subsidiary, have a representative, agent, salesperson, canvasser, or solicitor (either permanent or temporary), who operates under your authority or your subsidiary in Minnesota for any purpose, including repairing, selling, delivering, installing, or soliciting orders for the retailer’s goods or services, or lease taxable items.

What is my sales tax rate?

Closing your business

There are typical actions that are taken when closing a business. You must file an annual return for the year you go out of business. If you have employees, you must file the final employment tax returns, in addition to making final federal tax deposits of these taxes. Contact us; we can help you to avoid any future problem.

What should I do if I close my business?

Collaborative Accounting Services

Working together to meet your business goals.

You may have concerns about migrating from your existing accounting system. Rest assured that we’ll make upgrading to Account Relief far easier than you may think. We’ll take care of it all, from sesting up the system for you and personalizing it, to migrating your existing data.

We’ll then offer individualized training on the system for you and your staff. While the collaboration and convenience of Accounting Relief are revolutionary, the system itself works so much like other accounting software that it usually takes very lile me to learn. By investing a lile training me upfront, you’ll save a lot of me and money later – and be able to more efficiently manage your business finances.

And of course, if you have any questions, you’ll receive the same timely and courteous personal support from your firm that you’ve always relied upon.

• You work on an accounting system designed for your business’ specific needs. It simplifies your work and minimizes errors.
• You no longer have to transfer files to us, which is a cumbersome process.
• Your firm and ours work together on the same secure online environment, so you receive pinpoint support, and no longer have to transfer files to us.
• You never have to purchase or maintain an in-house accounting system again.
• You’re able to manage your cash flow more effectively, thanks to real-time snapshots of your business’ financial health.
• You can do your accounting work 24/7 from anywhere with an Internet connection.
• You never have to worry about losing your accounting data, due to viruses, hard disk crashes, or transferring it from one computer to another.

To learn more about what this system can do for your business, please contact our office to schedule an appointment.