Immigration Practice News

June 2014 (Vol. 5, No. 4)

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YOUR PRACTICE & PROFESSIONALISM RESOURCES: IPN Immigration Practice News Vol. 5 Issue 4 American Immigration Lawyers Association by Becki L. Young S teve Bowers and Linda Cahill are an accountant/ bookkeeper team who regularly advise law firms and other small businesses on tax and accounting issues, in addition to being small business owners themselves. Steve is a CPA and the owner of Tempchin & Bowers, and Linda Cahill is the owner of Arrow Bookkeeping, both located in Silver Spring, MD. Here's their top tax tips for small firm lawyers: Accounting Software Select a soware product that is right for your firm. It's best to get a recommendation from your accountant/bookkeeper as that person will need to be familiar with the soware you use. Linda and Steve recommend QuickBooks as the product that is easiest to use for small business owners. I used the desktop version when I ran my solo practice, and there is an online version as well. e online version includes free lifetime upgrades and support and makes it easy to share files with your accountant or bookkeeper. However, there are a few drawbacks—it does not integrate with the QuickBooks point of sale system, does not offer Bill Pay, and has less flexibility with regard to customizing forms or reports compared to the desktop version. Other options to consider include Xero, EZAccounting, Rocket Matter, and PCLaw. Payroll Service Even if you have only one employee, incorporating a payroll system will make your life, and your accounting/ bookkeeping, much easier. If you use Quickbooks, Intuit's payroll product integrates well. Paychex and PrimePay are additional options. Many banks (i.e. Citibank) also offer payroll processing with very reasonable rates for their small business clients. I ran my solo practice for several years without using a payroll service because I thought I wasn't large enough to need one. Trust me, the time and aggravation you will save in trying to calculate and remit payroll taxes makes the payroll service's fees seem like a bargain! Tax Tips for Small Firm Lawyers Mentor Directory ! ? Message Center Newsletter Archive Practice Success Tips Free AILA Resources! CONTINUED on pg.2 >> u ISSUE HIGHLIGHTS: Rejuvinate Your Form Letters 3 Metadata Ethics 4 Power of Storytelling 5 ALSO NEED SOME CASE MANAGEMENT HELP? Selecting the Right Case Management System for Your Practice (Free Podcast!) AILA + LIBRARY DAC A R E N E WA L S AILA Immediate Past President Laura Lichter shares insights on the newly released Deferred Action for Childhood Arrivals (DACA) renewal process. For more information and updates, please visit AILA's Deferred Action page. u

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