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Hiromi K. Stanfield, CPA Inc.

Irvine Accounting Firm - U.S. and Japanese Taxation ・ Over 20 years of experience in accounting ！ Company formation. Accounting services and financial statement preparation. Human Resources ・ Payroll.

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    • Useful info / Finance / Insurance
    • 2024/05/10 (Fri)

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    How to Prepare a Cash Flow Statement ： A Guide for Small Business Owners

    A cash flow statement is an important tool for managing a business's cash flow and planning for the future. Especially for small and medium-sized businesses, preparing a cash flow statement is essential to understand the day-to-day status of operating funds and to prepare for unforeseen events. This article will detail the basic methods of preparing a cash flow statement and its importance.

    What is a Cash Flow Statement
    A cash flow statement is a tool for visualizing a company's financial position by forecasting cash inflows and outflows over a specific period. This enables effective cash management by identifying in advance when cash will be insufficient and when there is room to spare.


    Steps to Create a Cash Flow Chart

    Set the Period
    When creating a cash flow chart, define the period you wish to manage, such as weekly, monthly, or quarterly. If you are creating a cash flow statement for the first time, it is recommended that you start by creating it in monthly units.

    Forecast Cash Inflows
    List cash inflows from （ major revenue sources ） such as product sales, services rendered, royalty income, etc. It is important to forecast based on past performance and order information.

    ↓ To be continued ！
    https://www.hkstanfield.com/blog/cashflowtable/

    • Useful info / Finance / Insurance
    • 2024/05/03 (Fri)

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    Required Filing of Form 5472 for Japanese Owners of U.S. LLCs

    The U.S. business environment is very attractive and has been chosen by many international investors and entrepreneurs because of its accessibility and flexibility. In particular, tax reporting requirements come with the territory when a Japanese resident is the owner of a US LLC （ Limited Liability Company ）. This blog will focus on the details and importance of the Form 5472 filing requirements, with particular emphasis on the Form 5472.

    What is Form 5472 ？

    Form 5472 is the "Information Return of a 25% Foreign-Owned U.S. Corporation or a Foreign Corporation Engaged in a U.S. Trade or Business" IRS （ U.S. Tax Administration ） form. It is required to be filed when a U.S. corporation or LLC is more than 25% owned by a foreign person or company, or when a foreign corporation is doing business in the U.S. This will allow U.S. and foreign tax authorities to better monitor international transactions and tax flows.

    Filing requirement for LLCs owned by Japanese residents

    Even if the U.S. LLC is considered a "transparent" tax transparent entity （ i.e., its income is directly attributable to the owner ）, the foreign owner （ including Japanese residents ） and is engaged in "commercial activities" （ trade or business ） in the U.S., then Form 5472 must be filed. It is important to note that this form is required to be filed if the LLC is engaged in business in the U.S.


    ↓ Click here to continue reading ！
    https://www.hkstanfield.com/blog/llcforeignowner/

    • Discount / Finance / Insurance
    • 2024/04/27 (Sat)

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    Hiromi K. Stanfield, CPA Inc.'s Bookkeeping Services

    For those who want to focus on their business and free themselves from the hassle of accounting, we can take the burden off your shoulders ！

    We also offer support for those who wish to do their own accounting and learn the art of bookkeeping. Expert guidance is provided to ensure that skills are developed.

    We offer our clients a special discount on income tax or corporate tax return preparation fees ！ This is an opportunity not to be missed.

    We are flexible to any needs and offer the best service for each customer. Please feel free to contact us.

    Please take this opportunity to use the bookkeeping services of "Hiromi K. Stanfield, CPA Inc. We can help your business succeed ！

    📩 Contact us ：
    Email: info@hkstanfield.com
    Phone: 1-949-281-1219

    Take Action Now ！

    • Useful info / Finance / Insurance
    • 2024/04/24 (Wed)

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    For Business Owners ！ The Importance of Financial Statements and Accounting Bookkeeping

    For business owners operating in the U.S., an accurate understanding of their company's financial condition is an essential component of their business strategy. In particular, the Balance Sheet （ Balance Sheet ）, Income Statement （ Income Statement ）, and Cash Flow Statement （ Cash Flow Statement ） are important indicators of the health of the business . This article explains the role of these financial statements and why daily accounting entries are important. In addition, we will discuss the relevance and differences between the financial statements and the end-of-year corporate tax returns (LLC, S-Corp, C-Corp, and Partnership).

    What are Financial Statements
    The primary financial statements, the balance sheet, income statement, and statement of cash flows, each contain different information and provide important measures of the health of the business along with the time period each document represents.

    Balance Sheet （ Balance Sheet ）

    Main accounts:
    Assets ： Cash, accounts receivable, inventory, fixed assets, etc.
    Liabilities ： Accounts payable, debt, taxes payable, etc. Shareholders' equity ： Share capital, retained earnings, profit carried forward, etc.

    ↓ To be continued ！
    https://www.hkstanfield.com/blog/ financialstatements/

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