Stay Organized and In Control of Your Financials
At NestEggg Accounting Services, our goal is to help you find the solution that meets your needs. Whether you just need initial set-up services and will do the rest yourself, or whether you want to fully outsource your accounting/finance department, or whether you are somewhere in between, we can do it for you.
Our rates are competitive, and our systems intuitive and customized to meet your demands. Our fully integrated outsource solution can save you almost 45% of the cost of a traditional in-house accounting department (includes nopayroll taxes), and will give you more time to be productive.
Our services fees are between $75.00-$125.00. Our average bookkeeping rates $95.00 hour. NestEggg, works simultaneously with you, your employees, vendors and our tax affiliate EgggsAct Tax Inc. to ensure that our services are several steps above that of our competition. Don’t underestimate the value of skilled, diligent bookkeeper/accountant. It’s difficult to gauge the amount of time spent per client, as each client’s needs are different, but an open line of communication is priceless. Without prompt replies, answers are found by searching, online, the phone, via email or within historical data and this task can be costly.
At NestEggg we “don’t round up”, our fees are billed by the hour, “if we are in your account for 11 minutes, that’s all we charge for”! If you decide to work with us, know that we want the work and want to stay busy, but also want you to maintain a proper accounting system and budget so you tell your friends about us. As a result, we strive for as many automated features as possible (to be discussed at an intake meeting) that requires feedback from each client on each email sent or message left.
Bookkeeping should be easy, even if you have no accounting or bookkeeping experience
Compliance and transparency are what we are all about, The task of bookkeeping may seem easy, but wait until you have one make a mess of your books. It can cause troubles for years and cost thousands in unnecessary accounting fees and possible tax related headaches and penalties.
Our specialty is QuickBooks Online, but we do use all desktop versions too. We are QuickBooks Certified Pro Advisors, and we provide you peace of mind, knowledge and information. We handle consulting, installation, set-up, training, and 3rd-party integration where required.
Bookkeeping should be easy, even if you have no accounting or bookkeeping experience. We will make sure that you are prepared so there never should arise a situation that is considered an emergency or that requires anyone to “scramble”. Your accounting/bookkeeping system, if maintained correctly, should be easy and transparent. Everyone with access to the financials should be knowledgeable and up to speed at all times.
We have implemented advanced technology to provide seamless accounting and bookkeeping for you and your business. We want you to participate as much as possible, so teaching you how to help maintain your own financials is extremely important to us. We can work remotely or even invite you to work from your home or office, on our networks for your peace of mind. We’ll help you get your company set up in minutes. Once you’re set up, familiar onscreen forms like checks & invoices make it easy to start working right away. We also have access to extensive help topics and tutorials and integrated applications. Your account manager is always there when you need them.
Consider us your business partner. We have a tremendous amount of experience dealing with issues identical to the ones you and your business face, and we offer all the accounting and bookkeeping services most small and mid-size businesses need “under one roof.”
Low Monthly Rates$19.95 monthly
3.15% + 25¢
Electronic bank payment / ACH
Mobile credit card reader
Pay As You Go$0 monthly
2.4% + 25¢
3.4% + 25¢
Electronic bank payment / ACH
Mobile credit card reader
Subject to credit and application approval. See the Merchant Agreement for complete terms and conditions, including additional pricing information. To apply, you must be eligible under our Acceptable Use Policy. Terms, conditions, prices, payment, features, and services are subject to change.
- Customizes invoices, statements, and other reports
- Creates estimates for smarter billing and speeds invoicing
- Tracks accounts receivables, checking accounts, inventory, purchase orders, and time
- Supports online banking and bill payment
- Automates job costing
- Makes accounts payable painless
- Keeps your data safe and secure with the latest data encryption technology
NestEggg and QuickBooks offer the convenience and freedom to work from the office, home, on the road and even on a smart phone.
What We Offer
- Installation – We will install QuickBooks on your office PC, in either single-user or multi-user mode
- Setup – Many QuickBooks users have ongoing difficulties for years simply because their setup process was incorrect or incomplete. We assist new QuickBooks users with initial setup including EasyStep Interview, Preferences, Lists, Customers, Vendors, Employees, Banking and Reports.
- Training – We will train as many people at your company as you wish to have trained. This can take place at your business or at our office. It’s your choice.
- Support – With our monthly accounting plans, we provide as much ongoing support as you need. Use email or you can call us as many times as you want. It’s all included in your monthly invoice.
We are Certified QuickBooks Professional Advisors who can setup your system, and train and assist you and your staff with QuickBooks issues.
Streamline Your Payroll
While a necessary part of any business, let there be no doubt that payroll can be a headache, especially if a business owner doesn’t know what is expected. Add on a stiff penalty for failing to file a tax payment or for being a little late, and the headache can grow into something that even your favorite painkiller cannot ease!
As with all outsourcing, choosing the right payroll services provider (PSP) can provide a lot of pluses, such as a less expensive, simpler means of paying your employees, filing your taxes, and performing a host of other duties. However, if you select the wrong provider it can be one of the most frustrating experiences you will ever have in your business.
Choosing the right payroll services provider (PSP) can provide a lot of pluses
QuickBooks Online Payroll will automatically charge you a monthly fee of $39.00* until you cancel the service. Each employee you pay is an additional $1.50 per month. Pay up to 150 employees. Service includes 1 state. If you file taxes in more than one state, each additional state is $12 per month. If you add or remove services, your service fees will be adjusted accordingly. Sales tax may be applied where applicable.
Billing occurs on the same day each month. You may cancel QuickBooks Online Payroll at any time by contacting your NestEggg Account Manager. Your service includes filing taxes in one state. If you file taxes in more than one state, each additional state is $12 per month.
* Fees are subject to adjustment. You will be notified of any change in fees at least 30 days in advance of the effective date, directly from Intuit. Special fees apply to exception processing. For details, contact your account manager.
Easily Manage Payroll
- “To Do” list to help you keep track of important deadlines
- Ability to allow different levels of access to the accounts
- Firm-branded payroll website
- One-click access to client taxes from a single screen
- Customizable client marketing resources to grow your practice
- Payday email reminders
- Voluntary deductions: retirement plans, insurance premiums, etc.
- Vacation, sick day and holiday tracking
- Garnishment calculations
- Paycheck and pay stubs can be printed from any computer
- Paycheck printing on either pre-printed or blank check stock
- Direct deposit at no additional charge
- Pay types: salary, hourly wages, bonuses, tips, expense reimbursements, holiday pay, and more
- Payments to independent contractors
- Secure client employee website for pay stub access
Federal Tax Deposits and Filings
- Electronic federal tax payments and filings
- Email reminders for federal tax deposits and form filings
- 8109 deposit coupon worksheets
- Automatically completed 941, 944, and 940 forms including electronic filing
- W-2s, including electronic filing with SSA at no additional charge
- Federal W-4, I-9, and employer registration forms
State Tax Deposits and Filings
- Electronic state tax payments in most states
- Electronic state tax form filings in most states
- Multi-state support
- Email reminders for state tax deposits and form filings
- Automatically completed state deposit coupons
- Automatically completed quarterly and annual filing forms
- State new hire and employer registration forms
Time Tracking with Time Tracker or eBillity
- Save time by allowing your employees to track their own hours
- Reduce costly errors by automatically calculating total hours worked (including overtime)
- Fully integrated with payroll so you never have to calculate or re-enter hours
- Financial and payroll reports
- Instant drill-down access to report details
- Batch printing
- One-click export to Microsoft® Excel
External Accounting Integration
- NestEggg can support and Integrate with QuickBooks®, QuickBooks for Mac, QuickBooks Online Edition, Quicken and Peachtree®
- Export class information into accounting software
Cannabis Accounting & Finance Management for Tax Purposes
Cannabis businesses are no different; because of Federal Law even more detailed records are necessary; whether you are growing, buying or selling.
Building financial accounts for your cannabis business can be puzzling, especially with the limitations of Internal Revenue Code 280E. NestEggg’s Cannabis Compliant Accounting & Tax ensures that financial records aren’t too complex to understand, yet remain compliant for federal and State tax purposes, while also providing pertinent and useful financial data.
- Misunderstanding 1: Marijuana dispensaries are not federally approved, so they are not subject to income taxes; Although not federally approved, medical marijuana dispensaries are not eligible for IRS tax exemption. For this reason, they are subject to income tax filing and payment. It is safe to assume that all business income will be subject to taxation, unless stated otherwise.
- Misunderstanding 2: Marijuana businesses are filled under 501(c) nonprofit tax code; This is not your standard non-profit business, this is medical marijuana, illegal under federal law.
- Misunderstanding 3: I can claim business expenses like rent, bills and salaries for running my marijuana business; Under the Tax Code, expenses connected with the illegal sale of drugs are disallowed. Since marijuana is illegal under federal law, you cannot claim expenses, however regulations under 280E allows certain Cost of Goods Sold to be expensed.
A common problem with any business is setting up too many different accounts when establishing accounting records. The easiest observation is to think about it in a “simplistic” way. Accounts are either Income or Expense, start simple and add more accounts as your business evolves, all depending on your businesses structure.
Making the right decisions are essential. Know who you hire (background checks help with this) and what type software will be used to keep your business records and how much experience they have with that software. Some states require traceability software. Make sure this software can either integrate with or can support your accounting and P.O.S (point of sale) systems. Know how the Point of Sale tracks what you have sold (down to the individual product) and how it will report to your businesses general accounting method.
Some suggested initial accounts to be set up are, Starts (clones, seeds, plant tissue), Edibles, Concentrates, and Paraphernalia to remain compliant. If you produce ( or grow) separate the expense accounts for your C.O.G.S (Cost of Goods Sold . This represents anything relating to the growing of your product [soil, nutrients, electricity, payroll, etc.]). If you sell, the same applies to most anything to do with the selling of your product and both help with complying with IRS code 280E.
Staying compliant with IRS regulations is crucial, and to do so, maintain detailed financial records.
With all accounts created, endorse a system to keep an electronic or paper copy of every receipt (not common now a days with technology, but with the Federal regulations it is highly recommended) for any purchase/expense made. Within your system, compose descriptions of the expenses when recording the expense. Maintaining this procedure not only provides a more detailed analysis of your business but will make the process of following stringent governmental regulations even easier. Staying compliant with IRS regulations is crucial and to do so, maintain detailed financial records. The same data that is needed by the IRS can also be utilized by you to improve your overall profitability. With all businesses, records help the business owner to forecast and determine profitability.
One of the most important measures to consider when splitting any cost, is to understand deductible vs. non-deductible expenses/categories; document your practice for determining the split. It is crucial that you can validate to the IRS your allocations, if ever audited. Create processes and standards for allocating expenses and follow them. Keep a file that documents how you treat each expense category. Not only will this keep you compliant on your federal tax return, it will also create accounting standards to be used by all employees within your business.
280E Compliant Accounts
Because of 280E, you may find that adding/modifying accounts that would not be present in a typical business to be an ever changing requirement of your business. After forming your “basic” expense accounts, review your (C.O.A) chart of accounts. Those accounts should be easily understood and able to go into one of two categories: Cost to Produce/Acquire your product or Cost to Sell your Product. If you’re a grower, costs related to acquiring or creating your product, will likely be an allowable deduction on your federal tax return. If it is a cost related to selling your product, it will likely not be allowed as a deduction on your federal tax return, unless you are a reseller (retail or dispensary).
Following these simple rules will allow any business owner a quick glance of what deductions will be allowed on your federal return and what your (projected) taxable income will be and keep you in compliance.
At The NestEggg Group, Inc. we can assist with the developing and implementation of such processes so that you can be complaint with IRS. We also can maintain your accounts so that you can have peace of mind knowing you are 100% compliant.