Question 1

Who is Fiscal Integrity Group and where are you located?

Accepted Answer

Fiscal Integrity Group is a bookkeeping, tax, payroll, and CFO advisory firm based at 11400 West Olympic Blvd, Ste 200, Los Angeles, CA 90064. We work with small and mid-size businesses across Los Angeles and Southern California, handling most work through a secure client portal.

Question 2

Why should I choose Fiscal Integrity Group for my business?

Accepted Answer

Most firms either do your taxes once a year or do your bookkeeping and stop there. We do both, plus payroll and ongoing CFO-level advisory, so the same team that closes your books each month is the one planning your tax strategy and helping you read your numbers. That means fewer handoffs, fewer surprises at tax time, and one point of contact instead of three vendors who don't talk to each other.

Question 3

Do you only work with businesses, or do you help individuals too?

Accepted Answer

We work with both. Most of our ongoing bookkeeping, payroll, and CFO work is with small businesses, but we also prepare individual tax returns, including for business owners who want their personal and business taxes handled by the same team.

Question 4

What does FIG stand for?

Accepted Answer

FIG stands for Fiscal Integrity Group. The name reflects our approach: numbers you can trust, from bookkeeping through tax strategy.

Question 5

Do you only serve businesses in Los Angeles?

Accepted Answer

No. While our office is in Los Angeles, we serve small businesses across Southern California, including San Diego, Orange County, the Inland Empire, and Ventura County. All bookkeeping, payroll, and advisory work is handled through a secure client portal, so location isn't a barrier.

Question 6

Who are your services built for?

Accepted Answer

Our services are built for small and growing businesses, generally between one and fifty employees, that need real bookkeeping and tax support but don't need a full-time finance department. That includes everything from single-location shops to multi-location operations with more complex payroll.

Question 7

What role does FIG play in my business?

Accepted Answer

Think of us as your outsourced finance department. We keep your books current, run your payroll, prepare and plan your taxes, and act as a fractional CFO when you need help reading the numbers or planning for growth, all without you having to hire and manage an in-house team.

Question 8

Can I keep working with you if I move out of state?

Accepted Answer

Yes. Since we handle bookkeeping, payroll, and tax work through our secure client portal, your physical location does not affect the relationship. Several clients have kept working with us for years after relocating out of California — we simply adjust your state filings to cover wherever you and your business are now based.

Question 9

Do you work with businesses of any size, or only high-income clients?

Accepted Answer

We work with businesses of all sizes, not just high earners. Whether you are a solo operator just starting out or a multi-location company with dozens of employees, we tailor the level of service to what you actually need. Unlike firms that gatekeep tax planning for high-income clients only, we believe accurate bookkeeping and proactive tax strategy should be available to any business that wants clean numbers and a real plan, not just those above a certain income threshold.

Question 10

Does 1-on-1 mean you meet me in person?

Accepted Answer

1-on-1 means a dedicated point of contact and steady, ongoing communication. We stay in touch by phone, email, our secure client portal and scheduled calls, not in-person meetings.

Question 11

What is included in your bookkeeping services?

Accepted Answer

Our bookkeeping includes monthly transaction categorization, bank and credit card reconciliation, accounts payable and receivable tracking, and monthly financial statements: profit and loss, balance sheet, and cash flow. For businesses further behind, we also do one-time cleanup and catch-up bookkeeping to get your books current before we take over ongoing work.

Question 12

How do you handle scattered or messy financial records?

Accepted Answer

We start with a full review of your existing records, whatever state they're in, and rebuild your books from your bank and credit card statements where information is missing or incorrect. Most cleanup projects take two to six weeks depending on how far behind the books are and how many accounts are involved.

Question 13

How can you help me organize my finances?

Accepted Answer

We set up a chart of accounts specific to your business, connect your bank and credit card feeds, and put a monthly close process in place so your numbers are accurate and current every month, not just at tax time.

Question 14

Are your reports easy to understand?

Accepted Answer

Yes. We send monthly reports in plain language, not just raw financial statements, and walk through them with you if numbers ever look off, so you always know what your profit and loss and cash position actually mean for your business.

Question 15

What accounting software do you use?

Accepted Answer

We primarily work in QuickBooks Online, and we can also support Xero for clients who are already set up on it. If you're not currently using accounting software, we'll help you get set up as part of onboarding.

Question 16

How much does bookkeeping cost?

Accepted Answer

Bookkeeping pricing depends on your transaction volume, number of accounts, and whether you need payroll or catch-up work included. Most small business bookkeeping engagements start in the low hundreds of dollars per month. We'll give you an exact quote after a free consultation.

Question 17

Do you offer catch-up or cleanup bookkeeping if I'm behind?

Accepted Answer

Yes, this is one of our most common engagements. Whether you're a few months behind or a few years behind, we can reconstruct your books from bank and credit card records so you have accurate, tax-ready financials before we move you onto ongoing monthly bookkeeping.

Question 18

Do you handle cash-based or accrual-based accounting?

Accepted Answer

We work in both cash and accrual accounting and will recommend the method that fits your business and tax situation, then keep your books consistent in that method going forward.

Question 19

How often will I receive financial statements?

Accepted Answer

Most clients receive updated financial statements monthly, typically within the first two weeks of the following month, though we can adjust frequency for businesses that need more frequent visibility into cash flow.

Question 20

Do you reconcile my bank and credit card accounts every month?

Accepted Answer

Yes. Monthly reconciliation of every connected bank and credit card account is a standard part of our bookkeeping service, so your books match your actual account balances rather than drifting out of sync over time.

Question 21

Can you fix errors left behind by a previous bookkeeper?

Accepted Answer

Yes. This is a common reason clients come to us. We review the prior books, identify miscategorized transactions or reconciliation errors, and correct them before starting ongoing monthly bookkeeping.

Question 22

Do you track accounts receivable and send invoice reminders?

Accepted Answer

We track outstanding accounts receivable as part of your monthly reporting so you always know what's owed to you. Invoicing and collections can be handled directly through your accounting software, which we help set up and monitor.

Question 23

What is a chart of accounts and do I need a custom one?

Accepted Answer

A chart of accounts is the list of categories your income and expenses are organized into, like rent, payroll, or software costs. We build a chart of accounts specific to your industry and business rather than using a generic template, since accurate categorization drives everything else in your financials.

Question 24

How do you handle inventory for retail or product-based businesses?

Accepted Answer

We track inventory through your accounting software or a connected inventory system, recording cost of goods sold and inventory value accurately so your profit and loss reflects true margins rather than treating inventory purchases as an immediate expense.

Question 25

Can you help me understand my profit and loss statement?

Accepted Answer

Yes. We walk through your profit and loss statement in plain language as part of your monthly reporting, explaining what's driving changes in revenue, expenses, and margin rather than just handing you a document.

Question 26

What is the difference between a bookkeeper and an accountant?

Accepted Answer

A bookkeeper records and organizes day-to-day financial transactions, reconciliations, and monthly statements. An accountant typically works at a higher level, handling tax strategy, financial analysis, and compliance. We provide both under one roof so nothing falls through the cracks between the two.

Question 27

Do you handle bookkeeping for businesses with multiple locations?

Accepted Answer

Yes. We regularly work with multi-location businesses, tracking revenue and expenses by location so you can see which locations are actually profitable, not just a combined total.

Question 28

How far behind can my books be before it's too late to fix?

Accepted Answer

There's rarely a point where it's too late. We've reconstructed books that were several years behind using bank and credit card statements, tax returns, and available records. The longer books go unreconciled, the more time cleanup takes, which is the main reason to address it sooner rather than later.

Question 29

Will you work with my existing accounting software, or do I have to switch?

Accepted Answer

In most cases we can work within your existing QuickBooks Online or Xero setup. If your current software is not well suited to your business or is being discontinued, we'll walk you through migrating to a better fit.

Question 30

Do you provide year-end financial statements for tax filing?

Accepted Answer

Yes. Year-end financial statements are prepared as part of ongoing bookkeeping and are used directly by our tax team to prepare your return, so there is no separate handoff or delay between bookkeeping and tax season.

Question 31

What happens if my books aren't caught up by December 31?

Accepted Answer

Your books don't need to be perfect by year-end, but the more current they are, the faster and cheaper your tax filing will be. Major year-end decisions — like equipment purchases, bonus payments, or retirement contributions — can't be evaluated accurately without current numbers, so we recommend staying on a monthly close. If you're behind heading into December, our catch-up bookkeeping can usually get you current in time to make smart year-end moves.

Question 32

When should tax planning happen?

Accepted Answer

Tax planning works best when it happens throughout the year, not just in the weeks before filing. We typically review strategy at least quarterly so decisions like entity structure, retirement contributions, or equipment purchases can actually be acted on before year end, rather than discovered too late on your return.

Question 33

What is the difference between tax planning and tax preparation?

Accepted Answer

Tax preparation is filing an accurate return based on what already happened. Tax planning is deciding, ahead of time, how to structure your income, expenses, and entity to legally reduce what you owe. We do both, but the planning side is where most of the savings actually happen.

Question 34

Should my business be an LLC, S-Corp, or sole proprietorship?

Accepted Answer

It depends on your income level, how many owners you have, and your plans for growth. As a general rule, S-Corp election starts to make financial sense once a business is consistently netting more than roughly sixty to eighty thousand dollars a year, since it can reduce self-employment tax, but the right structure depends on your specific numbers, which we review as part of tax planning.

Question 35

Can you help if I owe back taxes or received an IRS notice?

Accepted Answer

Yes. Our IRS resolution work covers everything from responding to a notice like a CP2000 to negotiating a payment plan or offer in compromise on back taxes. We review your specific situation, pull your records, and handle the response so you're not navigating the IRS on your own.

Question 36

How much can tax planning actually save my business?

Accepted Answer

It depends heavily on your income, structure, and industry, but proactive planning commonly saves small business clients thousands of dollars a year through entity structuring, retirement plan contributions, and properly timed deductions that get missed when tax prep only happens once a year.

Question 37

Do you handle multi-state or California-specific tax issues?

Accepted Answer

Yes. We regularly handle California-specific issues like the annual LLC franchise tax, sales tax registration, and multi-state filings for clients who have employees or customers outside California.

Question 38

What is the difference between a tax deduction and a tax credit?

Accepted Answer

A deduction reduces the amount of income that is taxed, while a credit reduces your actual tax bill dollar for dollar. A tax credit is generally more valuable than a deduction of the same dollar amount because of that direct reduction.

Question 39

What business expenses are tax deductible?

Accepted Answer

Ordinary and necessary business expenses are generally deductible, including rent, payroll, software, marketing, business insurance, and a portion of vehicle and home office costs when they meet IRS requirements. What qualifies depends on your specific business and how the expense is documented.

Question 40

Can I deduct my home office if I work from home?

Accepted Answer

Yes, if you use a specific area of your home regularly and exclusively for business, you can generally deduct a portion of your home expenses based on the square footage used for business, using either a simplified or actual expense method.

Question 41

What retirement plan options can lower my business taxes?

Accepted Answer

SEP IRAs, Solo 401(k)s, and traditional 401(k)s for businesses with employees can all reduce taxable income through pre-tax contributions, while also building retirement savings. Which option makes sense depends on your income, whether you have employees, and how much you want to contribute.

Question 42

When are quarterly estimated taxes due?

Accepted Answer

Federal quarterly estimated taxes are generally due in mid-April, mid-June, mid-September, and mid-January of the following year. California has its own estimated payment schedule that does not exactly mirror the federal dates, which is a common source of missed payments.

Question 43

What happens if I don't pay estimated taxes throughout the year?

Accepted Answer

If you don't pay enough tax throughout the year through withholding or estimated payments, the IRS and California can both charge an underpayment penalty, even if you pay your full balance by the filing deadline.

Question 44

Do you prepare both business and personal tax returns?

Accepted Answer

Yes. We prepare business returns for LLCs, S-Corps, C-Corps, and partnerships, along with the personal returns of business owners, so your business and personal tax situations are handled together rather than by separate preparers who don't coordinate.

Question 45

What documents do I need to provide for tax preparation?

Accepted Answer

Generally we need your prior year return, year-end financial statements, any 1099s or W-2s received, and documentation for major deductions like home office or vehicle use. If we also handle your bookkeeping, most of this is already on hand.

Question 46

How do you handle tax planning for a business with seasonal income?

Accepted Answer

For seasonal businesses, we plan estimated tax payments and cash reserves around your actual income timing rather than assuming even income throughout the year, so you're not caught short during slow months or overpaying during peak season.

Question 47

Can you help reduce taxes on the sale of my business?

Accepted Answer

Yes. Structuring the sale of a business, whether as an asset sale or a stock sale, and timing it correctly can significantly affect the tax outcome. We work with clients ahead of a planned sale to structure it as efficiently as possible.

Question 48

Do you offer tax planning for equity compensation or stock options?

Accepted Answer

Yes. Stock options and equity compensation carry specific tax timing decisions, particularly around exercise timing and qualifying dispositions, that can significantly change your tax outcome if planned in advance rather than reacted to after the fact.

Question 49

What is the qualified business income deduction and do I qualify?

Accepted Answer

The qualified business income deduction allows many owners of pass-through businesses, including LLCs, S-Corps, and partnerships, to deduct up to twenty percent of their qualified business income, subject to income limits and rules that vary by industry. We determine your eligibility as part of tax planning.

Question 50

Can you help if I haven't filed tax returns in several years?

Accepted Answer

Yes. We help clients get caught up on unfiled returns, which typically involves reconstructing missing financial records, filing the outstanding returns, and addressing any resulting balance due with the IRS or state.

Question 51

Do you handle sales tax registration and filing in California?

Accepted Answer

Yes. We help businesses determine whether they need to collect California sales tax, register with the state, and file the required returns on schedule.

Question 52

What is a 1031 exchange and how does it affect my taxes?

Accepted Answer

A 1031 exchange lets you defer capital gains tax when you sell an investment property and reinvest the proceeds into another qualifying property, as long as you follow the IRS's timing and identification rules. It is one of the most powerful tools for real estate investors to keep compounding a portfolio without a tax hit at each sale. We help coordinate the exchange timeline with your broader tax planning so your basis and depreciation stay accurate.

Question 53

I'm new to the US — how do I catch up on tax filings I missed?

Accepted Answer

If you are new to the US and behind on filings, we can help you get caught up and compliant. That typically means determining your residency status for tax purposes, reconstructing your income and any documents you have, and filing the outstanding federal and California returns. The IRS has specific procedures for newcomers and late filers, and addressing it proactively is almost always better than waiting for a notice. Our IRS resolution team can guide you through the process.

Question 54

What happens to my late parent's or family member's taxes and trust filings?

Accepted Answer

When a family member passes away, their estate and any trusts they held may have their own filing obligations, separate from a final personal return. As a trustee or executor, you may need to file the decedent's final individual return, a fiduciary Form 1041 for the estate or trust, and Schedule K-1s for each beneficiary. Our trust and estate tax preparation service handles these filings and explains each step so you are not navigating it alone during an already difficult time.

Question 55

What's a casualty loss deduction, and do I qualify?

Accepted Answer

A casualty loss deduction applies when your property is damaged or destroyed by a sudden, unexpected event like a fire, flood, or earthquake. For individuals, casualty losses are generally deductible only if they occur in a federally declared disaster area, while businesses have broader rules for qualifying losses. Whether you qualify depends on the nature of the event, your insurance reimbursement, and how the loss is documented. We review your specific situation as part of your tax planning.

Question 56

What's the deadline to buy equipment and still deduct it this year?

Accepted Answer

To deduct equipment under Section 179 or bonus depreciation for the current tax year, the equipment generally must be purchased and placed in service by December 31, not just ordered. Financing is fine as long as you take possession and put it to use before year-end. The Section 179 limit and bonus depreciation percentage change annually, so we review your specific purchase and timing as part of your tax planning.

Question 57

When is my Q4 estimated tax payment due?

Accepted Answer

Your Q4 federal estimated tax payment is generally due January 15 of the following year, though California's final estimated payment deadline can differ. If you file your return early and pay the full balance by the end of January, you can sometimes skip the January payment. We confirm the exact dates for your situation as part of tax planning.

Question 58

How much can I contribute to a retirement plan before year-end to lower my taxes?

Accepted Answer

It depends on the plan. SEP IRAs and Solo 401(k)s can generally be funded up to your tax filing deadline (including extensions), while a traditional 401(k) for employees usually needs to be established by December 31 to count for that year. Contribution limits are generous and increase annually, so we model your options as part of tax planning to maximize the deduction before year-end.

Question 59

Do I need to send 1099s to my subcontractors, and how much changed this year?

Accepted Answer

Yes, you must issue Form 1099-NEC to each unincorporated subcontractor you paid at least the threshold amount during the year. The reporting threshold was raised from six hundred dollars to two thousand dollars, meaning far fewer small contractor payments now trigger a 1099. We track your vendor payments year-round through bookkeeping and prepare and file your 1099s at year-end so nothing is missed.

Question 60

Should I prepay expenses or delay income before year-end?

Accepted Answer

For cash-basis businesses, accelerating deductible expenses into December (like insurance premiums, materials, or software subscriptions) and deferring December invoices into January can lower your current-year tax bill. The strategy only works if you have a real reason to shift income or expenses, and it needs to be coordinated with your estimated payments and overall tax planning so it doesn't backfire the following year.

Question 61

Should I use the standard mileage rate or track actual vehicle expenses?

Accepted Answer

The standard mileage rate is simpler and works well for businesses that drive a moderate amount, while tracking actual expenses (gas, maintenance, depreciation, insurance) can produce a larger deduction for heavy-use or high-cost vehicles. Once you choose actual expenses for a vehicle, you generally can't switch back to the mileage rate for that same vehicle. We compare both methods with your actual driving records as part of your tax planning so you pick the one that maximizes the deduction.

Question 62

Does when my solar installation is completed affect which year I claim the tax credit?

Accepted Answer

Yes. The federal Investment Tax Credit is generally claimed in the year the solar system is placed in service, not the year you sign the contract or begin installation. If a system is completed and energized in late December, the credit falls in that tax year; if it slips into January, it shifts to the following year. We help solar installers and their clients time installations and document the placed-in-service date correctly as part of tax planning.

Question 63

What's the difference between a year-end bonus and a subcontractor payment for tax purposes?

Accepted Answer

A bonus paid to a W-2 employee runs through payroll and is subject to payroll taxes and withholding, while a payment to a subcontractor is a 1099-reportable expense with no payroll tax. Misclassifying a bonus as a contractor payment (or vice versa) can trigger penalties and reclassification. We help you confirm the correct classification and timing of every year-end payment so both your W-2 and 1099 filings are accurate.

Question 64

What are fractional CFO services and what do they include?

Accepted Answer

A fractional CFO gives you senior-level financial guidance, cash flow forecasting, budgeting, profitability analysis, and strategic planning, without the cost of a full-time hire. Our fractional CFO work typically includes monthly or quarterly strategy sessions, financial dashboards, and direct support around decisions like pricing, hiring, or raising capital.

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