Bookkeeping & Accounting of Florida Inc. Bookkeeping and Accounting of Florida Inc. Tue, 13 Nov 2018 16:19:53 +0000 en-US hourly 1 Health Industry Accounting Tue, 13 Nov 2018 16:17:25 +0000 Our firm is located in Jacksonville, Florida and we work with many medical practices to help them with their accounting, valuations and forensic accounting needs. We serve physicians all over Florida and throughout the United States. Keeping up with accurate accounting records for your business is important not just for tax purposes. Understanding your finances is important management tool for your daily decision making and planning. Not understanding and or not keeping up with your financial data will lead your business to significant loss of income, employee theft, missing deadlines for important agreements and penalties due to late document filings with the State and Federal Government.

One of our biggest strengths is our knowledge of the industry and also keeping close relationship with you so we can assist you with many day to day activities such as:

  • Preparation of accurate monthly financial statements to make sure you know profitability margins of your business each month.
  • Financial Analysis including costing, month to month and year to year comparisons, review of your financial performance against budget and if available industry benchmark.
  • Identifying suspicious activity in spending and reporting on misuse of financial and capital assets by your employees or partners.
  • Identifying and confirming that your business is in compliance with applicable accounting and regulatory standards.
  • We offer review of your vital agreements such as partnership, rental, purchasing from major suppliers, buy-out proposals and agreements with Medical Associations and / or Hospitals.
  • Tax planning and forecasting become critical this year. New 2018 Tax Cuts & Jobs Act (TCJA) might have a significant effect on your business and personal taxes this year.
  • Business valuations and forensic accounting

There are many changes happening in medical field. We are always learning new laws and regulations as they became available in the order to help our clients to stay one step ahead and allow you to plan for those changes.


Annual fee schedule update for the next 3 years will not change. Adjustment will still be +.5% for the years 2019, 2020 and 2021


MIPS Maximum Positive Payment Adjustment

2019- 4%

2020- 5%

2021- 7%

Maximum Negative Payment Adjustment

2019- (4%)

2020- (5%)

2021- (7%)

MIPS Performance Category Weights


2019- 60%

2020- 50%

2021- 30%


2019- 0%

2020- 10%

2021- 30%

Improvement Activities

2019- 15%

2020- 15%

2021- 15%




Improving Interoperability

2019- 25%

2020- 25%

2021- 25%

Bonus Quality Payments

2019- 5%

2020- 5%

2021- 5%

Shared Savings Arrangements

Shared savings arrangements incentivizes providers to reduce healthcare spending for defined patient population by offering a percentage of net savings realized as a result of their efforts

Episodic Payments are single payments for all the services needed by a patient for the entire episode of care (example heart attack). Episodic payment system reduces incentive to overuse unnecessary services within a single episode and gives providers the flexibility to decide what medical care is necessary rather than being constrained by fee codes. Not every type of condition can be or should be treated on episode bases.

Because of the advancement of value based reimbursements (VBR), most recently through MACRA where reimbursement models rely on incentives to providers to achieve better outcomes at lower costs, hospitals are trying to seek closer relationship with Physicians. This trend has been going on for several years as hospitals been acquiring practices, directly employing physicians and creating joint ventures with physician groups.

Because of this integration there has been increased federal and state regulations and more vigorous oversight regarding the legal permissibility of the arrangements. More intense regulatory scrutiny has been given under AKS, Stark Law and False Claims Act. Any safe harbors in Stark law and AKS require that any consideration paid to physicians not exceed the range of FMV and be deemed commercially reasonable.

Government regulators like OIG, and the DOJ have challenged vertical integration transactions under various federal and state fraud and abuse laws. They base their argument on concept of Practice Loss Postulate that the acquisition of physician practice which then operates at a book financial loss is dispositive evidence of the hospitals payment of consideration based on the volume and/or value of referrals. Under PLP a “book financial loss” on a physician practice borne by a vertically integrated health system, when viewed as stand-alone economic enterprise is shown as legally impermissible referrals under the Stark Law. This regulatory conjecture hinders the ability of a vertically integrated health system to withstand fraud and abuse scrutiny, and erects a barrier to satisfying the threshold of commercial reasonableness.

We understand the changes are difficult to navigate and new regulations and reimbursement arrangements make it difficult to focus on the care of the patient. Our firm can help you stay on top of the new laws as well as financial implications of the regulations. Act now to make sure your business receives all support necessary for profitability and growth.

CPA Jacksonville, Fl Thu, 07 Dec 2017 04:22:22 +0000 6 common client financial mistakes
Your clients make mistakes. Here’s how you can help.

By Cheryl Meyer
November 6, 2017

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Clients can face various financial and business predicaments: overextension, employee problems, customer losses, and even bankruptcy. They also may lack proper management training, and may procrastinate or overreact when problems surface. Then they call their CPAs in a panic. Unfortunately, clients may see their fortunes dwindle if they do not take a more proactive approach to managing their personal or business finances.

We tapped five CPAs to identify the top blunders they see clients make, and offer ways to prevent these problems from surfacing. Here is their list:

Miscalculating startup costs or personal funds. It’s all too easy for gung-ho entrepreneurs to spend money before they have it. They buy equipment and supplies, renovate, and pay employees. “All that cash goes out the door before they have their first sale,” said James Bourke, CPA/CITP/CFF, CGMA, a partner at WithumSmith+Brown in Red Bank, N.J. “They underestimate the capital needs and cash flow to get the business off the ground.” Individual clients, too, can overextend themselves by racking up debt on credit cards or spending more than they earn. Clients often approach his firm after they have burned through cash and are in trouble, largely because they failed to forecast.

CPAs can help prevent this problem by collaborating with clients and reviewing their cash flow needs early in the game. “If you are a trusted adviser, they will consult with you about every single thing they are doing. You will be putting your client in a position to be successful,” Bourke said.

Failing to plan and project. “A majority of my small business clients operate somewhat by the seat of their pants,” causing things to spiral out of control and create emergencies, said Robert Cameron, CPA, member at Hughes, Cameron & Company in Springfield, Ill. Even entrepreneurs who pay close attention to their books aren’t always prepared to analyze their business. Cameron meets with clients quarterly to set them up with an annual budget and “teach them some basic management skills,” he said.

Clients also could avoid many difficulties if they strategize and project. “The most common mistake we see with clients is lack of planning,” added Don Murphy, CPA, CGMA, managing member of Barfield, Murphy, Shank & Smith in Birmingham, Ala.

For example, clients often do not set five- or 10-year targets, but rather focus on today. “If they were to step back and say, ‘Here are my goals, and what’s my road map to get there?’ they could shield themselves from some of these financial pains and mistakes,” said Kevin Kruggel, CPA, CGMA, partner at Kruggel Lawton CPAs in South Bend, Ind. Clients don’t always have a capital budget to improve their business and don’t anticipate necessary changes in their business model or customer base, resulting in bankruptcy or liquidation. “As a CPA, the biggest thing we can point out is that you have to spend time working on your business—not just working in your business,” he added.

Buying unnecessarily. Cameron calls this blunder, “Letting the tax tail wag the dog.” Clients often rush to make business purchases at the end of the year to help alleviate their tax bill, which is a serious misstep. “If you need that piece of equipment, great. But if you don’t need that piece of equipment, tax is only a percentage of the game,” he said. He explains this point to clients, and they usually understand quickly, so that’s an easy fix. “They may never have been exposed to that idea,” he said. “The real cost of buying something is not in the dollars you laid out that day—it’s what you can’t buy because you spent that money already.”

Failing to analyze all revenue streams. Companies often have multiple business lines, and some do better than others. But if there’s an economic downturn, problems can arise. With the help of their CPAs, clients need to dive deep into their operations and review their revenue streams to see which business lines are profitable. “Clients need to jump on these things early,” Bourke said. “The CPA has to be the client’s advocate … and keep in constant communication through the entire year.”

Ignoring the human element in mergers and acquisitions. Sal Inserra, CPA, managing partner for the Atlanta office of Crowe Horwath, works with corporate clients who have unknowingly disregarded one of the most important aspects of M&A: people. Instead, they concentrate on the monetary details of the transaction. Board members often don’t mesh, and things fall apart since expectations were never outlined, inevitably hurting the bottom line. “Those [mergers] have created the biggest financial blunders that I’ve had to deal with in my career,” Inserra said. “There can be political problems inside, so all of the goals to streamline the organization didn’t bear fruit, and as a result it becomes very costly.”

CPAs involved in M&A should market their advisory service roles to help address a potential crisis before it starts, he said. “This is something beyond the debits and credits—it is the history of seeing things that have failed and succeeded. What a seasoned CPA brings to the table is the experience of transactions.”

Delaying a succession plan. Business owners close to retirement may also wait too long to create a company succession plan. “You can’t decide in six months you’re ready to sell your company,” Murphy said. CPAs should discuss this with clients upfront so they are prepared. “We tell our clients if they can give us five years advance warning, we do a much better job than if they give us a year,” he noted.

Cheryl Meyer is a California-based freelance writer. To comment on this story, contact Chris Baysden, senior manager of newsletters at the Association of International Certified Professional Accountants.

CPA Services for Medical Practice and Physicians Thu, 25 Aug 2016 21:30:10 +0000 CPA Services for Medical Practices and Physicians

Medical practices and physicians are under-served industry to a certain extend when it comes to the customized accounting services. Because of the unique needs and time constrains it is hard for physicians to keep up with financial information which in the end costs them thousands of dollars.
Our CPA firm understands the industry and the needs of medical industry and we can help to streamline the accounting process and help with tax planning. This will allow the doctors to concentrate on the patient care rather than trying to work through accounting and tax issues.
Consider how much time you and your office manager can dedicate to what you do best if you could have someone looking over your data on the monthly bases, helping you streamline and interpret your financial results
CPA firm
CPA services for medical practices
and advice you on what could be done to save you time and money at the year end.
Give us a call and see how we can assist your practice and help you with individual tax planning.

bookkeeping services jacksonville Mon, 29 Dec 2014 02:34:03 +0000 bookkeeping services jacksonville
bookkeeping services jacksonville

If you are in business you need highest quality bookkeeping services Jacksonville. As a business owner, you are always per-occupied with things that need to be done. You are expected to wear several different heats in the matter of minutes. You have to deal with marketing, employees, customers and many administrative tasks. The most important thing you should do is concentrate on growing your business. Let us take care of your bookkeeping services Jacksonville. We can make the process easy and painless and make sure you are prepared for any unpredictable things, including IRS audit. We make sure all your records are in order and all your transactions are recorded accurately and timely. We also make sure that any required paperwork is filed with IRS and Florida Department of Revenue. We even make sure you renew your corporation on time and stop throwing away the money on penalties and interest. You will have full access to your accounting data which will help you budget, plan for future events and insure you are aware where your business is month to month. Knowing your financial situation is the greatest tool that the business owner can have and it could be effortless and easy. We use QuickBooks software which will help you get customized reports and if you are in construction business, it can even help you with job costing and estimates. Bookkeeping services Jacksonville will make your life less stressful and we will make sure you are always in compliance. Allow us to help you with your bookkeeping and accounting needs. Call us for a free consultation today at 904-333-1041

Tax services Jacksonville fl Tue, 23 Dec 2014 21:22:11 +0000 When you are looking for Tax services Jacksonville Fl
Tax planning is not the same as tax evasion. There are many IRS regulations that allow you to plan to minimize your tax burden. Our company provides tax services Jacksonville Fl to help you save money and time. We organize your accounting records, keep all necessary back up and make sure that you are prepared in case the IRS even knocks on your door. Accounting for your business should not be painful. We try to help you make sense out of your accounting and develop understanding of your tax situation. All your records will be kept in accounting system where you can get to your information and will work with you as a team to make sure your taxes are filed timely and you stay ahead of all the new regulations. We are here to help our clients to make sense of their taxes and accounting.

Independent Audits: A Jacksonville service you can count on Sun, 14 Dec 2014 19:56:41 +0000 Independent Audits

We do internal and independent audits so that you can rest assured that your bookkeepers or internal accountants are doing there job properly.  To many times the accounting has gone unchecked within a large company to find out that money was be embezzled or that the books weren’t getting done properly.  We want to be the system of checks and balances that use to insure that everything is ok with your tax financials.  Our independent audits are guaranteed to pass the strict standards of any company. The IRS is a tough entity of the government and they come down hard on people not following the rules.  Even if these are honest mistakes the government tends to show no grace.  The IRS is a small group compared the general population so they tend to make an example of anyone they find doing things the wrong way.  If you are looking for a company to do your independent audits then contact us to get your free consutlation.

independent audits

We do the independent audits to give you the peace of mind that everything is getting done properly within your company.  Our easy to read tax financials will give you a great idea of how profitable your business is as well.  We may even be able to help you with an other issues you may be having within your business. I think you will find our independent audits at a reasonable price point as well. The money we save people and the time is more valuable then the price we charge. We feel our service is one of the best services in the Jacksonville Florida area.  We hope to grow a large business one day with your help.  Our clients are great at giving us referrals as we do great quality work for the. Contact us today to schedule your free consultation and we will look forward to serving you then.

For payroll and accounting services contact us now! Sun, 14 Dec 2014 19:31:26 +0000 Payroll and Accounting Services 

When you are searching for payroll and accounting services  in Jacksonville make sure you come over and check out our service.  We want to serve a large audience in our area and we plan on doubling our business within 2 years.  We do offer a free initial consultation so we can find out if we would be a good fit for you. The first thing we need to know is what type of service are you in need of.  We can offer you are full package or do an a la carte and you can pick and choose which services you would like to use.  Our payroll and accounting services  are guaranteed to save you time and money.  How do we claim such a thing when it costs money to use our service?  When you are able to start spending your valuable time on the things that matter most then we think you will end up making more money for your business.

payroll and accounting service

Have you ever heard of the pareto principle? It is known as the pareto principle is also known as the 80/20 principle.  Our payroll and accounting services will help you find the top 20% of things you could do to focus on growth opportunities.  We can help you identify the top 20% of activities if you need us to so you can work on them instead of doing your own accounting services. We consider accounting as more of a maintainance activity.  This does not help your business grow it helps your  maintain your business  Don’t get me wrong this has to be done but don’t do your own payroll and accounting services  instead hire a professional.  Contact us today and schedule your free no hassle estimate and we will look forward to serving you soon.  Our office is open monday through friday.

We want to be your accounting and bookkeeping service! Sun, 14 Dec 2014 19:03:47 +0000 Accounting and Bookkeeping Service

Our company had humble beginnings before we did accounting and bookkeeping service.  

bookkeeping help

Juliya Moody started to learn bookkeeping as working for an electrical contractor. The company she was working for and decided to throw her head first into quickbooks.  To be honest she was overwhelmed with the task and wondered why they didn’t hire a professional accounting and bookkeeping serviceShe had some hard days as she learned the program and that is when she decided to get some quickbooks training.  This move changed the course of here life. She since then has kept her education going strong and is almost finished with her CPA.  Juliya is passionate about her accounting and bookkeeping serviceShe worked by herself for a few years but the demands became to much.  Back then she was working out of her home.  When she got so busy she couldn’t handle it she decided to hire another guy named Leo she knew from another accounting firm.  Then she decided it was getting to hard to do business out of her house so she decided to start looking into finding a office.  With her accounting and bookkeeping service she wasn’t sure what side of town she should get an office in.  She decided to be locate off St. Augustine so she could be close to her clients but be close to her home also. We sure hope you come by bookkeeping and accounting of florida and claim your initial free consultation.  We can set you up with a business plan and get you started right away if you are ready to do that.  Stop by and talk to our knowlegeable and friendly staff and see why we are becomin one of the most trusted accountants in our area.  Contact us today and we will look forward to serving you soon!

When you need a business bookkeeping service contact us! Sun, 14 Dec 2014 18:43:27 +0000 Business Bookkeeping Service

We are bookkeeping and accounting of florida.  We are a full service business bookkeeping service and we are ready to serve. We look forward to growing our business. We sure hope you become a big part of our success as we grow.  We are determined to keep the small company feel as we grow our services.  This is called customer intimacy and this is normally categorized by a very small business. As we grow we realize that we cannot still consider ourselves a small business.  We serve over 60 clients with our business bookkeeping service and we are proud to say so.  Our service is a specialized to fit your needs.  The only thing we know is that the only thing that is consistent is that we are always saving our clients time and money.

Business bookkeeping service

Our service is top rate by our clients.  They say our business bookkeeping service is like no other service they have dealt with in accounting.  We are passionate about doing taxes and it shows. It can be hard to find a tax professional like us.  Most services are likely to not live up to the hype of what they claim but not our company.  We live to be the type of company that does the most good in our field in the Jacksonville FL area. If you are looking for a business bookkeeping service like ours then contact us today.  Our initial consultation is to see if we would be a good fir for you.  Our services are catered to meet your required needs and we are proud to say that we do not treat everyone the same. Contact us today to request this free consultation.  Just give us a call or drop us an email and we will set up a time for you to come to our office. Thanks again for stopping by…

Book-Keeping: Hand it off to a professional bookkeeper Sun, 14 Dec 2014 17:50:59 +0000 Book-Keeping

We do think we offer one of the book-keeping services in our area.

Keeping the finances well organized and maintaining good cash flow are central to any business’s success. An accounting professional can help with all financial matters, from ensuring you have effective accounting procedures in place to making sure you’re paying the right amount of tax.  Not only that, they can also offer sound business advice to help you succeed. It’s important to find the accounting help that’s right for your business so you can build a long-term working relationship and so they can really get to know you, your business and what you’re trying to achieve. Look at these tips to find a good book-keeping service:

Rather than searching aimlessly among a sea of accountants, it will help you to understand what help you need. Narrow it down:

  • Do you need someone to process your invoices and receipts?
  • Would you like an accountant to prepare your tax return?
  • Will the accountant be running payroll for you?
  • Do you require an expert who can create budgets, forecasts and reports?
  • book-keeping

These are some helpful tips so you can find the right book-keeping service.  Interview at least three accountant firms before you choose one. Make sure you have a list of things and questions that you may have for any prospective accountant. In this initial consultation you can find out if you think you and this person would work together well.  We offer a free consultation so you can decide if we can be a good fit for you.  Come check out our book-keeping services risk free for three months.  This will give you a feel for how we operate and we know by the end of this three months you will know that we are a top rated service.  Contact us today for a free estimate and we will look forward serving you soo.