Author: Admin

Filing returns deadline 17th April 2018

Posted on 22/03/2018

Why file your tax returns ASAP?

The tax filing season has opened up to individuals. The Internal Revenue Services has shifted the deadline for tax filing to April 17, 2018. The filing deadline was extended by two days (usually, it is April 15 every year) because 15 April 2018 falls on a Sunday. The 16th is observed as Emancipation Day, a holiday in Washington D.C. Just like any other Federal holidays, Washington holidays have an impact on the deadline for filing of tax returns. Tax filers must regularly check with the IRS website for latest updates.

tax returns 2018

The IRS had announced Jan 29th as the official day of the start of tax season 2018. A projection indicates that 155 million tax returns will be filed for the financial 2017. 70% are expected to receive a refund. Though the IRS hasn’t promised a refund date, it is anticipated that more than 90% of the tax submitted will receive the refunds within 21 days. It is apparent that the sooner you file your tax returns, the sooner you are going to be refunded.

Why do we keep saying, earlier the better? Tax filing can be very time consuming if you don’t have the right documents and details for filing. Getting ready for filing is a tedious process. Gather all information on income statements and receipts for filing Form W-2 and Forms 1099. Itemized record of health insurance, job expenses records, charitable donation record and details on personal information.

  1. Support appropriate documents for every expense and income must be  by .
  2. Make certain that you procure the W-2 from your employer well in advance.

Let’s discuss the reasons why we need to get our act together to file early returns.

Larger refunds for early filers

Data provided by the IRS reveals that early bird taxpayers enjoy a larger refund amount when compared to the others who file in later. The other reason is to ensure you are eligible for the claims on all deductions.  It goes without saying that itemizing your deductions can get you larger refunds, though the documentation for the same is time-consuming.

You don’t need to cut back on your resources to rush into an early filing, rather find an expert tax returns Preparer to make the filing right on time.

Hassle-free filing of returns

Whether you file your tax returns on your own or engage a pro, fix your own deadline well ahead of the April deadline. Feel relaxed and satisfied with the thought that your taxes for the year is taken care of while everyone you know is rushing to get it done.

Refunds protected from identity thefts

The early tax filing may not ensure identity theft using your Social Security Number, but it makes certain you get refunds on time.

Early filing allows time to make payment plans

Once the tax returns for 2017 is completed, the estimated tax to be paid will be determined by the filer or his tax expert. Now, you have more time on hand to get the money ready instead of breaking into some emergency fund. So, to buy time and get it paid, you have to assess your taxes, prepare all the relevant forms and documents well before the deadline – 17 April 2018.

Easy accessibility to tax professionals

Closer to the deadline, tax filers who are procrastinators would find it difficult to get a good tax professional as they will be busy doing crunch time this season. As a matter of fact, the tax deadline is getting closer, it’s high time you fix an appointment with your  tax expert.

Added to all the issues mentioned, tax professionals may tend to charge more when there is less time for assessment. Start today! Call our tax advisor to whom you can entrust your filing for maximum tax deductions.

Topics: Taxation

Top 5 Accounting Strategies Trending in 2018

Posted on 23/02/2018

Financial gurus predict a sea change in the way accounting process is going to evolve this year, 2018. Gone are the days when bookkeeping and financial accounting were done manually. Presently, we are heading into a total transformation where automation, Outsourcing Bookkeeping, and cloud accounting are endorsed globally by the business community and corporate houses.


Top 5 Accounting Strategies Trending in 2018 - CPA bookkeeping services


While small business houses, bookkeepers, and CPA accounting firms avail the support of CPA bookkeeping services by outsourcing their work significantly, let us look at the top 5 most trending accounting methods this year.


1. Automation

Automation in accounting is a boon to small and large businesses. The automation process has slowly replaced manpower in accounting during 2017.  Manual accounting is gradually phasing out and industries are opting for automation because it saves a great amount of time and is very cost-effective. Accountants of CPA firms and bookkeepers can focus on other crucial accounting issues as the day to day accounting operation works hassle-free.

2. Cloud accounting

Cloud accounting software is user-friendly and flexible as it can be accessed from anywhere. Financial information gets updated automatically providing real-time reports, making it easier for businesses to take quick decisions on various issues. Cloud software keeps accountants and business owners well connected.


3. Social Media for accounting firms and CPAs

Business houses are using the social media platform to increase brand presence for their online business strategies. The idea is to reach out to a global audience, which has the advantage of accounting companies is increasing website traffic at very little or no cost.


4. Collaborative Accounting

The term may sound new because it involves accountants communicating with clients using the internet and state-of-the-art technology irrespective of their location. Sometimes, accounting transactions are monitored by an Accounting back office to a business house on the other side of the world. Communication with clients and business partners, coming up with solutions and strategies is simplified.


5. Outsourcing

Outsourcing financial and accounting services are gaining popularity in recent times, especially in the last couple of years. The Accounts department will have more time on hand to develop other pressing business issues that need immediate attention. In addition to that, the following advantages keep them on the popularity list.

  • Ample time to focus on core business and growth
  • Resource scalability
  • Complete support from an Expert accounting team
  • Manage realtime Financials
  • Major cut-down on cost


When we look at all the above methods of accounting it is obvious that the benefits of Accounting outsourcing for businesses and industries are numerous, irrespective of their size and domain. Outsourcing your accounting operations to expert accountants will be a great relief and ensures a smoother business model, not to forget the reduction of overheads.


Team Velan Bookkeeping offers reliable and speedy outsourced accounting services to CPA firms, bookkeepers and small businesses at a global level. Reliable accountants with expertise  are ready to take care of all your accounting needs. When you are considering outsourcing accounting, go to for the best deal!

Topics: Accounting , Accounting firms , Bookkeeping Services , CPA , Outsourcing Accounting

10 Small Business Accounting Trends to Kick-start 2018

Posted on 16/01/2018

10 Small Business Accounting Trends to Kick-start 2018

2018 is here and just like every other year, we’re mopping our brows thinking the previous year went down way too fast. But the New Year is not about moping on bygones but learning from the past and looking forward to the future! So here are 10 Small Business Accounting Trends for the year 2018.

Small Business Accounting

For all small businesses who’re looking to make bookkeeping and accounting a lot easier this year, your first thought should be to approach a reliable outsourcing partner. Not only SMEs but CPAs and accounting firms should ideally look to increase workforce as well. We all know – “that” time of the year is pretty near! After the lull of the holidays, it is time to spring back to action with a lot of holiday workload piled over – the best way to keep up is to avail outsourced bookkeeping and accounting.

What went by in 2017

Automation process gradually replaced manual work in accounting during 2017. We hope in 2018 accounting will continue traversing the path of further innovations and keep up the trend of automation. CPAs, accounting firms, & business owners have started concentrating on the key areas of analysis and forecast. It was evident in 2017 that CPAs, accounting firms and business owners were able to achieve more returns on their time and investment, all thanks to nifty insights, analysis and forecasts.

2018 Small Business Accounting Trends

Without further ado, we’re going to delve into the predicted trends for 2018.

  1. As we have seen in 2017, we believe 2018 will also see automation gradually work towards reducing the paperwork. A paperless environment will prove highly conducive to outsourced bookkeeping and accounting.
  2. 2018 will take business owners to the point where there will not be any requirement to manually categorize the transactions.
  3. Accountability has drawn a lot of focus from business owners and rightly so. 2018 will see business owners, CPAs, and accounting firms focus on the positive impacts that an accountability-driven work culture can have, on retention, service, profitability and growth.
  4. AI in 2018 is going to play a fairly big role in driving accountability.
  5. 2018 will see an upraise in the demand for reporting nonfinancial information as well – something the CPAs and accounting firms need to pay close attention to.

Know More..

  1. Intangible assets of the S&P 500 were 17 percent in 1975 and 84 percent in 2015. It’s a trend that the accounting profession simply can’t ignore and 2018 will also demonstrate the same.
  2. The trend of hiring outsourced bookkeepers and paraprofessionals will be on the rise.
  3. You didn’t have to hear us say it but here goes – blockchain technology will continue trending. How it affects us – we will save that for another post.
  4. The timing of tax reform is an area that could impact tax season for accountants.
  5. The need for informed business decisions using business insights will be on the rise with the increased availability of expertise. Business owners, CPAs and accounting firms will look forward to having extra time to focus on accounts analysis, thereby improving quality.

If you’re looking to increase time on hands using reliable outsourcing services, give us a call at +1-860-215-4997 or email us at and our executives will be happy to assist you.

Topics: Accounting , Bookkeeping Services

10 Things to do this Christmas!

Posted on 15/12/2017

Hey CPA, are you going to let an extensive workload ruin Christmas this year? We hope not. Avail outsourced bookkeeping and accounting services, and do these 10 things to keep stress at bay and live it up this Christmas. May the joy and cheer of the season keep your spirits high, and workload low. So read on to know how you can steer clear of long hours this holiday season.

10 things to do this Christmas!

It isn’t realistic to say holidays can be stress-free. Anyone who has been through caroling, greeting cards, shopping, eggnog, stockings and lighting, knows for a fact that holidays are anything but stress-free.

But the point here is, what kind of stress do you prefer these holidays – planning Christmas, or working long hours at the office? Honest to God, we hope you said “planning Christmas”, because that kind of stress is bittersweet. The memories and happiness Christmas brings, lasts an entire year! Although, if you’re about to spend the holidays in front of your computer, we really do feel sorry for you.

How can CPAs and Accounting Firms, steer clear of workload this Christmas?

The simple answer to this is to outsource your accounting and bookkeeping to Velan Bookkeeping. We can help you tackle the entire workload with dexterity. We set realistic expectations with our clients when it comes to delivery times and rest assured you get the highest quality output. So this holiday season, if you want work to be completed while you’re spending time with your family, call Velan Bookkeeping at  +1 (516) 717 2049  or email us at  and we’ll make sure that you get enough time off from work to decorate the best Christmas tree ever!

Here are 10 things you absolutely need to do this Christmas

10. Sing Christmas Carols

Here are 5 most popular Christmas Carols to sing this year.

  • Silent Night
  • Good King Wenceslas
  • Once in Royal David’s City
  • Hark! The Herald Angels Sing
  • God rest you merry, Gentlemen.

9. Send Christmas Greetings

Missed it last year? Prep up for the perfect family picture and log in to one of the many online portals for sending Christmas Greetings. Make sure everyone in your family knows that this CPA is sipping warm cocoa with his family this Christmas, and not working late!

8. Shopping

No more last minute gifts. Thanks to outsourced bookkeeping and accounting, you’ve got more time on your hands and that means a better shopping experience! No more rush hour shopping – pick the best and plan your budget. You can do budgets like no one can!

7. Watch Movies

Yes! Spend time with your loved ones and watch all the movies you missed the entire year! Or if you’d rather, cuddle in and check out this list of top-grossing holiday films complied by CNBC.

6. Attend Parties

Go on and meet all your friends & relatives or just take your special someone to that happening nightclub, because after outsourcing to Velan, you’re going to have a relaxed winter knowing for a fact that we’re already working on delivering terrific quality in a commendable TAT!

5. Drink that eggnog

If you’re out of the “love it or hate it” dilemma, take a look at George Washington’s very own recipe for Eggnog – just remember that he forgot to record how many eggs he used! A dozen sounds likely to us though.

4. Make cookies

Or stock them up and start munching. We’re serious.

3. Hang stockings

Santa can drop by you know.

2. Bring out the lighting

Show some Christmas love to your home. Bring out the lights and get down to decorating. What’s Christmas without lights and a makeshift snowman?

1. Decorate the Tree

Decorate your Christmas tree with stars, turtle doves, candy canes, and what not. While some Americans get to have a real tree, an artificial indoor tree is a great option too! So put your DIY skills to good use and decorate a mind-blowing tree this time!

Outsource bookkeeping and accounting to Velan Bookeeping and find time to do all that’s listed on the “10 things to do this Christmas” list! Call us @ +1 (516) 717 2049 or email to and we’ll ensure your work continues as usual while you get time to enjoy Christmas.

Topics: Accounting

Outsourcing Issues? 3 Minutes to Ace Outsourcing

Posted on 04/12/2017

If you’re wondering how your competitors sail smoothly with outsourcing – there is no magic trick to it. Every business faces issues with outsourcing and you’re not alone – especially if you’re a first-timer with outsourcing. But just like any other business function and every other industry, outsourcing has its share of potholes and pitfalls. But doesn’t it strike you uncanny that 78% of Fortune 500 companies outsource major business processes like Payroll, Accounting, Financial reporting Services etc.? We’re going to reveal in this post how the biggies have aced outsourcing – in 3 minutes.

Now that we have your precious 3 minutes, we’re going to tell you about the top 3 problems that plague the outsourcing industry by no real fault of the outsourcing provider. No, we’re not clearing the air but outlining the responsibilities of businesses that choose to outsource. More often than not we’ve seen businesses walking away from the benefits of outsourcing with the “grapes are sour” feeling. Most of such businesses have associated reluctantly with Velan but have ever since, been long-term clients of Velan. Identifying problems are the first step to overcoming them – we’re going to help you with the former and expect you to mitigate effectively.

Bookkeeping Services For Accounting Firms
3 Minutes To Ace Accounting

1. Understanding the Contract and the post-contract processes

While enrolling in a contract, not just first-timers but even old-timers may go wrong. When old-timers sometimes bring in a notion of “this is how we worked with my last association”, they fail to fathom what the outsourcing provider has currently outlined in the contract and worse yet, fail to communicate their granular expectations to the outsourcing provider. A few questions worth asking:

  • With the new outsourcing model in place, who in the client entity are eligible to make requests to the provider?
  • Does the client entity have an established workflow of sending tasks to the outsourcing provider?
  • Are new software tools/systems required? Who pays for those?
  • What kind of services can be availed?How to educate the client-side employees?
  • How are “emergency” change requests handled? What constitutes an “emergency”?

When it comes to ill understanding of the contract, it often happens that both parties dig their heels in and be reluctant to bend (e.g., the client feeling “Why is your contract different?”& “You have to deliver because I’m the customer” and the service provider feeling “we are delivering everything promised in the contract”).

2. Lack of support and failing to identify a Spoc on Client side

A significant problem in outsourcing implementations is lack of support from the client side. When an implementation is underway, it is imperative that the senior management at the client side has an active role and displays sufficient buy-in into the handshake. The case deteriorates when clients fail to identify a Single Point of Contact (SPoC) who will and is responsible to communicate regularly and delegate tasks to the outsourcing provider. This results in opt-out situations and the following may arise:

  • The outsourcing provider will shuttle deliveries of all tasks handed out and will be passive when the basket is empty.
  • The client is unprepared when they hit a roadblock.
  • Both the above cases pose a threat of “expectations not met”.

3. A pent-up demand for services

Let’s face it – outsourcing comes along ONLY after requirements have spent a long time without getting addressed! Requirements sit right in front of you but firms don’t outsource until the requirements go from desks to their seats and start pinching where they’re not supposed to. This can happen for two reasons:

  • The client is waiting for the right kind of expertise and experience to come along in the form of a reliable outsourcing provider or organization.
  • The client has designated limited funds for that function or outsourcing in general.

Both cases give rise to a pent-up demand which starts to look like a bunny being pushed through a hose when it reaches the outsourcing provider. You guessed it – the outsourcing provider struggles to fulfill this demand. This comes last on our list because we believe the outsourcing provider has a responsibility to set realistic expectations, timelines and service agreements prior to undertaking a contract. But even in cases where the outsourcing provider has clarified these nuances, the client feels unsatisfied because they’ve simply waited too long.

We hope your three minutes were put to good use and thank you for trusting us and reading this far. When outsourcing to Velan, we understand the above and strongly believe in educating the client beforehand. Rest assured, the “bunny through a hose” scenario rarely happens in Velan since we’re 500 employees strong and have the ability to quickly ramp up teams on short notice. We know high-volume demands like the back of our hands and have surprised many a client by exceeding their expectations.

If you’re looking to Outsourced Bookkeeping Services, Accounting, Financial Statements, Payroll, Accounts Receivables, Accounts Payables and taxation, Velan Bookkeeping can help you gain a competitive edge in the market with our steadfast and high-quality output.

Try us! Call  1-516-717-2049


Topics: Accounting