As the PRANDI Client Account Manager, which really means the resident bookkeeper, it has been an extremely busy year for my accounting team. We just finished up last year’s 1099s from 2 different software programs, together with annual Summary reports, after our 2010 switch-over in July. The new software has been quite a learning curve for all involved and we appreciate the patience and understanding from our owners. Now, we are busy filling special requests for our owners’ tax accountants to help everyone comple
te the year.
New this year, the CA Franchise Tax Board made it mandatory that we collect and send 7% of rent income to the State for our out of state owner. Not a popular task!
Property taxes are just around the corner, so we’ll be starting our “Hold-Back” of funds this month, if you’re one of the owners who have specified that we pay taxes for you.
As of the first of the year, we started updating our vendor business licenses and liability insurance to make sure they are current. Our vendors have been hand-picked by us, and are the best in their respected fields, so as to give you the best service you deserve.
We are off into year 2011 with a great start and ready to take on new challenges and excitement – but we always have FUN in the process!
