1st Place Best Customer Service – Professional Services
3rd Best Employer
Squire is grateful to all who voted and are honored to have placed in these prominent categories. Thank you to all our Squire friends in the Utah Valley community, we look forward to our continuing relationship!
“I look forward to working with our new partners in their new capacity,” said Bullock. “They are each experts in their fields and we are lucky to have them at Squire.”
Amanda is a Certified Public Account who joined Squire in 2005 after receiving a Bachelor of Science from Utah Valley University and a Master of Accountancy from the University of Utah. She works primarily in assurance services, specifically in real estate, manufacturing, insurance, HUD-approved programs, and technology and life science. She regularly attends the IASA (Insurance Accounting & Systems Association) local chapter meetings as well as the Utah Valley Chamber of Commerce Women Business Network, VentureCapital.org, Women Tech Council, and Corporate Alliance events. As a member of the UACPA Financial Literacy Committee, she has the opportunity to teach people in the community courses on financial literacy. She is a 2016 AICPA Leadership Academy graduate—an academy that selects only 50 people in the country to attend annually. Amanda leads Squire’s Women Improving Professionally group. She is working with the AICPA Women’s Initiatives Executive Committee (WIEC) to help them create women initiative resources for CPA firms. Squire is one of three CPA firms selected in the nation to go through a women’s initiatives pilot program with WIEC.
Matt Geddes is a member of our assurance services team. He oversees audits of for-profit entities, local governments, and employee benefit plans. Matt volunteered as a lead adopter to the AICPA’s Single Audit and Employee Benefit Plan Audit Certificates and was among the first in the nation to be awarded these certificates which demonstrate his technical expertise in performing single audits in accordance with Uniform Guidance and performing audits of Employee Benefit Plans. Matt is also a member of the Government Finance Officers Association, American Institute of Certified Public Accountants, and the Utah Association of Certified Public Accountants. Before joining Squire in 2008 he earned both a Bachelor of Science and a Master of Accountancy from Utah State University.
Kevin Johnson joined Squire in the Advisory group in 2004 and graduated from Brigham Young University with a master’s in information systems management degree in 2006. Kevin is an expert in Microsoft Dynamics GP, Microsoft Dynamics 365, Microsoft SQL Server and Excel. Since joining Squire, Kevin has helped countless companies through ERP implementations, training and custom integrations. He currently serves on the Business and Marketing Advisory Board for the Alpine School District and is also involved with Silicon Slopes and the Utah Technology Council. Kevin also leads the technology and life sciences group at Squire.
Squire & Company also announced changes in practice area leadership.
Two of Squire’s four practice areas have new leadership. Reuben Cook will assume leadership of the Advisory Practice Area from K. Tim Larsen, and Wayne Barben will assume leadership of the Wealth Management Practice Area from Tim Christensen. We thank both Tim Larsen and Tim Christensen for their practice area leadership and look forward to their continued support of the firm in their regular partner responsibilities.
We are proud to announce that Squire has been named one of Utah Business Magazine’s 2018 Best Companies to Work For!
Per Utah Business Magazine’s selection process: “All of the companies that participated in the program went through a rigorous examination of workplace elements such as benefits and pay, fairness and opportunities, corporate culture, internal communication and employee pride. To be eligible for the program, companies must have at least 25 employees working in Utah.”
Each company must have a certain percentage of their employees respond to an employee satisfaction survey to help Utah Business better determine the winners.
Squire endeavors to be an employer that people can honestly say they love. We encourage strong work/life balance and offer many opportunities to our employees and their families to have fun together. As the cliché goes – work hard, play hard! (If you are wondering – the answer is yes, accountants do know how to have a good time!)
We are grateful to our employees and all that they do for the company. Thank you to all our staff for being part of the Squire family and for making Squire one of Utah’s Best Companies to Work For.
If you are interested in a career with Squire you can check out our open positions as well as get to know our culture and benefits a little better here.
Squire & Company Names Chief Executive Officer and Office Managing Partners
Salt Lake City, Utah, UT:
Squire & Company, PC (Squire) announced today that Jonyce Bullock, formerly titled as Managing Partner, will be leading the firm as Chief Executive Officer (CEO) and will also serve as Office Managing Partner for the Orem office.
In addition, Squire announced that Shane Edwards was appointed as Office Managing Partner for the downtown Salt Lake City office.
Jonyce and Shane will continue to serve on both the Executive Committee and Board of Directors of Squire.
“A renewed focus on providing outstanding client service through industry specialization and the addition of the Salt Lake office to our Squire team have resulted in significant growth and expansion during 2018,” said CEO Jonyce Bullock. “To help us be best prepared to capitalize on the opportunities for each of our offices and meet the expanding needs of our clients, we have realigned our organizational structure and made changes in key leadership positions. We are now properly positioned to continue our growth through 2019 and beyond.”
Squire is a locally-owned, full-service accounting and advisory firm offering audit, tax, transaction support, ERP implementation, wealth management, and outsourced CFO/Controller services. Squire has been in business since 1973 and acquired the Salt Lake City operations in July 2018.
We’re excited to announce that we have merged with the premier Salt Lake City firm Pinnock, Robbins, Posey & Richins P.C. This merger means a lot of great things for our clients, including a second office in Salt Lake City.
Who is Pinnock, Robbins, Posey & Richins P.C.?
Pinnock, Robbins, Posey & Richins P.C. is an independent, certified public accounting firm that started in 1944. Their shareholders are third generation owners, and in their 75 years of serving the Mountain West area their employees have included past presidents of the Utah Association of Certified Public Accountants (UACPA), the Salt Lake Estate Planning Council, and the Financial Planning Association. Their long history of serving the Mountain West has given them a reputation for honesty and integrity.
James R. Beaudoin, managing partner at Pinnock, Robbins, Posey & Richins P.C,
commented that their “long tradition of excellent client service and of providing employees opportunities for growth will be enhanced by combining the resources of these two great firms.” We believe that their company mission is perfectly aligned with Squire’s mission to provide higher perspective and smarter vision.
What does this mean for our clients?
Our merger with Pinnock, Robbins, Posey & Richins P.C. will allow us to offer advanced expertise to our new and existing clients across many sectors, including construction, manufacturing, nonprofit, professional services, and more. With the combined experience of our respective teams, our accounting and advisory services will expand to accommodate even more clients and industries.
Squire will be inheriting five partners and twenty staff from Pinnock, Robbins, Posey & Richins P.C. to have a total of twenty-one partners and 130 staff. This expanded team will bring many years of knowledge and insight to Squire and will contribute to our long-standing legacy of serving our clients faithfully in the Mountain West.
“With such a strong cultural fit between our two organizations, we believe we will be better together,” said Jonyce Bullock, managing partner at Squire. “Because we share important characteristics like a 100 percent commitment to quality and partnership with our clients, we believe there is deep synergy in our vision for the future.”
The office of Pinnock, Robbins, Posey & Richins P.C. in downtown Salt Lake City will now be a resource for our clients along with our longstanding Utah County office in Orem. You can visit with us at our office in Orem or visit us in our new office in Salt Lake City.
1329 South 800 East
Orem, Utah 84097
Salt Lake City Location:
215 South State Street, Suite 850
Salt Lake City, UT 84111
We’ve been investing in the futures of our clients for over 45 years. With our merger with Pinnock, Robbins, Posey & Richins P.C., we’re ready to invest even more and continue delivering quality services.
As your business grows, your accounting software needs are likely to change. What used to work brilliantly on its own may now require using multiple apps that you have to figure out how to use and then integrate with your current accounting system. It can be difficult to decide whether or not you need to make a shift to a new accounting system.
Many larger businesses that do take the leap to a new accounting software decide to switch to NetSuite. NetSuite is an ERP that allows you to work in multiple modules in the cloud. It’s generally recommended for mid-size businesses to large businesses with a minimum of 50 employees. If your company file is starting to get too large to run properly and you find yourself getting frustrated with the number of outside apps you need to connect with your current system, NetSuite might provide the solution you are looking for.
Advantages of NetSuite
NetSuite handles all of the hardware, software, upgrades, and security. You can easily access it from any browser using your login regardless of electronic device.
NetSuite allows you to customize your software package to meet your needs by choosing the specific products you would like to add such as CRM, HR, compliance, project management, warehouse management, and much more. While you can integrate some outside apps with NetSuite, you may find that they already have a ready-to-go addition to meet your needs.
NetSuite grows with you. In addition to customizations, you can also expand your company across countries, languages, currencies, and subsidiaries without having to set up their own company files from scratch.
NetSuite encourages collaboration regardless of location and language. It allows you to assign tasks, use approval processes, and automate accounting steps.
Disadvantages of NetSuite
NetSuite does cost significantly more than other alternatives such as QuickBooks Enterprise and Microsoft Dynamics. The cost for implementation on its own can run into the tens of thousands of dollars. After that, they have a subscription model.
NetSuite does not have an easy to access way to have questions answered through Google search engines or YouTube videos like QuickBooks does. Usually you will need to contact either NetSuite’s customer service or a firm like Squire to address issues.
NetSuite Pricing can get confusing depending on the number of add-ons, which is why they request you speak with them about a quote instead of listing the prices directly on their website.
If you are interested in learning more about NetSuite, please contact us. We have a NetSuite team ready to answer your questions and assist with implementation if you feel it is the right solution for you.
Larry H. Miller Megaplex Theaters at Thanksgiving Point
2935 North Thanksgiving Way, Lehi, Utah
Free to Squire Clients
Please join Squire for an evening of John O’Leary, a #1 National Bestselling Author & Speaker.
Expected to die. Now teaching others how to truly live.
In 1987, John O’Leary was a curious nine-year-old boy. Playing with fire and gasoline, John created a massive explosion in his home and was burned on 100% of his body. He was given 1% chance to live.
This epic story of survival was first showcased in his parents’ book, Overwhelming Odds, in 2006. Originally printing 200 copies for friends and family, his parents have sold 60,000+ copies, most in back-of-room sales at John’s speaking events. It was this book that first invited John to embrace his miraculous recovery and share it with the world.
John inspires 50,000+ people at 100+ events each year. He speaks to companies and organizations across industries, such as: sales, healthcare, business, safety, marketing, financial services, faith, education and insurance.
Consistently described as “the best speaker we’ve ever had,” John receives nearly 100% of his engagements from referrals. His schedule is a testament to the power of his message and who he is as an individual. His emotional story-telling, unexpected humor and authenticity make each of his presentations truly transformational.
John’s first book ON FIRE: The 7 Choices to Ignite a Radically Inspired Life was an instant #1 National Bestseller; 100,000+ copies have sold and it has been translated into 12 languages. John’s Live Inspired Podcast is a top 20 for business on iTunes & Inc. Magazine. His online community is 200,000 strong.
John considers his greatest success to be his marriage to his wife Beth, their four children and his relationships with friends and family
In the eyes of the IRS, “dependent” can mean much more than a biological child who lives with you.
Numerous individuals may depend on you for financial support. You might be sending money to a niece to help her through college or occasionally paying bills for an aging parent. And there are always those college kids who need extra money sometimes for books and activities and clothes.
Can you consider them “dependents” on your income tax return if you send them funds on a regular basis?
The IRS goes beyond the “nuclear family” when it defines the entry on your Form 1040, but there are limits. Here’s who you can’t claim;
Anyone who is not a U.S. citizen, U.S. resident alien, U.S. national, or a resident of Mexico or Canada
A married individual who is filing jointly as a dependent (exception granted if the person is only filing if he or she is requesting a refund of estimated or withheld tax paid)
Anyone – if someone is claiming you (or your spouse, if you’re filing a joint return) as a dependent
Note: As with many things IRS, there are exceptions to most rules. Questions? Ask us.
You can, however, claim a Qualifying Child as a dependent on your income tax return. In order to do so, the individual must:
Be your son, daughter, stepchild, foster child, brother or sister, half-brother or –sister, stepbrother or stepsister – or a descendant of anyone in those relationships.
Be younger than 19 at year’s end (and younger than you) or a student who is younger than 24 at the end of the year (and younger than you) or totally/permanently disabled (any age).
Have resided with you for more than 50 percent of the year.
Have depended on you for support; can’t have been responsible for greater than 50 percent of his or her own annual support.
Not file a joint income tax return for the related tax year (unless only to claim a refund/withheld or estimated tax paid).
Keep in mind, too, that an individual can only be considered a Qualifying Child by one person. The IRS has rules for determining who can claim the child. If you’re in this situation, we recommend you let us help you sort this issue out.
You may also be able to claim a Qualifying Relative as a dependent. This individual must be living with or related to you, but not be anyone’s Qualifying Child. He or she must bring in less than $4,050 in annual gross income, and be supported—usually, more than half—by you.
A Complex Issue
As you might guess, there are numerous other IRS rules legislating the claiming of a dependent on your income tax return. We’re available to address this issue and any others related to your taxes.
As we close out the 2017 calendar year, we’d like to first wish you a very pleasant holiday season. We’d also like to get in some reminders of the financial tasks you should be doing in December before the tax year ends. Have you, for example:
Made all charitable donations?
Combed through your Accounts Receivable to see who needs follow-up?
Paid all bills through the end of the year, and reimbursed any expenses due?
Paid all payroll taxes?
Paid all estimated taxes?
Worked on your 2018 budget?
Paid all you intended to into retirement accounts?
Year-end is a good time to create the critical accounting reports you need to keep a close watch on your financial status (Balance Sheet, Cash Flow Forecast, etc.). If you haven’t been doing this regularly, and even if you have, you need to do so as we get ready to welcome 2018.
This is fairly easy to do if you’re using accounting software, but these reports can be difficult to interpret and analyze. We’ll be happy to step in and take care of these for you. We look forward to working with you in 2018!
For whatever reason, you didn’t file an income tax return by April 18, 2017. Don’t wait until next year, and don’t think that the IRS won’t notice. You need to do something about it now.
If you didn’t file because you didn’t think you’d have enough money to pay your tax bill (or you waited too long and simply couldn’t complete your tax preparation), you could have applied for an extension. The IRS still expects you to send in what you think you’ll owe, but if you pay at least 90 percent with the extension, you may avoid some penalties. You’ll then have six months to pay all taxes due and turn in your tax return.
At the very minimum, complete and send in the Form 4868 by the April deadline with some payment if this happens again. The IRS wants to hear from you at filing time.
It’s too late to file this for the 2016 tax year, but for future reference, this is the form you’d complete to request an individual extension. Many businesses would use the Form 7004. Both forms represent requests for six-month extensions.
File and pay as quickly as you can, whether or not you can pay the entire amount due. That’s what the IRS says to taxpayers who missed this year’s deadline. This will minimize penalties and interest charges (the agency charges interest, a failure-to file penalty, and a failure-to-pay penalty if you owe). You may be able to avoid these if the agency accepts your reason for being delinquent.
There’s no penalty if you’re due a refund, but you must file for it within three years.
How do you file? You cannot file electronically after the extension deadline in October, either on the IRS servers or through commercial software or websites. You’ll have to file a paper return. You can either send a check along with your return or use the IRS’ online payment options.
Warning: Remember that the IRS will not send you an email or make a phone call demanding immediate payment. Such a request is part of a phishing scam.
Planning Ahead, Always
How do you keep this from happening again? Our suggestion is that you start doing tax planning year-round. Tax planning should really be a part of your overall financial planning, and it’s something you need to be thinking about all year.
We can help you in several ways here, by:
Working with you to understand what you should be doing every month and quarter to increase your understanding of your ongoing income tax obligation.
Make recommendations when your company is planning to make large purchases. We can advise you on timing and on how you should be claiming the acquisition on your tax return.
Going over your business expenses with you. Do you know what items should be recorded, categorized, and included when you file?
Creating reports that will help you calculate your quarterly estimated taxes.
Preparing your income taxes when the time comes.
By always considering the tax implications of your income and expenses, you accomplish three things. You make smarter purchases – and at times when you need the deduction. You’re less likely to get a big, ugly surprise at filing time. And you may well be able to minimize your obligation to the IRS.
Still sitting there with a pile of receipts and forms from an unfiled 2016 return? Let us help you get back on track.