About Us

Rene A. Calderon Tax Accounting Firm is a comprehensive Accounting &
Consulting Firm. We are a network of Tax Accountants working hard to find
effective solutions to your complex individualized needs. We specialize in
providing Tax Accounting Services to Corporations, Small Businesses and
Individuals.

Mr. Calderon has over 15 years of experience working in the Accounting
Field. His vast experience includes Start-Up Companies, Public Agencies,
Service Industries, Retail and Wholesale Industries, Manufacturing , Financial
Analysis, Credit Analysis, SBA Loan Programs, Internal Audits, Process
Audits, Fixed Assets, Business Plans, Audit Representation, Business
Consulting for C-Corporations, S-Corporations, Partnerships and Sole-props.

Mr. Calderon obtained his Bachelors Degree from California State University,
San Bernardino. He is an Enrolled Agent with the Internal Revenue Service.
He has been certified by the Small Business Administration as a Financial
Analyst I & II.

Call us today at our toll free line, 888-728-2378, for a free consultation with a
tax accountant. Our knowledgeable staff can assist you with any of your
Accounting needs

Accounting principles are the basic assumptions, rules of operation, and essential
characteristics that make up the framework for the construction of accounting financial
statements.
Long ago, I was perplexed to discover that there was no "set" of accounting principles that was
presented in one form such as you might find in the Bill of Rights. This is not to say that the
principles are incomplete or vague, it only means that the definitions of accounting principles
can be presented in various formats, which may lead to confusion for some people, especially
beginners.
Be that as it may, accounting principles are absolutely necessary when preparing financial
statements, just as the rules of a particular card game make the card game possible in the
first place. Accounting principles are like the glue that holds the accounting process together.
For example, financial statements have an overall objective, which is to provide the user of the
statements a useful tool for making business decisions.
In order to be useful, the accounting information must have certain characteristics, such as
being dependable and practical. To be dependable, the accounting information must be
unbiased, accurate, and verifiable. To be practical, accounting information must be predictable,
prepared in a timely fashion, and be able to provide meaningful feedback. Additional
characteristics are that the accounting information must be consistent, comparable, serve a
utilitarian need (such as cost/benefit), and make a material difference.
Besides characteristics, certain operational rules are established as to when revenue and
expenses are reported; how expenses are matched to revenue; what to do when a choice can
be made that might overstate or understate figures; and, what information should be disclosed
so that the reader will fully understand the circumstances under which the information is being
presented.
There are also basic assumptions that the reader can count on, such as: the information is
related to the business entity only and doesn't have any unrelated information mixed in; the
business is a going concern and won't cease operations soon; the financial information
presented is measured in specific time intervals such as a month, quarter or year; the financial
information is using a certain unit of measure such as dollars, not board feet, etc.; the
information is presented at historical cost, i.e., when received, paid, or incurred; and, the
method of accounting being used is double-entry and not some other method.
These are accounting principles as opposed to accounting standards. An accounting standard
is an agreement as to how an accounting issue will be treated. For instance, a standard might
state what type of inventory system is appropriate to use for a certain type of business; how
capital leases should be recorded; how many years intangible assets should be amortized;
what methods of depreciation should be used, and so on. There are literally thousands of
accounting standards that have been issued over the years. These standards are constantly
being revised or discarded as they become outdated.
If you want to play the accounting 'game of cards', you must become familiar with the 'rules of
the game', which are accounting principles and standards. If you choose to not play by the
rules, you do so at your own peril, as we have seen recently in the U.S. Corporate accounting
scandals.

Make no mistake: There will be
more audits on the horizon. The
IRS has been adding staff since
2005, and it's ramping up to
recoup some of the audit money
lost when it became the "kinder,
gentler IRS."
Just because you received your
refund check, don't assume that
the IRS has reviewed your return
and has given its blessing.
That's true whether you file
electronically or with a paper
return. Sure, the IRS checks for
obvious errors and suspicious
deductions, and it may hold up
your refund check while it
investigates. But simply
receiving a refund doesn't mean
that you're home free.

In fact, audit determination is
made long after the refund
check is issued. After your return
has been filed and you've
received your refund, your tax
return goes through another
computer check, comparing it to
a computer model. The return
then receives a DIF
(Discrimination Information
Function) score.

The IRS calculates the DIF
score with a very closely
guarded formula. Returns with
high DIF scores are then pulled
and reviewed by skilled and
experienced IRS agents to
determine which ones have the
greatest potential for yielding
additional taxes, interest, and
penalties.

Generally, the IRS has three
years from the time a return is
filed to perform an audit. While
the IRS likes to begin the audit
process three to four months
after the tax return filing
deadline, many returns aren't
audited until 18 or even 24
months later.*