You are through with your tax filing for 2014. Saw the penalty and freaked out a little! BE PREPARED it will be more in 2015!!! The penalty for not having minimum essential health insurance for yourself and other members of your tax family takes a substantial jump in 2015. For 2014, the penalty was [...]
The GMLCPA team are here to offer more opportunities to partner with you and GROW your company in a big way!! Time is a factor. That is what everyone is saying these days. Too much to keep up with, changes, technology, life, children, there is no time for you. Am I right? I know. [...]
2014 marks the year when we really had to worry about the tax implications of this law. No matter your political opinions this is now an issue that affects millions. It is what it is! The Affordable Care Act, the federal health care law, will bring some surprises at tax time for many. This [...]
Recent legislation passed just before adjournment by Congress provides some last-minute opportunities for taxpayers. These include tax provisions that had expired in 2013 but because of this bill have been extended through 2014. However, to take advantage of these extended laws you must qualify for them based on actions taken earlier in the [...]
Happy back-to-school season! Did you get your checkbook ready yet for all those expensive books, tuition, parking fees, lab fees, etc., etc., etc.? Not so fast! There are lots of options out there that will help you decrease your expenses. First, let’s take a look at everyone’s favorite American Opportunity Credit. If you or your [...]
As I get older (not that I am old) I notice more and more how having more stuff actually causes more stress. We do live in a consuming society. The next new gadget promises new and exciting features that you CAN NOT live without. We live with what we generally have defined as first world [...]
Bad accounting? Records are a mess? Well, it’s going to cost you. Yep, just like everything else in business there is an opportunity cost to doing things badly. I am approached all the time and people ask me right off what it’s going to cost for us to do their accounting and I [...]
Year after year this is a question that I wonder about. As a service company we obviously think about retention of current customers. Marketers and consultants use the lifetime value of a customer as a reason to try to keep all the customers you currently have. It’s a simple calculation. Amount you are paid annually [...]
I know you have heard of it. It’s a dark shadow hanging out in the corners of every company. Have you thought about how to be more creative but too scared to mention it because maybe if you step outside of the lines you will either go to jail or lose all self-respect. Creative Accounting [...]
Back in December, I was invited to attend the AICPA first ever task force for the NextGen CPA Firm. It was my first trip ever to Raleigh, North Carolina which if you know me, I love to travel. I didn't get much time to sightsee. It was a quick trip. On the way there I [...]