So, by now, you are feeling the relief of knowing that your taxes are done, right? Well, maybe some of you are feeling relieved. Some of you are still not happy as the 2013 tax increases hit you harder than expected. Tax season is always a time to reflect on what you did last year [...]
If you have been procrastinating on filing your 2013 tax return or have other prior year returns that have not been filed, you should consider the consequences. The April 15 due date for the 2013 returns is just around the corner. That is also the last day to file a 2010 return and be able [...]
I am pretty involved in my profession. I make it a habit of attending at least 2 conferences a year NOT in Arizona usually sponsored by the AICPA and the Thriveal CPA Network. I am categorized very nicely as a small practitioner in a small firm and I am usually grouped with other CPA’s that [...]
As a newlywed you have likely experienced some wonderful and euphoric moments….. so why spoil it? Well reality has to set in sometime soon so here are a few moves that will help reduce your tax filing issues in the new year!!! If you got married during 2013, don’t forget to notify the Social Security [...]
Unfortunately, we generally don’t know this term until it’s too late. Consequences require us to remember and then we have heart burn anytime we sell a stock. Yes, it’s important. Why you ask? Because: Basis is the point from which taxable gain or loss is measured Good basis records are required to minimize taxable gains [...]
2014 will be a challenging tax year for businesses and higher-income taxpayers. The following issues are concerns that may impact you and your company’s tax liability in the new year. Small Business Health Insurance Credit – The tax credit to small employers (25 or fewer equivalent full-time employees) that provide an affordable health insurance plan [...]
Ok, I admit it. I am a geek. I love software. I am crazy about the wonderful puzzle that accounting is. I really got excited last year when I found a new software that promises to rival QuickBooks. They call it Beautiful Accounting Software. It’s Xero.com. Yes, its beautiful accounting software and I love not [...]
Customer whole big picture view is not an easy task. We as CPA’s spend a ton of time trying to see what was done, by whom and when to put together facts for the whole picture. Sometimes we are missing relevant information that is held onto by the “bookkeeper” or even the owner who prepares [...]
I love franchises. Who doesn’t love a business that is completely replicable? They are created to provide the same experience to the customer no matter the owner or location. Franchises spend an exorbitant amount of time and money making sure that they train and prepare the franchisee to create the same experience. As a young [...]
The tax law provides a credit for small business employers in 2010, 2011, 2012, and 2013 that pay the health insurance premiums for their low- to moderate-income workers. This refundable credit can be as much as 35% of the insurance premiums paid by the employer. To qualify for the credit, the employer can’t [...]