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 [...]
It’s back-to-school time. Why not take a page from the kids’ books and do some learning of your own? QuickBooks is easy to use, intuitive and flexible. But it is not an accounting manual or class or tutorial. If your business is exceptionally uncomplicated, you might get by without knowing a lot about the principles [...]
Can you all say “yeah for simplification?” Anytime the IRS gives us an opportunity to simplify the current system I get excited! All those who have a home office will to. Effective for tax years beginning in 2013, taxpayers can elect a simplified deduction for the business use of their home. The deduction is $5 [...]
Clarification on this subject is never a terrible idea since it has changed in recent years. We get asked this all the time so here is the skinny on Child and Dependent Care Tax Credits. The Child and Dependent Care Credit can help offset some of the costs you pay for the care of your [...]
One of the many mistakes that I see in my profession is waiting too long to get help in accounting and tax preparation. We think we know when we are going to go to that next step but wait faithfully for the day to come to “need” someone. We think in 2 months we can [...]
Savvy business owners use a Certified Public Accountant to help with their taxes, knowing that training and experience can help to dramatically boost tax savings. But a good CPA is more than just a tax advisor—he or she is a business expert who can help with a range of financial and business development concerns. If [...]
…and How a CPA Can Help Most business owners would rather suffer through a root canal than be subject to a tax audit. Even for those who keep meticulous records and adhere to all state and federal regulations, the auditing process can involve weeks of anxiety and tedious red tape. Without professional guidance, most taxpayers [...]
No business owner looks forward to the chaos of tax season. When you’re already juggling customer service, marketing, and business development, it can seem virtually impossible to make time for preparing your financials. That’s where your CPA comes in. If you think an accountant’s role is limited to preparing and filing annual tax returns, it’s [...]
Think Again. You wouldn’t set off on a cross-country journey without your GPS system—so why risk navigating the sometimes turbulent waters of business ownership without a qualified tax professional to guide you? Considering the proven benefits of hiring a Certified Public Accountant, it’s surprising that a significant number of business owners don’t use one. What’s [...]
Well, if you know me, there are a lot of things always going on at GMLCPA,pllc. So, I wanted to update you all on what we have been working on over the summer. As a progressive Next Generation CPA firm, the only thing that stays the same is change and I am proud to say [...]