As it does every year, the Internal Revenue Service recently announced the inflation- adjusted 2016 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2016, the standard mileage rates for the use of a car (or a van, pickup [...]
Frequently taxpayers will hire an individual or firm to provide services at the taxpayer’s home. Because the IRS requires employers to withhold taxes for employees and issue them W-2s at the end of the year, the big question is whether or not that individual is a household employee. Whether a household worker is considered an [...]
Hiring a CPA is a big step in a company growth plan and should be taken pretty seriously. Just like you interview employees or check out other potential vendors, a CPA should be vetted to match your specific needs. A couple months ago I was taken through multiple steps which was not the norm. [...]
As usual Congress has waited until the 9th hour to announce tax provisions that were extended into 2015 or made permanent. This is basically par for the course and is done every single year. Take a look at this long list of provisions that are pretty important to most taxpayers. INDIVIDUAL PROVISIONS: Child Credit [...]
As usual Congress has waited until the 9th hour to announce tax provisions that were extended into 2015 or made permanent. This is basically par for the course and is done every single year. Take a look at this long list of provisions that are pretty important to most small business taxpayers. BUSINESS PROVISIONS: [...]
Let's talk about a CPA or Certified Public Accountant in a nutshell. Well actually there is no such thing as a CPA in a nutshell. We are a profession that is fairly old and that means there are a bunch of different types of CPA’s. Just like lawyers, there are specialists in their field and industries [...]
I am a firm believer in a couple of things. If you keep doing what you always do, you get the same results you always have. Life is too short to keep doing things that aren’t working. Your business and life changes constantly. I think now more than ever I struggle to [...]
The magic word is “please”. That is what we are taught growing up. My parents at a very young age always reminded me to say please and thank you as that was the polite way of expressing gratitude and appreciation. Now, my oldest daughter reminds me of my rude and bossy language and adds [...]
If you are one of the many individuals or families who purchase their health insurance through the federal or a state government health insurance marketplace and are receiving an advance premium tax credit (subsidy of premium available to those with low to moderate income) to help you pay the cost of that insurance, you should [...]
It is not joy that makes us Grateful, it is gratitude that makes us Joyful. This is the week of Thanksgiving and I wanted to write about all the wonderful things that I am grateful for….. In striving for success we all forget to stop and sometimes smell the roses. Its only when we stop [...]