Posts Tagged ‘Best CPA Southlake Texas’
Consider A Midyear Self-Audit
The word audit makes most of us uncomfortable. But by using auditing principals within your own business, you may quickly discover ways you can enhance your organization’s full-year performance. Here are some factors to consider. Prepare with a pre-audit. Perhaps the most obvious use of a self-audit comes to play as you prepare for a…
Read MoreBe Tax Wise When Withdrawing your Retirement Savings
You’ve spent years saving for retirement, but now it’s time to plan the best way to manage your retirement savings withdrawals. Here is a potential method to help maximize your funds using a tax-advantaged strategy. First, look at Social Security and pensions. You can use these funds for daily living much the same as you…
Read MoreDepreciation Made Easy for 2017
If your eyes glaze over when you read the word “depreciation” you are not alone. While depreciation is simply deducting the cost of business equipment over time, special tax provisions allow flexibility in how much can be expensed in a given year. The first solution is the Section 179 deduction. You are able to…
Read MoreWhen Business Travel Makes Sense
There are many things that come in pairs because they make sense – peanut butter and jelly, salt and pepper, shoes – the list goes on and on. Travel insurance for business travel is no different. There are inevitable changes to business travel or circumstances that arise while away from home. One way to protect…
Read More5 QuickBooks Online Add-On Apps You May Need in 2017
Not finding quite everything you need in QuickBooks Online? Here are some handy add-on apps available. QuickBooks Online may work for you just fine as is. After all, it was designed to meet the needs of the millions of organizations that want to manage and track their income and expenses, create records and transactions, and…
Read MoreWill You Have to File a 2016 Tax Return?
The filing requirement rules for individual 2016 Tax Return are fairly straightforward. In general, you’re required to file a return based on your filing status, your gross income, and your age. Here’s an overview of the rules for 2016. 2016 Tax Return Single taxpayers (including those who are divorced or legally separated). If you’re under 65…
Read MoreDo You Need A Safe Deposit Box?
Though you may have thought bank safe deposit boxes no longer existed, these secure containers are still around, and can be useful for storing difficult to replace items, such as deeds, contracts, and your home inventory. Should you have one? Here’s what to consider. Peace of mind. Knowing that key original documents are in a…
Read MoreThe Taxing Side Of Divorce
Are you getting a divorce? Amid all the upheaval, taxes are not likely to be foremost on your mind. Yet overlooking the tax consequences can be costly. Here are some of the basics. Your filing status will change. No matter if you get your final divorce decree or separate maintenance on January 1, December 31,…
Read MoreBusiness Charitable Deductions Require A Little Tax Wisdom
Aristotle famously lamented that giving away money is easy, but giving it away wisely is another matter. For business owners, smart giving begins with an understanding of a few tax rules. Your business form. The tax implications of giving to charity from your business depend on your form of entity. A regular C corporation can…
Read MoreNew Phishing Scheme Involving W-2s
Dana McGuffin CPA has recently heard of an instance where this very scheme was perpetrated within a company in the DFW area. Be aware and take precautions by educating your staff. From IR-2016-34, March 1, 2016: The Internal Revenue Service today issued an alert to payroll and human resources professionals to beware of an emerging phishing…
Read More