Tax Overhaul Likely Coming Soon
Now that the election is behind us, hopefully Congress and the White House will get together and reform what has become an ever expanding and complicated Internal Revenue Code. We have been… Continue On +
Identity Theft and Your Taxes
We are seeing a lot more instances of refunds being put “on-hold” until the government can figure out possible Identity Theft issues. This can become very frustrating for our clients. Not surprising… Continue On +
Your Cash World, Our Tax World
For some doctors it feels like they are on a different planet as their accountant and advisor. One of the reasons for this feeling is because the business owner lives in the… Continue On +
Understanding Federal Tax Brackets
Through my 12 years as an accountant and tax advisor, I have found that most people do not fully understand how the federal tax brackets work. Typically people’s perception of how they… Continue On +
Tax Tips for the Recently Married
As late spring and summer are the most popular time for weddings, if you are part of this year’s newlyweds have you considered your financial affairs? Following are some items that you… Continue On +
The Corporate Automobile
One of the benefits of a corporation is the possibility of putting your car into the corporation. When a car is in a corporation, the corporation is responsible for paying for all… Continue On +
Planning in 2012 for 2013 Tax Law Changes (Part II)
Following are the next series of tax law changes (continued from Part I) that you should anticipate and plan for in 2012 as a result of the expiration of the “Bush Tax… Continue On +
Personal Expenses and the Corporate Account
Commingling personal expenses and business expenses is a bad idea for multiple reasons. A prudent business owner needs keep the expenses separate and it is important to understand that even if you… Continue On +
Planning in 2012 for 2013 Tax Law Changes (Part I)
With the recently “upheld” Health Care Reform Act (HCA) and the “Bush Tax Cuts” (BTC) expiring, we are expecting some big tax changes for 2013. This presents some tax planning opportunities that… Continue On +
Why Would One Want to Form an S-Corporation?
As with other corporations or LLCs, an S-corporation can provide its owners with legal protection; also known as Assets Protection or Limited Liability. This can help protect the owner if someone decides… Continue On +
The Importance of Reconciling Your Accounts Receivable
As a client of Fluence, you are likely aware that we tie down your accounts receivable (AR). What does this mean and why do we do it? During the reconciling or “tying… Continue On +
Recharacterizing your 2010 Conversion from Traditional IRA to Roth IRA
We are writing to inform you that if you act by October 17, 2011, you have a last chance to “reach back” and change the nature of IRA contributions (including conversions to… Continue On +