Smith Conley & Associates, PC
  • Email
  • Facebook
  • Google+
  • Linkedin
  • Twitter
  • RSS
Follow us on
  • Home
  • Articles
    • For Individuals
    • For Business
    • Tools
    • Estate Planning
    • Tax Humor
    • All Articles
    • Step into the batting cage with us!
  • Answers!
    • Answers
    • Services
    • Asset Protection
    • Uses for your SCA portal
  • Portal Login
  • Contact Us
  • Free Text Alerts
  • Featured Clients
Navigation
Search the site...

Step into the batting cage with us!

battingcageIf you’ve ever been in a batting cage to practice your hitting, you know that the baseballs come fast and furious. We’re the equivalent of a tax-planning batting cage. Just pick your area of interest and every 15 seconds, we’ll throw you a new idea. You can use the pause,back, and forward buttons to review the ideas.

Planning ideas for Individuals

For Individuals

  • Thanksgiving Items

    Our clients are some of the most grateful people we know. It seems appropriate on this holiday to document the things that we’re most thankful for and the persons responsible for them. We’re always thankful for you, our clients, and look forward to serving you in the coming year!

    Read More
    Thanksgiving Items
  • Do you receive Social Security, Civil Service, or VA Benefits:

    There's some good news and some bad news

    From one of our Elder-Law attorney friends Ira Leff As the old joke goes, there’s good news and bad news…   The good news is that your Social Security, Civil Service, and V.A. benefits are going up in January by 1.3 percent. So, if you are currently receiving $1,000 per month gross income, starting in…

    Read More
     Do you receive Social Security, Civil Service, or VA Benefits:<br><h2>There's some good news and some bad news</h2>
  • The Electoral College – should we eliminate it?:

    Watch the video to learn the history and purpose the Founding Fathers had for the EC:

    Doe the EC still serve a useful purpose? The answer is surprising!

    Read More
     The Electoral College – should we eliminate it?:<br><h2>Watch the video to learn the history and purpose the Founding Fathers had for the EC:</h2>
  • An Extra 100 days of Medicare Coverage:

    Covid extends skilled care timeline

    Most of our clients who are elder-care providers are aware of the 100 days of skilled care (Nursing Home Coverage) that Medicare will provide. Due to the COVID crises, an extension of this timeline is available. Elder-Law Attorney Ira Leff describes this in detail on his website. The summary below is reprinted with permission from…

    Read More
     An Extra 100 days of Medicare Coverage:<br><h2>Covid extends skilled care timeline</h2>
  • Should you move to a state without income tax?:

    We examine the factors your should consider

    If you’re considering moving to a different state, taxes in the new state may be the deciding factor—especially if you expect them to be lower. Consider All Applicable State and Local Taxes If your objective is to move to a lower-tax state, it may seem like a no-brainer to move to one that has no…

    Read More
     Should you move to a state without income tax?:<br><h2>We examine the factors your should consider</h2>
  • Facts about IRS and Forfeiture of Assets

    When you get two tax attorneys discussing how IRS can take your assets before you are even accused of a crime, it gets my attention. As our guest speaker attorney Kelly Phillips says, “Due process is a fundamental Constitutional right.” You may feel like you’re in a law school class, but the audio below is…

    Read More
    Facts about IRS and Forfeiture of Assets
  • The most oft-asked question about stimulus checks

    Q: What if you had extra one-time income (an IRA withdraw for example) and exceeded the income limit to receive an advance stimulus payment? A: The law specifies that stimulus checks are based on a temporary, refundable tax credit for tax year 2020. If your income will be substantially less this year and you otherwise…

    Read More
    The most oft-asked question about stimulus checks
  • Advanced ID Theft – How they do it:

    Learn how to not be a victim

    When it comes to protecting ourselves from ID theft, our problem is that most of us don’t think the same way that a criminal does.  Good legal advice becomes vital because an attorney who has presided over such cases can share some of the methods that ID thieves may use. Our guest editor this week…

    Read More
     Advanced ID Theft – How they do it:<br><h2>Learn how to not be a victim</h2>
  • RMDs made PDQ:

    RMD (Required Minimum Distribution) rules have changed - Should you take advantage of them?

    This subject reminds of a famous line from the movie Jurassic Park. “Your scientists were so preoccupied with whether or not they could, they didn’t stop to think if they should.” So even though you could access your IRA account in a tax-advantaged way, you should be careful about raiding your retirement funds except for…

    Read More
     RMDs made PDQ:<br><h2>RMD (Required Minimum Distribution) rules have changed - Should you take advantage of them?</h2>
  • The worst kind of ID theft:

    What if someone stole something more valuable than money?

    Although we’re very good at tax and accounting, when it comes to legal matters, it always pays to consult a good attorney and, in this case, a sitting Magistrate Judge.  Judge Kathy Brown Valencia is our guest editor this week. She serves as Magistrate Judge, Post 2 (county-wide), and is the incumbent candidate for the…

    Read More
     The worst kind of ID theft:<br><h2>What if someone stole something more valuable than money?</h2>
  • Your stimulus check- how to make sure IRS gets it right:

    Use our free calculator to double check IRS

    Most of us are a little doubtful of the IRS’ ability to get things exactly right especially with the rebate being partially phased out as your income goes up. If you’d like a method of double-checking the government’s calculation of your soon to be coming stimulus check, feel free to use our calculator below. Just…

    Read More
     Your stimulus check- how to make sure IRS gets it right:<br><h2>Use our free calculator to double check IRS</h2>
  • The SECURE ACT – New Rules for Retirees:

    A last minute Christmas surprise from Washington

      New Law Extends Key Tax Breaks into 2020 — aka How Congress tries to upset your year-end planning Just when it seemed like Congress was too distracted by impeachment proceedings and national security to worry about taxes, they throw curveballs into our year-end tax planning.  The Extenders and Secure (Retirement) Act are just a…

    Read More
     The SECURE ACT – New Rules for Retirees:<br><h2>A last minute Christmas surprise from Washington</h2>
  • Business Reading List for the Holidays:

    Increase your profits by learning the basics of ecomomics

    To succeed in business, it’s necessary to learn some economic theory. Don’t worry – this doesn’t mean you have to have a degree in Econ studies – it just means you grasp some principles of how free markets work. Some of the best reads that I’ve ever found are described in our video review below.…

    Read More
     Business Reading List for the Holidays:<br><h2>Increase your profits by learning the basics of ecomomics</h2>
  • Christmas giving and tax deductions:

    How to let Uncle Sam help your favorite charity

    In the case of non-cash charitable gifts you need to be careful not to fall into several tax traps that may limit your deduction.

    Read More
     Christmas giving and tax deductions:<br><h2>How to let Uncle Sam help your favorite charity</h2>
  • Chrisley knows best — except for taxes:

    Things Todd should never tweet about

    There have always been a number of things you can do to get on the IRS’ bad side and (in the Christmas vernacular) their “naughty list.”  This article from Forbes is a great checklist of things you should never, ever, do when dealing with an IRS audit. Published by Tax Attorney Robert Wood in Forbes…

    Read More
     Chrisley knows best — except for taxes:<br><h2>Things Todd should  never tweet about</h2>
  • Get a 30 Percent Tax Credit for Residential Solar Panels:

    Act quickly if you want this credit

     Only a few months left to Claim a Tax Credit for Residential Solar Panels If you’ve decided that you want to go the Solar Energy route, here are some unique tax advantages to help pay for it. The 30 percent residential solar credit: drops to 26 percent for tax year 2020, drops to 22 percent…

    Read More
     Get a 30 Percent Tax Credit for Residential Solar Panels:<br><h2>Act quickly if you want this credit</h2>
  • Roth vs Traditional IRA – Which is better:

    We crunch the numbers and give you an answer to the raging debate

    Roth IRA versus Traditional IRA: Which Is Better for You?   I can’t think of a more heated tax debate than this topic has been over the years. This debate is akin to the feud between the Hatfields and McCoys, the Montague and Capulets, the Union and the South, etc. Accountants tend to be split…

    Read More
     Roth vs Traditional IRA – Which is better:<br><h2>We crunch the numbers and give you an answer to the raging debate</h2>
  • Red Alert – Data Breach:

    If you have a capital One Credit Card - Take some precautions

      Two years ago, we published this alert about the Equifax data breach and the steps you should take.  Today, it’s happened again! This time it’s about 100 million Capital One credit card application’s info that may be exposed. We’ll quote an article from PC World: “On Monday night, Capital One revealed that more than 100…

    Read More
     Red Alert – Data Breach:<br><h2>If you have a capital One Credit Card - Take some precautions</h2>
  • Numbers that we should remember

    There are many numbers (tax rates, investment percentages, etc.) that we like for clients to remember, but as we approach Independence Day, we ought to refocus on some numbers that are just as important. Our broker friends have provided them in the video below.

    Read More
    Numbers that we should remember
  • The US national debt:

    Should you care about it?

    Read More
  • Should you be paying “your fair share”:

    We destroy another tax myth with facts

    How taxes really work

    Read More
     Should you be paying “your fair share”:<br><h2>We destroy another tax myth with facts</h2>
  • Cliff notes of the new tax law:

    Our cheat sheet guide to tax reform

    Most clients don’t really need to know all the aspects of Tax Reform. But a quick reference guide can be helpful. From the new rules on alimony to 529 plans to mortgage interest limitations to meals and entertainment and the new 20% business income deduction – here’s the tip sheet you’ll want to print and keep…

    Read More
     Cliff notes of the new tax law:<br><h2>Our cheat sheet guide to tax reform</h2>
  • Where your money really goes!:

    It's not for food, clothing, and shelter!

    I’m putting this under the category of tax humor but, arguably, it’s not that funny.  There used to be a cliche that nothing has changed due to technology and that we still spend most of our income on food, clothing, and shelter. There is something that has grown faster than real estate costs or inflation. That’s the…

    Read More
     Where your money really goes!:<br><h2>It's not for food, clothing, and shelter!</h2>
  • Guarding your ID:

    Follow the link for ID security tips

    Guard your ID carefully. Here are some tips.

    Read More
     Guarding your ID:<br><h2>Follow the link for ID security tips</h2>
  • Charting the effects of tax reform on your return:

    Existing clients can get a free detailed report on the topics below

    Buckle your seat belt because the road to tax savings just got bumpier. We’ll be covering the major changes for tax year 2018 below. Existing clients can obtain a free detailed report on each area by clicking this link and referencing the phrase in the topic column in the subject line of your email.

    Read More
     Charting the effects of tax reform on your return:<br><h2>Existing clients can get a free detailed report on the topics below</h2>
  • What a difference a name makes!:

    Are you a dealer or investor? Here's how to tell the difference!

    How you define “Real Estate Investor” and “Real Estate Dealer” can make a huge difference in your taxes. Let’s take a look at how big a difference you can make in the tax bite. Say you have a $90,000 profit on the sale of a property. • Dealer taxes could be as high as $46,017. •…

    Read More
     What a difference a name makes!:<br><h2>Are you a dealer or investor? Here's how to tell the difference!</h2>
  • Does everybody really get a tax cut in 2018?:

    In almost all cases, the answer is yes!

    This is because the tax rates are less than in 2017 for every income bracket. Although there is always the exception the proves the general rule, here are the new reduced rates for tax year 2018. Existing clients are welcome to email us for an estimate of just how much savings you may realize.

    Read More
     Does everybody really get a tax cut in 2018?:<br><h2>In almost all cases, the answer is yes! </h2>
  • Questions from our clients on the new tax law:

    Free advice to actual client questions

    The following questions are ones that we get asked every week at this time of year. Below are the answers that factor in the new tax law that will affect the 2018 returns. Will I be able to save on taxes if I prepay my January 2019 mortgage bill before the end of the year in…

    Read More
     Questions from our clients on the new tax law:<br><h2>Free advice to actual client questions</h2>
  • From SCA to you:

    Happy Thanksgiving!

    From SCA to you

    Read More
     From SCA to you:<br><h2>Happy Thanksgiving!</h2>
  • Tax Reform in picture format:

    Our infographic explains 10 key elements of tax reform

    Read More
     Tax Reform in picture format:<br><h2>Our infographic explains 10 key elements of tax reform</h2>
  • IRS Amnesty Program ends September 28!:

    Non-reported foreign bank accounts will cost you dearly

    Warning- IRS penalty forgiveness for foreign bank accounts is about to expire! Although most clients are aware that earnings from a foreign bank account are reportable on a US citizen’s tax return they may not realize the danger of non-disclosure of foreign accounts – even if they produce no income! The various penalties run the gamut from 10,000…

    Read More
     IRS Amnesty Program ends September 28!:<br><h2>Non-reported foreign bank accounts will cost you dearly</h2>
  • A Tax Court decision you’re going to hate:

    Joint Returns Valid Despite Wife's Forged Signature

    Joint filing can save a lot of tax -except when it makes you guilty of your spouse’s fraud!

    Read More
     A Tax Court decision you’re going to hate:<br><h2>Joint Returns Valid Despite Wife's Forged Signature</h2>
  • Tax Reform in a Picture Format:

    10 Major areas of tax reform via our infographic

    Educators tell us that we retain knowledge better when it’s associated with pictures.  We’ve taken our Top Ten Items of Tax Reform for this week and created an infographic to help you better remember areas for 2018 tax planning. To discuss the specific impact on your own return, just email us for a projection of your…

    Read More
     Tax Reform in a Picture Format:<br><h2>10 Major areas of tax reform via our infographic</h2>
  • The worst IRS scam ever!:

    Don't fall for newest IRS scam

    Don’t fall for newest IRS scam

    Read More
     The worst IRS scam ever!:<br><h2>Don't fall for newest IRS scam</h2>
  • Tax Reform Strikes Again!:

    New tax provisions hidden in February budget bill

    Don’t shoot the messenger, but Congress has done it again!

    Read More
     Tax Reform Strikes Again!:<br><h2>New tax provisions hidden in February budget bill</h2>
  • How to use your 529 Plan for private high school education costs:

    Tax Reform opens a new door for your child's education

    Tax Reform opens a new door for your child’s education

    Read More
     How to use your 529 Plan for private high school education costs:<br><h2>Tax Reform opens a new door for your child's education</h2>
  • Freeloader Nation:

    Why you should give through a local charity

    Why you should work through a local charity

    Read More
  • Will you get a tax cut next year?:

    Take a look at how some of our clients will fare.

    Will you get a tax cut next year?

    Read More
     Will you get a tax cut next year?:<br><h2>Take a look at how some of our clients will fare.</h2>
  • Tax Reform progress – Part II:

    Congress battles to get an agreement by year end.

    It seems that, much like the Atlanta weather, if you don’t like today’s tax law -just hang on and it’ll be different next week.

    Read More
     Tax Reform progress – Part II:<br><h2>Congress battles to get an agreement by year end.</h2>
  • Tax Reform progress – as of today:

    Congress battles to get an agreement by year end.

    It seems that, much like the Atlanta weather, if you don’t like today’s tax law -just hang on and it’ll be different next week.

    Read More
     Tax Reform progress – as of today:<br><h2>Congress battles to get an agreement by year end.</h2>
  • From SCA to you:

    Happy Thanksgiving!

    From SCA to you

    Read More
     From SCA to you:<br><h2>Happy Thanksgiving!</h2>
  • New 2018 limits on deductions for retirement:

    Plan now for next year's larger amounts

    Plan now for next year’s larger amounts.

    Read More
     New 2018 limits on deductions for retirement:<br><h2>Plan now for next year's larger amounts</h2>
  • Equifax data breach:

    Find out if you are affected

    To check the likelihood of your data being breached, Click Here

    Read More
     Equifax data breach:<br><h2>Find out if you are affected</h2>
  • Special tax relief for Hurricane Harvey victims:

    IRS authorizes extended due dates and exceptions to retirement plan loans

    IRS provides relief from filing deadlines.

    Read More
     Special tax relief for Hurricane Harvey victims:<br><h2>IRS authorizes extended due dates and exceptions to retirement plan loans</h2>
  • As Shakespeare said:

    "Neither a borrower nor a lender be."

    As Shakespeare said . . . “Neither a borrower or a lender be.”

    Read More
     As  Shakespeare said:<br><h2>" width="542" height="312" />
  • Owe a large tax bill?:

    Say sayonara to your passport

    Say sayonara to your passport

    Read More
     Owe a large tax bill?:<br><h2>Say sayonara to your passport</h2>
  • Why a 1031 exchange is a great tax-planning idea

    Why a 1031 exchange is a great tax planning idea

    Read More
    Why a 1031 exchange is a great tax-planning idea
  • Ways to pay the IRS

    Sometimes, in spite of all the planning, you may wind up owing more than you expected to the IRS.

    Read More
    Ways to pay the IRS
  • The other tax date in April:

    April 1 could be the date you incur a tax of 50%!

    The other tax date in April – this one can cost you 50%

    Read More
     The other tax date in April:<br><h2>April 1 could be the date you incur a tax of 50%!</h2>
  • ID Theft and the IRS

    If you’ve been inconvenienced with the IRS assigning you a PIN you’ll be encouraged to know . . .

    Read More
    ID Theft and the IRS
  • Meet the entire IRA family:

    The members of this family are very different from each other.

    The members of the IRA family are very different from each other.

    Read More
     Meet the entire IRA family:<br><h2>The members of this family are very different from each other.</h2>
  • Hacking the code – what the 2016 tax law changes mean to you

    What the 2016 tax law changes mean to you.

    Read More
    Hacking the code – what the 2016 tax law changes mean to you
  • Are some of your deductions dying?:

    Here are some popular deductions that will die on 12/31/16

    Here are some popular deductions that will die on 12/31/16

    Read More
     Are some of your deductions dying?:<br><h2>Here are some popular deductions that will die on 12/31/16</h2>
  • Tax Planning for the new year

    Tax Planning for the new year.

    Read More
    Tax Planning for the new year
  • Why you should care about corporate inversions:

    Here's the real reason that companies leave American soil and what it costs you!

    Here’s the real reason that companies leave American soil and what it costs you!

    Read More
  • Year-end Tax Planning

    How to save taxes with year-end planning.

    Read More
    Year-end Tax Planning
  • Identity theft – It may be a matter of when, not if.

    What to do if you’re the victim of ID theft. Take these steps asap.

    Read More
    Identity theft – It may be a matter of when, not if.
  • Trump-etting the new tax law

    How a new President may change the tax laws.

    Read More
    Trump-etting the new tax law
  • Can you deduct your rental losses?:

    in tax matters, the answer is "it depends."

    Can you deduct the loss on your rental property? Here’s the answer.

    Read More
     Can you deduct your rental losses?:<br><h2>in tax matters, the answer is " width="240" height="240" />
  • The Electoral College – should we eliminate it?:

    Watch the video to learn the history and purpose the Founding Fathers had for the EC:

    Doe the EC still serve a useful purpose? The answer is surprising!

    Read More
     The Electoral College – should we eliminate it?:<br><h2>Watch the video to learn the history and purpose the Founding Fathers had for the EC:</h2>
  • Scary tax personel:

    Watch out for these tax monsters on Halloween!

    Watch out for these tax monsters on Halloween!

    Read More
     Scary tax personel:<br><h2>Watch out for these tax monsters on Halloween!</h2>
  • Every 100 years or so . . .

    Confused about the Obamacare shared responsibility payments? Here’s help.

    Read More
    Every 100 years or so . . .
  • The problem with Social Security:

    it's based on simple math

    The problem with social security . . .

    Read More
     The problem with Social Security:<br><h2>it's based on simple math</h2>
  • Moving expenses:

    only certain types of expenses can be deducted

    Only certain types of moving expenses are deductible. Here’s an overview.

    Read More
     Moving expenses:<br><h2>only certain types of expenses can be deducted</h2>
  • How the new President’s tax plan will affect your wallet:

    enter your income and see what you'll pay.

    Plug in your income and compare the Presidential tax plans.

    Read More
     How the new President’s tax plan will affect your wallet:<br><h2>enter your income and see what you'll pay.</h2>
  • IRS Funding under fire:

    Congress to cut budget by 236 million dollars

    The IRS was in damage control mode Tuesday after an audit revealed that it paid bonuses to employees who were in trouble over tax issues themselves.

    Read More
     IRS Funding under fire:<br><h2>Congress to cut budget by 236 million dollars</h2>
  • A tax break for Seniors:

    Sometimes Congress actually gets something right.

    Sometimes Congress actually gets something right! This happens so rarely that I wanted to write a special blog post on it. Clients who have followed our advice over the years tend to retire with no mortgage debt and few out-of-pocket medical expenses. This leaves their charitable contributions as the main source of itemized deductions to…

    Read More
     A tax break for Seniors:<br><h2>Sometimes Congress actually gets something right.</h2>
  • A tax shelter like no other:

    This is the only tax entity that is pretax on money in and out!

    The only tax shelter that you can deduct contributions and not be taxed on distributions.

    Read More
     A tax shelter like no other:<br><h2>This is the only tax entity that is pretax on money in and out!</h2>
  • Freedom in Georgia declines by 25%:

    Tax Freedom Day update

    Just how free are you? It may depend on where you live.

    Read More
     Freedom in Georgia declines by 25%:<br><h2>Tax Freedom Day update</h2>
  • Did you think the 50% tax rate was gone?:

    April 1 could be the date you incur a tax of 50%!

    The other tax date in April – this one can cost you 50!

    Read More
     Did you think the 50% tax rate was gone?:<br><h2>April 1 could be the date you incur a tax of 50%!</h2>
  • Don’t let your deduction get washed out:

    How the "wash sale" rules can cancel your current year write-off!

    How the “wash sale” rules can cancel your current year write-off

    Read More
     Don’t let your deduction get washed out:<br><h2>How the " width="542" height="312" />
  • What simple math can tell you about Social Security:

    another reason to save and invest well!

    You don’t have to be a genius to know what simple math ratios indicate is happening to social security. Just take a look at the chart below, and you’ll know why you can’t trust Social Security exclusively for your retirement. Planning now is always better than panicking later. Remember that we’re just a click away…

    Read More
     What simple math can tell you about Social Security:<br><h2>another reason to save and invest well!</h2>
  • If you win the powerball lottery . . .:

    which state will tax you the most?

    If you win the powerball . . . how much state tax is due?

    Read More
     If you win the powerball lottery . . .:<br><h2>which state will tax you the most?</h2>
  • The long, long, arm of Uncle Sam:

    how the Fed redistributes your income

    How the government redistributes your income

    Read More
     The long, long, arm of Uncle Sam:<br><h2>how the Fed redistributes your income</h2>
  • Does it ever pay to be just average?:

    Sometimes it's ok to be average.

    Here are the average tax deductions by income level according to the IRS

    Read More
     Does it ever pay to be just average?:<br><h2>Sometimes it's ok to be average.</h2>
  • Now you see it . . .now you don’t:

    How Congress is making last year's deductions disappear

    A magic trick by Congress!

    Read More
     Now you see it . . .now you don’t:<br><h2>How Congress is making last year's deductions disappear</h2>
  • A Planning Tool for 2016 and beyond:

    Make sure that you've utilized your retirement plan to the max!

    Confused about the tax tools for retirement planning? Here’s some help.

    Read More
     A Planning Tool for 2016 and beyond:<br><h2>Make sure that you've utilized your retirement plan to the max!</h2>
  • No good deed (or charitable donation) goes unpunished

    In the case of non-cash charitable gifts you need to be careful not to fall into several tax traps that may limit your deduction.

    Read More
    No good deed (or charitable donation) goes unpunished
  • Christmas gifts and the Federal Gift Tax:

    how to use gifting to the max

    During the season of giving, you can (tax-wise) accomplish some effective giving as well.

    Read More
     Christmas gifts and the Federal Gift Tax:<br><h2>how to use gifting to the max</h2>
  • Our Christmas gift to clients – more deductions for year end!:

    how to obtain a deduction for items paid next year

    Well . . . it’s technically not a “gift” but it will help you lower your taxable income for 2014.

    Read More
     Our Christmas gift to clients – more deductions for year end!:<br><h2>how to obtain a deduction for items paid next year</h2>
  • Remembering Veteran’s Day:

    see below for a list of tax advantages for those who have served their country:

    Tax advantages just for veterans

    Read More
     Remembering Veteran’s Day:<br><h2>see below for a  list of tax advantages for those who have served their country:</h2>
  • Forget about Halloween: here’s something that’s truly scary!

    One of the scariest things you’ll ever see.

    Read More
    Forget about Halloween: here’s something that’s truly scary!
  • Why it’s good to be number 44 out of 50:

    Georgia ranks among the lowest in debt per capita

    Georgia ranks among the lowest in debt per capita

    Read More
     Why it’s good to be number 44 out of 50:<br><h2>Georgia ranks among the lowest in debt per capita</h2>
  • Your most important job:

    whether owner or employee, this is the most important thing you do

    It may be a speech for your product or service, or just to promote the goodwill of your company – but it’s important to do it well.

    Read More
  • Ways to get money out of your IRA:

    WITHOUT paying the 10% penalty

    Need money from your IRA but want to avoid the 10% penlalty?

    Read More
     Ways to get money out of your IRA:<br><h2>WITHOUT  paying the 10% penalty</h2>
  • May-June marriages can bring April tax bills:

    We explain the tax-related "marriage penalty."

    Combining two incomes may more than double your tax bill! Here’s how to fight back.

    Read More
    " class="themeblvd-lightbox mfp-image tb-thumb-link slide-thumbnail-link image"> May-June marriages can bring April tax bills:<br><h2>We explain the tax-related " width="542" height="312" />
  • If you paid a penalty for no insurance coverage in 2014:

    then you're going to be really unhappy in 2015

    Expect Obamacare penalties to get worse next year.

    Read More
     If you paid a penalty for no insurance coverage in 2014:<br><h2>then you're going to be really unhappy in 2015</h2>
  • Free at last! Free at last!:

    Tax Freedom Day update

    Just how free are you? It may depend on where you live.

    Read More
     Free at last! Free at last!:<br><h2>Tax Freedom Day update</h2>
  • IRS-Based Scams

      IRS internet scams are famous (or infamous) and have been around a long time. The post below is a warning of these e-mail and call scams that we published months ago.    However, among professional con men there’s an old saying – “there’s no scam like an old scam.” What they mean by this…

    Read More
    IRS-Based Scams
  • IRS approves April 2015 deduction on your 2014 return::

    Donations to slain Police Officer's families can be backdated on your tax return.

    Donations to slain Police Officer’s families can be backdated to 2014.

    Read More
     IRS approves April 2015 deduction on your 2014 return::<br><h2>Donations to slain Police Officer's families  can be backdated on your tax return.</h2>
  • Are you a “real estate professional”?

    During tax season, we get a lot of questions about the deductibility of rental real estate losses. There is not a single “sound bite” type of answer as it can depend upon your income level, type of property, and the degree to which you share in the management responsibilities.

    Read More
    Are you a “real estate professional”?
  • “To Sell or Not to Sell -that is the question.” – William Shakespeare [edited]:

    "The tax rate can be mightier than the sword."

    Although we don’t give investment advice, we thought a simple math formula that helps you maximize your stock gains might be useful.

    Read More
    " target="_self" class="tb-thumb-link slide-thumbnail-link post"> “To Sell or Not to Sell -that is the question.” – William Shakespeare [edited]:<br><h2>" width="350" height="312" />
  • How to E-Sign your individual tax return:

    It's quick and easy

    How to E-Sign your individual tax return

    Read More
     How to E-Sign your individual tax return:<br><h2>It's quick and easy</h2>
  • Myths about Taxable Income:

    What you don't know can hurt you (a lot).

    My Social Security benefits aren’t taxable. Depending on the amount of other income that a taxpayer has to report, their benefits may be taxable – but the maximum amount of Social Security benefits that must be included is 85 percent. I don’t need to report stock sales if I bought other stocks with the proceeds.…

    Read More
     Myths about Taxable Income:<br><h2>What you don't know can hurt you (a lot).</h2>
  • Why tax year 2014 requires more work:

    New Obamacare requirements

    In March, 2010. President Obama signed the Affordable Care Act. One provision of the Act required that in 2014 all Americans must have qualified health insurance or face a “Shared Responsibility Payment,” more commonly known as the Health Care Penalty. A lesser known amendment to the Act allowed insurance providers and large employers a one-year…

    Read More
     Why tax year 2014 requires more work:<br><h2>New Obamacare requirements</h2>
  • Working outside the USA? Don’t forget about these IRS requirements!

    You may still have to file a tax return if you live outside the United States and maintain your US citizenship.

    Read More
    Working outside the USA? Don’t forget about these IRS requirements!
  • Our Christmas gift to clients – more deductions for 2014!

    Well . . . it’s technically not a “gift” but it will help you lower your taxable income for 2014.

    Read More
    Our Christmas gift to clients – more deductions for 2014!
  • A Year-End tip that always helps in tax planning

    All of our existing clients have access to our SCA Secure client portals at no additional charge.

    Read More
    A Year-End tip that always helps in tax planning
  • Christmas gifts and the Federal Gift Tax

    During the season of giving, you can (tax-wise) accomplish some effective giving as well.

    Read More
    Christmas gifts and the Federal Gift Tax
  • Thanksgiving Items

    Our clients are some of the most grateful people we know. It seems appropriate on this holiday to document the things that we’re most thankful for and the persons responsible for them. We’re always thankful for you, our clients, and look forward to serving you in 2015! Feel free to use our form below to…

    Read More
    Thanksgiving Items
  • No good deed (or charitable donation) goes unpunished

    In the case of non-cash charitable gifts you need to be careful not to fall into several tax traps that may limit your deduction.

    Read More
    No good deed (or charitable donation) goes unpunished
  • Haven’t filed a return for a few years? Here’s some options that you can use.

    Haven’t filed a return for a few years? Here’s how to start.

    Read More
    Haven’t filed a return for a few years? Here’s some options that you can use.
  • Who gets your Roth-IRA money? (Part IV of Keeping it All in the Family)

    Who gets the money from a ROTH-IRA?

    Read More
    Who gets your Roth-IRA money? (Part IV of Keeping it All in the Family)
  • Roth-IRAs demand equal time! (Keeping it all in the family Part III)

    Here are the answers to the two most often asked questions we get on the subject of Roth accounts.

    Read More
    Roth-IRAs demand equal time! (Keeping it all in the family Part III)
  • The other side of the coin

      After 172 posts and 81 pages written and published on our site, nothing has drawn the reaction of this post entitled Who pays the Federal Income Tax. Given that the stats quoted were from the IRS, you’d think that no one could argue about an empirical fact (the top 10% pay over 70% of…

    Read More
    The other side of the coin
  • Uploading your data with SCA secure

    With our encrypted portals uploading your data couldn’t be much safer or much easier. Have a look as one of our clients uploads tax information to us. It’s safe, quick, and easy! Steps demonstrated in the video Login Click on File Exchange in left sidebar Click on the Upload Data folder Click the Upload icon…

    Read More
  • Executive Summary of Timeline for Obamacare provisions

    Editor’s Note: There have been substantial changes in the ACA law since we published this post. See our current newsletter for updated information. The Cliff Notes version (detailed explanation below) 2010 – 2011 Small business tax credit Adult dependent insurance coverage Return information disclosure Restrictions on use of HSA and FSA funds 2012 Information reporting…

    Read More
    Executive Summary of Timeline for Obamacare provisions
  • Can the “Fonz” drive in reverse?

    Henry Winkler (a/k/a “The Fonz” on the Happy Days TV series) can be currently seen on television advertising for senior citizens to sign up for a reverse mortgage. Before you can make a financial decision on anything, you need to know: How does it work, and How does it help (or hurt) me financially? How…

    Read More
    Can the “Fonz” drive in reverse?
  • What our email footer really means!

        IRS Circular 230 Disclosure – What Does all the legalese really mean?   Our SCA team prides itself in looking after each client’s tax affairs as if they were our own. We leave no tax deduction aside you’re legally entitled to take. Reliance on professional advice has usually been the only thing required…

    Read More
    What our email footer really means!
  • When we say it’s secure – we mean it!

    We talk a lot about the importance of keeping your data secure.  Three years ago we offered our SCA secure portals which use a transparent 256bit encryption. The problem is that most of us don’t take our computer with us when we visit our banker or stockbroker. To fix this inconvenience for our clients, we’ve…

    Read More
    When we say it’s secure – we mean it!
  • When it’s OK to be average

    Here are the average deductions, by level of income, based on the latest available IRS stats. The following are preliminary figures released by the IRS (their reports lag behind the current tax year because of the time needed to compile figures). These are averages only. [Editor’s note: Remember that there is no “average” amount that…

    Read More
    When it’s OK to be average
  • What’s my tax rate? Here’s why that can be a hard question.

    Clients are sometimes surprised that we need to call them back with an answer to the above question. The chart below explains why this can require some analysis to answer. On this client’s 2013 return, he has encountered no less than six rate structures. Since you can’t effectively plan without knowing your real marginal rate,…

    Read More
    What’s my tax rate? Here’s why that can be a hard question.
  • Can you deduct the cost of a Skybox used for business entertainment?

      The answer is yes – for the most part. Here’s a letter we wrote to a client explaning how this works. Dear [name redacted] You’ve asked us to review the tax limitations on  deducting the expenses of renting a skybox or other private luxury box at a sporting event. Skybox rentals are subject to…

    Read More
    Can you deduct the cost of a Skybox used for business entertainment?
  • Areas for Tax Planning in 2014 & 2015

    A visual summary of Tax Planning areas for 2014

    Read More
    Areas for Tax Planning in 2014 & 2015
  • DIY tools and why you may not want to use them.

    If you’re the DIY (do it yourself) type, here are the tools.

    Read More
    DIY tools and why you may not want to use them.
  • Sticker shock awaits many clients on their 2013 tax return

    Many folks will get a severe case of sticker shock in 2013. Here’s why.

    Read More
    Sticker shock awaits many clients on their 2013 tax return
  • Beware of these (alleged) IRS E-Mails

    Among professional con men there’s an old saying – “there’s no scam like an old scam.” What they mean by this is that the basic appeal of the con is the same although the technology to deliver the scam may improve. Nowhere is this more true than with scams that appear to be emails from the…

    Read More
    Beware of these (alleged) IRS E-Mails
  • IRS magic tricks – Deductions that will disappear on December 31!

    Certain deductions are scheduled to vanish in 2014!

    Read More
    IRS magic tricks – Deductions that will disappear on December 31!
  • What’s in a name? Let’s ask IRS!

    Figures don’t lie but IRS Commissioners do.

    Read More
    What’s in a name? Let’s ask IRS!
  • Identity theft – IRS posts thousands of social security numbers on its website!

    We give you the steps to combat the ever-present danger of ID Theft

    Read More
    Identity theft – IRS posts thousands of social security numbers on its website!
  • New Home Office rules for 2013 – IRS makes it easier to calculate the deduction.

    Calculating the home office deduction just got easier in 2013

    Read More
    New Home Office rules for 2013 – IRS makes it easier to calculate the deduction.
  • Happy 100th Birthday – Not! A taxing history of the US

    This year marks the tax code’s 100th birthday. So-what do you get for the Tax Code that has (quite literally) everything under the sun already?

    Read More
    Happy 100th Birthday – Not!  A taxing history of the US
  • How much will Social Security pay me when I retire?

    How much will Social Security pay you at retirement? Our chart will give you an answer.

    Read More
    How much will Social Security pay me when I retire?
  • Why you’ll pay more tax in 2013 and beyond

    A timeline for some of the new taxes in the President’s 2014 budget and Obamacare

    Read More
    Why you’ll pay more tax in 2013 and beyond
  • IRS, Star Trek, and Gilligan’s Island

    See the Star Trek and Gilligan’s Island parody videos that cost $70,000 of the taxpayers’ money

    Read More
    IRS, Star Trek, and Gilligan’s Island
  • Why Mark Zuckerberg really hates April 15

    If you’re dreading April 15 due to a big tax bill- it could be worse. Facebook’s IPO made founder Mark Zuckerberg a billionaire — but left him with a tax bill likely to top $1 billion. Here’s the story from the CNN news feed. Facebook’s stock market debut left founder and CEO Mark Zuckerberg with a…

    Read More
    Why Mark Zuckerberg really hates April 15
  • Simple in Six – How to enter Excel data just one time!

    Do you ever get frustrated formatting a yearly spreadsheet and then entering data in 12 tabs for monthly projections, budgets,etc? What’s really irritating is when something has to be added and you’re faced with 12 tabs to update.  Thanks to Excel expert Tom Fragale (@PhillyTom), we have a way to enter your data just once…

    Read More
    Simple in Six – How to enter Excel data just one time!
  • Tax Advice for Valentine’s Day

    This is one of our older posts, but it’s still good advice!

    Read More
    Tax Advice for Valentine’s Day
  • Can you guess what’s coming next?

    Laura Saunders has a great exercise in predictive logic in the tax section of the Wall Street Journal. Most clients’ largest tax benefit may soon be under attack if she’s right! ” When you receive your W-2 for 2012, pay attention to a surprising new number on the form, especially if you are an upper-income-bracket taxpayer.…

    Read More
    Can you guess what’s coming next?
  • How to add forms to your tax organizer

    I’ve always liked being able to substitute items on a restaurant menu. That way you get exactly what you want. Why should your tax organizer be any different? Although the organizer is customized based upon your prior year return, things can often change from last year. If you switched jobs, opened a new brokerage account, opened a new Health…

    Read More
    How to add forms to your tax organizer
  • When does it pay to be average?

      Sometimes being average is not a bad thing. The data below (for illustrative purposes only) shows what the IRS has calculated as average deductions by income level. When a tax return varies too far from the average, something called a DIF ( Discriminant Income Function) score flags the return for audit. However, IRS  uses more…

    Read More
    When does it pay to be average?
  • Time running out for a do-over on your IRA distribution!

    As our golfer friends say, time is running out for a mulligan on any IRA distributions that were required by 12/31/12. The fiscal cliff law signed by the President on January 2 has a retroactive provision that could help you out of a jam if you forgot to take a RMD (required minimum distribution) from…

    Read More
    Time running out for a do-over on your IRA distribution!
  • Planning or Just Playing Scrabble?

      Retirement Planning – it’s more than a game of scrabble?   Some of the 2013 retirement plan limits have changed. Good planning involves trying to max out these amounts every year. Stop playing a game of scrabble with your retirement and hoping for some lucky tiles to come your way. We can help you determine how much…

    Read More
    Planning or Just Playing Scrabble?
  • Unlucky 4 digit numbers

    Certain numbers can be unlucky for filing your tax return for 2012. Some of the 4 digits that are guaranteed to delay filing of your return until late February or even March are 3800, 4562, 5695 ,8582 to name just a few. We’re not getting these from a Chinese fortune cookie, but from the IRS website. Seems…

    Read More
    Unlucky 4 digit numbers
  • IRS releases revised E-File date

    You may remember our post a few weeks ago where the IRS predicted that the fiscal cliff may cause filing delays until the end of March for complex returns.  Due to a semi-solution by Congress, we now have IRS confirmation that January 30 is approved as the first day for E-Filing. Advanced returns will still be…

    Read More
    IRS releases revised E-File date
  • A Cliff Notes Summary of the Fiscal Cliff Law

    We’ve reviewed the 157 page sorry excuse for a err I mean problem-solving bill Congress passed last night. Sorry that it is (raises taxes, but no spending cuts to speak of), we at least have an idea of what’s coming in 2013. Here are the main (but not all)  areas that will effect your return…

    Read More
    A Cliff Notes Summary of the Fiscal Cliff Law
  • The AMT monster is coming! See video below.
    Read More
    The AMT monster is coming! See video below.
  • If you read nothing else this year . . .

    be sure to read our letter to clients on how to plan for 2013. This link will take you there.   See the effect on your family in 2013 (Click Here) or use our fiscal cliff calculator with the numbers from your 2011 return. 

    Read More
    If you read nothing else this year . . .
  • IRS to Washington – Get your act together or no returns processed until March

    You have to admire one thing about acting IRS Director Steve Miller. As the head of IRS, he warned Congress that certain tax returns will not be processed until March of 2013.  Why make this threat? Because twice in the past when the AMT patch has expired, it has been reinstated retroactively. The IRS made…

    Read More
    IRS to Washington – Get your act together or no returns processed until March
  • The fiscal cliff effect by age groups

    Whether you are single, married, working your way through college, or settled in your career. This infographic from today’s Wall Street Journal shows the financial loss you’ll feel in 2013. Begin your tax planning now to avoid a painful new year. Be aware that these are averages. Your tax effect may be larger. [Be sure to click…

    Read More
    The fiscal cliff effect by age groups
  • For advanced clients only

    For our clients who have advanced knowledge of the dangers starting January 1 (to join this group, Click Here and read the section of fiscal cliff articles) we offer a “Cliff Notes” version of the individual effects of the fiscal cliff. You can access this summary graphic by clicking this link. Remember there’s still plenty…

    Read More
    For advanced clients only
  • The fiscal cliff in graphic form

    Hollywood’s Friday the 13th and Freddy Kruger can’t begin to compare to how scary this picture promises to be. Coming to a country (very) near you on January 1, 2013. Clients can E-mail us for a special video presentation with specific details on what’s involved. We’ve also compiled a listing of helpful articles which can…

    Read More
    The fiscal cliff in graphic form
  • Specific info on the Fiscal Cliff

      Detailed information of the peaks and valleys of the Fiscal Cliff Our last newsletter (see this link) contained general information and warnings about the financial and tax disaster referred to by the media as the “fiscal cliff.” We’ve been deluged with requests for more specific details on the effects of this scheduled legislation. Remember,…

    Read More
  • The Dark Knight vs. H&R Block

    Bruce Wayne (aka Batman) may be out to get Block (H & R), not the villainous Bain. Seems like  H&R  did a tax return comparison between the  wealthy  Mr. Wayne and a competing super-hero and made a 17- million- dollar mistake on his tax projection. In the first calculation (now pulled from their website) Block had Bruce Wayne reducing…

    Read More
  • Is there a way to deduct my political donation?

      Is there a way to deduct a political donation?  The answer may surprise you.     More than most tax questions, the answer to this one really is – “It depends.” It depends upon whether the  donation was given to: a social welfare  group, a trade association, a PAC, a so-called Super PAC, or…

    Read More
    Is there a way to deduct my political donation?
  • Breaking tax news for 2013!

    IRS just announced the new (and higher) limits on 401(k) plans etc. Here’s a summary for use in 2013 tax planning.   The  inflation-adjustments for 2013 include: Gift Tax Exemption:  $14,000 (up $1,000 from 2012) Contribution Limit for 401(k)/403(b)/457 Plans:  $17,500 (up $500 from 2012) Catch-Up Contribution Limit (Age 50+) for 401(k)/403(b)/457 Plans:  $5,500 (same as 2012)…

    Read More
  • A Tale of Two Tax Plans

    With apologies to Charles Dickens, here’s an easy to understand graphic of how the upcoming tax plans measure up. Source: www.backtaxeshelp.com

    Read More
  • Back to School, Back to Practice: What You Need to Know About Your Insurance as a Volunteer Coach

    As children return to school across the country, families know that can also mean a return to the practice field, whether through school sports teams or community sports programs and often parents may find themselves on the sidelines as a volunteer coach. It can be especially rewarding to teach children the skill sets of a…

    Read More
  • How to avoid payroll taxes

    Wouldn’t it be helpful with your company’s cash flow if you could just not remit the social security and medicare withholding taxes? We don’t recommend this as a strategy but, according to the US Inspector General, it’s working pretty well for some Federal agencies. These Federal agencies owe over 14 million of back payroll taxes…

    Read More
  • The Anti-Investment tax of 2013! We explain how and when it applies.

    CPA gives 3 minute summary of the new Medicare tax

    Read More
  • Do corporations have to issue 1099s?

    As with most tax questions it depends. Although (as a general rule) corporations are exempt from this requirement, there are some exceptions. See the list below and be sure to E-Mail us if questions. Reportable payments to corporations. The following payments made to corporations generally must be reported on Form 1099-MISC. Medical and health care payments…

    Read More
  • Just what a sagging stock market needs to recover

    Let’s have a 289% increase on dividend earnings. That’ll really make people want to [sarcasm intended] buy into American business. Actually, there is nothing that will damage the market performance worse than this. If you own investments and would like them to increase in value, I’d make my voice known on this.

    Read More
  • Who really pays their “Fair Share” -Part II

    Looks like the argument for the rich paying their “fair share” is getting weaker and weaker. Hover your mouse over the chart to see the graphic proof of who really pays their fair share-Part I. Facts are stubborn things and the fact is that the top 5% of earners have gone from shouldering about 28%…

    Read More
  • Who really pays the Income Tax?

    I get asked this question almost every week. Here’s some helpful stats from our friends at the National Taxpayer’s Union. Remember this question. If a quarter of the income paying almost 90% of the tax bite is not “Fair”, then what is Fair? 98%? 115% Pro-rata cuts benefit all taxpayers equally – and that’s as…

    Read More
  • Think your CD rates are bad? How about a French T-Bill with negative interest?

    We always like to look at the positive side of things. As bad as CD rates in the US are for investors, you could have to deal with  French T-Bills which sell at a negative interest rate! I know that’s hard to believe, but here’s the AP news release: “. . . France, the No.…

    Read More
  • Some folks will see a 74% increase in the tax rates in 2013-(from the WSJ)

    We’re not kidding about the higher part as the new capital gain rates (remember the “capital” in capitalism). Just put your mouse over the picture to see proof that capital gains could go as high as 25% in 2013 ( a 67% increase)! The Wall St Journal says it best in their July 2, 2012…

    Read More
  • Will Smith becomes a capitalist

    The text of this conversation is printed below. Will Smith: I have no issue with paying taxes and whatever needs to be done for my country to grow. I believe very firmly that my ability to sit here—I’m a black man who didn’t go to college, yet I get to travel around the world and…

    Read More
  • If we did Financial Statements like the White House and Congress . . .

      We would simply overstate your net income by 384%!   Not surprisingly, the White House and Congress speak of the yearly deficit in amounts of 1.3 trillion.  However, if we use the same accounting rules that your business and my business are required to follow, the numbers change to roughly 5 trillion. Most financial…

    Read More
  • How “Qualified” are your relatives?

      One of the tests to claim a dependent is that the person must be a qualifying child or relative.  Like most things with IRS, the meaning of their terms is never simple.  Here are some of the tests used to qualify your dependent as a write-off. Tests To Be a Qualifying Child Tests To…

    Read More
  • Downside of Online: Cyber Crime & Stolen Data

        by Rick Viall (Guest Editor)    How safe is private information when stored electronically?   You may not want to know the answer to that question. But if you’re just a bit curious, consider visiting privacyrights.org/data-breach. The site allows you to scroll through a frequently updated chronological list of reported breaches of private…

    Read More
  • Let the rich guys pay this tax bill

    Why wouldn’t we let them pay?  The non-payers (but still voters) have almost reached 51%  

    Read More
  • Intuit solves the wrong problem with a new Quickbooks option

    For clients using Quickbooks, here’s a useful tip from one of our most trusted sources for software training. The instructors at K2 Enterprises will walk you through the process of limiting your Quickbooks data file to the current year. This will make QB run faster and more efficiently, but this does not solve the IRS…

    Read More
  • Does Volunteering Your Time Mean Volunteering Your Insurance?

    by Guest EditorRick Viall  rviall@viallins.com Millions of Americans donate time—their most valuable asset—to serve as a volunteer board member on non-profits, booster clubs, churches, PTAs and civic organizations, just to name a few. The decisions these folks make can have a dramatic impact on their respective organization—and not always for the better. If a volunteer…

    Read More
  • Downside of Online: Cyber Crime & Stolen Data

    by Guest EditorRick Viall  rviall@viallins.com How safe is private information when stored electronically? You may not want to know the answer to that question. But if you’re just a bit curious, consider visiting privacyrights.org/data-breach. The site allows you to scroll through a frequently updated chronological list of reported breaches of private data. Some data are…

    Read More
  • Sounds too Good to be True: Downloading Illegal Music

    by Guest EditorRick Viall  rviall@viallins.com Remember the days of curling up to the radio on a Saturday night, torturing yourself through commercials and lame tunes just to be able to crank it when Mr. DJ played your favorite song? No longer does one require the patience to spend an entire evening anticipating the next round…

    Read More
  • Customer no-service from IRS gets even worse!

    As if things weren’t bad enough, now the less-than-sterling level of IRS service just got worse. It’s not just my opinion, check out this eye-opening article from “Forbes.”    IRS Gone Bad: Are Things About to Get Even Worse?   The details aren’t all that important. Basically, I called the IRS to discuss a client’s tax…

    Read More
  • Special Tax Deductions for Special Education via the WSJ

    This Wall Street Journal Article contains a good overview of the tax breaks available for special education costs. “More than six million children in the U.S. fall into the “special needs” category, and their ranks are expanding. The number of those affected by one developmental disability alone—autism—grew more than 70% between 2005 and 2010. The…

    Read More
    Special Tax Deductions for Special Education via the WSJ
  • Why annuities may not be a good fit for senior citizens

      This article highlights difficulties that some senior citizens have had with annuities.    Arizona seniors lost millions in annuity fees, lawsuits say  Lawsuits highlight risks for elderly of investment choices   by Robert Anglen – Nov. 7, 2011 12:00 AM-The Arizona Republic   Hundreds of Arizona senior citizens cashed in their retirement investments and paid millions of dollars in unnecessary fees,…

    Read More
  • The theory of relativity is in the tax code

    This is not the theory discovered by Einstein, but the one that states that certain tax advantages may be disallowed if you sell an asset to someone (or a company) that the tax code calls  a “related party.” Simply put, selling a capital asset at a loss to any of the following entities will cause the loss…

    Read More
    The theory of relativity is in the tax code
  • Even Rodney may need an advanced degree to understand this.

    Not only are there several different types of tax credits and deductions for education, but   they can vary according to status within college (Freshman,Senior, etc.) and your level of income. This article from the Wall Street Journal gives a basic overview of what’s available.     As always, contact us before acting on this or any tax credit. …

    Read More
    Even Rodney may need an advanced degree to understand this.
  • What you can learn by adding (and subtracting) 8 zeros

    Putting things into perspective by removing 8 zeros  It’s amazing what simple math can show: An analysis of the numbers below reveals why the average household budget is far better managed than the budget in Washington!      -Why S&P downgraded  the US credit rating • U.S. Tax revenue: $2,170,000,000,000 • Fed budget: $3,820,000,000,000 •…

    Read More
    What you can learn by adding (and subtracting) 8 zeros
  • What could happen without a Will?

    Sadly, this could be the legacy you leave to your heirs. Think about the results this would produce and then email us for some solutions. What Happens With No Will? LAST WILL AND TESTAMENT OF JOHN DOE (WHO DIED WITHOUT A WILL) I, John Doe, of Nimrod, Missouri, hereby do make, publish and declare this…

    Read More
  • The one time that it’s good to be average

    Here are the average deductions, by level of income, based on the latest available IRS stats. Average Itemized Deductions         Adjusted Gross Income Medical Expenses Taxes Interest Charitable Contributions $15,000 to $30,000 $7,074 $3,147 $9,245 $2,189 $30,000 to $50,000 $6,153 $3,830 $9,055 $2,189 $50,000 to $100,000 $7,102 $6,050 $10,659 $2,693 $100,000 to…

    Read More
  • Planning for the unexpected in the chess game of Life

    A Will to Live by It’s never too early to make a living will. Have you started one? By Rosemary Carlson • Bankrate.com [Breaking news- The Georgia State Bar has made available a free sample medical directive for your use. E-mail us for a free copy.] It could happen at any time. Walk across the street and…

    Read More
    Planning for the unexpected in the chess game of Life
  • Can you deduct more than you paid for something?

    Most of the time we’re stuck with tax cost being what we paid for a stock, asset, real estate, etc… but sometimes this can change.

    Read More
    Can you deduct more than you paid for something?
  • Thanksgiving Items

    Thanksgiving Items

    Our clients are some of the most grateful people we know. It seems appropriate on this holiday to document the things that we’re most thankful for and the persons responsible for them. We’re always thankful for you, our clients, and look forward to serving you in the coming year!

    Read More
  • Do you receive Social Security, Civil Service, or VA Benefits:

    There's some good news and some bad news

     Do you receive Social Security, Civil Service, or VA Benefits:<br><h2>There's some good news and some bad news</h2>

    From one of our Elder-Law attorney friends Ira Leff As the old joke goes, there’s good news and bad news…   The good news is that your Social Security, Civil Service, and V.A. benefits are going up in January by 1.3 percent. So, if you are currently receiving $1,000 per month gross income, starting in…

    Read More
  • The Electoral College – should we eliminate it?:

    Watch the video to learn the history and purpose the Founding Fathers had for the EC:

     The Electoral College – should we eliminate it?:<br><h2>Watch the video to learn the history and purpose the Founding Fathers had for the EC:</h2>

    Doe the EC still serve a useful purpose? The answer is surprising!

    Read More
  • An Extra 100 days of Medicare Coverage:

    Covid extends skilled care timeline

     An Extra 100 days of Medicare Coverage:<br><h2>Covid extends skilled care timeline</h2>

    Most of our clients who are elder-care providers are aware of the 100 days of skilled care (Nursing Home Coverage) that Medicare will provide. Due to the COVID crises, an extension of this timeline is available. Elder-Law Attorney Ira Leff describes this in detail on his website. The summary below is reprinted with permission from…

    Read More
  • Should you move to a state without income tax?:

    We examine the factors your should consider

     Should you move to a state without income tax?:<br><h2>We examine the factors your should consider</h2>

    If you’re considering moving to a different state, taxes in the new state may be the deciding factor—especially if you expect them to be lower. Consider All Applicable State and Local Taxes If your objective is to move to a lower-tax state, it may seem like a no-brainer to move to one that has no…

    Read More
  • Facts about IRS and Forfeiture of Assets

    Facts about IRS and Forfeiture of Assets

    When you get two tax attorneys discussing how IRS can take your assets before you are even accused of a crime, it gets my attention. As our guest speaker attorney Kelly Phillips says, “Due process is a fundamental Constitutional right.” You may feel like you’re in a law school class, but the audio below is…

    Read More
  • The most oft-asked question about stimulus checks

    The most oft-asked question about stimulus checks

    Q: What if you had extra one-time income (an IRA withdraw for example) and exceeded the income limit to receive an advance stimulus payment? A: The law specifies that stimulus checks are based on a temporary, refundable tax credit for tax year 2020. If your income will be substantially less this year and you otherwise…

    Read More
  • Advanced ID Theft – How they do it:

    Learn how to not be a victim

     Advanced ID Theft – How they do it:<br><h2>Learn how to not be a victim</h2>

    When it comes to protecting ourselves from ID theft, our problem is that most of us don’t think the same way that a criminal does.  Good legal advice becomes vital because an attorney who has presided over such cases can share some of the methods that ID thieves may use. Our guest editor this week…

    Read More
  • RMDs made PDQ:

    RMD (Required Minimum Distribution) rules have changed - Should you take advantage of them?

     RMDs made PDQ:<br><h2>RMD (Required Minimum Distribution) rules have changed - Should you take advantage of them?</h2>

    This subject reminds of a famous line from the movie Jurassic Park. “Your scientists were so preoccupied with whether or not they could, they didn’t stop to think if they should.” So even though you could access your IRA account in a tax-advantaged way, you should be careful about raiding your retirement funds except for…

    Read More
  • The worst kind of ID theft:

    What if someone stole something more valuable than money?

     The worst kind of ID theft:<br><h2>What if someone stole something more valuable than money?</h2>

    Although we’re very good at tax and accounting, when it comes to legal matters, it always pays to consult a good attorney and, in this case, a sitting Magistrate Judge.  Judge Kathy Brown Valencia is our guest editor this week. She serves as Magistrate Judge, Post 2 (county-wide), and is the incumbent candidate for the…

    Read More
  • Your stimulus check- how to make sure IRS gets it right:

    Use our free calculator to double check IRS

     Your stimulus check- how to make sure IRS gets it right:<br><h2>Use our free calculator to double check IRS</h2>

    Most of us are a little doubtful of the IRS’ ability to get things exactly right especially with the rebate being partially phased out as your income goes up. If you’d like a method of double-checking the government’s calculation of your soon to be coming stimulus check, feel free to use our calculator below. Just…

    Read More
  • The SECURE ACT – New Rules for Retirees:

    A last minute Christmas surprise from Washington

     The SECURE ACT – New Rules for Retirees:<br><h2>A last minute Christmas surprise from Washington</h2>

      New Law Extends Key Tax Breaks into 2020 — aka How Congress tries to upset your year-end planning Just when it seemed like Congress was too distracted by impeachment proceedings and national security to worry about taxes, they throw curveballs into our year-end tax planning.  The Extenders and Secure (Retirement) Act are just a…

    Read More
  • Business Reading List for the Holidays:

    Increase your profits by learning the basics of ecomomics

     Business Reading List for the Holidays:<br><h2>Increase your profits by learning the basics of ecomomics</h2>

    To succeed in business, it’s necessary to learn some economic theory. Don’t worry – this doesn’t mean you have to have a degree in Econ studies – it just means you grasp some principles of how free markets work. Some of the best reads that I’ve ever found are described in our video review below.…

    Read More
  • Christmas giving and tax deductions:

    How to let Uncle Sam help your favorite charity

     Christmas giving and tax deductions:<br><h2>How to let Uncle Sam help your favorite charity</h2>

    In the case of non-cash charitable gifts you need to be careful not to fall into several tax traps that may limit your deduction.

    Read More
  • Chrisley knows best — except for taxes:

    Things Todd should never tweet about

     Chrisley knows best — except for taxes:<br><h2>Things Todd should  never tweet about</h2>

    There have always been a number of things you can do to get on the IRS’ bad side and (in the Christmas vernacular) their “naughty list.”  This article from Forbes is a great checklist of things you should never, ever, do when dealing with an IRS audit. Published by Tax Attorney Robert Wood in Forbes…

    Read More
  • Get a 30 Percent Tax Credit for Residential Solar Panels:

    Act quickly if you want this credit

     Get a 30 Percent Tax Credit for Residential Solar Panels:<br><h2>Act quickly if you want this credit</h2>

     Only a few months left to Claim a Tax Credit for Residential Solar Panels If you’ve decided that you want to go the Solar Energy route, here are some unique tax advantages to help pay for it. The 30 percent residential solar credit: drops to 26 percent for tax year 2020, drops to 22 percent…

    Read More
  • Roth vs Traditional IRA – Which is better:

    We crunch the numbers and give you an answer to the raging debate

     Roth vs Traditional IRA – Which is better:<br><h2>We crunch the numbers and give you an answer to the raging debate</h2>

    Roth IRA versus Traditional IRA: Which Is Better for You?   I can’t think of a more heated tax debate than this topic has been over the years. This debate is akin to the feud between the Hatfields and McCoys, the Montague and Capulets, the Union and the South, etc. Accountants tend to be split…

    Read More
  • Red Alert – Data Breach:

    If you have a capital One Credit Card - Take some precautions

     Red Alert – Data Breach:<br><h2>If you have a capital One Credit Card - Take some precautions</h2>

      Two years ago, we published this alert about the Equifax data breach and the steps you should take.  Today, it’s happened again! This time it’s about 100 million Capital One credit card application’s info that may be exposed. We’ll quote an article from PC World: “On Monday night, Capital One revealed that more than 100…

    Read More
  • Numbers that we should remember

    Numbers that we should remember

    There are many numbers (tax rates, investment percentages, etc.) that we like for clients to remember, but as we approach Independence Day, we ought to refocus on some numbers that are just as important. Our broker friends have provided them in the video below.

    Read More
  • The US national debt:

    Should you care about it?

    Read More
  • Should you be paying “your fair share”:

    We destroy another tax myth with facts

     Should you be paying “your fair share”:<br><h2>We destroy another tax myth with facts</h2>

    How taxes really work

    Read More
  • Cliff notes of the new tax law:

    Our cheat sheet guide to tax reform

     Cliff notes of the new tax law:<br><h2>Our cheat sheet guide to tax reform</h2>

    Most clients don’t really need to know all the aspects of Tax Reform. But a quick reference guide can be helpful. From the new rules on alimony to 529 plans to mortgage interest limitations to meals and entertainment and the new 20% business income deduction – here’s the tip sheet you’ll want to print and keep…

    Read More
  • Where your money really goes!:

    It's not for food, clothing, and shelter!

     Where your money really goes!:<br><h2>It's not for food, clothing, and shelter!</h2>

    I’m putting this under the category of tax humor but, arguably, it’s not that funny.  There used to be a cliche that nothing has changed due to technology and that we still spend most of our income on food, clothing, and shelter. There is something that has grown faster than real estate costs or inflation. That’s the…

    Read More
  • Guarding your ID:

    Follow the link for ID security tips

     Guarding your ID:<br><h2>Follow the link for ID security tips</h2>

    Guard your ID carefully. Here are some tips.

    Read More
  • Charting the effects of tax reform on your return:

    Existing clients can get a free detailed report on the topics below

     Charting the effects of tax reform on your return:<br><h2>Existing clients can get a free detailed report on the topics below</h2>

    Buckle your seat belt because the road to tax savings just got bumpier. We’ll be covering the major changes for tax year 2018 below. Existing clients can obtain a free detailed report on each area by clicking this link and referencing the phrase in the topic column in the subject line of your email.

    Read More
  • What a difference a name makes!:

    Are you a dealer or investor? Here's how to tell the difference!

     What a difference a name makes!:<br><h2>Are you a dealer or investor? Here's how to tell the difference!</h2>

    How you define “Real Estate Investor” and “Real Estate Dealer” can make a huge difference in your taxes. Let’s take a look at how big a difference you can make in the tax bite. Say you have a $90,000 profit on the sale of a property. • Dealer taxes could be as high as $46,017. •…

    Read More
  • Does everybody really get a tax cut in 2018?:

    In almost all cases, the answer is yes!

     Does everybody really get a tax cut in 2018?:<br><h2>In almost all cases, the answer is yes! </h2>

    This is because the tax rates are less than in 2017 for every income bracket. Although there is always the exception the proves the general rule, here are the new reduced rates for tax year 2018. Existing clients are welcome to email us for an estimate of just how much savings you may realize.

    Read More
  • Questions from our clients on the new tax law:

    Free advice to actual client questions

     Questions from our clients on the new tax law:<br><h2>Free advice to actual client questions</h2>

    The following questions are ones that we get asked every week at this time of year. Below are the answers that factor in the new tax law that will affect the 2018 returns. Will I be able to save on taxes if I prepay my January 2019 mortgage bill before the end of the year in…

    Read More
  • From SCA to you:

    Happy Thanksgiving!

     From SCA to you:<br><h2>Happy Thanksgiving!</h2>

    From SCA to you

    Read More
  • Tax Reform in picture format:

    Our infographic explains 10 key elements of tax reform

     Tax Reform in picture format:<br><h2>Our infographic explains 10 key elements of tax reform</h2>
    Read More
  • IRS Amnesty Program ends September 28!:

    Non-reported foreign bank accounts will cost you dearly

     IRS Amnesty Program ends September 28!:<br><h2>Non-reported foreign bank accounts will cost you dearly</h2>

    Warning- IRS penalty forgiveness for foreign bank accounts is about to expire! Although most clients are aware that earnings from a foreign bank account are reportable on a US citizen’s tax return they may not realize the danger of non-disclosure of foreign accounts – even if they produce no income! The various penalties run the gamut from 10,000…

    Read More
  • A Tax Court decision you’re going to hate:

    Joint Returns Valid Despite Wife's Forged Signature

     A Tax Court decision you’re going to hate:<br><h2>Joint Returns Valid Despite Wife's Forged Signature</h2>

    Joint filing can save a lot of tax -except when it makes you guilty of your spouse’s fraud!

    Read More
  • Tax Reform in a Picture Format:

    10 Major areas of tax reform via our infographic

     Tax Reform in a Picture Format:<br><h2>10 Major areas of tax reform via our infographic</h2>

    Educators tell us that we retain knowledge better when it’s associated with pictures.  We’ve taken our Top Ten Items of Tax Reform for this week and created an infographic to help you better remember areas for 2018 tax planning. To discuss the specific impact on your own return, just email us for a projection of your…

    Read More
  • The worst IRS scam ever!:

    Don't fall for newest IRS scam

     The worst IRS scam ever!:<br><h2>Don't fall for newest IRS scam</h2>

    Don’t fall for newest IRS scam

    Read More
  • Tax Reform Strikes Again!:

    New tax provisions hidden in February budget bill

     Tax Reform Strikes Again!:<br><h2>New tax provisions hidden in February budget bill</h2>

    Don’t shoot the messenger, but Congress has done it again!

    Read More
  • How to use your 529 Plan for private high school education costs:

    Tax Reform opens a new door for your child's education

     How to use your 529 Plan for private high school education costs:<br><h2>Tax Reform opens a new door for your child's education</h2>

    Tax Reform opens a new door for your child’s education

    Read More
  • Freeloader Nation:

    Why you should give through a local charity

    Why you should work through a local charity

    Read More
  • Will you get a tax cut next year?:

    Take a look at how some of our clients will fare.

     Will you get a tax cut next year?:<br><h2>Take a look at how some of our clients will fare.</h2>

    Will you get a tax cut next year?

    Read More
  • Tax Reform progress – Part II:

    Congress battles to get an agreement by year end.

     Tax Reform progress – Part II:<br><h2>Congress battles to get an agreement by year end.</h2>

    It seems that, much like the Atlanta weather, if you don’t like today’s tax law -just hang on and it’ll be different next week.

    Read More
  • Tax Reform progress – as of today:

    Congress battles to get an agreement by year end.

     Tax Reform progress – as of today:<br><h2>Congress battles to get an agreement by year end.</h2>

    It seems that, much like the Atlanta weather, if you don’t like today’s tax law -just hang on and it’ll be different next week.

    Read More
  • From SCA to you:

    Happy Thanksgiving!

     From SCA to you:<br><h2>Happy Thanksgiving!</h2>

    From SCA to you

    Read More
  • New 2018 limits on deductions for retirement:

    Plan now for next year's larger amounts

     New 2018 limits on deductions for retirement:<br><h2>Plan now for next year's larger amounts</h2>

    Plan now for next year’s larger amounts.

    Read More
  • Equifax data breach:

    Find out if you are affected

     Equifax data breach:<br><h2>Find out if you are affected</h2>

    To check the likelihood of your data being breached, Click Here

    Read More
  • Special tax relief for Hurricane Harvey victims:

    IRS authorizes extended due dates and exceptions to retirement plan loans

     Special tax relief for Hurricane Harvey victims:<br><h2>IRS authorizes extended due dates and exceptions to retirement plan loans</h2>

    IRS provides relief from filing deadlines.

    Read More
  • As Shakespeare said:

    "Neither a borrower nor a lender be."

     As  Shakespeare said:<br><h2>" width="542" height="312" />

    As Shakespeare said . . . “Neither a borrower or a lender be.”

    Read More
  • Owe a large tax bill?:

    Say sayonara to your passport

     Owe a large tax bill?:<br><h2>Say sayonara to your passport</h2>

    Say sayonara to your passport

    Read More
  • Why a 1031 exchange is a great tax-planning idea

    Why a 1031 exchange is a great tax-planning idea

    Why a 1031 exchange is a great tax planning idea

    Read More
  • Ways to pay the IRS

    Ways to pay the IRS

    Sometimes, in spite of all the planning, you may wind up owing more than you expected to the IRS.

    Read More
  • The other tax date in April:

    April 1 could be the date you incur a tax of 50%!

     The other tax date in April:<br><h2>April 1 could be the date you incur a tax of 50%!</h2>

    The other tax date in April – this one can cost you 50%

    Read More
  • ID Theft and the IRS

    ID Theft and the IRS

    If you’ve been inconvenienced with the IRS assigning you a PIN you’ll be encouraged to know . . .

    Read More
  • Meet the entire IRA family:

    The members of this family are very different from each other.

     Meet the entire IRA family:<br><h2>The members of this family are very different from each other.</h2>

    The members of the IRA family are very different from each other.

    Read More
  • Hacking the code – what the 2016 tax law changes mean to you

    Hacking the code – what the 2016 tax law changes mean to you

    What the 2016 tax law changes mean to you.

    Read More
  • Are some of your deductions dying?:

    Here are some popular deductions that will die on 12/31/16

     Are some of your deductions dying?:<br><h2>Here are some popular deductions that will die on 12/31/16</h2>

    Here are some popular deductions that will die on 12/31/16

    Read More
  • Tax Planning for the new year

    Tax Planning for the new year

    Tax Planning for the new year.

    Read More
  • Why you should care about corporate inversions:

    Here's the real reason that companies leave American soil and what it costs you!

    Here’s the real reason that companies leave American soil and what it costs you!

    Read More
  • Year-end Tax Planning

    Year-end Tax Planning

    How to save taxes with year-end planning.

    Read More
  • Identity theft – It may be a matter of when, not if.

    Identity theft – It may be a matter of when, not if.

    What to do if you’re the victim of ID theft. Take these steps asap.

    Read More
  • Trump-etting the new tax law

    Trump-etting the new tax law

    How a new President may change the tax laws.

    Read More
  • Can you deduct your rental losses?:

    in tax matters, the answer is "it depends."

     Can you deduct your rental losses?:<br><h2>in tax matters, the answer is " width="240" height="240" />

    Can you deduct the loss on your rental property? Here’s the answer.

    Read More
  • The Electoral College – should we eliminate it?:

    Watch the video to learn the history and purpose the Founding Fathers had for the EC:

     The Electoral College – should we eliminate it?:<br><h2>Watch the video to learn the history and purpose the Founding Fathers had for the EC:</h2>

    Doe the EC still serve a useful purpose? The answer is surprising!

    Read More
  • Scary tax personel:

    Watch out for these tax monsters on Halloween!

     Scary tax personel:<br><h2>Watch out for these tax monsters on Halloween!</h2>

    Watch out for these tax monsters on Halloween!

    Read More
  • Every 100 years or so . . .

    Every 100 years or so . . .

    Confused about the Obamacare shared responsibility payments? Here’s help.

    Read More
  • The problem with Social Security:

    it's based on simple math

     The problem with Social Security:<br><h2>it's based on simple math</h2>

    The problem with social security . . .

    Read More
  • Moving expenses:

    only certain types of expenses can be deducted

     Moving expenses:<br><h2>only certain types of expenses can be deducted</h2>

    Only certain types of moving expenses are deductible. Here’s an overview.

    Read More
  • How the new President’s tax plan will affect your wallet:

    enter your income and see what you'll pay.

     How the new President’s tax plan will affect your wallet:<br><h2>enter your income and see what you'll pay.</h2>

    Plug in your income and compare the Presidential tax plans.

    Read More
  • IRS Funding under fire:

    Congress to cut budget by 236 million dollars

     IRS Funding under fire:<br><h2>Congress to cut budget by 236 million dollars</h2>

    The IRS was in damage control mode Tuesday after an audit revealed that it paid bonuses to employees who were in trouble over tax issues themselves.

    Read More
  • A tax break for Seniors:

    Sometimes Congress actually gets something right.

     A tax break for Seniors:<br><h2>Sometimes Congress actually gets something right.</h2>

    Sometimes Congress actually gets something right! This happens so rarely that I wanted to write a special blog post on it. Clients who have followed our advice over the years tend to retire with no mortgage debt and few out-of-pocket medical expenses. This leaves their charitable contributions as the main source of itemized deductions to…

    Read More
  • A tax shelter like no other:

    This is the only tax entity that is pretax on money in and out!

     A tax shelter like no other:<br><h2>This is the only tax entity that is pretax on money in and out!</h2>

    The only tax shelter that you can deduct contributions and not be taxed on distributions.

    Read More
  • Freedom in Georgia declines by 25%:

    Tax Freedom Day update

     Freedom in Georgia declines by 25%:<br><h2>Tax Freedom Day update</h2>

    Just how free are you? It may depend on where you live.

    Read More
  • Did you think the 50% tax rate was gone?:

    April 1 could be the date you incur a tax of 50%!

     Did you think the 50% tax rate was gone?:<br><h2>April 1 could be the date you incur a tax of 50%!</h2>

    The other tax date in April – this one can cost you 50!

    Read More
  • Don’t let your deduction get washed out:

    How the "wash sale" rules can cancel your current year write-off!

     Don’t let your deduction get washed out:<br><h2>How the " width="542" height="312" />

    How the “wash sale” rules can cancel your current year write-off

    Read More
  • What simple math can tell you about Social Security:

    another reason to save and invest well!

     What simple math can tell you about Social Security:<br><h2>another reason to save and invest well!</h2>

    You don’t have to be a genius to know what simple math ratios indicate is happening to social security. Just take a look at the chart below, and you’ll know why you can’t trust Social Security exclusively for your retirement. Planning now is always better than panicking later. Remember that we’re just a click away…

    Read More
  • If you win the powerball lottery . . .:

    which state will tax you the most?

     If you win the powerball lottery . . .:<br><h2>which state will tax you the most?</h2>

    If you win the powerball . . . how much state tax is due?

    Read More
  • The long, long, arm of Uncle Sam:

    how the Fed redistributes your income

     The long, long, arm of Uncle Sam:<br><h2>how the Fed redistributes your income</h2>

    How the government redistributes your income

    Read More
  • Does it ever pay to be just average?:

    Sometimes it's ok to be average.

     Does it ever pay to be just average?:<br><h2>Sometimes it's ok to be average.</h2>

    Here are the average tax deductions by income level according to the IRS

    Read More
  • Now you see it . . .now you don’t:

    How Congress is making last year's deductions disappear

     Now you see it . . .now you don’t:<br><h2>How Congress is making last year's deductions disappear</h2>

    A magic trick by Congress!

    Read More
  • A Planning Tool for 2016 and beyond:

    Make sure that you've utilized your retirement plan to the max!

     A Planning Tool for 2016 and beyond:<br><h2>Make sure that you've utilized your retirement plan to the max!</h2>

    Confused about the tax tools for retirement planning? Here’s some help.

    Read More
  • No good deed (or charitable donation) goes unpunished

    No good deed (or charitable donation) goes unpunished

    In the case of non-cash charitable gifts you need to be careful not to fall into several tax traps that may limit your deduction.

    Read More
  • Christmas gifts and the Federal Gift Tax:

    how to use gifting to the max

     Christmas gifts and the Federal Gift Tax:<br><h2>how to use gifting to the max</h2>

    During the season of giving, you can (tax-wise) accomplish some effective giving as well.

    Read More
  • Our Christmas gift to clients – more deductions for year end!:

    how to obtain a deduction for items paid next year

     Our Christmas gift to clients – more deductions for year end!:<br><h2>how to obtain a deduction for items paid next year</h2>

    Well . . . it’s technically not a “gift” but it will help you lower your taxable income for 2014.

    Read More
  • Remembering Veteran’s Day:

    see below for a list of tax advantages for those who have served their country:

     Remembering Veteran’s Day:<br><h2>see below for a  list of tax advantages for those who have served their country:</h2>

    Tax advantages just for veterans

    Read More
  • Forget about Halloween: here’s something that’s truly scary!

    Forget about Halloween: here’s something that’s truly scary!

    One of the scariest things you’ll ever see.

    Read More
  • Why it’s good to be number 44 out of 50:

    Georgia ranks among the lowest in debt per capita

     Why it’s good to be number 44 out of 50:<br><h2>Georgia ranks among the lowest in debt per capita</h2>

    Georgia ranks among the lowest in debt per capita

    Read More
  • Your most important job:

    whether owner or employee, this is the most important thing you do

    It may be a speech for your product or service, or just to promote the goodwill of your company – but it’s important to do it well.

    Read More
  • Ways to get money out of your IRA:

    WITHOUT paying the 10% penalty

     Ways to get money out of your IRA:<br><h2>WITHOUT  paying the 10% penalty</h2>

    Need money from your IRA but want to avoid the 10% penlalty?

    Read More
  • May-June marriages can bring April tax bills:

    We explain the tax-related "marriage penalty."

    " class="themeblvd-lightbox mfp-image tb-thumb-link slide-thumbnail-link image"> May-June marriages can bring April tax bills:<br><h2>We explain the tax-related " width="542" height="312" />

    Combining two incomes may more than double your tax bill! Here’s how to fight back.

    Read More
  • If you paid a penalty for no insurance coverage in 2014:

    then you're going to be really unhappy in 2015

     If you paid a penalty for no insurance coverage in 2014:<br><h2>then you're going to be really unhappy in 2015</h2>

    Expect Obamacare penalties to get worse next year.

    Read More
  • Free at last! Free at last!:

    Tax Freedom Day update

     Free at last! Free at last!:<br><h2>Tax Freedom Day update</h2>

    Just how free are you? It may depend on where you live.

    Read More
  • IRS-Based Scams

    IRS-Based Scams

      IRS internet scams are famous (or infamous) and have been around a long time. The post below is a warning of these e-mail and call scams that we published months ago.    However, among professional con men there’s an old saying – “there’s no scam like an old scam.” What they mean by this…

    Read More
  • IRS approves April 2015 deduction on your 2014 return::

    Donations to slain Police Officer's families can be backdated on your tax return.

     IRS approves April 2015 deduction on your 2014 return::<br><h2>Donations to slain Police Officer's families  can be backdated on your tax return.</h2>

    Donations to slain Police Officer’s families can be backdated to 2014.

    Read More
  • Are you a “real estate professional”?

    Are you a “real estate professional”?

    During tax season, we get a lot of questions about the deductibility of rental real estate losses. There is not a single “sound bite” type of answer as it can depend upon your income level, type of property, and the degree to which you share in the management responsibilities.

    Read More
  • “To Sell or Not to Sell -that is the question.” – William Shakespeare [edited]:

    "The tax rate can be mightier than the sword."

    " target="_self" class="tb-thumb-link slide-thumbnail-link post"> “To Sell or Not to Sell -that is the question.” – William Shakespeare [edited]:<br><h2>" width="350" height="312" />

    Although we don’t give investment advice, we thought a simple math formula that helps you maximize your stock gains might be useful.

    Read More
  • How to E-Sign your individual tax return:

    It's quick and easy

     How to E-Sign your individual tax return:<br><h2>It's quick and easy</h2>

    How to E-Sign your individual tax return

    Read More
  • Myths about Taxable Income:

    What you don't know can hurt you (a lot).

     Myths about Taxable Income:<br><h2>What you don't know can hurt you (a lot).</h2>

    My Social Security benefits aren’t taxable. Depending on the amount of other income that a taxpayer has to report, their benefits may be taxable – but the maximum amount of Social Security benefits that must be included is 85 percent. I don’t need to report stock sales if I bought other stocks with the proceeds.…

    Read More
  • Why tax year 2014 requires more work:

    New Obamacare requirements

     Why tax year 2014 requires more work:<br><h2>New Obamacare requirements</h2>

    In March, 2010. President Obama signed the Affordable Care Act. One provision of the Act required that in 2014 all Americans must have qualified health insurance or face a “Shared Responsibility Payment,” more commonly known as the Health Care Penalty. A lesser known amendment to the Act allowed insurance providers and large employers a one-year…

    Read More
  • Working outside the USA? Don’t forget about these IRS requirements!

    Working outside the USA? Don’t forget about these IRS requirements!

    You may still have to file a tax return if you live outside the United States and maintain your US citizenship.

    Read More
  • Our Christmas gift to clients – more deductions for 2014!

    Our Christmas gift to clients – more deductions for 2014!

    Well . . . it’s technically not a “gift” but it will help you lower your taxable income for 2014.

    Read More
  • A Year-End tip that always helps in tax planning

    A Year-End tip that always helps in tax planning

    All of our existing clients have access to our SCA Secure client portals at no additional charge.

    Read More
  • Christmas gifts and the Federal Gift Tax

    Christmas gifts and the Federal Gift Tax

    During the season of giving, you can (tax-wise) accomplish some effective giving as well.

    Read More
  • Thanksgiving Items

    Thanksgiving Items

    Our clients are some of the most grateful people we know. It seems appropriate on this holiday to document the things that we’re most thankful for and the persons responsible for them. We’re always thankful for you, our clients, and look forward to serving you in 2015! Feel free to use our form below to…

    Read More
  • No good deed (or charitable donation) goes unpunished

    No good deed (or charitable donation) goes unpunished

    In the case of non-cash charitable gifts you need to be careful not to fall into several tax traps that may limit your deduction.

    Read More
  • Haven’t filed a return for a few years? Here’s some options that you can use.

    Haven’t filed a return for a few years? Here’s some options that you can use.

    Haven’t filed a return for a few years? Here’s how to start.

    Read More
  • Who gets your Roth-IRA money? (Part IV of Keeping it All in the Family)

    Who gets your Roth-IRA money? (Part IV of Keeping it All in the Family)

    Who gets the money from a ROTH-IRA?

    Read More
  • Roth-IRAs demand equal time! (Keeping it all in the family Part III)

    Roth-IRAs demand equal time! (Keeping it all in the family Part III)

    Here are the answers to the two most often asked questions we get on the subject of Roth accounts.

    Read More
  • The other side of the coin

    The other side of the coin

      After 172 posts and 81 pages written and published on our site, nothing has drawn the reaction of this post entitled Who pays the Federal Income Tax. Given that the stats quoted were from the IRS, you’d think that no one could argue about an empirical fact (the top 10% pay over 70% of…

    Read More
  • Uploading your data with SCA secure

    With our encrypted portals uploading your data couldn’t be much safer or much easier. Have a look as one of our clients uploads tax information to us. It’s safe, quick, and easy! Steps demonstrated in the video Login Click on File Exchange in left sidebar Click on the Upload Data folder Click the Upload icon…

    Read More
  • Executive Summary of Timeline for Obamacare provisions

    Executive Summary of Timeline for Obamacare provisions

    Editor’s Note: There have been substantial changes in the ACA law since we published this post. See our current newsletter for updated information. The Cliff Notes version (detailed explanation below) 2010 – 2011 Small business tax credit Adult dependent insurance coverage Return information disclosure Restrictions on use of HSA and FSA funds 2012 Information reporting…

    Read More
  • Can the “Fonz” drive in reverse?

    Can the “Fonz” drive in reverse?

    Henry Winkler (a/k/a “The Fonz” on the Happy Days TV series) can be currently seen on television advertising for senior citizens to sign up for a reverse mortgage. Before you can make a financial decision on anything, you need to know: How does it work, and How does it help (or hurt) me financially? How…

    Read More
  • What our email footer really means!

    What our email footer really means!

        IRS Circular 230 Disclosure – What Does all the legalese really mean?   Our SCA team prides itself in looking after each client’s tax affairs as if they were our own. We leave no tax deduction aside you’re legally entitled to take. Reliance on professional advice has usually been the only thing required…

    Read More
  • When we say it’s secure – we mean it!

    When we say it’s secure – we mean it!

    We talk a lot about the importance of keeping your data secure.  Three years ago we offered our SCA secure portals which use a transparent 256bit encryption. The problem is that most of us don’t take our computer with us when we visit our banker or stockbroker. To fix this inconvenience for our clients, we’ve…

    Read More
  • When it’s OK to be average

    When it’s OK to be average

    Here are the average deductions, by level of income, based on the latest available IRS stats. The following are preliminary figures released by the IRS (their reports lag behind the current tax year because of the time needed to compile figures). These are averages only. [Editor’s note: Remember that there is no “average” amount that…

    Read More
  • What’s my tax rate? Here’s why that can be a hard question.

    What’s my tax rate? Here’s why that can be a hard question.

    Clients are sometimes surprised that we need to call them back with an answer to the above question. The chart below explains why this can require some analysis to answer. On this client’s 2013 return, he has encountered no less than six rate structures. Since you can’t effectively plan without knowing your real marginal rate,…

    Read More
  • Can you deduct the cost of a Skybox used for business entertainment?

    Can you deduct the cost of a Skybox used for business entertainment?

      The answer is yes – for the most part. Here’s a letter we wrote to a client explaning how this works. Dear [name redacted] You’ve asked us to review the tax limitations on  deducting the expenses of renting a skybox or other private luxury box at a sporting event. Skybox rentals are subject to…

    Read More
  • Areas for Tax Planning in 2014 & 2015

    Areas for Tax Planning in 2014 & 2015

    A visual summary of Tax Planning areas for 2014

    Read More
  • DIY tools and why you may not want to use them.

    DIY tools and why you may not want to use them.

    If you’re the DIY (do it yourself) type, here are the tools.

    Read More
  • Sticker shock awaits many clients on their 2013 tax return

    Sticker shock awaits many clients on their 2013 tax return

    Many folks will get a severe case of sticker shock in 2013. Here’s why.

    Read More
  • Beware of these (alleged) IRS E-Mails

    Beware of these (alleged) IRS E-Mails

    Among professional con men there’s an old saying – “there’s no scam like an old scam.” What they mean by this is that the basic appeal of the con is the same although the technology to deliver the scam may improve. Nowhere is this more true than with scams that appear to be emails from the…

    Read More
  • IRS magic tricks – Deductions that will disappear on December 31!

    IRS magic tricks – Deductions that will disappear on December 31!

    Certain deductions are scheduled to vanish in 2014!

    Read More
  • What’s in a name? Let’s ask IRS!

    What’s in a name? Let’s ask IRS!

    Figures don’t lie but IRS Commissioners do.

    Read More
  • Identity theft – IRS posts thousands of social security numbers on its website!

    Identity theft – IRS posts thousands of social security numbers on its website!

    We give you the steps to combat the ever-present danger of ID Theft

    Read More
  • New Home Office rules for 2013 – IRS makes it easier to calculate the deduction.

    New Home Office rules for 2013 – IRS makes it easier to calculate the deduction.

    Calculating the home office deduction just got easier in 2013

    Read More
  • Happy 100th Birthday – Not! A taxing history of the US

    Happy 100th Birthday – Not!  A taxing history of the US

    This year marks the tax code’s 100th birthday. So-what do you get for the Tax Code that has (quite literally) everything under the sun already?

    Read More
  • How much will Social Security pay me when I retire?

    How much will Social Security pay me when I retire?

    How much will Social Security pay you at retirement? Our chart will give you an answer.

    Read More
  • Why you’ll pay more tax in 2013 and beyond

    Why you’ll pay more tax in 2013 and beyond

    A timeline for some of the new taxes in the President’s 2014 budget and Obamacare

    Read More
  • IRS, Star Trek, and Gilligan’s Island

    IRS, Star Trek, and Gilligan’s Island

    See the Star Trek and Gilligan’s Island parody videos that cost $70,000 of the taxpayers’ money

    Read More
  • Why Mark Zuckerberg really hates April 15

    Why Mark Zuckerberg really hates April 15

    If you’re dreading April 15 due to a big tax bill- it could be worse. Facebook’s IPO made founder Mark Zuckerberg a billionaire — but left him with a tax bill likely to top $1 billion. Here’s the story from the CNN news feed. Facebook’s stock market debut left founder and CEO Mark Zuckerberg with a…

    Read More
  • Simple in Six – How to enter Excel data just one time!

    Simple in Six – How to enter Excel data just one time!

    Do you ever get frustrated formatting a yearly spreadsheet and then entering data in 12 tabs for monthly projections, budgets,etc? What’s really irritating is when something has to be added and you’re faced with 12 tabs to update.  Thanks to Excel expert Tom Fragale (@PhillyTom), we have a way to enter your data just once…

    Read More
  • Tax Advice for Valentine’s Day

    Tax Advice for Valentine’s Day

    This is one of our older posts, but it’s still good advice!

    Read More
  • Can you guess what’s coming next?

    Can you guess what’s coming next?

    Laura Saunders has a great exercise in predictive logic in the tax section of the Wall Street Journal. Most clients’ largest tax benefit may soon be under attack if she’s right! ” When you receive your W-2 for 2012, pay attention to a surprising new number on the form, especially if you are an upper-income-bracket taxpayer.…

    Read More
  • How to add forms to your tax organizer

    How to add forms to your tax organizer

    I’ve always liked being able to substitute items on a restaurant menu. That way you get exactly what you want. Why should your tax organizer be any different? Although the organizer is customized based upon your prior year return, things can often change from last year. If you switched jobs, opened a new brokerage account, opened a new Health…

    Read More
  • When does it pay to be average?

    When does it pay to be average?

      Sometimes being average is not a bad thing. The data below (for illustrative purposes only) shows what the IRS has calculated as average deductions by income level. When a tax return varies too far from the average, something called a DIF ( Discriminant Income Function) score flags the return for audit. However, IRS  uses more…

    Read More
  • Time running out for a do-over on your IRA distribution!

    Time running out for a do-over on your IRA distribution!

    As our golfer friends say, time is running out for a mulligan on any IRA distributions that were required by 12/31/12. The fiscal cliff law signed by the President on January 2 has a retroactive provision that could help you out of a jam if you forgot to take a RMD (required minimum distribution) from…

    Read More
  • Planning or Just Playing Scrabble?

    Planning or Just Playing Scrabble?

      Retirement Planning – it’s more than a game of scrabble?   Some of the 2013 retirement plan limits have changed. Good planning involves trying to max out these amounts every year. Stop playing a game of scrabble with your retirement and hoping for some lucky tiles to come your way. We can help you determine how much…

    Read More
  • Unlucky 4 digit numbers

    Unlucky 4 digit numbers

    Certain numbers can be unlucky for filing your tax return for 2012. Some of the 4 digits that are guaranteed to delay filing of your return until late February or even March are 3800, 4562, 5695 ,8582 to name just a few. We’re not getting these from a Chinese fortune cookie, but from the IRS website. Seems…

    Read More
  • IRS releases revised E-File date

    IRS releases revised E-File date

    You may remember our post a few weeks ago where the IRS predicted that the fiscal cliff may cause filing delays until the end of March for complex returns.  Due to a semi-solution by Congress, we now have IRS confirmation that January 30 is approved as the first day for E-Filing. Advanced returns will still be…

    Read More
  • A Cliff Notes Summary of the Fiscal Cliff Law

    A Cliff Notes Summary of the Fiscal Cliff Law

    We’ve reviewed the 157 page sorry excuse for a err I mean problem-solving bill Congress passed last night. Sorry that it is (raises taxes, but no spending cuts to speak of), we at least have an idea of what’s coming in 2013. Here are the main (but not all)  areas that will effect your return…

    Read More
  • The AMT monster is coming! See video below.

    The AMT monster is coming! See video below.
    Read More
  • If you read nothing else this year . . .

    If you read nothing else this year . . .

    be sure to read our letter to clients on how to plan for 2013. This link will take you there.   See the effect on your family in 2013 (Click Here) or use our fiscal cliff calculator with the numbers from your 2011 return. 

    Read More
  • IRS to Washington – Get your act together or no returns processed until March

    IRS to Washington – Get your act together or no returns processed until March

    You have to admire one thing about acting IRS Director Steve Miller. As the head of IRS, he warned Congress that certain tax returns will not be processed until March of 2013.  Why make this threat? Because twice in the past when the AMT patch has expired, it has been reinstated retroactively. The IRS made…

    Read More
  • The fiscal cliff effect by age groups

    The fiscal cliff effect by age groups

    Whether you are single, married, working your way through college, or settled in your career. This infographic from today’s Wall Street Journal shows the financial loss you’ll feel in 2013. Begin your tax planning now to avoid a painful new year. Be aware that these are averages. Your tax effect may be larger. [Be sure to click…

    Read More
  • For advanced clients only

    For advanced clients only

    For our clients who have advanced knowledge of the dangers starting January 1 (to join this group, Click Here and read the section of fiscal cliff articles) we offer a “Cliff Notes” version of the individual effects of the fiscal cliff. You can access this summary graphic by clicking this link. Remember there’s still plenty…

    Read More
  • The fiscal cliff in graphic form

    The fiscal cliff in graphic form

    Hollywood’s Friday the 13th and Freddy Kruger can’t begin to compare to how scary this picture promises to be. Coming to a country (very) near you on January 1, 2013. Clients can E-mail us for a special video presentation with specific details on what’s involved. We’ve also compiled a listing of helpful articles which can…

    Read More
  • Specific info on the Fiscal Cliff

      Detailed information of the peaks and valleys of the Fiscal Cliff Our last newsletter (see this link) contained general information and warnings about the financial and tax disaster referred to by the media as the “fiscal cliff.” We’ve been deluged with requests for more specific details on the effects of this scheduled legislation. Remember,…

    Read More
  • The Dark Knight vs. H&R Block

    Bruce Wayne (aka Batman) may be out to get Block (H & R), not the villainous Bain. Seems like  H&R  did a tax return comparison between the  wealthy  Mr. Wayne and a competing super-hero and made a 17- million- dollar mistake on his tax projection. In the first calculation (now pulled from their website) Block had Bruce Wayne reducing…

    Read More
  • Is there a way to deduct my political donation?

    Is there a way to deduct my political donation?

      Is there a way to deduct a political donation?  The answer may surprise you.     More than most tax questions, the answer to this one really is – “It depends.” It depends upon whether the  donation was given to: a social welfare  group, a trade association, a PAC, a so-called Super PAC, or…

    Read More
  • Breaking tax news for 2013!

    IRS just announced the new (and higher) limits on 401(k) plans etc. Here’s a summary for use in 2013 tax planning.   The  inflation-adjustments for 2013 include: Gift Tax Exemption:  $14,000 (up $1,000 from 2012) Contribution Limit for 401(k)/403(b)/457 Plans:  $17,500 (up $500 from 2012) Catch-Up Contribution Limit (Age 50+) for 401(k)/403(b)/457 Plans:  $5,500 (same as 2012)…

    Read More
  • A Tale of Two Tax Plans

    With apologies to Charles Dickens, here’s an easy to understand graphic of how the upcoming tax plans measure up. Source: www.backtaxeshelp.com

    Read More
  • Back to School, Back to Practice: What You Need to Know About Your Insurance as a Volunteer Coach

    As children return to school across the country, families know that can also mean a return to the practice field, whether through school sports teams or community sports programs and often parents may find themselves on the sidelines as a volunteer coach. It can be especially rewarding to teach children the skill sets of a…

    Read More
  • How to avoid payroll taxes

    Wouldn’t it be helpful with your company’s cash flow if you could just not remit the social security and medicare withholding taxes? We don’t recommend this as a strategy but, according to the US Inspector General, it’s working pretty well for some Federal agencies. These Federal agencies owe over 14 million of back payroll taxes…

    Read More
  • The Anti-Investment tax of 2013! We explain how and when it applies.

    CPA gives 3 minute summary of the new Medicare tax

    Read More
  • Do corporations have to issue 1099s?

    As with most tax questions it depends. Although (as a general rule) corporations are exempt from this requirement, there are some exceptions. See the list below and be sure to E-Mail us if questions. Reportable payments to corporations. The following payments made to corporations generally must be reported on Form 1099-MISC. Medical and health care payments…

    Read More
  • Just what a sagging stock market needs to recover

    Let’s have a 289% increase on dividend earnings. That’ll really make people want to [sarcasm intended] buy into American business. Actually, there is nothing that will damage the market performance worse than this. If you own investments and would like them to increase in value, I’d make my voice known on this.

    Read More
  • Who really pays their “Fair Share” -Part II

    Looks like the argument for the rich paying their “fair share” is getting weaker and weaker. Hover your mouse over the chart to see the graphic proof of who really pays their fair share-Part I. Facts are stubborn things and the fact is that the top 5% of earners have gone from shouldering about 28%…

    Read More
  • Who really pays the Income Tax?

    I get asked this question almost every week. Here’s some helpful stats from our friends at the National Taxpayer’s Union. Remember this question. If a quarter of the income paying almost 90% of the tax bite is not “Fair”, then what is Fair? 98%? 115% Pro-rata cuts benefit all taxpayers equally – and that’s as…

    Read More
  • Think your CD rates are bad? How about a French T-Bill with negative interest?

    We always like to look at the positive side of things. As bad as CD rates in the US are for investors, you could have to deal with  French T-Bills which sell at a negative interest rate! I know that’s hard to believe, but here’s the AP news release: “. . . France, the No.…

    Read More
  • Some folks will see a 74% increase in the tax rates in 2013-(from the WSJ)

    We’re not kidding about the higher part as the new capital gain rates (remember the “capital” in capitalism). Just put your mouse over the picture to see proof that capital gains could go as high as 25% in 2013 ( a 67% increase)! The Wall St Journal says it best in their July 2, 2012…

    Read More
  • Will Smith becomes a capitalist

    The text of this conversation is printed below. Will Smith: I have no issue with paying taxes and whatever needs to be done for my country to grow. I believe very firmly that my ability to sit here—I’m a black man who didn’t go to college, yet I get to travel around the world and…

    Read More
  • If we did Financial Statements like the White House and Congress . . .

      We would simply overstate your net income by 384%!   Not surprisingly, the White House and Congress speak of the yearly deficit in amounts of 1.3 trillion.  However, if we use the same accounting rules that your business and my business are required to follow, the numbers change to roughly 5 trillion. Most financial…

    Read More
  • How “Qualified” are your relatives?

      One of the tests to claim a dependent is that the person must be a qualifying child or relative.  Like most things with IRS, the meaning of their terms is never simple.  Here are some of the tests used to qualify your dependent as a write-off. Tests To Be a Qualifying Child Tests To…

    Read More
  • Downside of Online: Cyber Crime & Stolen Data

        by Rick Viall (Guest Editor)    How safe is private information when stored electronically?   You may not want to know the answer to that question. But if you’re just a bit curious, consider visiting privacyrights.org/data-breach. The site allows you to scroll through a frequently updated chronological list of reported breaches of private…

    Read More
  • Let the rich guys pay this tax bill

    Why wouldn’t we let them pay?  The non-payers (but still voters) have almost reached 51%  

    Read More
  • Intuit solves the wrong problem with a new Quickbooks option

    For clients using Quickbooks, here’s a useful tip from one of our most trusted sources for software training. The instructors at K2 Enterprises will walk you through the process of limiting your Quickbooks data file to the current year. This will make QB run faster and more efficiently, but this does not solve the IRS…

    Read More
  • Does Volunteering Your Time Mean Volunteering Your Insurance?

    by Guest EditorRick Viall  rviall@viallins.com Millions of Americans donate time—their most valuable asset—to serve as a volunteer board member on non-profits, booster clubs, churches, PTAs and civic organizations, just to name a few. The decisions these folks make can have a dramatic impact on their respective organization—and not always for the better. If a volunteer…

    Read More
  • Downside of Online: Cyber Crime & Stolen Data

    by Guest EditorRick Viall  rviall@viallins.com How safe is private information when stored electronically? You may not want to know the answer to that question. But if you’re just a bit curious, consider visiting privacyrights.org/data-breach. The site allows you to scroll through a frequently updated chronological list of reported breaches of private data. Some data are…

    Read More
  • Sounds too Good to be True: Downloading Illegal Music

    by Guest EditorRick Viall  rviall@viallins.com Remember the days of curling up to the radio on a Saturday night, torturing yourself through commercials and lame tunes just to be able to crank it when Mr. DJ played your favorite song? No longer does one require the patience to spend an entire evening anticipating the next round…

    Read More
  • Customer no-service from IRS gets even worse!

    As if things weren’t bad enough, now the less-than-sterling level of IRS service just got worse. It’s not just my opinion, check out this eye-opening article from “Forbes.”    IRS Gone Bad: Are Things About to Get Even Worse?   The details aren’t all that important. Basically, I called the IRS to discuss a client’s tax…

    Read More
  • Special Tax Deductions for Special Education via the WSJ

    Special Tax Deductions for Special Education via the WSJ

    This Wall Street Journal Article contains a good overview of the tax breaks available for special education costs. “More than six million children in the U.S. fall into the “special needs” category, and their ranks are expanding. The number of those affected by one developmental disability alone—autism—grew more than 70% between 2005 and 2010. The…

    Read More
  • Why annuities may not be a good fit for senior citizens

      This article highlights difficulties that some senior citizens have had with annuities.    Arizona seniors lost millions in annuity fees, lawsuits say  Lawsuits highlight risks for elderly of investment choices   by Robert Anglen – Nov. 7, 2011 12:00 AM-The Arizona Republic   Hundreds of Arizona senior citizens cashed in their retirement investments and paid millions of dollars in unnecessary fees,…

    Read More
  • The theory of relativity is in the tax code

    The theory of relativity is in the tax code

    This is not the theory discovered by Einstein, but the one that states that certain tax advantages may be disallowed if you sell an asset to someone (or a company) that the tax code calls  a “related party.” Simply put, selling a capital asset at a loss to any of the following entities will cause the loss…

    Read More
  • Even Rodney may need an advanced degree to understand this.

    Even Rodney may need an advanced degree to understand this.

    Not only are there several different types of tax credits and deductions for education, but   they can vary according to status within college (Freshman,Senior, etc.) and your level of income. This article from the Wall Street Journal gives a basic overview of what’s available.     As always, contact us before acting on this or any tax credit. …

    Read More
  • What you can learn by adding (and subtracting) 8 zeros

    What you can learn by adding (and subtracting) 8 zeros

    Putting things into perspective by removing 8 zeros  It’s amazing what simple math can show: An analysis of the numbers below reveals why the average household budget is far better managed than the budget in Washington!      -Why S&P downgraded  the US credit rating • U.S. Tax revenue: $2,170,000,000,000 • Fed budget: $3,820,000,000,000 •…

    Read More
  • What could happen without a Will?

    Sadly, this could be the legacy you leave to your heirs. Think about the results this would produce and then email us for some solutions. What Happens With No Will? LAST WILL AND TESTAMENT OF JOHN DOE (WHO DIED WITHOUT A WILL) I, John Doe, of Nimrod, Missouri, hereby do make, publish and declare this…

    Read More
  • The one time that it’s good to be average

    Here are the average deductions, by level of income, based on the latest available IRS stats. Average Itemized Deductions         Adjusted Gross Income Medical Expenses Taxes Interest Charitable Contributions $15,000 to $30,000 $7,074 $3,147 $9,245 $2,189 $30,000 to $50,000 $6,153 $3,830 $9,055 $2,189 $50,000 to $100,000 $7,102 $6,050 $10,659 $2,693 $100,000 to…

    Read More
  • Planning for the unexpected in the chess game of Life

    Planning for the unexpected in the chess game of Life

    A Will to Live by It’s never too early to make a living will. Have you started one? By Rosemary Carlson • Bankrate.com [Breaking news- The Georgia State Bar has made available a free sample medical directive for your use. E-mail us for a free copy.] It could happen at any time. Walk across the street and…

    Read More
  • Can you deduct more than you paid for something?

    Can you deduct more than you paid for something?

    Most of the time we’re stuck with tax cost being what we paid for a stock, asset, real estate, etc… but sometimes this can change.

    Read More

Planning ideas for Business

For Business

  • Is your business safe from Covid lawsuits?:

    Gov Kemp signs new law for liability protection

    Our friends at the law firm of Berman, Fink Van Horn PC just published an excellent article on protecting your business from Covid lawsuits. Although written with healthcare providers in mind, the legal guidelines and protective acts could apply to any business. Attorney Kenneth Winkler offers the following summary of the new Georgia law: Under…

    Read More
     Is your business safe from Covid lawsuits?:<br><h2>Gov Kemp signs new law for liability protection</h2>
  • Rioting damage to your business:

    You may want to consider a casualty loss

        I recently spoke to a client in North Atlanta whose business storefront suffered damage from the riots in the city.  Although a deductible casualty loss was the last thing on their mind, it might be helpful to cover this topic as it relates to damage to your business property. The recent riots in…

    Read More
     Rioting damage to your business:<br><h2>You may want to consider a casualty loss</h2>
  • Do you wish that people gave you more credit?:

    Work Opportunity Tax Credit extended through 2020

    Work Opportunity Tax Credit extended through 2020 If you’re a business owner, be aware that a recent tax law extended a credit for hiring individuals from one or more targeted groups. Employers can qualify for a valuable tax credit known as the Work Opportunity Tax Credit (WOTC). Generally, an employer is eligible for the credit…

    Read More
     Do you wish that people gave you more credit?:<br><h2>Work Opportunity Tax Credit extended through 2020</h2>
  • Small Business Alert!:

    Your largest deduction just decreased by 21%

    Don’t fall for newest IRS scam

    Read More
     Small Business Alert!:<br><h2>  Your largest deduction just decreased by 21%                                                        </h2>
  • Identity Theft – Part III:

    Could your employees make you responsible?

    In parts one and two of our ID Theft series, the focus was on an outsider taking your money. Today our guest editor, Judge Kathy Brown Valencia, focuses on a different aspect of ID theft. What if a member of your business team uses ID Theft to place the blame on your business? We urge…

    Read More
     Identity Theft – Part III:<br><h2>Could your employees make you responsible?</h2>
  • EIDL vs PPP Loans from the SBA:

    We decode the alphabet soup of government acronyms

    Among all the talk of this and that SBA loans to help business activities, we thought we’d cut through the clutter of acronyms. For background information, read this post first to understand the basics. First of all, an EIDL (Economic Injury Disaster Loans) isn’t new. It’s an existing program administered through the Small Business Administration…

    Read More
     EIDL vs PPP Loans from the SBA:<br><h2>We decode the alphabet soup of government acronyms </h2>
  • SBA Loans – What’s the difference?:

    We explain the difference between business loans

    It seems as though every business has an interest in obtaining some help from the SBA. While the process is complicated, the options are not. To help you decide which type of loan you may need, we offer the summary below. Bear in mind that this is not a DIY project. We’re here to help.

    Read More
     SBA Loans – What’s the difference?:<br><h2>We explain the difference between business loans</h2>
  • SBA Disaster Loans- Are they right for your business?:

    We'll show you how they work

    Due to the Coronavirus problems, we’ve received a bunch of questions from business owners about SBA Loans. The slide show below will walk you thru: Who can qualify, What are the requirements,  What are the terms,  and how we can help you apply    

    Read More
     SBA Disaster Loans- Are they right for your business?:<br><h2>We'll show you how they work</h2>
  • Small Business Alert!:

    New rules apply to certain unemployment claims!

    Don’t fall for newest IRS scam

    Read More
     Small Business Alert!:<br><h2>New rules apply to certain unemployment claims!</h2>
  • The truth about price-cutting- it’s not what you think:

    Watch as we crunch the numbers - you'll be shocked

    Sales are down, so we need to cut prices right? Not necessarily! The truth illustrated in the video below shows that price-cutting is almost never the way to grow profits. The video shows that, at a 35% profit margin, a 10% price cut means you must increase sales by 40% just to stay even. Hard…

    Read More
     The truth about price-cutting- it’s not what you think:<br><h2>Watch as we crunch the numbers - you'll be shocked</h2>
  • Out with the old – in with the new 2020 mileage rates:

    Deduction rates change for 2020!

    It’s easy to forget about the business use of your personal car. Here’s how to calculate this deduction for all your business miles.

    Read More
     Out with the old – in with the new 2020 mileage rates:<br><h2>Deduction rates change for 2020!</h2>
  • Christmas gifts and their tax benefits:

    how to let Uncle Sam help with your giving

    Holiday parties and gifts can help show your appreciation and provide tax breaks With Thanksgiving behind us, the holiday season is in full swing. At this time of year, your business may want to show its gratitude to employees and customers by giving them gifts or hosting holiday parties. It’s a good idea to understand…

    Read More
     Christmas gifts and their tax benefits:<br><h2>how to let Uncle Sam help with your giving</h2>
  • Hitting the target with the Business Income Deduction:

    also known as QBI (Qualified Business Income)

    The new deduction of 20% of qualified business income (QBI) has been a source of confusion for clients (and accountants as well). But given that this is a deduction that you can obtain without spending additional money from your business, it’s well worth some effort to understand. You can find what defines a SSTB (see…

    Read More
     Hitting the target with the Business Income Deduction:<br><h2>also known as QBI (Qualified Business Income)</h2>
  • Sell your C-Corp business and pay no tax?:

    It's possible under Section 1202

    Section 1202 allows you to sell qualified small business stock (QSBS) on a tax-free basis! Now, add to this no-tax-on-sale benefit to the 21 percent corporate tax rate from the Tax Cuts and Jobs Act, and you have a significant tax planning opportunity. Let’s just suppose the following: You sell your C corporation stock. The…

    Read More
     Sell your C-Corp business and pay no tax?:<br><h2>It's possible under Section 1202</h2>
  • Barter – Yes, it’s taxable:

    But, the after-tax profit may be greater than you realize

    Bartering: A taxable transaction even if your business exchanges no cash It’s good to read the above sentence a couple of times before proceeding to the rest of this post. A small local business may find it beneficial to barter for goods and services instead of paying cash for them. If your business engages in…

    Read More
     Barter – Yes, it’s taxable:<br><h2>But, the after-tax profit may be greater than you realize</h2>
  • Wayfair-you’ve got just what I don’t need:

    Why you're paying sales tax on internet purchases

    I doubt there’s a more common question that I get from business owners that sell a product than -“How does the Supreme Court Wayfair decision affect me collecting sales tax from the products that I sell outside of Georgia?” Books have been written on this, but the short version is that until the recent Supreme…

    Read More
     Wayfair-you’ve got just what I don’t need:<br><h2>Why you're paying sales tax on internet purchases</h2>
  • Know your enemy’s plan- Read his audit guide:

    What if you could read the IRS' audit guide

      In chess (as in business), it’s good to be able to think three moves ahead. This is especially true when dealing with IRS auditors. Wouldn’t it be nice if you could read the plan on how they’ll review your books weeks before they came for their appointment? Well wish no more – this information…

    Read More
     Know your enemy’s plan- Read his audit guide:<br><h2>What if you could read the IRS' audit guide </h2>
  • Methods of Asset Protection:

    specific steps you can take today

    We ought to be always learning about most everything in life. But it’s especially important to keep current on ways to protect the assets that you’ve worked so hard for over the years. It today’s litigious climate you can’t be too careful. The audio podcast below describes how to do this. Although intended for Doctors,…

    Read More
     Methods of Asset Protection:<br><h2>specific steps you can take today</h2>
  • Tax Reform’s effect on meal deductions:

    12 different types of business meals

    We’ve published a lot of this topic but sometimes less is more. On the chart below, we take 12 different types of business meals and show how tax reform affects your tax deduction. Remember, you still need to document the 5 W’s to make the deduction withstand IRS scrutiny:   Who What (dollar amount and…

    Read More
     Tax Reform’s effect on meal deductions:<br><h2>12 different types of business meals </h2>
  • Cliff notes of the new tax law:

    Our cheat sheet guide to tax reform

    Most clients don’t really need to know all the aspects of Tax Reform. But a quick reference guide can be helpful. From the new rules on alimony to 529 plans to mortgage interest limitations to meals and entertainment and the new 20% business income deduction – here’s the tip sheet you’ll want to print and keep…

    Read More
     Cliff notes of the new tax law:<br><h2>Our cheat sheet guide to tax reform</h2>
  • The biggest no-brainer for 2019 tax planning:

    It's never too early to start saving 2019 taxes

      We’re in the new year now. and it’s never too early to start saving taxes. The reason we call this the “no-brainer” of tax planning is simple.      Amounts that are timely contributed to your Simple-IRA, 401(k), SEP-IRA, etc. are fully deductible, These amounts enjoy tax-deferred growth (the 8th wonder of the financial…

    Read More
     The biggest no-brainer for 2019 tax planning:<br><h2>It's never too early to start saving 2019 taxes</h2>
  • What a difference a name makes!:

    Are you a dealer or investor? Here's how to tell the difference!

    How you define “Real Estate Investor” and “Real Estate Dealer” can make a huge difference in your taxes. Let’s take a look at how big a difference you can make in the tax bite. Say you have a $90,000 profit on the sale of a property. • Dealer taxes could be as high as $46,017. •…

    Read More
     What a difference a name makes!:<br><h2>Are you a dealer or investor? Here's how to tell the difference!</h2>
  • Is it too late to accrue a bonus for last year?:

    Not if done correctly

    Is there still time to pay 2018 bonuses and deduct them on your 2018 return? [Editor’s note: This post pertains to bonuses paid to your employees and non-owners. Special rules apply to related parties, so be sure to contact us before venturing into that area. That said, let’s discuss how to reward your team members…

    Read More
     Is it too late to accrue a bonus for last year?:<br><h2>Not if done correctly</h2>
  • Common sense year-end planning:

    Don't forget these basic moves at year end

    7 last-minute tax moves for your business Postpone invoices. If your business uses the cash method of accounting, and it would benefit from deferring income to next year, wait until early 2019 to send invoices. Accrual-basis businesses can defer recognition of certain advance payments for products to be delivered or services to be provided next…

    Read More
     Common sense year-end planning:<br><h2>Don't forget these basic moves at year end</h2>
  • Tis the season to deduct Holiday gifts and parties:

    Make sure you follow these rules to lock down your deduction

    When holiday gifts and parties are deductible or taxable The holiday season is a great time for businesses to show their appreciation for employees and customers by giving them gifts or hosting holiday parties. Before you begin shopping or sending out invitations, though, it’s a good idea to find out whether the expense is tax…

    Read More
     Tis the season to deduct Holiday gifts and parties:<br><h2>Make sure you follow these rules to lock down your deduction</h2>
  • Out with the old – in with the new 2019 mileage rates:

    Deduction rates go up for 2019!

    It’s easy to forget about the business use of your personal car. Here’s how to calculate this deduction for all your business miles.

    Read More
     Out with the old – in with the new 2019 mileage rates:<br><h2>Deduction rates go up for 2019!</h2>
  • Hiring your child in your business:

    It pays to keep it all in the family

    How it pays to keep it all in the family!

    Read More
     Hiring your child in your business:<br><h2>It pays to keep it all in the family</h2>
  • What did the IRS get from the 1.3 trillion Omnibus Bill?:

    2,232 pages =$528,000,000 spending per page

    What IRS got from the new spending bill

    Read More
     What did the IRS get from the 1.3 trillion Omnibus Bill?:<br><h2>2,232 pages =$528,000,000 spending per page</h2>
  • How about a bonus for 2017?:

    IRS expands bonus depreciation for tax year 2017

    IRS expands bonus depreciation for tax year 2017

    Read More
     How about a bonus for 2017?:<br><h2>IRS expands bonus depreciation for tax year 2017</h2>
  • Has the deduction for business entertainment been eliminated?:

    In some cases, the answer is yes

    Has the deduction for business entertainment been eliminated?

    Read More
     Has the deduction for business entertainment been eliminated?:<br><h2>In some cases, the answer is yes</h2>
  • What if I don’t file a 1099?:

    New 2017 penalties apply

    Who must file form 1099?

    Read More
     What if I don’t file a 1099?:<br><h2>New 2017 penalties apply</h2>
  • Summary of key provisions of tax reforms:

    Remember our "95% rule"

    Remember our “95% rule” in your 22017 planning

    Read More
     Summary of key provisions of tax reforms:<br><h2>Remember our " width="542" height="292" />
  • Should you buy a business vehicle before year end?:

    Our advice on buying a business auto now or next year:

    Our advice on buying a business auto now or next year

    Read More
     Should you buy a business vehicle before year end?:<br><h2>Our  advice on buying a business auto now or next year:</h2>
  • Out with the old – in with the new 2018 mileage rates:

    Deduction rates go up for 2018!

    It’s easy to forget about the business use of your personal car. Here’s how to calculate this deduction for all your business miles.

    Read More
     Out with the old – in with the new 2018 mileage rates:<br><h2>Deduction rates go up for 2018!</h2>
  • Great advice for every business owner:

    You can't say it any better than this.

    Great advice for every business owner

    Read More
     Great advice for every business owner:<br><h2>You can't say it any better than this.</h2>
  • How a spouse-owned business can reduce your tax bill:

    In husband-wife businesses - who takes the money can make a big difference.

    In husband-wife businesses – who takes the money can make a big difference.

    Read More
     How a spouse-owned business can reduce your tax bill:<br><h2>In husband-wife businesses - who takes the money can make a big difference.</h2>
  • How to find the AFR. . .PDQ:

    how knowing the IRS' AFR can save you money

    How to use the AFR to save taxes.

    Read More
     How to find the AFR. . .PDQ:<br><h2>how knowing the IRS' AFR can save you money</h2>
  • The many faces of tax-based costs:

    There actually are times that you can deduct more than you paid for an asset.

    The many faces of tax-based costs

    Read More
     The many faces of tax-based costs:<br><h2>There actually are times that you can deduct more than you paid for an asset.</h2>
  • Help from the last place you’d expect it:

    IRS website contains valid warning on ransomware

    Most of us have heard about ransomware and the damage it can cause.  The newest phishing malware purports to be a questionnaire from the IRS and FBI. Contrary to what you’d expect, the IRS’ website has a helpful description and warning which is reproduced below. WASHINGTON — The Internal Revenue Service today warned people to avoid a…

    Read More
     Help from the last place you’d expect it:<br><h2>IRS website contains valid warning on ransomware</h2>
  • How to avoid (in some cases) the 50% reduction on meals.:

    Tax Court reveals how to "supersize" your deduction for meals

    How to “supersize” your deduction for meals

    Read More
     How to avoid (in some cases) the 50% reduction on meals.:<br><h2>Tax Court reveals how to " width="542" height="312" />
  • Loans from your company:

    Are they really a good idea?

    Are loans from your company a good idea?

    Read More
     Loans from your company:<br><h2>Are they really a good idea?</h2>
  • Cyber security – is your network at risk:

    Get the latest news from our podcast.

    Is your business network at risk for a cyber attack?

    Read More
     Cyber security – is your network at risk:<br><h2>Get the latest news from our podcast.</h2>
  • Hiring your children – Part II

    Hiring family members may save your company some payroll taxes!

    Read More
    Hiring your children – Part II
  • Keeping it all in the family – Part 1:

    Hiring your children can save taxes for your business and your family.

    Hiring your children can save taxes for your business and your family

    Read More
     Keeping it all in the family – Part 1:<br><h2>Hiring your children can save taxes for your business and your family.</h2>
  • Commuting vs Business mileage

    We get a lot of questions about what constitutes business mileage (deductible) and what is defined as a commuting expense (non-deductible) – here’s some answers.

    Read More
    Commuting vs Business mileage
  • Paying for employee education:

    What are the most tax-advantaged ways to reimburse employees’ education expenses?

    Reimbursing employees for education expenses can both strengthen the capabilities of your staff and help you retain them.

    Read More
     Paying for employee education:<br><h2>What are the most tax-advantaged ways to reimburse employees’ education expenses?</h2>
  • Do you have a Nexus:

    It's not a new car, but a business presence.

    Operating in another state means possibly being subject to taxation in that state.

    Read More
     Do you have a Nexus:<br><h2>It's not a new car, but a business presence.</h2>
  • Bartering – cash free, but is it tax free?

    Bartering might seem like something that happened only in ancient times, but the practice is still common today

    Read More
    Bartering – cash free, but is it tax free?
  • Quick Tax Facts for 2017

    Quick Tax Facts for 2017

    Read More
    Quick Tax Facts for 2017
  • Safe harbors from the IRS storm:

    These are your personal "safe zones" from the tax man

    These are your personal “safe zones” from the tax man when you use depreciation.

    Read More
     Safe harbors from the IRS storm:<br><h2>These are your personal " width="542" height="292" />
  • A primer on basic economics in starting a business:

    Guest Editor Dr. Walter Williams' commentary on starting a business

    Guest Editor Dr. Walter Williams’ commentary on starting a business

    Read More
     A primer on basic economics in starting a business:<br><h2>Guest Editor Dr. Walter Williams' commentary on starting a business</h2>
  • Tax Credits for Employers

    How to save taxes by smart hiring.

    Read More
    Tax Credits for Employers
  • Tax credits for small businesses:

    If you're eligible, these credits could equal huge savings!

    Tax credits reduce tax liability dollar-for-dollar, making them particularly valuable. One of them might not be available after 2017.

    Read More
     Tax credits for small businesses:<br><h2>If you're eligible, these credits could equal huge savings!</h2>
  • Retro-active tax planning after the year ends:

    It's not only possible but, in some cases, quite easy!

    SEPs are sometimes regarded as the no-brainer for high-income small-business owners who don’t currently have tax-advantaged retirement plans.

    Read More
     Retro-active tax planning after the year ends:<br><h2>It's not only possible but, in some cases, quite easy!</h2>
  • Extra deductions for (certain types) of production:

    We explain an oft-overlooked deduction.

    We explain an oft-overlooked deduction.

    Read More
     Extra deductions for (certain types) of production:<br><h2>We explain an oft-overlooked deduction.</h2>
  • Why 2016 may be a good tax year to take bonus depreciation:

    another way SCA is looking out for you!

    Why bonus depreciation can be very helpful.

    Read More
     Why 2016 may be a good tax year to take bonus depreciation:<br><h2>another way SCA is looking out for you!</h2>
  • HSAs reborn for 2017

    Small businesses get a break for helping with employee’s healthcare.

    Read More
    HSAs reborn for 2017
  • Out with the old – in with the new mileage rates:

    IRS thinks your deduction is too high!

    It’s easy to forget about the business use of your personal car. Here’s how to calculate this deduction for all your business miles.

    Read More
     Out with the old – in with the new mileage rates:<br><h2>IRS thinks your deduction is too high!</h2>
  • More year-end strategies to reduce your tax bill:

    Should you buy business assets in December?

    Should you buy business assets in December?

    Read More
     More year-end strategies to reduce your tax bill:<br><h2>Should you buy business assets in December?</h2>
  • Get a year-end deduction now and pay for it next year!

    Here’s how to deduct the expense now but pay it later.

    Read More
    Get a year-end deduction now and pay for it next year!
  • How to deduct travel & meals with an IRS guaranteed-dollar amount:

    IRS announces new per-diem rates for travel deductions for 2017

    How to use the IRS per-diem amounts for travel expense.

    Read More
     How to deduct travel & meals with an IRS guaranteed-dollar amount:<br><h2>IRS announces new per-diem rates for travel deductions for 2017</h2>
  • Replacing a business vehicle?:

    we'll show you the tax-smart way to switch autos

    Are you being tax-smart to trade in your old business vehicle?

    Read More
     Replacing a business vehicle?:<br><h2>we'll show you the tax-smart way to switch autos</h2>
  • Selling your business?:

    Installment sale reporting can defer a major portion of the tax.

    Selling your business? Installment reporting may save both time and tax.

    Read More
     Selling your business?:<br><h2>Installment sale reporting can defer a major portion of the tax.</h2>
  • New overtime rules – summarized in one page:

    What you don't know can hurt you (a lot).

    The new overtime rules- a one page sumary.

    Read More
     New overtime rules – summarized in one page:<br><h2>What you don't know can hurt you (a lot).</h2>
  • Salaries for owners of S-Corporations:

    just what is meant by reasonable compensation?

    As a shareholder and an employee. your corporation pays you a salary. Is it reasonable in the eyes of the IRS?

    Read More
     Salaries for owners of S-Corporations:<br><h2>just what is meant by reasonable compensation?</h2>
  • The new overtime law:

    what's the real effect on wage earners?

    what’s the real effect on wage earners?

    Read More
     The new overtime law:<br><h2>what's the real effect on wage earners?</h2>
  • Combining business and vacation travel:

    What can you deduct?

    If you combine a business trip with a vacation – what can you deduct?

    Read More
     Combining business and vacation travel:<br><h2>What can you deduct?</h2>
  • The 4 Ways to Grow Your Business
    Read More
    The 4 Ways to Grow Your Business
  • The most confusing IRS form of this tax season:

    Your company may be responsible for preparing the 1095.

    Your company may be responsible for preparing the 1095. See below to find out if you’re responsible.

    Read More
     The most confusing IRS form of this tax season:<br><h2>Your company may be responsible for preparing the 1095.</h2>
  • Out with the old – in with the new mileage rates:

    2016 mileage rate decreases

    It’s easy to forget about the business use of your personal car. Here’s how to calculate this deduction for all your business miles.

    Read More
     Out with the old – in with the new mileage rates:<br><h2>2016 mileage rate decreases</h2>
  • Tax Facts:

    bookmark this page for a quick reference

    Bookmark this page for a quick reference to the numbers you’ll need this year.

    Read More
     Tax Facts:<br><h2>bookmark this page for a quick reference</h2>
  • How to find the AFR. . .PDQ:

    how knowing the IRS' AFR can save you money

    How to use the AFR to save taxes.

    Read More
     How to find the AFR. . .PDQ:<br><h2>how knowing the IRS' AFR can save you money</h2>
  • Why 1099s are a big deal:

    new steeper penalties in effect for this year

    What’s the big deal with 1099s?

    Read More
     Why 1099s are a big deal:<br><h2>new steeper penalties in effect for this year</h2>
  • Now you see it . . .now you don’t:

    How Congress is making last year's deductions disappear

    A magic trick by Congress!

    Read More
     Now you see it . . .now you don’t:<br><h2>How Congress is making last year's deductions disappear</h2>
  • Understanding the alphabet soup of retirement planning:

    A guide to HSAs, HRAs,HRPs, and FSAs

    Despite Obamacare, there is a way that you may be able to reimburse your employee’s medical costs.

    Read More
     Understanding the alphabet soup of retirement planning:<br><h2>A guide to HSAs, HRAs,HRPs, and FSAs</h2>
  • Half Truths about your W-2:

    What you don't know can hurt you.

    Urban legends abound on this subject. Here are the current rules.

    Read More
     Half Truths about your W-2:<br><h2>What you don't know can hurt you.</h2>
  • Get remote support instantly with ScaSecure.

    Got a problem with your accounting software. Get remote support instantly!

    Read More
    Get remote support instantly with ScaSecure.
  • IRS allows a “mulligan” on Obamacare penalties:

    Stay of execution until July, 2015, for small-business clients!

    Occasionally IRS will surprise you and do something that actually makes common sense for our small business clients.

    Read More
     IRS allows a “mulligan” on Obamacare penalties:<br><h2>Stay of execution until July, 2015, for small-business clients!</h2>
  • Repair Expenses:

    It just got really complicated . . .

    New IRS regs add time and expense to every business’ depreciation calculation.

    Read More
     Repair Expenses:<br><h2>It just got really complicated . . .</h2>
  • Minimum Wage Changes for 2014:

    Have you checked your payroll?

    Here’s an update on the changes in the Minimum Wage amounts for the coming year.

    Read More
     Minimum Wage Changes for 2014:<br><h2>Have you checked your payroll?</h2>
  • Out with the old – in with the new mileage rates:

    2015 boasts higher mileage rates!

    It’s easy to forget about the business use of your personal car. Here’s how to calculate this deduction for all your business miles.

    Read More
     Out with the old – in with the new mileage rates:<br><h2>2015 boasts higher mileage rates!</h2>
  • S-Corp Owners – IRS rules in your favor!

    Here’s the good news – as of December 19, 2014, IRS has updated their website with specific instructions on this topic.

    Read More
    S-Corp Owners – IRS rules in your favor!
  • Year-End Planning Information for 2014 & 1015

    Here’s a complete list of qualified plan limitations, You may want to bookmark this page in your browser for use now and next year.

    Read More
    Year-End Planning Information for 2014 & 1015
  • Pivot Table and Reports

    Do you have the concept of Excel Pivot Tables but need help in creating reports? This video can help.

    Read More
  • Update on Corporate inversions – President blames accountants!

    [Editor’s note:] To fully understand why accountants react strongly to being blamed for corporate inversion, please read Part I – Corporate Inversion the new buzz word of the statist. Well,well,well. It seems like Washington is keeping their buck-passing deceptive skills honed to a sharp edge.  The President has gone so far as to blame CPAs and…

    Read More
    Update on Corporate inversions – President blames accountants!
  • Corporate inversions – the new buzz word of the statist

    Corporate inversions – the new buzz word of the statist

    Read More
    Corporate inversions – the new buzz word of the statist
  • Keeping it “All in the Family” Part I

    If you have a family business – here’s how to save taxes and keep profits in the family circle.

    Read More
    Keeping it “All in the Family” Part I
  • Timeline of Obamacare changes – It’s not an easy task

    Need to know when the Obamacare provisions may effect your business? Here’s the answer!

    Read More
    Timeline of Obamacare changes – It’s not an easy task
  • Tutorial of Tax-Sheltered Savings Plans for 2014

    Some of the most powerful planning tools are the tax-sheltered savings plans available to almost every business. But these tools won’t help you if you don’t know how they work. We’ve published an executive summary for you below. If you’d like to pay less tax and increase your retirement fund, review the chart below. We…

    Read More
    Tutorial of Tax-Sheltered Savings Plans for 2014
  • Does your “heartbleed” for Google & Yahoo?

    The newest computer bug that could enable hackers to obtain your password, credit card data, and other encrypted data is known as the Heartbleed SSL exploit. Among those affected are Google, Google Plus, Yahoo, and a host of other major players in the web services market. You can read about what it is at this…

    Read More
    Does your “heartbleed” for Google & Yahoo?
  • Could America learn from this country’s workers?

    French citizens speak out about the economic reforms that they see hurting their nation. The young, the productive, and the entrepreneurial types seem to be deserting France in large numbers and relocating to more free-market based countries. We wonder if America (as it begins to pass similar reforms) will learn from the testimony of those…

    Read More
    Could America learn from this country’s workers?
  • Georgia’s default gives business owners a year-end surprise

    Here’s a belated holiday gift from Georgia and Washington to employers.

    Read More
    Georgia’s default gives business owners a year-end surprise
  • JFK -Advocate of tax cuts to create jobs

    A dollar released from taxation will create a new job-JFK

    Read More
    JFK -Advocate of tax cuts to create jobs
  • Do you still have to depreciate that thumb drive?

    IRS publishes new depreciation guidelines for 2014!

    Read More
    Do you still have to depreciate that thumb drive?
  • Hidden traps in Obamacare for 2013

    We show you how to avoid pitfalls and traps in Obamacare.

    Read More
    Hidden traps in Obamacare for 2013
  • Have under 50 employees? You still have an Obamacare deadline October 1!

    With just one employee you could have an Obamacare report due!

    Read More
    Have under 50 employees? You still have an Obamacare deadline October 1!
  • More tax deductions that you may have missed

      Since our first post on deductions that you may have missed, several more items have come to mind that we find clients tend to forget or just don’t know that they’re existent. Most clients either volunteer for some charity work, serve on the boards of private or public foundations, help out at a shelter,…

    Read More
    More tax deductions that you may have missed
  • This post is rated PG (Public Guidance & Oversight for IRS Abuses).

    How IRS’ misuse of a credit card affects your tax planning

    Read More
    This post is rated PG (Public Guidance & Oversight for IRS Abuses).
  • Why many cities are going broke

    Detroit is in the news since their bankruptcy filing, but the bigger question that we should be asking is why large cities are having problems.

    Read More
    Why many cities are going broke
  • Words of wisdom from a business owner

    A great business quote from the author of Good to Great

    Read More
    Words of wisdom from a business owner
  • A tax deduction that you may have missed

    It’s easy to forget about the business use of your personal car. Here’s how to calculate this deduction for all your business miles.

    Read More
    A tax deduction that you may have missed
  • Under the Items for next year’s budget category . . .
    Read More
    Under the Items for next year’s budget category . . .
  • Sequestration – Numbers show the truth

    Hover your mouse over the chart for a long-term analysis.

    Read More
    Sequestration – Numbers show the truth
  • Why your 401(k) is only the beginning!

    A 401(k) is just the beginning of the good things that you can do for your employees and for yourself. Take a look at the data below.

    Read More
    Why your 401(k) is only the beginning!
  • Understanding the Free Market=Business Success

    If you understand how the free markets should work, you’ll tend to do a lot better in business. Here’s one of the greatest living speakers on the subject – Dr. Walter Williams.  

    Read More
    Understanding the Free Market=Business Success
  • IRS offers a clean slate for the past. . .

    Last year’s tax returns included two new questions. They both pertain to 1099 payments and, if unanswered, prevented you from E-Filing. If you’ve worried about 1099 vs employee problems with the IRS, there’s now a chance to wipe the slate of the past clean and start over. IRS is willing to forgo the audit of…

    Read More
    IRS offers a clean slate for the past. . .
  • Doing business away from your home state? Here’s a handy tool for all 50 states,

    Did you ever wish that when you do business in another state, you could quickly check the forms, filing requirements, etc. for that state with one click? The tool below should be just what you need. Using the scroll bars, find the state you wish to check and then click on it. You’ll be linked…

    Read More
    Doing business away from your home state? Here’s a handy tool for all 50 states,
  • Small business dodges an IRS bullet

    It might be more appropriate to say that we small business owners dodged a boomerang because this issue is coming back in 2014. Our regular readers know that we sent a red alert out a few weeks ago about the most harmful tax regs that we’ve seen in a long time. You can refresh your…

    Read More
    Small business dodges an IRS bullet
  • Will your Key Data survive a disaster?

    By Guest Editor Rick Viall  rviall@viallins.com A good friend of mine who is a claims adjuster is seeing it over and over. People have lost their business data in hurricane Sandy. Even if they can dry out their place of business and get restocked they will not be able to file a tax return and…

    Read More
    Will your Key Data survive a disaster?
  • 5 Years to write off a $100 thumb drive? We’re not kidding on this one.

    Now is the time to “repair” the deduction for repairs! You’ll have a hard time believing this one, but here are the facts. We’ve sent our business clients the following letter to help them understand the problem they face for 2012 taxes. To all business property owners: I am told the 2010 US Census reports…

    Read More
    5 Years to write off a $100 thumb drive? We’re not kidding on this one.
  • Your Cheating Chart (from the Journal of Accountancy)

    To paraphrase the country western song, your cheating chart is going to tell on you! Fellow CPA Carlton Collins shows common ways that data presentation via charts can be unethically manipulated to change the reader’s conclusions Don’t be fooled by government (or other) data that sounds too good to be true. Learn to be discerning…

    Read More
    Your Cheating Chart (from the Journal of Accountancy)
  • IRS begins a “Hiring Frenzy”

    See the second video if you still believe it’s possible to administer the health care debacle.   Here’s just how easy it is to calculate.

    Read More
    IRS begins a “Hiring Frenzy”
  • A tutorial for business owners on the new Medicare tax

    An individual is liable for Additional Medicare Tax if the individual’s wages, other compensation, or self-employment income
    (together with that of his or her spouse if filing a joint return) exceed the threshold amount for the individual’s filing status:

    Read More
    A tutorial for business owners on the new Medicare tax
  • Hire a Vet? Time is running out for tax credit.

    Employers Need to Act Soon to Get Expanded   Credit for Hiring Vets   Special Edition Tax Tip 2012-11 Employers that hired unemployed veterans during late 2011 and early 2012 had an expanded period to request the required certification for claiming the expanded Work Opportunity Tax Credit (WOTC). That expanded period ends on Tuesday, June…

    Read More
    Hire a Vet? Time is running out for tax credit.
  • Why budgets have no value

    You heard us right-they have no value. Jack Welch the brilliant CEO of General Electric agrees with me (don’t confuse him with the current clown at the head of GE). Welch did away with all the wasted weeks of the budget process and focused on creating projections instead. He then held the departments accounting to the projection of income and expense that they participated in creating.

    Read More
    Why budgets have no value
  • Hidden provisions in the Extended Payroll Tax Cut

    Payroll Tax Cut Extended for All of 2012   On February 22, 2012, the Temporary Payroll Tax Cut Continuation Act of 2011 was permanently extended for all of 2012. This extends the two percentage point payroll tax cut for employees, continuing the reduction of their social security tax withholding rate from 6.2 percent to 4.2…

    Read More
    Hidden provisions in the Extended Payroll Tax Cut
  • Independent Contractor vs. Employee – IRS throws a bargaining chip into the mix

    The IRS has launched a new program that may help employers to resolve past worker classification issues (Independent Contractor vs. Employee) at a relatively low tax cost by voluntarily reclassifying their workers. As regular readers know, IRS’ attitude on this issue has been less than helpful in the past. Personally, I do not know of…

    Read More
  • Peachtree users – Here’s how to add the owner’s health insurance to the W-2

    Clients with S-Corps – Don’t forget that you cannot deduct your health insurance costs without loading them onto your W-2. Here’s how to do it.

    Read More
    Peachtree users – Here’s how to add the owner’s health insurance to the W-2
  • IRS targets Quickbooks and Peachtree users and makes outrageous demands!

    We’ve known for some time of the IRS’ stated intent to educate at least one member of every audit team with advanced knowledge of Quickbooks and Peachtree Accounting. Given that these two programs have over 80% of the small business software market, one could understand this goal. The unsettling news is that IRS intends to…

    Read More
    IRS targets Quickbooks and Peachtree users and makes outrageous demands!
  • The one place that you should never borrow money from

      Here’s some good advice from the iowabiz.com site about the worst place to borrow money.  [The 2% IRS penalty referred to below is equal to an APR of about 25% on a 30 day loan!] by Joe KristanDecember 1, 2011 Every entrepreneur struggling to stave off hungry creditors has probably taken a wistful look…

    Read More
  • The theory of relativity is in the tax code

    This is not the theory discovered by Einstein, but the one that states that certain tax advantages may be disallowed if you sell an asset to someone (or a company) that the tax code calls  a “related party.” Simply put, selling a capital asset at a loss to any of the following entities will cause the loss…

    Read More
    The theory of relativity is in the tax code
  • New tax credit for hiring vets

      President Obama has signed into law increased tax credits for hiring certain veterans. The credits are part of the Work Opportunity Credit, which requires that employers certify through state jobs agencies that employees qualify for the credits. The credit rules, effective for veterans hired as new employees: – A maximum $4,800 credit (40% of the…

    Read More
  • Why most clients are in violation of their Quickbooks license and don’t even realize it!

    As if the IRS wasn’t enough to deal with, now Quickbooks owners have another hidden trap that Intuit is just waiting for you to stumble into. The trap centers around the wording in the licensing agreement. Simply put, it’s not a per user license like most multi-user software. Instead, it’s a per person license. Let…

    Read More
  • Tax breaks of C Corporations

    Income splitting. The government taxes the first $50,000 of corporate profits at a lower rate than the individual owners’ tax rates. Therefore, you one should split your C corporation’s income between yourself (or your S Corp) and the C corporation. This allows you to pay taxes on the salary you pay yourself at your individual…

    Read More
  • US Treasury indicates about 70% of millionaires to be hit with new tax are small business owners.

      Depending on which definition you choose of what defines a “small business owner,” any new “millionaire tax” is going to disproportionately affect the group that creates the most new jobs in our country. A new US Treasury study indicates that over 70% percent of so-called millionaires hit with this type of tax are small business owners. Almost every business…

    Read More
  • Can you use your 401(k) to start a business?

    The answer is a very qualified yes. However, it’s not as simple as writing a check from your IRA. This Wall Street Journal article  gives some basic guidelines.  As the article clearly states, don’t do this on your own. Call us for professional help.Article excerpt “There are ways to use IRA and 401(k) funds to finance…

    Read More
  • Is your business safe from Covid lawsuits?:

    Gov Kemp signs new law for liability protection

     Is your business safe from Covid lawsuits?:<br><h2>Gov Kemp signs new law for liability protection</h2>

    Our friends at the law firm of Berman, Fink Van Horn PC just published an excellent article on protecting your business from Covid lawsuits. Although written with healthcare providers in mind, the legal guidelines and protective acts could apply to any business. Attorney Kenneth Winkler offers the following summary of the new Georgia law: Under…

    Read More
  • Rioting damage to your business:

    You may want to consider a casualty loss

     Rioting damage to your business:<br><h2>You may want to consider a casualty loss</h2>

        I recently spoke to a client in North Atlanta whose business storefront suffered damage from the riots in the city.  Although a deductible casualty loss was the last thing on their mind, it might be helpful to cover this topic as it relates to damage to your business property. The recent riots in…

    Read More
  • Do you wish that people gave you more credit?:

    Work Opportunity Tax Credit extended through 2020

     Do you wish that people gave you more credit?:<br><h2>Work Opportunity Tax Credit extended through 2020</h2>

    Work Opportunity Tax Credit extended through 2020 If you’re a business owner, be aware that a recent tax law extended a credit for hiring individuals from one or more targeted groups. Employers can qualify for a valuable tax credit known as the Work Opportunity Tax Credit (WOTC). Generally, an employer is eligible for the credit…

    Read More
  • Small Business Alert!:

    Your largest deduction just decreased by 21%

     Small Business Alert!:<br><h2>  Your largest deduction just decreased by 21%                                                        </h2>

    Don’t fall for newest IRS scam

    Read More
  • Identity Theft – Part III:

    Could your employees make you responsible?

     Identity Theft – Part III:<br><h2>Could your employees make you responsible?</h2>

    In parts one and two of our ID Theft series, the focus was on an outsider taking your money. Today our guest editor, Judge Kathy Brown Valencia, focuses on a different aspect of ID theft. What if a member of your business team uses ID Theft to place the blame on your business? We urge…

    Read More
  • EIDL vs PPP Loans from the SBA:

    We decode the alphabet soup of government acronyms

     EIDL vs PPP Loans from the SBA:<br><h2>We decode the alphabet soup of government acronyms </h2>

    Among all the talk of this and that SBA loans to help business activities, we thought we’d cut through the clutter of acronyms. For background information, read this post first to understand the basics. First of all, an EIDL (Economic Injury Disaster Loans) isn’t new. It’s an existing program administered through the Small Business Administration…

    Read More
  • SBA Loans – What’s the difference?:

    We explain the difference between business loans

     SBA Loans – What’s the difference?:<br><h2>We explain the difference between business loans</h2>

    It seems as though every business has an interest in obtaining some help from the SBA. While the process is complicated, the options are not. To help you decide which type of loan you may need, we offer the summary below. Bear in mind that this is not a DIY project. We’re here to help.

    Read More
  • SBA Disaster Loans- Are they right for your business?:

    We'll show you how they work

     SBA Disaster Loans- Are they right for your business?:<br><h2>We'll show you how they work</h2>

    Due to the Coronavirus problems, we’ve received a bunch of questions from business owners about SBA Loans. The slide show below will walk you thru: Who can qualify, What are the requirements,  What are the terms,  and how we can help you apply    

    Read More
  • Small Business Alert!:

    New rules apply to certain unemployment claims!

     Small Business Alert!:<br><h2>New rules apply to certain unemployment claims!</h2>

    Don’t fall for newest IRS scam

    Read More
  • The truth about price-cutting- it’s not what you think:

    Watch as we crunch the numbers - you'll be shocked

     The truth about price-cutting- it’s not what you think:<br><h2>Watch as we crunch the numbers - you'll be shocked</h2>

    Sales are down, so we need to cut prices right? Not necessarily! The truth illustrated in the video below shows that price-cutting is almost never the way to grow profits. The video shows that, at a 35% profit margin, a 10% price cut means you must increase sales by 40% just to stay even. Hard…

    Read More
  • Out with the old – in with the new 2020 mileage rates:

    Deduction rates change for 2020!

     Out with the old – in with the new 2020 mileage rates:<br><h2>Deduction rates change for 2020!</h2>

    It’s easy to forget about the business use of your personal car. Here’s how to calculate this deduction for all your business miles.

    Read More
  • Christmas gifts and their tax benefits:

    how to let Uncle Sam help with your giving

     Christmas gifts and their tax benefits:<br><h2>how to let Uncle Sam help with your giving</h2>

    Holiday parties and gifts can help show your appreciation and provide tax breaks With Thanksgiving behind us, the holiday season is in full swing. At this time of year, your business may want to show its gratitude to employees and customers by giving them gifts or hosting holiday parties. It’s a good idea to understand…

    Read More
  • Hitting the target with the Business Income Deduction:

    also known as QBI (Qualified Business Income)

     Hitting the target with the Business Income Deduction:<br><h2>also known as QBI (Qualified Business Income)</h2>

    The new deduction of 20% of qualified business income (QBI) has been a source of confusion for clients (and accountants as well). But given that this is a deduction that you can obtain without spending additional money from your business, it’s well worth some effort to understand. You can find what defines a SSTB (see…

    Read More
  • Sell your C-Corp business and pay no tax?:

    It's possible under Section 1202

     Sell your C-Corp business and pay no tax?:<br><h2>It's possible under Section 1202</h2>

    Section 1202 allows you to sell qualified small business stock (QSBS) on a tax-free basis! Now, add to this no-tax-on-sale benefit to the 21 percent corporate tax rate from the Tax Cuts and Jobs Act, and you have a significant tax planning opportunity. Let’s just suppose the following: You sell your C corporation stock. The…

    Read More
  • Barter – Yes, it’s taxable:

    But, the after-tax profit may be greater than you realize

     Barter – Yes, it’s taxable:<br><h2>But, the after-tax profit may be greater than you realize</h2>

    Bartering: A taxable transaction even if your business exchanges no cash It’s good to read the above sentence a couple of times before proceeding to the rest of this post. A small local business may find it beneficial to barter for goods and services instead of paying cash for them. If your business engages in…

    Read More
  • Wayfair-you’ve got just what I don’t need:

    Why you're paying sales tax on internet purchases

     Wayfair-you’ve got just what I don’t need:<br><h2>Why you're paying sales tax on internet purchases</h2>

    I doubt there’s a more common question that I get from business owners that sell a product than -“How does the Supreme Court Wayfair decision affect me collecting sales tax from the products that I sell outside of Georgia?” Books have been written on this, but the short version is that until the recent Supreme…

    Read More
  • Know your enemy’s plan- Read his audit guide:

    What if you could read the IRS' audit guide

     Know your enemy’s plan- Read his audit guide:<br><h2>What if you could read the IRS' audit guide </h2>

      In chess (as in business), it’s good to be able to think three moves ahead. This is especially true when dealing with IRS auditors. Wouldn’t it be nice if you could read the plan on how they’ll review your books weeks before they came for their appointment? Well wish no more – this information…

    Read More
  • Methods of Asset Protection:

    specific steps you can take today

     Methods of Asset Protection:<br><h2>specific steps you can take today</h2>

    We ought to be always learning about most everything in life. But it’s especially important to keep current on ways to protect the assets that you’ve worked so hard for over the years. It today’s litigious climate you can’t be too careful. The audio podcast below describes how to do this. Although intended for Doctors,…

    Read More
  • Tax Reform’s effect on meal deductions:

    12 different types of business meals

     Tax Reform’s effect on meal deductions:<br><h2>12 different types of business meals </h2>

    We’ve published a lot of this topic but sometimes less is more. On the chart below, we take 12 different types of business meals and show how tax reform affects your tax deduction. Remember, you still need to document the 5 W’s to make the deduction withstand IRS scrutiny:   Who What (dollar amount and…

    Read More
  • Cliff notes of the new tax law:

    Our cheat sheet guide to tax reform

     Cliff notes of the new tax law:<br><h2>Our cheat sheet guide to tax reform</h2>

    Most clients don’t really need to know all the aspects of Tax Reform. But a quick reference guide can be helpful. From the new rules on alimony to 529 plans to mortgage interest limitations to meals and entertainment and the new 20% business income deduction – here’s the tip sheet you’ll want to print and keep…

    Read More
  • The biggest no-brainer for 2019 tax planning:

    It's never too early to start saving 2019 taxes

     The biggest no-brainer for 2019 tax planning:<br><h2>It's never too early to start saving 2019 taxes</h2>

      We’re in the new year now. and it’s never too early to start saving taxes. The reason we call this the “no-brainer” of tax planning is simple.      Amounts that are timely contributed to your Simple-IRA, 401(k), SEP-IRA, etc. are fully deductible, These amounts enjoy tax-deferred growth (the 8th wonder of the financial…

    Read More
  • What a difference a name makes!:

    Are you a dealer or investor? Here's how to tell the difference!

     What a difference a name makes!:<br><h2>Are you a dealer or investor? Here's how to tell the difference!</h2>

    How you define “Real Estate Investor” and “Real Estate Dealer” can make a huge difference in your taxes. Let’s take a look at how big a difference you can make in the tax bite. Say you have a $90,000 profit on the sale of a property. • Dealer taxes could be as high as $46,017. •…

    Read More
  • Is it too late to accrue a bonus for last year?:

    Not if done correctly

     Is it too late to accrue a bonus for last year?:<br><h2>Not if done correctly</h2>

    Is there still time to pay 2018 bonuses and deduct them on your 2018 return? [Editor’s note: This post pertains to bonuses paid to your employees and non-owners. Special rules apply to related parties, so be sure to contact us before venturing into that area. That said, let’s discuss how to reward your team members…

    Read More
  • Common sense year-end planning:

    Don't forget these basic moves at year end

     Common sense year-end planning:<br><h2>Don't forget these basic moves at year end</h2>

    7 last-minute tax moves for your business Postpone invoices. If your business uses the cash method of accounting, and it would benefit from deferring income to next year, wait until early 2019 to send invoices. Accrual-basis businesses can defer recognition of certain advance payments for products to be delivered or services to be provided next…

    Read More
  • Tis the season to deduct Holiday gifts and parties:

    Make sure you follow these rules to lock down your deduction

     Tis the season to deduct Holiday gifts and parties:<br><h2>Make sure you follow these rules to lock down your deduction</h2>

    When holiday gifts and parties are deductible or taxable The holiday season is a great time for businesses to show their appreciation for employees and customers by giving them gifts or hosting holiday parties. Before you begin shopping or sending out invitations, though, it’s a good idea to find out whether the expense is tax…

    Read More
  • Out with the old – in with the new 2019 mileage rates:

    Deduction rates go up for 2019!

     Out with the old – in with the new 2019 mileage rates:<br><h2>Deduction rates go up for 2019!</h2>

    It’s easy to forget about the business use of your personal car. Here’s how to calculate this deduction for all your business miles.

    Read More
  • Hiring your child in your business:

    It pays to keep it all in the family

     Hiring your child in your business:<br><h2>It pays to keep it all in the family</h2>

    How it pays to keep it all in the family!

    Read More
  • What did the IRS get from the 1.3 trillion Omnibus Bill?:

    2,232 pages =$528,000,000 spending per page

     What did the IRS get from the 1.3 trillion Omnibus Bill?:<br><h2>2,232 pages =$528,000,000 spending per page</h2>

    What IRS got from the new spending bill

    Read More
  • How about a bonus for 2017?:

    IRS expands bonus depreciation for tax year 2017

     How about a bonus for 2017?:<br><h2>IRS expands bonus depreciation for tax year 2017</h2>

    IRS expands bonus depreciation for tax year 2017

    Read More
  • Has the deduction for business entertainment been eliminated?:

    In some cases, the answer is yes

     Has the deduction for business entertainment been eliminated?:<br><h2>In some cases, the answer is yes</h2>

    Has the deduction for business entertainment been eliminated?

    Read More
  • What if I don’t file a 1099?:

    New 2017 penalties apply

     What if I don’t file a 1099?:<br><h2>New 2017 penalties apply</h2>

    Who must file form 1099?

    Read More
  • Summary of key provisions of tax reforms:

    Remember our "95% rule"

     Summary of key provisions of tax reforms:<br><h2>Remember our " width="542" height="292" />

    Remember our “95% rule” in your 22017 planning

    Read More
  • Should you buy a business vehicle before year end?:

    Our advice on buying a business auto now or next year:

     Should you buy a business vehicle before year end?:<br><h2>Our  advice on buying a business auto now or next year:</h2>

    Our advice on buying a business auto now or next year

    Read More
  • Out with the old – in with the new 2018 mileage rates:

    Deduction rates go up for 2018!

     Out with the old – in with the new 2018 mileage rates:<br><h2>Deduction rates go up for 2018!</h2>

    It’s easy to forget about the business use of your personal car. Here’s how to calculate this deduction for all your business miles.

    Read More
  • Great advice for every business owner:

    You can't say it any better than this.

     Great advice for every business owner:<br><h2>You can't say it any better than this.</h2>

    Great advice for every business owner

    Read More
  • How a spouse-owned business can reduce your tax bill:

    In husband-wife businesses - who takes the money can make a big difference.

     How a spouse-owned business can reduce your tax bill:<br><h2>In husband-wife businesses - who takes the money can make a big difference.</h2>

    In husband-wife businesses – who takes the money can make a big difference.

    Read More
  • How to find the AFR. . .PDQ:

    how knowing the IRS' AFR can save you money

     How to find the AFR. . .PDQ:<br><h2>how knowing the IRS' AFR can save you money</h2>

    How to use the AFR to save taxes.

    Read More
  • The many faces of tax-based costs:

    There actually are times that you can deduct more than you paid for an asset.

     The many faces of tax-based costs:<br><h2>There actually are times that you can deduct more than you paid for an asset.</h2>

    The many faces of tax-based costs

    Read More
  • Help from the last place you’d expect it:

    IRS website contains valid warning on ransomware

     Help from the last place you’d expect it:<br><h2>IRS website contains valid warning on ransomware</h2>

    Most of us have heard about ransomware and the damage it can cause.  The newest phishing malware purports to be a questionnaire from the IRS and FBI. Contrary to what you’d expect, the IRS’ website has a helpful description and warning which is reproduced below. WASHINGTON — The Internal Revenue Service today warned people to avoid a…

    Read More
  • How to avoid (in some cases) the 50% reduction on meals.:

    Tax Court reveals how to "supersize" your deduction for meals

     How to avoid (in some cases) the 50% reduction on meals.:<br><h2>Tax Court reveals how to " width="542" height="312" />

    How to “supersize” your deduction for meals

    Read More
  • Loans from your company:

    Are they really a good idea?

     Loans from your company:<br><h2>Are they really a good idea?</h2>

    Are loans from your company a good idea?

    Read More
  • Cyber security – is your network at risk:

    Get the latest news from our podcast.

     Cyber security – is your network at risk:<br><h2>Get the latest news from our podcast.</h2>

    Is your business network at risk for a cyber attack?

    Read More
  • Hiring your children – Part II

    Hiring your children – Part II

    Hiring family members may save your company some payroll taxes!

    Read More
  • Keeping it all in the family – Part 1:

    Hiring your children can save taxes for your business and your family.

     Keeping it all in the family – Part 1:<br><h2>Hiring your children can save taxes for your business and your family.</h2>

    Hiring your children can save taxes for your business and your family

    Read More
  • Commuting vs Business mileage

    Commuting vs Business mileage

    We get a lot of questions about what constitutes business mileage (deductible) and what is defined as a commuting expense (non-deductible) – here’s some answers.

    Read More
  • Paying for employee education:

    What are the most tax-advantaged ways to reimburse employees’ education expenses?

     Paying for employee education:<br><h2>What are the most tax-advantaged ways to reimburse employees’ education expenses?</h2>

    Reimbursing employees for education expenses can both strengthen the capabilities of your staff and help you retain them.

    Read More
  • Do you have a Nexus:

    It's not a new car, but a business presence.

     Do you have a Nexus:<br><h2>It's not a new car, but a business presence.</h2>

    Operating in another state means possibly being subject to taxation in that state.

    Read More
  • Bartering – cash free, but is it tax free?

    Bartering – cash free, but is it tax free?

    Bartering might seem like something that happened only in ancient times, but the practice is still common today

    Read More
  • Quick Tax Facts for 2017

    Quick Tax Facts for 2017

    Quick Tax Facts for 2017

    Read More
  • Safe harbors from the IRS storm:

    These are your personal "safe zones" from the tax man

     Safe harbors from the IRS storm:<br><h2>These are your personal " width="542" height="292" />

    These are your personal “safe zones” from the tax man when you use depreciation.

    Read More
  • A primer on basic economics in starting a business:

    Guest Editor Dr. Walter Williams' commentary on starting a business

     A primer on basic economics in starting a business:<br><h2>Guest Editor Dr. Walter Williams' commentary on starting a business</h2>

    Guest Editor Dr. Walter Williams’ commentary on starting a business

    Read More
  • Tax Credits for Employers

    Tax Credits for Employers

    How to save taxes by smart hiring.

    Read More
  • Tax credits for small businesses:

    If you're eligible, these credits could equal huge savings!

     Tax credits for small businesses:<br><h2>If you're eligible, these credits could equal huge savings!</h2>

    Tax credits reduce tax liability dollar-for-dollar, making them particularly valuable. One of them might not be available after 2017.

    Read More
  • Retro-active tax planning after the year ends:

    It's not only possible but, in some cases, quite easy!

     Retro-active tax planning after the year ends:<br><h2>It's not only possible but, in some cases, quite easy!</h2>

    SEPs are sometimes regarded as the no-brainer for high-income small-business owners who don’t currently have tax-advantaged retirement plans.

    Read More
  • Extra deductions for (certain types) of production:

    We explain an oft-overlooked deduction.

     Extra deductions for (certain types) of production:<br><h2>We explain an oft-overlooked deduction.</h2>

    We explain an oft-overlooked deduction.

    Read More
  • Why 2016 may be a good tax year to take bonus depreciation:

    another way SCA is looking out for you!

     Why 2016 may be a good tax year to take bonus depreciation:<br><h2>another way SCA is looking out for you!</h2>

    Why bonus depreciation can be very helpful.

    Read More
  • HSAs reborn for 2017

    HSAs reborn for 2017

    Small businesses get a break for helping with employee’s healthcare.

    Read More
  • Out with the old – in with the new mileage rates:

    IRS thinks your deduction is too high!

     Out with the old – in with the new mileage rates:<br><h2>IRS thinks your deduction is too high!</h2>

    It’s easy to forget about the business use of your personal car. Here’s how to calculate this deduction for all your business miles.

    Read More
  • More year-end strategies to reduce your tax bill:

    Should you buy business assets in December?

     More year-end strategies to reduce your tax bill:<br><h2>Should you buy business assets in December?</h2>

    Should you buy business assets in December?

    Read More
  • Get a year-end deduction now and pay for it next year!

    Get a year-end deduction now and pay for it next year!

    Here’s how to deduct the expense now but pay it later.

    Read More
  • How to deduct travel & meals with an IRS guaranteed-dollar amount:

    IRS announces new per-diem rates for travel deductions for 2017

     How to deduct travel & meals with an IRS guaranteed-dollar amount:<br><h2>IRS announces new per-diem rates for travel deductions for 2017</h2>

    How to use the IRS per-diem amounts for travel expense.

    Read More
  • Replacing a business vehicle?:

    we'll show you the tax-smart way to switch autos

     Replacing a business vehicle?:<br><h2>we'll show you the tax-smart way to switch autos</h2>

    Are you being tax-smart to trade in your old business vehicle?

    Read More
  • Selling your business?:

    Installment sale reporting can defer a major portion of the tax.

     Selling your business?:<br><h2>Installment sale reporting can defer a major portion of the tax.</h2>

    Selling your business? Installment reporting may save both time and tax.

    Read More
  • New overtime rules – summarized in one page:

    What you don't know can hurt you (a lot).

     New overtime rules – summarized in one page:<br><h2>What you don't know can hurt you (a lot).</h2>

    The new overtime rules- a one page sumary.

    Read More
  • Salaries for owners of S-Corporations:

    just what is meant by reasonable compensation?

     Salaries for owners of S-Corporations:<br><h2>just what is meant by reasonable compensation?</h2>

    As a shareholder and an employee. your corporation pays you a salary. Is it reasonable in the eyes of the IRS?

    Read More
  • The new overtime law:

    what's the real effect on wage earners?

     The new overtime law:<br><h2>what's the real effect on wage earners?</h2>

    what’s the real effect on wage earners?

    Read More
  • Combining business and vacation travel:

    What can you deduct?

     Combining business and vacation travel:<br><h2>What can you deduct?</h2>

    If you combine a business trip with a vacation – what can you deduct?

    Read More
  • The 4 Ways to Grow Your Business

    The 4 Ways to Grow Your Business
    Read More
  • The most confusing IRS form of this tax season:

    Your company may be responsible for preparing the 1095.

     The most confusing IRS form of this tax season:<br><h2>Your company may be responsible for preparing the 1095.</h2>

    Your company may be responsible for preparing the 1095. See below to find out if you’re responsible.

    Read More
  • Out with the old – in with the new mileage rates:

    2016 mileage rate decreases

     Out with the old – in with the new mileage rates:<br><h2>2016 mileage rate decreases</h2>

    It’s easy to forget about the business use of your personal car. Here’s how to calculate this deduction for all your business miles.

    Read More
  • Tax Facts:

    bookmark this page for a quick reference

     Tax Facts:<br><h2>bookmark this page for a quick reference</h2>

    Bookmark this page for a quick reference to the numbers you’ll need this year.

    Read More
  • How to find the AFR. . .PDQ:

    how knowing the IRS' AFR can save you money

     How to find the AFR. . .PDQ:<br><h2>how knowing the IRS' AFR can save you money</h2>

    How to use the AFR to save taxes.

    Read More
  • Why 1099s are a big deal:

    new steeper penalties in effect for this year

     Why 1099s are a big deal:<br><h2>new steeper penalties in effect for this year</h2>

    What’s the big deal with 1099s?

    Read More
  • Now you see it . . .now you don’t:

    How Congress is making last year's deductions disappear

     Now you see it . . .now you don’t:<br><h2>How Congress is making last year's deductions disappear</h2>

    A magic trick by Congress!

    Read More
  • Understanding the alphabet soup of retirement planning:

    A guide to HSAs, HRAs,HRPs, and FSAs

     Understanding the alphabet soup of retirement planning:<br><h2>A guide to HSAs, HRAs,HRPs, and FSAs</h2>

    Despite Obamacare, there is a way that you may be able to reimburse your employee’s medical costs.

    Read More
  • Half Truths about your W-2:

    What you don't know can hurt you.

     Half Truths about your W-2:<br><h2>What you don't know can hurt you.</h2>

    Urban legends abound on this subject. Here are the current rules.

    Read More
  • Get remote support instantly with ScaSecure.

    Get remote support instantly with ScaSecure.

    Got a problem with your accounting software. Get remote support instantly!

    Read More
  • IRS allows a “mulligan” on Obamacare penalties:

    Stay of execution until July, 2015, for small-business clients!

     IRS allows a “mulligan” on Obamacare penalties:<br><h2>Stay of execution until July, 2015, for small-business clients!</h2>

    Occasionally IRS will surprise you and do something that actually makes common sense for our small business clients.

    Read More
  • Repair Expenses:

    It just got really complicated . . .

     Repair Expenses:<br><h2>It just got really complicated . . .</h2>

    New IRS regs add time and expense to every business’ depreciation calculation.

    Read More
  • Minimum Wage Changes for 2014:

    Have you checked your payroll?

     Minimum Wage Changes for 2014:<br><h2>Have you checked your payroll?</h2>

    Here’s an update on the changes in the Minimum Wage amounts for the coming year.

    Read More
  • Out with the old – in with the new mileage rates:

    2015 boasts higher mileage rates!

     Out with the old – in with the new mileage rates:<br><h2>2015 boasts higher mileage rates!</h2>

    It’s easy to forget about the business use of your personal car. Here’s how to calculate this deduction for all your business miles.

    Read More
  • S-Corp Owners – IRS rules in your favor!

    S-Corp Owners – IRS rules in your favor!

    Here’s the good news – as of December 19, 2014, IRS has updated their website with specific instructions on this topic.

    Read More
  • Year-End Planning Information for 2014 & 1015

    Year-End Planning Information for 2014 & 1015

    Here’s a complete list of qualified plan limitations, You may want to bookmark this page in your browser for use now and next year.

    Read More
  • Pivot Table and Reports

    Do you have the concept of Excel Pivot Tables but need help in creating reports? This video can help.

    Read More
  • Update on Corporate inversions – President blames accountants!

    Update on Corporate inversions – President blames accountants!

    [Editor’s note:] To fully understand why accountants react strongly to being blamed for corporate inversion, please read Part I – Corporate Inversion the new buzz word of the statist. Well,well,well. It seems like Washington is keeping their buck-passing deceptive skills honed to a sharp edge.  The President has gone so far as to blame CPAs and…

    Read More
  • Corporate inversions – the new buzz word of the statist

    Corporate inversions – the new buzz word of the statist

    Corporate inversions – the new buzz word of the statist

    Read More
  • Keeping it “All in the Family” Part I

    Keeping it “All in the Family” Part I

    If you have a family business – here’s how to save taxes and keep profits in the family circle.

    Read More
  • Timeline of Obamacare changes – It’s not an easy task

    Timeline of Obamacare changes – It’s not an easy task

    Need to know when the Obamacare provisions may effect your business? Here’s the answer!

    Read More
  • Tutorial of Tax-Sheltered Savings Plans for 2014

    Tutorial of Tax-Sheltered Savings Plans for 2014

    Some of the most powerful planning tools are the tax-sheltered savings plans available to almost every business. But these tools won’t help you if you don’t know how they work. We’ve published an executive summary for you below. If you’d like to pay less tax and increase your retirement fund, review the chart below. We…

    Read More
  • Does your “heartbleed” for Google & Yahoo?

    Does your “heartbleed” for Google & Yahoo?

    The newest computer bug that could enable hackers to obtain your password, credit card data, and other encrypted data is known as the Heartbleed SSL exploit. Among those affected are Google, Google Plus, Yahoo, and a host of other major players in the web services market. You can read about what it is at this…

    Read More
  • Could America learn from this country’s workers?

    Could America learn from this country’s workers?

    French citizens speak out about the economic reforms that they see hurting their nation. The young, the productive, and the entrepreneurial types seem to be deserting France in large numbers and relocating to more free-market based countries. We wonder if America (as it begins to pass similar reforms) will learn from the testimony of those…

    Read More
  • Georgia’s default gives business owners a year-end surprise

    Georgia’s default gives business owners a year-end surprise

    Here’s a belated holiday gift from Georgia and Washington to employers.

    Read More
  • JFK -Advocate of tax cuts to create jobs

    JFK -Advocate of tax cuts to create jobs

    A dollar released from taxation will create a new job-JFK

    Read More
  • Do you still have to depreciate that thumb drive?

    Do you still have to depreciate that thumb drive?

    IRS publishes new depreciation guidelines for 2014!

    Read More
  • Hidden traps in Obamacare for 2013

    Hidden traps in Obamacare for 2013

    We show you how to avoid pitfalls and traps in Obamacare.

    Read More
  • Have under 50 employees? You still have an Obamacare deadline October 1!

    Have under 50 employees? You still have an Obamacare deadline October 1!

    With just one employee you could have an Obamacare report due!

    Read More
  • More tax deductions that you may have missed

    More tax deductions that you may have missed

      Since our first post on deductions that you may have missed, several more items have come to mind that we find clients tend to forget or just don’t know that they’re existent. Most clients either volunteer for some charity work, serve on the boards of private or public foundations, help out at a shelter,…

    Read More
  • This post is rated PG (Public Guidance & Oversight for IRS Abuses).

    This post is rated PG (Public Guidance & Oversight for IRS Abuses).

    How IRS’ misuse of a credit card affects your tax planning

    Read More
  • Why many cities are going broke

    Why many cities are going broke

    Detroit is in the news since their bankruptcy filing, but the bigger question that we should be asking is why large cities are having problems.

    Read More
  • Words of wisdom from a business owner

    Words of wisdom from a business owner

    A great business quote from the author of Good to Great

    Read More
  • A tax deduction that you may have missed

    A tax deduction that you may have missed

    It’s easy to forget about the business use of your personal car. Here’s how to calculate this deduction for all your business miles.

    Read More
  • Under the Items for next year’s budget category . . .

    Under the Items for next year’s budget category . . .
    Read More
  • Sequestration – Numbers show the truth

    Sequestration – Numbers show the truth

    Hover your mouse over the chart for a long-term analysis.

    Read More
  • Why your 401(k) is only the beginning!

    Why your 401(k) is only the beginning!

    A 401(k) is just the beginning of the good things that you can do for your employees and for yourself. Take a look at the data below.

    Read More
  • Understanding the Free Market=Business Success

    Understanding the Free Market=Business Success

    If you understand how the free markets should work, you’ll tend to do a lot better in business. Here’s one of the greatest living speakers on the subject – Dr. Walter Williams.  

    Read More
  • IRS offers a clean slate for the past. . .

    IRS offers a clean slate for the past. . .

    Last year’s tax returns included two new questions. They both pertain to 1099 payments and, if unanswered, prevented you from E-Filing. If you’ve worried about 1099 vs employee problems with the IRS, there’s now a chance to wipe the slate of the past clean and start over. IRS is willing to forgo the audit of…

    Read More
  • Doing business away from your home state? Here’s a handy tool for all 50 states,

    Doing business away from your home state? Here’s a handy tool for all 50 states,

    Did you ever wish that when you do business in another state, you could quickly check the forms, filing requirements, etc. for that state with one click? The tool below should be just what you need. Using the scroll bars, find the state you wish to check and then click on it. You’ll be linked…

    Read More
  • Small business dodges an IRS bullet

    Small business dodges an IRS bullet

    It might be more appropriate to say that we small business owners dodged a boomerang because this issue is coming back in 2014. Our regular readers know that we sent a red alert out a few weeks ago about the most harmful tax regs that we’ve seen in a long time. You can refresh your…

    Read More
  • Will your Key Data survive a disaster?

    Will your Key Data survive a disaster?

    By Guest Editor Rick Viall  rviall@viallins.com A good friend of mine who is a claims adjuster is seeing it over and over. People have lost their business data in hurricane Sandy. Even if they can dry out their place of business and get restocked they will not be able to file a tax return and…

    Read More
  • 5 Years to write off a $100 thumb drive? We’re not kidding on this one.

    5 Years to write off a $100 thumb drive? We’re not kidding on this one.

    Now is the time to “repair” the deduction for repairs! You’ll have a hard time believing this one, but here are the facts. We’ve sent our business clients the following letter to help them understand the problem they face for 2012 taxes. To all business property owners: I am told the 2010 US Census reports…

    Read More
  • Your Cheating Chart (from the Journal of Accountancy)

    Your Cheating Chart (from the Journal of Accountancy)

    To paraphrase the country western song, your cheating chart is going to tell on you! Fellow CPA Carlton Collins shows common ways that data presentation via charts can be unethically manipulated to change the reader’s conclusions Don’t be fooled by government (or other) data that sounds too good to be true. Learn to be discerning…

    Read More
  • IRS begins a “Hiring Frenzy”

    IRS begins a “Hiring Frenzy”

    See the second video if you still believe it’s possible to administer the health care debacle.   Here’s just how easy it is to calculate.

    Read More
  • A tutorial for business owners on the new Medicare tax

    A tutorial for business owners on the new Medicare tax

    An individual is liable for Additional Medicare Tax if the individual’s wages, other compensation, or self-employment income
    (together with that of his or her spouse if filing a joint return) exceed the threshold amount for the individual’s filing status:

    Read More
  • Hire a Vet? Time is running out for tax credit.

    Hire a Vet? Time is running out for tax credit.

    Employers Need to Act Soon to Get Expanded   Credit for Hiring Vets   Special Edition Tax Tip 2012-11 Employers that hired unemployed veterans during late 2011 and early 2012 had an expanded period to request the required certification for claiming the expanded Work Opportunity Tax Credit (WOTC). That expanded period ends on Tuesday, June…

    Read More
  • Why budgets have no value

    Why budgets have no value

    You heard us right-they have no value. Jack Welch the brilliant CEO of General Electric agrees with me (don’t confuse him with the current clown at the head of GE). Welch did away with all the wasted weeks of the budget process and focused on creating projections instead. He then held the departments accounting to the projection of income and expense that they participated in creating.

    Read More
  • Hidden provisions in the Extended Payroll Tax Cut

    Hidden provisions in the Extended Payroll Tax Cut

    Payroll Tax Cut Extended for All of 2012   On February 22, 2012, the Temporary Payroll Tax Cut Continuation Act of 2011 was permanently extended for all of 2012. This extends the two percentage point payroll tax cut for employees, continuing the reduction of their social security tax withholding rate from 6.2 percent to 4.2…

    Read More
  • Independent Contractor vs. Employee – IRS throws a bargaining chip into the mix

    The IRS has launched a new program that may help employers to resolve past worker classification issues (Independent Contractor vs. Employee) at a relatively low tax cost by voluntarily reclassifying their workers. As regular readers know, IRS’ attitude on this issue has been less than helpful in the past. Personally, I do not know of…

    Read More
  • Peachtree users – Here’s how to add the owner’s health insurance to the W-2

    Peachtree users – Here’s how to add the owner’s health insurance to the W-2

    Clients with S-Corps – Don’t forget that you cannot deduct your health insurance costs without loading them onto your W-2. Here’s how to do it.

    Read More
  • IRS targets Quickbooks and Peachtree users and makes outrageous demands!

    IRS targets Quickbooks and Peachtree users and makes outrageous demands!

    We’ve known for some time of the IRS’ stated intent to educate at least one member of every audit team with advanced knowledge of Quickbooks and Peachtree Accounting. Given that these two programs have over 80% of the small business software market, one could understand this goal. The unsettling news is that IRS intends to…

    Read More
  • The one place that you should never borrow money from

      Here’s some good advice from the iowabiz.com site about the worst place to borrow money.  [The 2% IRS penalty referred to below is equal to an APR of about 25% on a 30 day loan!] by Joe KristanDecember 1, 2011 Every entrepreneur struggling to stave off hungry creditors has probably taken a wistful look…

    Read More
  • The theory of relativity is in the tax code

    The theory of relativity is in the tax code

    This is not the theory discovered by Einstein, but the one that states that certain tax advantages may be disallowed if you sell an asset to someone (or a company) that the tax code calls  a “related party.” Simply put, selling a capital asset at a loss to any of the following entities will cause the loss…

    Read More
  • New tax credit for hiring vets

      President Obama has signed into law increased tax credits for hiring certain veterans. The credits are part of the Work Opportunity Credit, which requires that employers certify through state jobs agencies that employees qualify for the credits. The credit rules, effective for veterans hired as new employees: – A maximum $4,800 credit (40% of the…

    Read More
  • Why most clients are in violation of their Quickbooks license and don’t even realize it!

    As if the IRS wasn’t enough to deal with, now Quickbooks owners have another hidden trap that Intuit is just waiting for you to stumble into. The trap centers around the wording in the licensing agreement. Simply put, it’s not a per user license like most multi-user software. Instead, it’s a per person license. Let…

    Read More
  • Tax breaks of C Corporations

    Income splitting. The government taxes the first $50,000 of corporate profits at a lower rate than the individual owners’ tax rates. Therefore, you one should split your C corporation’s income between yourself (or your S Corp) and the C corporation. This allows you to pay taxes on the salary you pay yourself at your individual…

    Read More
  • US Treasury indicates about 70% of millionaires to be hit with new tax are small business owners.

      Depending on which definition you choose of what defines a “small business owner,” any new “millionaire tax” is going to disproportionately affect the group that creates the most new jobs in our country. A new US Treasury study indicates that over 70% percent of so-called millionaires hit with this type of tax are small business owners. Almost every business…

    Read More
  • Can you use your 401(k) to start a business?

    The answer is a very qualified yes. However, it’s not as simple as writing a check from your IRA. This Wall Street Journal article  gives some basic guidelines.  As the article clearly states, don’t do this on your own. Call us for professional help.Article excerpt “There are ways to use IRA and 401(k) funds to finance…

    Read More

Planning Tools & Software

Tools & Software

  • Simple in Sixty – Excel Tables:

    Learn Excel Table tricks in just 60 seconds

    Learn some of the benefits of Excel tables in sixty seconds!

    Read More
     Simple in Sixty – Excel Tables:<br><h2>Learn Excel Table tricks in just 60 seconds</h2>
  • The truth about price-cutting- it’s not what you think:

    Watch as we crunch the numbers - you'll be shocked

    Sales are down, so we need to cut prices right? Not necessarily! The truth illustrated in the video below shows that price-cutting is almost never the way to grow profits. The video shows that, at a 35% profit margin, a 10% price cut means you must increase sales by 40% just to stay even. Hard…

    Read More
     The truth about price-cutting- it’s not what you think:<br><h2>Watch as we crunch the numbers - you'll be shocked</h2>
  • Other firms give you a list but we give you a tool

    A list of your assets is great for estate planning but, in addition, what your heirs will appreciate is a map to find the items they need after you’re gone.  This downloadable form (see the link at the bottom of the page) will not only make sure you have the vital estate documents but will…

    Read More
    Other firms give you a list but we give you a tool
  • Working faster in Excel:

    A large spreadsheet doesn't have to slow you down

    How to work faster with large excel sheets

    Read More
     Working faster in Excel:<br><h2>A large spreadsheet doesn't have to slow you down</h2>
  • November Newsletter:

    Check out our tax, excel, and business tips

    Our November Newsletter.

    Read More
     November Newsletter:<br><h2>Check out our tax, excel, and business tips</h2>
  • Text Updates from the SCA blog:

    Keep a watchful eye on Congress with your cell phone!

    Keep a watchful eye on Congress with your cell phone!

    Read More
     Text Updates from the SCA blog:<br><h2>Keep a watchful eye on Congress with your cell phone!</h2>
  • How to find that one email you thought was lost:

    Tips to use in Outlook

    How to search for one email among thousands.

    Read More
     How to find that one email you thought was lost:<br><h2>Tips to use in Outlook</h2>
  • How to Freeze Rows/Columns in Excel:

    Brad Edger teaches Excel Tips

    Brad Edger teaches how to freeze rows and columns

    Read More
  • Is Capitalism Moral?:

    Dr Walter Williams answers this question

    Dr Walter Williams answers this question

    Read More
     Is Capitalism Moral?:<br><h2>Dr Walter Williams answers this question</h2>
  • Excel – what to do when the numbers don’t line up:

    Guest writer Carlton Collins expains the quick fix to this problem:

    Can’t make the numbers align on your report? This will help.

    Read More
     Excel – what to do when the numbers don’t line up:<br><h2>Guest writer Carlton Collins expains the quick fix to this problem:</h2>
  • What does $100 buy?:

    it all depends upon the state in which your purchase is made

    What can you buy for $100? It depends upon which state you spend it in.

    Read More
     What does $100 buy?:<br><h2>it all depends upon the state in which your purchase is made</h2>
  • Does capitalism cause selfishness:

    What are the effects of socialism vis a vis capitalism on human nature?

    Some times it’s difficult to tell whether Washington is the cause or the effect of so many people believing that they are entitled to more and more government benefits.

    Read More
     Does capitalism cause selfishness:<br><h2>What are the effects of socialism vis a vis capitalism on human nature?</h2>
  • Tax Facts:

    bookmark this page for a quick reference

    Bookmark this page for a quick reference to the numbers you’ll need this year.

    Read More
     Tax Facts:<br><h2>bookmark this page for a quick reference</h2>
  • Tax Free Yield calculator:

    Find the difference between before-and after-tax yields

    Find the difference between before and after tax yields with our interactive spreadsheet!

    Read More
     Tax Free Yield calculator:<br><h2>Find the difference between before-and after-tax yields</h2>
  • Another free service for our existing clients:

    and it's built into your existing portal

    We’re adding a free service to our client portals. Sometimes you need a template for a business transaction and you need it quickly. It might be to document an employee loan or to specify the Internet Use Policy (a wise idea) for your employees. It could be that you need that employee manual that you…

    Read More
     Another free service for our existing clients:<br><h2>and it's built into your existing portal</h2>
  • If the Free Market fails:

    do you need more government?

    What do you do if the free market fails to work?

    Read More
  • Simple in Six – Using Excel Pivot Tables to analyze sales

    Excel expert Tom Fragale shows you how to use Pivot Tables to analyze your sales.

    Read More
  • Simple in Six – Make your Pivot Tables do more

    As useful as Excel Pivot Tables can be (see this post on creating pivot tables), sometimes you need to perform calculations on the data that’s inside the table. The normal Excel functions don’t work well for this, but our friend Tom Fragale show us how to force specific calculations on the data inside the Pivot…

    Read More
    Simple in Six – Make your Pivot Tables do more
  • Going for the max! Qualified plan limits for 2014

    When a financial move helps you, it’s best to go for the max. Here are the new limits for your 401(k), IRA, Roth-IRA, and several other types of tax-qualified plans for this year. Need some help in deciding on the type of plan? Remember that we’re just a click away when you need help.  …

    Read More
    Going for the max! Qualified plan limits for 2014
  • Using cloud software to organize your life and business

    New Year’s Resolutions: Stay Organized in 2014 (by Jay Garner of the Smith Conley team)   As we all get ready to set our New Year’s resolutions, we should all take a moment to look back over the current year and try to identify the single biggest time waster that prevented you and/or your business…

    Read More
    Using cloud software to organize your life and business
  • Simple in Sixty – Excel Tables

    Learn some of the benefits of Excel tables in sixty seconds!

    Read More
    Simple in Sixty – Excel Tables
  • Simple in Six – Excel Pivot Tables Part I

    Learn to use Excel Pivot Tables Part I

    Read More
    Simple in Six – Excel Pivot Tables Part I
  • IRS Exposed! The official report of the Inspector General

    If you needed the proof in writing …here it is.

    Read More
    IRS Exposed! The official report of the Inspector General
  • Simple in Six – Excel Tables

    Arguably, one of the most powerful features in Excel 2007 & 2010 is the new table formatting option. You can learn the basics in less than 5 minutes with the tutorial below.

    Read More
    Simple in Six – Excel Tables
  • Doing business away from your home state? Here’s a handy tool for all 50 states,

    Did you ever wish that when you do business in another state, you could quickly check the forms, filing requirements, etc. for that state with one click? The tool below should be just what you need. Using the scroll bars, find the state you wish to check and then click on it. You’ll be linked…

    Read More
    Doing business away from your home state? Here’s a handy tool for all 50 states,
  • Like what you see? Here’s how you can QR a friend.

    If you’re seeing this, you already know how to reach our web  site with its many free services. If you like what you’ve seen then forward this link to a friend who likes to save on taxes. Your friends can click the picture (for an enlarged view) and then scan the QR code to sign…

    Read More
    Like what you see? Here’s how you can QR a friend.
  • How to send us your documents – It’s safe and easy

    [Editor’s Note]- We’ve changed the look of the client portals after the date of this post. The portals are now in a facebook-type look and feel and are much easier to navigate. We’ve replaced the old video with an updated one of your humble CPA’s demonstrating how to upload your data. After you send us…

    Read More
    How to send us your documents – It’s safe and easy
  • Search our site like a pro!

    Answers – It’s what clients pay for and it’s what make your customers happy as well. We’ve designated this page to help you get answers and, when necessary, the knowledge to determine if you need to ask more detailed questions. We suggest that, in addition to your search terms, you pick an item from the…

    Read More
    Search our site like a pro!
  • Wow- that stimulus stuff is really working!

    Look no further than this chart for proof of how little effect the stimulus money has on the price of GM (Government Motors). Ford took no government bailout while GM took billions of your hard-earned dollars. I would say that it’s not much of a return on the taxpayer’s investment. It’s good to remember that except…

    Read More
    Wow- that stimulus stuff is really working!
  • Free and secure internet storage for our clients!

       One overlooked feature of the internet portals that we provide to clients is their use as a secured storage vault. You may have noticed the icon that looks like a bank vault under the File Exchange section of your SCA portal. We suggest that this vault be used as storage for a copy of…

    Read More
    Free and secure internet storage for our clients!
  • Turn off the TV and watch some moving images that will save you time and dollars

    It’s not as entertaining as Hawaii Five-0, but our suggestions just might add a 0 (zero) to your cash flow or net income. (Click the slide for details.) For a bigger TV screen (click here).  

    Read More
  • How to use Facebook for Business

    Most of us spend some amount of time on Facebook. Did you ever wish that you could better use your Facebook “friends” to grow your business? Wouldn’t it be great if there was a way to make someone your business friend without exposing all your personal posts? Look no further. Guest author and Excel expert…

    Read More
    How to use Facebook for Business
  • How long does a business need to keep its records?

    Does your office tend to look like our Fayette county landfill  with tons of old paperwork? Although there is no single statute of limitations for the many categories of records a business needs to retain, we can offer some guidelines. Here’s our suggested schedule for record retention. In the case of special circumstances, legal action(s), or…

    Read More
    How long does a business need to keep its records?
  • American Exceptionalism

    Some politicians in Washington may say American Exceptionalism doesn’t exist, but don’t you believe it! Here’s some proof. The photo on the left is a new IBM computer (from 1954). It was considered exceptional because it could store 5 megabytes of data and had a cost (in 1954 dollars) that was beyond the reach of almost…

    Read More
    American Exceptionalism
  • Payroll tax cuts – Are we really robbing the Social Security Piggy Bank?

      Our left-leaning friends are often quite surprised at our position on continuing the payroll tax cuts. The reasoning goes something like this, “you call yourself a fiscal conservative yet you want to keep on raiding the social security trust fund?  I just can’t believe you would do that!” What most fail to understand is…

    Read More
    Payroll tax cuts – Are we really robbing the Social Security Piggy Bank?
  • Don’t like the “rich” getting lower capital gain rates? Don’t worry; it’s going up 67%!

    Before the anti-capitalists rejoice too much . . . Just remember that, in our capitalistic system, all economic benefits for both rich and poor are driven by the formation of capital. If it becomes harder to hang on to your capital, then there will be less fuel for the economy’s engine. That said, here’s where the highest capital gain…

    Read More
    Don’t like the “rich” getting lower capital gain rates? Don’t worry; it’s going up 67%!
  • USA Debt per Capita

    You can measure a nation’s relative economic strength by a ratio of debt per capita. This is not our proudest economic moment as a country. (Source Senate Budget Committee) 

    Read More
    USA Debt per Capita
  • Asset Protection Advice

      This initial podcast was intended for doctors but it’s applicable to others as well. Asset protection expert Martin Shenkman gives advice on how to keep your net worth secure.   https://www.cpatax.net/audio/assetprotection.mp3

    Read More
    Asset Protection Advice
  • Changing the Password on your SCA portal

    Security professionals advise changing passwords from time to time. Here’s how you do it with the client portal that we provide.  There are only two steps. Click on your name in the upper right corner. Then click Update Password.  If desired, you can also change your login from the default (your email address) for even…

    Read More
    Changing the Password on your SCA portal
  • Peachtree users – Here’s how to add the owner’s health insurance to the W-2

    Clients with S-Corps – Don’t forget that you cannot deduct your health insurance costs without loading them onto your W-2. Here’s how to do it.

    Read More
    Peachtree users – Here’s how to add the owner’s health insurance to the W-2
  • How to keep score in 2012

    Congress has once again adjusted the dollar amount of allowabe mileage,social security limits,estate rates, and a host of other deductions. Here’s a handy scorecard for 2012.  

    Read More
    How to keep score in 2012
  • New tax limits for retirement plans

    It’s still early in 2012, but for our clients wanting to start their tax planning here are the updated numbers for this year. Retirement Plans Limits  Plan Limit Limit with Catchup Simple 11,500 14,000 401(k) 17,000 22,500 Roth 401(k) 17,000 22,500 IRA 5,000 6,000 Roth IRA 5,000 6,000 403(b) 17,000 22,500 Roth 403(b) 17,000 22,500…

    Read More
    New tax limits for retirement plans
  • Another Peachtree tip for year-end accounting

    When moving to the beginning of your tax year in Peachtree Accounting, be sure to adjust for the new state unemployment rate. This will insure the accuracy of Peachtree’s calculation of the amount you’ll pay at the end of the first quarter.  

    Read More
  • How to safely close the year in Peachtree Accounting

    For our clients using Peachtree Accounting: If you own one of the Premium versions of Peachtree Accounting, you’ll get the following screen during the year-end close at period 24.   By checking the Archive Company box, you’ll cause the system to create an extra company and preserve the ability to view all reports of prior…

    Read More
  • This group fails their audit 92% of the time.

    One way to determine the power of any organization is to take a look at their numbers.  Without commenting on the good accomplished or the harm done, one has to grant the Unions are  powerful forces in the social and political structure of America. Need some proof? Here are some convincing stats. Take special notice…

    Read More
    This group fails their audit 92% of the time.
  • When you do the math. . .

    . . .You find the best argument you could ever desire for Federal term limits.

    Read More
    When you do the math. . .
  • What’s in your wallet …(or on your copier)?

    I’ve always liked the Capital One credit card commercial that closes with the line “What’s in your wallet?” We’re asking, “What’s on your copier?” The amount of confidential data that’s stored forever on your  business copier might surprise and come back to haunt you. Need proof? Check out this video.  

    Read More
    What’s in your wallet …(or on your copier)?
  • Land of the free and home of the subsidized?

    Under the “department of statistics that really scare me” , here are some charts that show the rapid growth of Americans on the government dole.                             Here’s the same information showing which departments are the most culpable.

    Read More
  • How to determine your “real” yield- a free spreadsheet

    Things are rarely what they appear to be in the financial markets.Sometimes your real yield is what is left after the taxes have been paid. E-mail us for the free spreadsheet below to determine the effective yield ofa tax-free investment vs one that is fully taxable.

    Read More
  • No time for professional reading? We can help!

    As we find useful articles on marketing your company, etc., we’ll post a review on your individual portal. Here’s a sample of a great book I recently read on common sense marketing [See this Link]. You’ll receive an email from us telling you that we added information to your portal and a Flag (like the…

    Read More
    No time for professional reading? We can help!
  • Small business bookkeeping tool

    For the small business, this one tool will track present a financial picture of all checks, deposits, wire transfers, and balance of your business accounts. Use this link. [Requires Excel 2007 or greater.]Small Business Record Keeping

    Read More
    Small business bookkeeping tool
  • Simple in Sixty – Excel Tables:

    Learn Excel Table tricks in just 60 seconds

     Simple in Sixty – Excel Tables:<br><h2>Learn Excel Table tricks in just 60 seconds</h2>

    Learn some of the benefits of Excel tables in sixty seconds!

    Read More
  • The truth about price-cutting- it’s not what you think:

    Watch as we crunch the numbers - you'll be shocked

     The truth about price-cutting- it’s not what you think:<br><h2>Watch as we crunch the numbers - you'll be shocked</h2>

    Sales are down, so we need to cut prices right? Not necessarily! The truth illustrated in the video below shows that price-cutting is almost never the way to grow profits. The video shows that, at a 35% profit margin, a 10% price cut means you must increase sales by 40% just to stay even. Hard…

    Read More
  • Other firms give you a list but we give you a tool

    Other firms give you a list but we give you a tool

    A list of your assets is great for estate planning but, in addition, what your heirs will appreciate is a map to find the items they need after you’re gone.  This downloadable form (see the link at the bottom of the page) will not only make sure you have the vital estate documents but will…

    Read More
  • Working faster in Excel:

    A large spreadsheet doesn't have to slow you down

     Working faster in Excel:<br><h2>A large spreadsheet doesn't have to slow you down</h2>

    How to work faster with large excel sheets

    Read More
  • November Newsletter:

    Check out our tax, excel, and business tips

     November Newsletter:<br><h2>Check out our tax, excel, and business tips</h2>

    Our November Newsletter.

    Read More
  • Text Updates from the SCA blog:

    Keep a watchful eye on Congress with your cell phone!

     Text Updates from the SCA blog:<br><h2>Keep a watchful eye on Congress with your cell phone!</h2>

    Keep a watchful eye on Congress with your cell phone!

    Read More
  • How to find that one email you thought was lost:

    Tips to use in Outlook

     How to find that one email you thought was lost:<br><h2>Tips to use in Outlook</h2>

    How to search for one email among thousands.

    Read More
  • How to Freeze Rows/Columns in Excel:

    Brad Edger teaches Excel Tips

    Brad Edger teaches how to freeze rows and columns

    Read More
  • Is Capitalism Moral?:

    Dr Walter Williams answers this question

     Is Capitalism Moral?:<br><h2>Dr Walter Williams answers this question</h2>

    Dr Walter Williams answers this question

    Read More
  • Excel – what to do when the numbers don’t line up:

    Guest writer Carlton Collins expains the quick fix to this problem:

     Excel – what to do when the numbers don’t line up:<br><h2>Guest writer Carlton Collins expains the quick fix to this problem:</h2>

    Can’t make the numbers align on your report? This will help.

    Read More
  • What does $100 buy?:

    it all depends upon the state in which your purchase is made

     What does $100 buy?:<br><h2>it all depends upon the state in which your purchase is made</h2>

    What can you buy for $100? It depends upon which state you spend it in.

    Read More
  • Does capitalism cause selfishness:

    What are the effects of socialism vis a vis capitalism on human nature?

     Does capitalism cause selfishness:<br><h2>What are the effects of socialism vis a vis capitalism on human nature?</h2>

    Some times it’s difficult to tell whether Washington is the cause or the effect of so many people believing that they are entitled to more and more government benefits.

    Read More
  • Tax Facts:

    bookmark this page for a quick reference

     Tax Facts:<br><h2>bookmark this page for a quick reference</h2>

    Bookmark this page for a quick reference to the numbers you’ll need this year.

    Read More
  • Tax Free Yield calculator:

    Find the difference between before-and after-tax yields

     Tax Free Yield calculator:<br><h2>Find the difference between before-and after-tax yields</h2>

    Find the difference between before and after tax yields with our interactive spreadsheet!

    Read More
  • Another free service for our existing clients:

    and it's built into your existing portal

     Another free service for our existing clients:<br><h2>and it's built into your existing portal</h2>

    We’re adding a free service to our client portals. Sometimes you need a template for a business transaction and you need it quickly. It might be to document an employee loan or to specify the Internet Use Policy (a wise idea) for your employees. It could be that you need that employee manual that you…

    Read More
  • If the Free Market fails:

    do you need more government?

    What do you do if the free market fails to work?

    Read More
  • Simple in Six – Using Excel Pivot Tables to analyze sales

    Excel expert Tom Fragale shows you how to use Pivot Tables to analyze your sales.

    Read More
  • Simple in Six – Make your Pivot Tables do more

    Simple in Six – Make your Pivot Tables do more

    As useful as Excel Pivot Tables can be (see this post on creating pivot tables), sometimes you need to perform calculations on the data that’s inside the table. The normal Excel functions don’t work well for this, but our friend Tom Fragale show us how to force specific calculations on the data inside the Pivot…

    Read More
  • Going for the max! Qualified plan limits for 2014

    Going for the max! Qualified plan limits for 2014

    When a financial move helps you, it’s best to go for the max. Here are the new limits for your 401(k), IRA, Roth-IRA, and several other types of tax-qualified plans for this year. Need some help in deciding on the type of plan? Remember that we’re just a click away when you need help.  …

    Read More
  • Using cloud software to organize your life and business

    Using cloud software to organize your life and business

    New Year’s Resolutions: Stay Organized in 2014 (by Jay Garner of the Smith Conley team)   As we all get ready to set our New Year’s resolutions, we should all take a moment to look back over the current year and try to identify the single biggest time waster that prevented you and/or your business…

    Read More
  • Simple in Sixty – Excel Tables

    Simple in Sixty – Excel Tables

    Learn some of the benefits of Excel tables in sixty seconds!

    Read More
  • Simple in Six – Excel Pivot Tables Part I

    Simple in Six – Excel Pivot Tables Part I

    Learn to use Excel Pivot Tables Part I

    Read More
  • IRS Exposed! The official report of the Inspector General

    IRS Exposed! The official report of the Inspector General

    If you needed the proof in writing …here it is.

    Read More
  • Simple in Six – Excel Tables

    Simple in Six – Excel Tables

    Arguably, one of the most powerful features in Excel 2007 & 2010 is the new table formatting option. You can learn the basics in less than 5 minutes with the tutorial below.

    Read More
  • Doing business away from your home state? Here’s a handy tool for all 50 states,

    Doing business away from your home state? Here’s a handy tool for all 50 states,

    Did you ever wish that when you do business in another state, you could quickly check the forms, filing requirements, etc. for that state with one click? The tool below should be just what you need. Using the scroll bars, find the state you wish to check and then click on it. You’ll be linked…

    Read More
  • Like what you see? Here’s how you can QR a friend.

    Like what you see? Here’s how you can QR a friend.

    If you’re seeing this, you already know how to reach our web  site with its many free services. If you like what you’ve seen then forward this link to a friend who likes to save on taxes. Your friends can click the picture (for an enlarged view) and then scan the QR code to sign…

    Read More
  • How to send us your documents – It’s safe and easy

    How to send us your documents – It’s safe and easy

    [Editor’s Note]- We’ve changed the look of the client portals after the date of this post. The portals are now in a facebook-type look and feel and are much easier to navigate. We’ve replaced the old video with an updated one of your humble CPA’s demonstrating how to upload your data. After you send us…

    Read More
  • Search our site like a pro!

    Search our site like a pro!

    Answers – It’s what clients pay for and it’s what make your customers happy as well. We’ve designated this page to help you get answers and, when necessary, the knowledge to determine if you need to ask more detailed questions. We suggest that, in addition to your search terms, you pick an item from the…

    Read More
  • Wow- that stimulus stuff is really working!

    Wow- that stimulus stuff is really working!

    Look no further than this chart for proof of how little effect the stimulus money has on the price of GM (Government Motors). Ford took no government bailout while GM took billions of your hard-earned dollars. I would say that it’s not much of a return on the taxpayer’s investment. It’s good to remember that except…

    Read More
  • Free and secure internet storage for our clients!

    Free and secure internet storage for our clients!

       One overlooked feature of the internet portals that we provide to clients is their use as a secured storage vault. You may have noticed the icon that looks like a bank vault under the File Exchange section of your SCA portal. We suggest that this vault be used as storage for a copy of…

    Read More
  • Turn off the TV and watch some moving images that will save you time and dollars

    It’s not as entertaining as Hawaii Five-0, but our suggestions just might add a 0 (zero) to your cash flow or net income. (Click the slide for details.) For a bigger TV screen (click here).  

    Read More
  • How to use Facebook for Business

    How to use Facebook for Business

    Most of us spend some amount of time on Facebook. Did you ever wish that you could better use your Facebook “friends” to grow your business? Wouldn’t it be great if there was a way to make someone your business friend without exposing all your personal posts? Look no further. Guest author and Excel expert…

    Read More
  • How long does a business need to keep its records?

    How long does a business need to keep its records?

    Does your office tend to look like our Fayette county landfill  with tons of old paperwork? Although there is no single statute of limitations for the many categories of records a business needs to retain, we can offer some guidelines. Here’s our suggested schedule for record retention. In the case of special circumstances, legal action(s), or…

    Read More
  • American Exceptionalism

    American Exceptionalism

    Some politicians in Washington may say American Exceptionalism doesn’t exist, but don’t you believe it! Here’s some proof. The photo on the left is a new IBM computer (from 1954). It was considered exceptional because it could store 5 megabytes of data and had a cost (in 1954 dollars) that was beyond the reach of almost…

    Read More
  • Payroll tax cuts – Are we really robbing the Social Security Piggy Bank?

    Payroll tax cuts – Are we really robbing the Social Security Piggy Bank?

      Our left-leaning friends are often quite surprised at our position on continuing the payroll tax cuts. The reasoning goes something like this, “you call yourself a fiscal conservative yet you want to keep on raiding the social security trust fund?  I just can’t believe you would do that!” What most fail to understand is…

    Read More
  • Don’t like the “rich” getting lower capital gain rates? Don’t worry; it’s going up 67%!

    Don’t like the “rich” getting lower capital gain rates? Don’t worry; it’s going up 67%!

    Before the anti-capitalists rejoice too much . . . Just remember that, in our capitalistic system, all economic benefits for both rich and poor are driven by the formation of capital. If it becomes harder to hang on to your capital, then there will be less fuel for the economy’s engine. That said, here’s where the highest capital gain…

    Read More
  • USA Debt per Capita

    USA Debt per Capita

    You can measure a nation’s relative economic strength by a ratio of debt per capita. This is not our proudest economic moment as a country. (Source Senate Budget Committee) 

    Read More
  • Asset Protection Advice

    Asset Protection Advice

      This initial podcast was intended for doctors but it’s applicable to others as well. Asset protection expert Martin Shenkman gives advice on how to keep your net worth secure.   https://www.cpatax.net/audio/assetprotection.mp3

    Read More
  • Changing the Password on your SCA portal

    Changing the Password on your SCA portal

    Security professionals advise changing passwords from time to time. Here’s how you do it with the client portal that we provide.  There are only two steps. Click on your name in the upper right corner. Then click Update Password.  If desired, you can also change your login from the default (your email address) for even…

    Read More
  • Peachtree users – Here’s how to add the owner’s health insurance to the W-2

    Peachtree users – Here’s how to add the owner’s health insurance to the W-2

    Clients with S-Corps – Don’t forget that you cannot deduct your health insurance costs without loading them onto your W-2. Here’s how to do it.

    Read More
  • How to keep score in 2012

    How to keep score in 2012

    Congress has once again adjusted the dollar amount of allowabe mileage,social security limits,estate rates, and a host of other deductions. Here’s a handy scorecard for 2012.  

    Read More
  • New tax limits for retirement plans

    New tax limits for retirement plans

    It’s still early in 2012, but for our clients wanting to start their tax planning here are the updated numbers for this year. Retirement Plans Limits  Plan Limit Limit with Catchup Simple 11,500 14,000 401(k) 17,000 22,500 Roth 401(k) 17,000 22,500 IRA 5,000 6,000 Roth IRA 5,000 6,000 403(b) 17,000 22,500 Roth 403(b) 17,000 22,500…

    Read More
  • Another Peachtree tip for year-end accounting

    When moving to the beginning of your tax year in Peachtree Accounting, be sure to adjust for the new state unemployment rate. This will insure the accuracy of Peachtree’s calculation of the amount you’ll pay at the end of the first quarter.  

    Read More
  • How to safely close the year in Peachtree Accounting

    For our clients using Peachtree Accounting: If you own one of the Premium versions of Peachtree Accounting, you’ll get the following screen during the year-end close at period 24.   By checking the Archive Company box, you’ll cause the system to create an extra company and preserve the ability to view all reports of prior…

    Read More
  • This group fails their audit 92% of the time.

    This group fails their audit 92% of the time.

    One way to determine the power of any organization is to take a look at their numbers.  Without commenting on the good accomplished or the harm done, one has to grant the Unions are  powerful forces in the social and political structure of America. Need some proof? Here are some convincing stats. Take special notice…

    Read More
  • When you do the math. . .

    When you do the math. . .

    . . .You find the best argument you could ever desire for Federal term limits.

    Read More
  • What’s in your wallet …(or on your copier)?

    What’s in your wallet …(or on your copier)?

    I’ve always liked the Capital One credit card commercial that closes with the line “What’s in your wallet?” We’re asking, “What’s on your copier?” The amount of confidential data that’s stored forever on your  business copier might surprise and come back to haunt you. Need proof? Check out this video.  

    Read More
  • Land of the free and home of the subsidized?

    Under the “department of statistics that really scare me” , here are some charts that show the rapid growth of Americans on the government dole.                             Here’s the same information showing which departments are the most culpable.

    Read More
  • How to determine your “real” yield- a free spreadsheet

    Things are rarely what they appear to be in the financial markets.Sometimes your real yield is what is left after the taxes have been paid. E-mail us for the free spreadsheet below to determine the effective yield ofa tax-free investment vs one that is fully taxable.

    Read More
  • No time for professional reading? We can help!

    No time for professional reading? We can help!

    As we find useful articles on marketing your company, etc., we’ll post a review on your individual portal. Here’s a sample of a great book I recently read on common sense marketing [See this Link]. You’ll receive an email from us telling you that we added information to your portal and a Flag (like the…

    Read More
  • Small business bookkeeping tool

    Small business bookkeeping tool

    For the small business, this one tool will track present a financial picture of all checks, deposits, wire transfers, and balance of your business accounts. Use this link. [Requires Excel 2007 or greater.]Small Business Record Keeping

    Read More

 

Estate Planning

Estate Planning

  • What happens when the heirs lose the Will?:

    Here's what one family was forced to do.

    What happens when you know there’s a will but no one can find it? Our thanks to attorney Ira Leff’s tax blog (we’ve included a download link at the bottom) for the information below. Here’s one family’s course of action when unable to produce the will of a widow with no children. For more estate and asset…

    Read More
     What happens when the heirs lose the Will?:<br><h2>Here's what one family was forced to do.</h2>
  • How to navigate the Medicare maze:

    Savvy Medicare Planning can save you money!

    Common pitfalls in applying for Medicare.

    Read More
     How to navigate the Medicare maze:<br><h2>Savvy Medicare Planning can save you money!</h2>
  • Who gets your IRA? It’s not always a simple decision!

    When does money have to be paid from an IRA? The answers may surprise you.

    Read More
    Who gets your IRA? It’s not always a simple decision!
  • Can IRS make you pay someone else’s tax 10 years later?

    Just ask Maureen Mangiardi. Ten years after her father passed away the IRS came to the door asking for her IRA.

    Read More
    Can IRS make you pay someone else’s tax 10 years later?
  • Why we recommend tax-deferred growth!

    This is the reason we recommend tax-deferred growth for your Investments.

    Read More
    Why we recommend tax-deferred growth!
  • The best reason to do Financial Planning-leaving a positive legacy.

    It’s not just about you and me. Planning is about leaving a positive legacy for our children. This tongue-in-cheek video shows one very sound reason why you’d want to do this. Concerned about your financial goals? Contact us for help. (Click here if your screen doesn’t show the video.)

    Read More
    The best reason to do Financial Planning-leaving a positive legacy.
  • Estate Tax Rates for 2013 and beyond

    The zero-hour fiscal cliff law raised the top estate tax rates to 40 percent.
    Here’s a table with the new rates for 2013 and beyond.

    Read More
    Estate Tax Rates for 2013 and beyond
  • Where there’s a Will . . .

    . . .there are usually some opportunities for tax and estate planning. Most people don’t appreciate the importance of a will, especially if they think their estate is below the level of the estate tax exemption. Even people who recognize the need for a will often don’t have one, perhaps due to procrastination or the lack of…

    Read More
    Where there’s a Will . . .
  • 5 Benefits from the new tax law

    There actually are some helpful things that emerged from the midnight-hour law signed by President Obama on January 2. Here’s our pick of the top 5.

    Read More
    5 Benefits from the new tax law
  • Two words that can change your child’s inheritance

    Knowing a little Latin can save you a lot of money. In this case, a little Latin in not a short resident of Greece, but an important legal term that you may see in your will. The term per stirpes, along with its legal cousin, per capita, refers to how an estate is passed along…

    Read More
    Two words that can change your child’s inheritance
  • What happens when the heirs lose the Will?:

    Here's what one family was forced to do.

     What happens when the heirs lose the Will?:<br><h2>Here's what one family was forced to do.</h2>

    What happens when you know there’s a will but no one can find it? Our thanks to attorney Ira Leff’s tax blog (we’ve included a download link at the bottom) for the information below. Here’s one family’s course of action when unable to produce the will of a widow with no children. For more estate and asset…

    Read More
  • How to navigate the Medicare maze:

    Savvy Medicare Planning can save you money!

     How to navigate the Medicare maze:<br><h2>Savvy Medicare Planning can save you money!</h2>

    Common pitfalls in applying for Medicare.

    Read More
  • Who gets your IRA? It’s not always a simple decision!

    Who gets your IRA? It’s not always a simple decision!

    When does money have to be paid from an IRA? The answers may surprise you.

    Read More
  • Can IRS make you pay someone else’s tax 10 years later?

    Can IRS make you pay someone else’s tax 10 years later?

    Just ask Maureen Mangiardi. Ten years after her father passed away the IRS came to the door asking for her IRA.

    Read More
  • Why we recommend tax-deferred growth!

    Why we recommend tax-deferred growth!

    This is the reason we recommend tax-deferred growth for your Investments.

    Read More
  • The best reason to do Financial Planning-leaving a positive legacy.

    The best reason to do Financial Planning-leaving a positive legacy.

    It’s not just about you and me. Planning is about leaving a positive legacy for our children. This tongue-in-cheek video shows one very sound reason why you’d want to do this. Concerned about your financial goals? Contact us for help. (Click here if your screen doesn’t show the video.)

    Read More
  • Estate Tax Rates for 2013 and beyond

    Estate Tax Rates for 2013 and beyond

    The zero-hour fiscal cliff law raised the top estate tax rates to 40 percent.
    Here’s a table with the new rates for 2013 and beyond.

    Read More
  • Where there’s a Will . . .

    Where there’s a Will . . .

    . . .there are usually some opportunities for tax and estate planning. Most people don’t appreciate the importance of a will, especially if they think their estate is below the level of the estate tax exemption. Even people who recognize the need for a will often don’t have one, perhaps due to procrastination or the lack of…

    Read More
  • 5 Benefits from the new tax law

    5 Benefits from the new tax law

    There actually are some helpful things that emerged from the midnight-hour law signed by President Obama on January 2. Here’s our pick of the top 5.

    Read More
  • Two words that can change your child’s inheritance

    Two words that can change your child’s inheritance

    Knowing a little Latin can save you a lot of money. In this case, a little Latin in not a short resident of Greece, but an important legal term that you may see in your will. The term per stirpes, along with its legal cousin, per capita, refers to how an estate is passed along…

    Read More

Need a laugh at Washington? Try some Taxing Humor

Tax Humor

  • If Alexa were made by Southerners . . .

    Sometimes during the final deadlines of the 1040 tax season, you just need a good laugh. Thus, in the spirit of tax humor, we present – What if Alexa was built by Southern folks? To view, click on the play button, and the speaker icon for sound. If Alexa was Southern The future has arrived,…

    Read More
    If Alexa were made by Southerners  . . .
  • March madness-tax humor:

    Bracket can be in the eye of the beholder

    Read More
     March madness-tax humor:<br><h2>Bracket can be in the eye of the beholder</h2>
  • The one sure way to know if we’ll have a government shutdown:

    A bit of humor at Congress' expense

    With all the stress of the holiday season, we thought you could use a little humor at Congress’ expense. Therefore, we have developed our infallible flow-chart to determine in the government has really shut down or not.    

    Read More
     The one sure way to know if we’ll have a government shutdown:<br><h2>A bit of humor at Congress' expense</h2>
  • World Cup & Tax Rates

    With all the tension of the world cup this weekend – a little tax humor might help.

    Read More
    World Cup & Tax Rates
  • Reacting to the stock market drop . .:

    an example of what not to do

    During tax season you often need some humor to help relieve the stress. 

    Read More
     Reacting to the stock market drop . .:<br><h2>an example of what not to do</h2>
  • Is Windows 10 watching you?

    Is Windows 10 spying on you?

    Read More
    Is Windows 10 watching you?
  • Even geniuses can have trouble with income taxes.

    Even geniuses can have trouble with income taxes.

    Read More
    Even geniuses can have trouble with income taxes.
  • What if IRS did more than tax collections?

    What if IRS did more than tax collections?

    Read More
    What if IRS did more than tax collections?
  • Their customer service is still better than the IRS:

    some tax humor on filing day

    Read More
     Their customer service is still better than the IRS:<br><h2>some tax humor on filing day</h2>
  • Which ancient culture accepted wild animals as tax payment?:

    Tax humor before the deadline

    Which ancient culture accepted wild animals as tax payment?

    Read More
     Which ancient culture accepted wild animals as tax payment?:<br><h2>Tax humor before the deadline</h2>
  • Is it really theirs?

    “Without property rights, no other rights are possible.” – Ayn Rand

    Read More
    Is it really theirs?
  • If you need help on a game of Trivial Pursuit:

    Accountants have an eclectic sense of humor

    Accountants have an eclectic sense of humor

    Read More
     If you need help on a game of  Trivial Pursuit:<br><h2>Accountants have an eclectic sense of humor</h2>
  • New ideas for a new tax year

    Washington hasn’t asked for our input, but here’s a novel thought.

    Read More
    New ideas for a new tax year
  • Where did that withholding on your check come from?

    It’s too bad that our grandparents didn’t realize what a Pandora’s Box they were about to open!

    Read More
    Where did that withholding on your check come from?
  • Brexit:

    How to view the British leaving the EU

    Read More
     Brexit:<br><h2>How to view the British leaving the EU</h2>
  • What do the letters IRS really stand for?:

    our readers offer their suggestions

    Our readers offer their suggestions.

    Read More
     What do the letters IRS really stand for?:<br><h2>our readers offer their suggestions</h2>
  • Reasons clients like to visit our office

    Reasons to visit our office

    Read More
    Reasons clients like to visit our office
  • Political Insanity – Taxing your use of the cloud:

    Chicago to impose 9% Netflix entertainment tax

    If you’re an elected official, it seems like there are just never enough taxes to make you happy. When Chicago’s mayor (the infamous Rahm Emanuel) proposed a 9% “Amusement Tax” on the act of watching Netflix and other cloud services, the good people of Cook County reached their limit of tolerance. Bear in mind this…

    Read More
     Political Insanity – Taxing your use of the cloud:<br><h2>Chicago to impose 9% Netflix entertainment tax </h2>
  • What happens if the Net Neutrality law is approved.

    Fairness and neutrality sure sound like good ideas, but when they’re administrated by Washington – here’s what’s likely to happen:

    Read More
    What happens if the Net Neutrality law is approved.
  • While you’re struggling with your budget . . .

    We thought you’d like to know some of the things Washington is doing with your money.

    Read More
    While you’re struggling with your budget . . .
  • What if you spent like the Federal government?

    What if you spent like the Federal government?

    Read More
    What if you spent like the Federal government?
  • What Congress doesn’t know . . .

    . . . and can’t seem to figure out!

    Read More
    What Congress doesn’t know . . .
  • Why you should let us go to your IRS audit

    Clients should never represent themselves in an IRS audit. Here’s why.

    Read More
    Why you should let us go to your IRS audit
  • Old-fashioned Accounting and a free prize!

    Our existing clients can win a holiday prize by guessing the name of this famous story.

    Read More
    Old-fashioned Accounting and a free prize!
  • How the debt ceiling really works!

    A tongue-in-cheek look at the debt ceiling with some hard numbers.

    Read More
  • How the banking system really works

    Sometimes you just need to laugh a little. After our video parody of stockbrokers, and the IRS’ self-made spoof of Star Trek, we felt equal time was due to the banking industry. This video is a bit of tongue-in-cheek humor on how the banking system really works! Joking aside, a good banker and stockbroker are…

    Read More
    How the banking system really works
  • Taxing Humor -Featuring Jon Stewart

    Details of recent IRS events can be confusing. Here’s reporter Jon Stewart with a special update.

    Read More
    Taxing Humor -Featuring Jon Stewart
  • Before we get serious about 2013 . . .

    With new changes coming on the home office deduction, reporting of savings accounts, how IRS has managed the new preparer requirements etc, perhaps we should have a quick bit of fun. There’s a lot of swearing in (and swearing at as well) of members of Congress and the President this month. Nothing strikes closer to…

    Read More
    Before we get serious about 2013 . . .
  • The new way to buy car insurance in 2013
    Read More
    The new way to buy car insurance in 2013
  • How to understand the stimulus tax bill

    Knowing tax law can be difficult to read, we offer the following visual aid.

    Read More
    How to understand the stimulus tax bill
  • If the census people were honest . . .

    This is what they would say . . .

    Read More
    If the census people were honest . . .
  • The real effect of a federal “Stimulus” tax law

    We took our SCA hidden camera inside the corporate boardrooms of America and, more often than not, found this reaction by upper management to the federal incentives within the tax stimulus bills. Remember, if it doesn’t make good economic sense, it won’t matter how many tax incentives a law may contain.

    Read More
    The real effect of a federal “Stimulus” tax law
  • A great time to invest?

    Our tongue-in-cheek humor as we look at the reporting and sale of investments.

    Read More
    A great time to invest?
  • Congressional Calculator only $9.99!

    One of our clients is offering these retrofitted calculators. If you’ve followed the current budget -you’ll know why. Since the cash for clunker law was a disaster, maybe we could have calculators for Congress!  

    Read More
    Congressional Calculator only $9.99!
  • An example of evil greed

    Who’s really being greedy here?    

    Read More
    An example of evil greed
  • 40 million dollars for a few less IRS agents? What a deal!

      The problem is that it’s a deal for the government employees and not the taxpayers. An IRS early buyout program of up to $25,000 per individual will be offered to 5,400 employees with plans to accept about 1,600 individuals. Some may debate that fewer agents are worth the price tag, but I wonder if…

    Read More
    40 million dollars for a few less IRS agents? What a deal!
  • What do the letters IRS really stand for?

    During tax season, one of the most oft asked questions is – What do the initials in IRS mean? We offer the following ideas. Feel free to send us your own.

    Read More
  • Beware who defines “your fair share.”

    Beware whom you permit to define what is your “fair share.”     The definition will always be dependent on just how hungry the croc is when he finds you and your wallet.    

    Read More
    Beware who defines “your fair share.”
  • If Alexa were made by Southerners . . .

    If Alexa were made by Southerners  . . .

    Sometimes during the final deadlines of the 1040 tax season, you just need a good laugh. Thus, in the spirit of tax humor, we present – What if Alexa was built by Southern folks? To view, click on the play button, and the speaker icon for sound. If Alexa was Southern The future has arrived,…

    Read More
  • March madness-tax humor:

    Bracket can be in the eye of the beholder

     March madness-tax humor:<br><h2>Bracket can be in the eye of the beholder</h2>
    Read More
  • The one sure way to know if we’ll have a government shutdown:

    A bit of humor at Congress' expense

     The one sure way to know if we’ll have a government shutdown:<br><h2>A bit of humor at Congress' expense</h2>

    With all the stress of the holiday season, we thought you could use a little humor at Congress’ expense. Therefore, we have developed our infallible flow-chart to determine in the government has really shut down or not.    

    Read More
  • World Cup & Tax Rates

    World Cup & Tax Rates

    With all the tension of the world cup this weekend – a little tax humor might help.

    Read More
  • Reacting to the stock market drop . .:

    an example of what not to do

     Reacting to the stock market drop . .:<br><h2>an example of what not to do</h2>

    During tax season you often need some humor to help relieve the stress. 

    Read More
  • Is Windows 10 watching you?

    Is Windows 10 watching you?

    Is Windows 10 spying on you?

    Read More
  • Even geniuses can have trouble with income taxes.

    Even geniuses can have trouble with income taxes.

    Even geniuses can have trouble with income taxes.

    Read More
  • What if IRS did more than tax collections?

    What if IRS did more than tax collections?

    What if IRS did more than tax collections?

    Read More
  • Their customer service is still better than the IRS:

    some tax humor on filing day

     Their customer service is still better than the IRS:<br><h2>some tax humor on filing day</h2>
    Read More
  • Which ancient culture accepted wild animals as tax payment?:

    Tax humor before the deadline

     Which ancient culture accepted wild animals as tax payment?:<br><h2>Tax humor before the deadline</h2>

    Which ancient culture accepted wild animals as tax payment?

    Read More
  • Is it really theirs?

    Is it really theirs?

    “Without property rights, no other rights are possible.” – Ayn Rand

    Read More
  • If you need help on a game of Trivial Pursuit:

    Accountants have an eclectic sense of humor

     If you need help on a game of  Trivial Pursuit:<br><h2>Accountants have an eclectic sense of humor</h2>

    Accountants have an eclectic sense of humor

    Read More
  • New ideas for a new tax year

    New ideas for a new tax year

    Washington hasn’t asked for our input, but here’s a novel thought.

    Read More
  • Where did that withholding on your check come from?

    Where did that withholding on your check come from?

    It’s too bad that our grandparents didn’t realize what a Pandora’s Box they were about to open!

    Read More
  • Brexit:

    How to view the British leaving the EU

     Brexit:<br><h2>How to view the British leaving the EU</h2>
    Read More
  • What do the letters IRS really stand for?:

    our readers offer their suggestions

     What do the letters IRS really stand for?:<br><h2>our readers offer their suggestions</h2>

    Our readers offer their suggestions.

    Read More
  • Reasons clients like to visit our office

    Reasons clients like to visit our office

    Reasons to visit our office

    Read More
  • Political Insanity – Taxing your use of the cloud:

    Chicago to impose 9% Netflix entertainment tax

     Political Insanity – Taxing your use of the cloud:<br><h2>Chicago to impose 9% Netflix entertainment tax </h2>

    If you’re an elected official, it seems like there are just never enough taxes to make you happy. When Chicago’s mayor (the infamous Rahm Emanuel) proposed a 9% “Amusement Tax” on the act of watching Netflix and other cloud services, the good people of Cook County reached their limit of tolerance. Bear in mind this…

    Read More
  • What happens if the Net Neutrality law is approved.

    What happens if the Net Neutrality law is approved.

    Fairness and neutrality sure sound like good ideas, but when they’re administrated by Washington – here’s what’s likely to happen:

    Read More
  • While you’re struggling with your budget . . .

    While you’re struggling with your budget . . .

    We thought you’d like to know some of the things Washington is doing with your money.

    Read More
  • What if you spent like the Federal government?

    What if you spent like the Federal government?

    What if you spent like the Federal government?

    Read More
  • What Congress doesn’t know . . .

    What Congress doesn’t know . . .

    . . . and can’t seem to figure out!

    Read More
  • Why you should let us go to your IRS audit

    Why you should let us go to your IRS audit

    Clients should never represent themselves in an IRS audit. Here’s why.

    Read More
  • Old-fashioned Accounting and a free prize!

    Old-fashioned Accounting and a free prize!

    Our existing clients can win a holiday prize by guessing the name of this famous story.

    Read More
  • How the debt ceiling really works!

    A tongue-in-cheek look at the debt ceiling with some hard numbers.

    Read More
  • How the banking system really works

    How the banking system really works

    Sometimes you just need to laugh a little. After our video parody of stockbrokers, and the IRS’ self-made spoof of Star Trek, we felt equal time was due to the banking industry. This video is a bit of tongue-in-cheek humor on how the banking system really works! Joking aside, a good banker and stockbroker are…

    Read More
  • Taxing Humor -Featuring Jon Stewart

    Taxing Humor -Featuring Jon Stewart

    Details of recent IRS events can be confusing. Here’s reporter Jon Stewart with a special update.

    Read More
  • Before we get serious about 2013 . . .

    Before we get serious about 2013 . . .

    With new changes coming on the home office deduction, reporting of savings accounts, how IRS has managed the new preparer requirements etc, perhaps we should have a quick bit of fun. There’s a lot of swearing in (and swearing at as well) of members of Congress and the President this month. Nothing strikes closer to…

    Read More
  • The new way to buy car insurance in 2013

    The new way to buy car insurance in 2013
    Read More
  • How to understand the stimulus tax bill

    How to understand the stimulus tax bill

    Knowing tax law can be difficult to read, we offer the following visual aid.

    Read More
  • If the census people were honest . . .

    If the census people were honest . . .

    This is what they would say . . .

    Read More
  • The real effect of a federal “Stimulus” tax law

    The real effect of a federal “Stimulus” tax law

    We took our SCA hidden camera inside the corporate boardrooms of America and, more often than not, found this reaction by upper management to the federal incentives within the tax stimulus bills. Remember, if it doesn’t make good economic sense, it won’t matter how many tax incentives a law may contain.

    Read More
  • A great time to invest?

    A great time to invest?

    Our tongue-in-cheek humor as we look at the reporting and sale of investments.

    Read More
  • Congressional Calculator only $9.99!

    Congressional Calculator only $9.99!

    One of our clients is offering these retrofitted calculators. If you’ve followed the current budget -you’ll know why. Since the cash for clunker law was a disaster, maybe we could have calculators for Congress!  

    Read More
  • An example of evil greed

    An example of evil greed

    Who’s really being greedy here?    

    Read More
  • 40 million dollars for a few less IRS agents? What a deal!

    40 million dollars for a few less IRS agents? What a deal!

      The problem is that it’s a deal for the government employees and not the taxpayers. An IRS early buyout program of up to $25,000 per individual will be offered to 5,400 employees with plans to accept about 1,600 individuals. Some may debate that fewer agents are worth the price tag, but I wonder if…

    Read More
  • What do the letters IRS really stand for?

    During tax season, one of the most oft asked questions is – What do the initials in IRS mean? We offer the following ideas. Feel free to send us your own.

    Read More
  • Beware who defines “your fair share.”

    Beware who defines “your fair share.”

    Beware whom you permit to define what is your “fair share.”     The definition will always be dependent on just how hungry the croc is when he finds you and your wallet.    

    Read More

  • rickviall
  • joey
  • spowell
  • seneyfooter1
  • dondychefacebook1
  • rickviall
Copyright SCA @2016