Tag: tax planning

States that depend heavily on tourism have suffered greatly during the pandemic, and a few are taking creative steps to diversify their economies by attracting new remote workers. For example, Hawaii’s new “Movers and Shakas” program offers free roundtrip airfare to remote workers willing to spend at least 30 days working in that state and to contribute in some way to the local community. Tulsa is offering grants of $10,000…  Read more

After months of only bad news about the spread of COVID-19, recent announcements of successful trials of three different vaccines bring a sense of optimism that the return to “normal” is on the way. Pfizer was first, and chartered flights bringing the vaccine to the U.S. from Belgium began on November 27. By mid-December, people may begin receiving that vaccine. A vaccine by Moderna has also completed trials and that…  Read more

One of the positive side effects of the pandemic has been reduced traffic on interstate highways. A group of amateur race car drivers decided to take advantage of the empty roads to revive the “Cannonball Run,” a highly illegal endurance race from Manhattan to Los Angeles. The object of this race is to make the run faster than anyone else. Teams plan for months, fine-tuning routes to consider traffic light…  Read more

One of the baffling aspects of the COVID-19 pandemic is the fact that we don’t yet know precisely how deadly this virus is. Estimates of the fatality rate range from a low of 0.64%, estimated by analysis of data by Australian researchers, to a high of 16% in Belgium. Many infections are asymptomatic or mild, which means there may be 10 unrecorded cases for each documented infection. What we do…  Read more

Resources to Help You Survive – and Thrive – During the COVID-19 Pandemic The COVID-19 pandemic has impacted nearly every part of the economy. According to a survey by the Census Bureau, 75% of all small businesses in the U.S. have applied for a loan through the Paycheck Protection Program, but as of May 2, only 38% had received funding. For unknown reasons, businesses in some parts of the country…  Read more

I am so glad to share this photo from another beautiful morning run on the beach today, I hope you are all doing something for YOU each day, it really does help.     The reports are coming in about the stimulus checks.  It seems that only those eligible individuals who had an over-payment direct deposited into their (current) bank account when they filed their 2018 or 2019 tax returns…  Read more

In this video, I talk about how the Economic Injury Disaster Loans & Emergency Economic Injury Grants can help your business. I remember the joke that “Ask an accountant how much is 1+1”, and they say “what would you like it to be”.  It sounds like the new Non-Joke “what is my average monthly payroll cost” and we say “what day is it” … Please watch my video, which I…  Read more

Hoping you can spot the dolphins playing in the stormy water today.  In times like this it’s the little things that make a difference, like spotting dolphins swimming by during my morning walk. Last night I hosted the first of what I hope will be the first of many valuable and informative webinars: “Successful Personal Cash Flow Strategies During Times of Uncertainty” and as the news keeps changing I will update…  Read more

It’s tax season and it seems that the rest of the country finally figured out that Tax Simplification is anything but… Now the big question is how do I find the best CPA or Tax Professional for me.  The question seems “simple” too. But is it? Today was the second time this article was published in the last few weeks, click through to read it. How to Find the Best…  Read more

I was asked to contribute to this online article as posted by Intuit for other tax professionals. My tip: “We find that our business and individual clients are still confused about how the TCJA affects various issues, such as their overall tax liability, entity structure, retirement benefits and deductible expenses. We will continue to encourage strong communication and engagement with our team of professionals. Our clients are comforted when they see that we are there…  Read more

It’s been exciting to see how several of our clients were able to save some serious dollars and reduce or eliminate their fourth quarter corporate and individual tax estimates by instituting Year-End Micro Tax Minimization Plans. We will be rolling up our sleeves again in January to start working on full blown plans for the 2020 tax year. Click through to see a blog and video on the process and……  Read more

Ready to retire? Worried that you can’t afford to?  Your accountant may be able to help shed some light on your situation.  Remember that your tax situation may change drastically after retirement and that change can have a positive effect on your spending dollars! Watch this video to see how understanding your after tax retirement dollars can bring you peace of mind. You CAN afford to retire with after tax…  Read more

It’s year end, and time to reflect on the year gone by and plan for the year ahead. But thinking about your business and how to improve it can be stressful. We wrote about the importance of having a solid Vision Statement to help guide you and your staff to a more successful business, with a better business model, more satisfied customers and more focused staff. Need a little prodding?…  Read more

There are some things in life that go together well and others that definitely do not! Business and personal finances are in that category of items that should not be mixed. Although it may seem like a headache to keep them separate—who wants to manage all those bank accounts?—your life will be greatly simplified once you separate your personal and your business finances, especially your expenses. Paperwork and taxes will…  Read more

The holiday season is once again here, and with it comes time to relax, focus on family and friends and take stock in what is really important in life. What if you are a small business owner who has not worked through your processes to create a business rather than a job?  Every small business owner knows that being away from the office can be just as stressful as being…  Read more

It was great to have Elizabeth with me for this conference. We split up for several sessions and have already compared notes. We were even able to spend time while still away to make plans for implementing our joint takeaways: Many businesses today are challenged with recruiting and retaining talented loyal staff.  You can start solving staffing problems by looking at the way management is currently interacting with their team.…  Read more

I’m on the road again enjoying sharing insights from the specialized industry accounting conference I am attending.  Today’s takeaways started even before we reached the registration desk, where I introduced Elizabeth Spradley, our firm’s accounting manager to some of the returning attendees and conference administrators.  They continued as we participated in the day’s workshops and on through the welcome reception. Here are my highlights and takeaways from Day 1 of…  Read more

I hope you enjoyed my photos and takeaways as much as I enjoyed sharing with you.  Please do send feedback if these tips have resonated with you.  Please share in the comments if and how you have implemented them in your firm/business/practice, I hope you can tell from these photos that I have taken “selfie” taking lessons. Andrea & Ivette You can be an inspiration to your accountability coach when…  Read more

I hope you are enjoying my photos and takeaways, please do send feedback if these tips have resonated with you.  Please share in the comments if and how you have implemented them in your firm/business/practice, but do not judge me by my “selfie” taking ability, I do feel I am getting better. Conference Day 2 takeaways started as soon as I finished my morning workout: Peloton Bike at the Hotel…  Read more

I’m on the road again and sharing insights from the San Jose accounting technology conference I am attending. Liquid Breakfast Today’s conference takeaways started at breakfast, I sat down at a random table and the conversation started with “where are you from?” My computer was in my backpack so that “takeaway” was written on a napkin. Here are my highlights and takeaways from today’s conference: Show your clients you care.  It’s…  Read more