Mileage Rates for 2012 Released

On December 15th, 2011, posted in: Accounting by 0 Comment

The IRS recently announced the standard mileage rates for 2012 (Notice 2012-1). Use the optional standard mileage rates to calculate the deductible costs of operating an automobile. Business use of an automobile remains at 55½ cents per mile. Even in our virtual accounting office, we still put miles on our vehicles traveling to meet with..

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Are You in a Rut?

On December 13th, 2011, posted in: BIZ-TIP by 0 Comment

Times like this are definitely not the time to get stuck in a rut. It’s amazing what some business owners are doing. They are trying lots of new things and their businesses are exploding! Yes, businesses are growing in this economy! If your business isn’t growing, ask yourself a few questions: Do you need to..

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Are You Using Your Arizona Income Tax Credits?

On December 9th, 2011, posted in: Accounting by 0 Comment

Did you know you can make a donation to a qualified charity rather than paying all of your state income taxes in Arizona? It’s true and under this provision, according to the Arizona Department of Revenue, residents can help those in need and it wouldn’t cost them a cent. The reason? The State of Arizona..

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Wrap it Up!

On May 12th, 2011, posted in: Accounting, Marketing, Security by 0 Comment

Since our firm is totally paperless, after year-end we burn a CD for each client with all the documents supporting their income tax returns. Amazingly enough, we call it a Tax Support CD and we label it by year. This gives our clients all the documents they would need in case they were audited but it doesn’t mean that they’ll have boxes or file drawers full of papers. Included on the Tax Support CD are all of their bank statements along with our reconciliation reports, all the bills we have paid for them, any receipts they have given to us, sales tax and payroll reports, financial statements, any pertinent correspondence, W2s and 1099s that we sent or received for them, etc.

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Are You on Target?

On December 7th, 2010, posted in: BIZ-TIP by 1 Comment

It’s hard to believe that this year is coming to a close. As we start to wind down this year and think of the next, ask yourself how close you are to the goals you set for this year. We set some very ambitious goals for this year and are well on our way to..

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Want to Save on Your Taxes?

On November 2nd, 2010, posted in: BIZ-TIP by 2 Comments

Have you scheduled your pre-year-end tax review with your CPA yet? We always encourage our clients to do that in November. If you haven’t done it yet, here are a few good reasons why you should: There are some tax-saving ideas that you can’t do after December 31st Tax laws change and you want to..

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