CPA Blog

CPA & Accounting Topics for Business
Sep
12

What Are Your Chances of Being Audited? - Houston Business CPA

What Are Your Chances of Being Audited? - Houston Business CPA
Your chances of being audited go up as your income gets higher. Individuals with an income under $200,000 have less than a 1% chance of being audited. An income of $200,000 or more will triple your chance of being audited. And those with incomes over $1 million have close to an...
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4085 Hits
May
12

Have Your Cake and Eat it too!

Last Friday, we celebrated the end of tax season with an After Tax Season Employee Party. I wanted to do something for the staff in appreciation for all of their hard work. We celebrated with dinner, drinks, some games and lots of laughter - believe it or not, accountants aren't as...
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764 Hits
Mar
29

This Spring's Special Tax Tip... How to Deduct Having Fun!

Today is the start of the first day of the 2012 Shell Houston Open played at Redstone Golf Club. The "SHO" as it is referred to, is an annual PGA Tour event that raises millions of dollars for charities. It is held the week before The Masters golf tournament that is arguably the biggest golf tournament of them all. Thousands of golf fans attend the SHO but few of them know that their business can actually deduct 100% of the cost of the ticket on their tax return.

How can you do that when entertainment deduction is limited to 50% of the cost?

The SHO is what is referred to as a qualified charity event. A qualified charity event must be

  1.  A sporting event
  2.  Gives all its net proceeds to 501 (c) (3) charities
  3. And uses volunteers for substantially all the work performed in carrying out the event.
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About You

Over decades of working with various types of businesses we have discovered Fisher is the perfect fit for clients who demonstrate the following characteristics.

1

Your business has already proven to be successful through continued growth.

2

Your market has a real need for your product and/or service.

3

You are an independent thinker.

4

You are not a follower but instead you tend to lead or aspire to lead in your market.

5

You understand the importance of learning how to improve your financial navigation.

6

You are teachable despite of your previous success and you continue to seek personal development.

7

You are actively seeking to improve your business.

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