CPA Blog

CPA & Accounting Topics for Business

Small Business Owners Can Deduct Children's College By Implementing an Educational Assistance Program

Small Business Owners Can Deduct Children's College By Implementing an Educational Assistance Program
Many of you know I have two children in college. One is completing his master's degree and the youngest is completing her Bachelor's degree. Both are doing well in school and I am very proud of them. I am fortunate in that my children both received lot's of scholarships to get...
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Small Business Essentials... Part 2

Small Business Essentials... Part 2
Last week we wrote about three fundamental issues you need to watch in your business. Today, we will cover two more problems I see with in our clients. Key Employees Last week, I wrote about the risk of more than 50% of your revenue coming from one client... but what about...
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Small Business Essentials... Part 1

Small Business Essentials... Part 1
Most small business people start a business without any idea of the true challenge they are facing. I felt like that when my first child was born. Being a good Dad or Mom is lot's of work. You constantly change and adapt your parenting methods as your child grows. The same...
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Small Business... Golden Eggs? Or the Good that Lays Them?

Small Business...  Golden Eggs? Or the Good that Lays Them?
Whenever we get a new SMB (small midsize business) client, the client is usually in some sort of emotional pain. Most of the time, the pain is the result of not making accounting for their business a priority. I understand why people don't make it a priority. It's boring, it's difficult...
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Charitable Contributions as a Business Expense

Charitable Contributions as a Business Expense
Our small business clients are generous people, contributing thousands of dollars this year to charities, churches and other organizations. While the charitable deduction in the tax code encourages people of financial means to help their fellow citizens - most simply do it for the goodwill of helping others. But, our SMB...
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2012 Tax Filing Season Delayed Because of Last Minute Legislation

2012 Tax Filing Season Delayed Because of Last Minute Legislation
There is a lot going on here at Fisher CPA Firm. Last Friday, we launched our new website. This website is a constantly changing website. It will continue to expand and grow so we can more effectively communicate with you, our clients, friends and supporters of our firm. We also have...
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The Marriage Tax Penalty.. Another Reason Why People Don't Get Married

The Marriage Tax Penalty..  Another Reason Why People Don't Get Married
According to the 2010 Census, almost 24% of men, and 19% of women, between the ages of 35 and 44, have never been married. People between the ages of 20 and 34 - the prime-childbearing years - the numbers are much higher: 67% of men and 57% of women have never...
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Simple Home Office Deduction Calculation Does Not Make Qualifying Easier

Simple Home Office Deduction Calculation Does Not Make Qualifying Easier
Last week, we talked about the new Simplified Home Office Deduction Calculation.... People claiming the Home Office Deduction will now have the option of taking a flat $5/square foot of home office space (up to a maximum deduction of $1,500), or calculating the deduction based on actual expenses. This is a...
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Simplified Home Office Deduction Calculation

Simplified Home Office Deduction Calculation
The IRS is always coming up with new rules and regulations. The myriad of rules and regulations makes it extremely difficult for the average person to know the rules. There is even arguments between CPA's about interpretation of certain rules. This week, in an attempt to reduce calculation time by taxpayers...
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Federal Tax Changes for 2013

Federal Tax Changes for 2013
With the Healthcare Act and The American Taxpayer Relief Act of 2012, most business owners are confused about what the current tax law actually is. Keeping track of the constantly changing tax code and how to apply the new rules is difficult for many tax preparers, so the confusion of business...
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The American Taxpayer Relief Act of 2012

The American Taxpayer Relief Act of 2012
Well Congress and the President (or should I say Vice President) finally did something to prevent taxes from going up on most Americans as we came to the edge of the fiscal cliff. Today we are looking at what they did and what lasting impact this legislation will have on you,...
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If Santa Was Our Client

If Santa Was Our Client
I have always had an active imagination. I love to dream of what if........So today, I decided to blend reality with fiction with the question....... "If Santa was Our Client, what could we do for him?" Get the Right Business Structure The opportunities to do business with Santa Claus are immense....
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Deduct Your Employee Christmas Party

Deduct Your Employee Christmas Party
The season of Holiday parties is upon us and I have been lucky enough to attend some wonderful parties. My clients really know how to celebrate and show their appreciation! These business owners will be excited to hear that their Annual Employee Holiday party is 100% deductible! What type of party...
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Purpose of Your Business

Purpose of Your Business
We are rapidly approaching year end. At this time of year most businesses are busy planning for the next year. I find that the majority of small businesses do a poor job of planning and/or communicating the plan to their employees and key vendors - if they plan at all. I...
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Standard Mileage Rate Increased

Standard Mileage Rate Increased
While Congress and the President are negotiating a solution to avoid the nation plunging over the fiscal cliff issues, the IRS has been busy. The Head of the IRS Doug Shulman stepped down on November 11th, and the IRS is bracing for last minute legislation that could delay the tax filing...
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Reduce Spending BEFORE Raising Taxes

Reduce Spending BEFORE Raising Taxes
The political missiles are loaded and the count down has begun. The standoff over resolving the fiscal issues of our country continues. The headlines state that the battle is over whether rates should be raised on the so called rich, but in the background there is quite a fight over the...
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Limiting Your Thoughts Will Limit Your Growth

Limiting Your Thoughts Will Limit Your Growth
Did you know that what you believe can limit how much money you make? It is true!!! Certain thoughts and beliefs about you having money and people who have money can limit how much you ultimately make. Recent events are actually shaping peoples views about those who have money. The battle...
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Obama Relected... Can He Unite the Parties?

Obama Relected... Can He Unite the Parties?
The Presidential election is over and we now know who our President will be for the next four years. President Obama is now facing a difficult task of uniting a divided country. Even though his victory seems big in the electoral vote, he received only 50% of the popular vote. That...
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Mitt Romney on Taxes

Today I am taking a look at the tax policies of Mitt Romney. Unlike President Obama, Romney doesn't have a track record to run on regarding taxes. We know he pays an extremely low tax rate for his income level and he is very rich. His tax proposals are different from...
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President Obama on Taxes

We are writing a series on the Presidential candidates and their tax policies. I am looking at each candidates tax policy based upon their financial impact on the small business person. In 6 days we are voting for President and it is going to be an extremely close race. I realize...
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