CPA Blog

CPA & Accounting Topics for Business

Retirement Planning Options For Small Business Owners

Retirement Planning Options For Small Business Owners
According to a recent BMO Wealth Management survey of 400 small business owners, only a fraction of America’s entrepreneurs are prepared for retirement. A striking 75% of survey respondents age 18 to 64 have saved less than $100,000 for retirement. Those age 45 to 64 are only marginally more prepared:...
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What Makes a Gift Taxable?

What Makes a Gift Taxable?
Taxpayers who give money or property to others may wonder about the federal gift tax and if it applies. Most gifts are not subject to the gift tax. Here are seven tax tips about the gift tax and giving: Nontaxable Gifts . The general rule is that any gift is...
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What is Cyber Security Insurance? And Does Your Business Need It?

What is Cyber Security Insurance? And Does Your Business Need It?
There’s no shortage of information out there on how to protect your business from a cyberattack, and a strong defense is crucial. But what if you never get around to taking technological preventative measures and your business gets hit? Or what if the cyberattack has already happened? According to the...
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How to Deduct Travel Expenses

How to Deduct Travel Expenses
When it comes to travel expenses related to your business, the IRS allows you to deduct two types: local and “away from home”. Local You can deduct local transportation expenses incurred for business purposes such as the cost of getting from one location to another via public transportation, rental car,...
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Watch Out For These Recent Tax Scams

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There’s an array of evolving tax scams related to identity theft and refund fraud that you need to be aware of. Here are some of the latest schemes: Requesting fake tax payments : The IRS has seen automated calls where scammers leave urgent callback requests telling taxpayers to call back...
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Fisher CPA Firm Mobile App Is Now Available For Download

Fisher CPA Firm Mobile App Is Now Available For Download
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The all new Fisher CPA Firm Mobile App is now available for download at both Google Play & the Apple App Store. Simple search "Fisher CPA Firm" and download the app for free! The app is packed full of resources to help you run your business more efficiently.  Some of...
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Follow These Rules For Your IRA

Follow These Rules For Your IRA
Being the start of a New Year, everyone makes New Year Resolutions, and this year all I ask is that you make your exit strategy and retirement plan one of them. We can help you start that process and evaluate your current IRA if you have one. Setting up an...
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Home is Where the Tax Breaks Are

Home is Where the Tax Breaks Are
  Are you a homeowner? Take a look at the following list of tax breaks. There may be some here that you don’t know about. Questions? Ask us. Mortgage Interest. If you own a home with an unrelated taxpayer, you are now each entitled to a mortgage interest deduction of...
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Classifying Workers: A Taxing Situation

Classifying Workers: A Taxing Situation
Every time you hire paid help in your business, you need to make an important distinction: is the worker an employee or an independent contractor? This classification is important because it determines which taxes get paid, when they get paid, and by whom. Misclassifying employees as independent contractors results in...
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Just Married or Re-Married? These Tax Tips Are For You

Just Married or Re-Married? These Tax Tips Are For You
Congratulations, newlyweds! While it may not have been on your registry, we’re pretty sure you’ll appreciate the gift of these tips to help you avoid trouble at tax time: Has it Been a Year Already? If you were married anytime in 2017, the IRS considers you to be married for...
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IRS Changes Filing Deadlines for W-2 and 1099

IRS Changes Filing Deadlines for W-2 and 1099
This year some changes will be made to filing deadlines for IRS Form W-2 and some types of Form 1099. The changes are the result of The Protecting Americans from Tax Hikes (PATH) Act of 2015 signed by President Obama. If you’re an employer, you’re probably accustomed to a January...
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Traditional or Roth IRA: Which One to Fund Your Retirement?

Traditional or Roth IRA: Which One to Fund Your Retirement?
Looking to fund your retirement with an IRA? You should know that there are two types: Traditional and Roth. Which is right for you? Following are some important details to help you decide: Are You Eligible? Any person with income from wages or self-employment can contribute to an IRA –...
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Smart Businesses Separate Business & Personal Accounts

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One of the biggest mistakes small business owners make is commingling business and personal funds. They fail to set up separate business-only bank accounts. They may pay for business expenses out of a personal account, or vice-versa. When tax time rolls around, these entrepreneurs find themselves in a self-created mess...
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Debt Management Tips for Small Businesses of Houston, Texas

Debt Management Tips for Small Businesses of Houston, Texas
According to a 2016 study by Experian, the average U.S. small business owner has $195,00 0 of debt. Some debt is a natural part of doing business. For example, a business loan, line of credit or business credit card can enable you to purchase equipment, hire employees, and finance growth. Too much debt, however, is...
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Houston Businesses Making the Most of Miscellaneous Deductions

Houston Businesses Making the Most of Miscellaneous Deductions
What do we mean by “miscellaneous deductions”? Miscellaneous deductions are tax breaks that generally don’t fit into a particular tax category. They can help reduce taxable income and the amount of taxes owed. For example, some employees can deduct certain work expenses like uniforms as miscellaneous deductions. To do that, they must itemize...
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IRS Tips for Preparing for Natural Disasters

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Hurricane season is here, and with it the Internal Revenue Service offers the following advice to taxpayers who may be affected by storms and other natural disasters: Update Emergency Plans. A disaster can strike at any time, so be sure to review emergency plans annually. Personal and business situations change over time, as do preparedness needs. When employers hire...
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Success: It’s All in the Ears

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Success: It's All in the Ears - Business Consulting of The Woodlands Coaches, books, seminars, podcasts, mastermind groups. They’re all wonderful ways of learning how to be successful in life, both personally and professionally. However, there’s one unbeatable tool that gives the best hints in every situation, and it’s already...
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Change is inevitable, are you prepared? - CPA The Woodlands can help.

Change is inevitable, are you prepared? - CPA The Woodlands can help.
Answer these questions when change is coming   Change may be constant in life and business, but resistance to change is pretty constant, too. Whether you’re replacing the key to the front door, acquiring an entirely new business unit or a new software system, your employees want to know what...
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IRS Changes Filing Deadlines for W-2 & 1099 Forms

IRS Changes Filing Deadlines for W-2 & 1099 Forms
Fisher CPA Firm has years of experience in Tax, Accounting, Bookeeping and is located in The Woodlands, TX   This year some changes will be made to filing deadlines for IRS Form W-2 and some types of 1099. The changes are the result of The Protecting Americans from Tax Hikes...
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ATTN ALL BUSINESS OWNERS: Accounting Method Change Required by the IRS

ATTN ALL BUSINESS OWNERS: Accounting Method Change Required by the IRS
Final Tangible Property Regulations For decades, the IRS and taxpayers have fought over expenditures classified as Repairs vs. Capitalization. You, the SMB owner, want to write off your expenditures as repairs to reduce your taxes, while the IRS wants you to capitalize your expenditures forcing you to depreciate that expenditure...
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