CPA Blog

CPA & Accounting Topics for Business
Oct
04

The Importance of 1099s

The Importance of 1099s
Last week, we talked about penalties associated with undeclared income. Undeclared income is a big problem for the IRS. The IRS estimates that $450 billion is undeclared annually. They claim that over the past thirty years undeclared income has ranged from 16 to 20 percent of total tax liability. Some estimates...
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  1484 Hits
1484 Hits
Apr
05

Maximize Your Meal Tax Deductions

Maximize Your Meal Tax Deductions
One of the most misunderstood business tax deduction is meals. Many of my clients - including myself like to entertain. Whether it's taking a business client to lunch or throwing a party for our employees - networking and building relationships is important to a small business. However, sometimes these activities can...
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  1530 Hits
1530 Hits
Feb
01

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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  1238 Hits
1238 Hits
May
25

Deduct Your Summer Vacation

Deduct Your Summer Vacation
School is almost out and I bet you are ready for a vacation. However, with the increasing cost of airfare, gas, hotels and meals while on the road, it's expensive to get away this year. Wouldn't it be nice if we could deduct the costs of some family-time away from home?...
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  1377 Hits
1377 Hits
May
18

Not So Charitable Deductions

Not So Charitable Deductions
I got a text last week from my daughter who is in college. She is a junior at The University of Texas and very active in philanthropy at the school. Her text was brief as usual, "hey Dad I just donated $50 to a charity, should I save the receipt so...
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  1313 Hits
1313 Hits
Mar
29

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

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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  1494 Hits
1494 Hits
Mar
02

Tax the Other Guy, Too!

Tax the Other Guy, Too!
Did you know that 46.9% of all people who file tax returns pay no taxes at all? Did you know that people who represent the top 10% of wage earners (adjusted gross income of $112,124) pay 70% of the taxes? Yes it is true. Almost ½ of all people who file...
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  1477 Hits
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1477 Hits
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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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