Monthly Archives: January 2010

I’m mad. Why aren’t CPAs volunteering to help businesses and individuals here in our economic disaster?

Don’t get me wrong.  I think it’s wonderful that CPAs are volunteering to assist those poor souls in Haiti.  I congratulate and thank them.  And I am not equating our country’s situation to that in Haiti, where hundreds of thousands of … Continue reading

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Is it time to give your CPA the boot?

It’s that time of year again to assemble all of your financial information and bring it to your Certified Public Accountant. However, some of you may be dissatisfied with your current Certified Public Accountant and are contemplating a change.   In … Continue reading

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Beware the Ides of March and April, QuickBooks Users!

Tax time is here for S Corps, Limited Liability Companies, Sole Proprietorships, and many C Corps. And many rely on QuickBooks as their accounting software. And every year starting about now, we certified public accountants receive these companies’ QuickBooks files in various … Continue reading

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Never Deselect Warning Messages in QuickBooks

There are a host of warning messages in QuickBooks.  Unfortunately, QuickBooks allows the user not to display them.  This is a weakness of QuickBooks, since many users are unaware of the full significance of these warnings. An abundant error committed … Continue reading

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Job Status Feature in QuickBooks Leaves Much to Be Desired

QuickBooks Contractor Edition has been highly publicized as the ideal affordable software package for small contractors.  And it does offer a job costing feature; however, producing standard job costing reports is no easy manner in QuickBooks, particularly when one desires … Continue reading

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Question Received on “Ordinary and Necessary Expenses”

I received the following question from someone on the application of Section 162/212 of the Internal Revenue Code, asking whether expenses incurred by a Corporation in connection with a stock transfer between stockholders are tax deductible by a Corporation. “I just … Continue reading

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January 15th is approaching! Mail in your estimated tax payment to avoid penalties and interest charges!

If you haven’t done so already, it’s that most awful time of the year to prepare your final estimated tax payment if you owe federal income taxes of at least $1,000. To determine the amount of your final estimated tax … Continue reading

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Some Tax Tidbits Regarding Dependents

Just because your parents or someone else can claim you as a dependent does not necessarily mean that you do not have to file a tax return.  That determination is based on your earned and unearned income during the year, … Continue reading

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Why Do We Always Ask Race, Gender, Age, Marital Status?

I am puzzled.  We claim to be so civilized.  We assert that we do not discriminate.  However, why is it that virtually every application, form, etc., asks us what race we are, what our gender is, what our age is, … Continue reading

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“Here I come to save the day!” Mighty Accountant is on the way!!

  Having problems with your taxes, accounting, QuickBooks? Do not fear, Mighty Accountant is here! “Mr. Trouble never hangs around, when he hears this mighty sound. ‘Here I come to save the day’, that means that Mighty Accountant is on … Continue reading

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