Friday, February 16, 2018

Filing Taxes for a Partnership.

First of all, it is important to remember that business taxes are due on March 15th NOT April 15th.  Partnerships do not pay federal income tax. Rather, the partnership’s income, losses, deductions and credits pass through to the partners themselves, who report these amounts—and pay taxes on them—as part of their personal income tax returns.

Now, even though partnerships aren’t taxed, they must file a tax return each year unless the partnership has no income or expenses.  What will the return show?  The return will show the partnership’s total income, deductions and credits.  Partnerships also must prepare schedules showing each partner’s share of the business income or loss.   

Preparing your tax return is my business.  I am Las Vegas CPA Michael Mathews.  For the full range of my services please browse my website at  Let’s make 2018 your most stress-free tax preparation process ever.  Even my location reduces stress at 2620 Regatta Dr. Suite 102!  Call for an appointment at (702) 240-5237. 

Thursday, February 15, 2018

Don't Miss Diana Ross - The Original Diva

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"Armed with a catalogue which stretches back some 60 years, from her work with The Supremes (Baby Love, Where Did Our Love Go?) to her solo material (I'm Coming Out, Ain't No Mountain High Enough) Ross will be touring across America."

Thursday, February 1, 2018

LLC Tax Preparation.

First of all, here is a tutorial.  If an LLC is taxed as a sole proprietorship it does not fill out any tax return whatsoever; instead, one of the members records all income and expenses on Schedule C of his or her individual tax return, or 1040. An LLC that is taxed as a partnership files Form 1065, and an LLC that is taxed as a corporation files Form 1120.

In the aftermath, when you create the LLC, the IRS automatically treats your business as a partnership.  This is only for income tax purposes!  However, if you are the sole owner of the LLC, then you must pay tax on business profits as if you were a sole proprietor instead of an LLC.  Both designations have different tax filing rules.

You need a professional CPA to sort all of this out.  That person in Las Vegas is CPA Michael Mathews.  He is the CEO of  You can’t do better than trusting Michael for your LLC tax preparation in the Las Vegas Valley.  Call today at (720) 240-1537 to make an appointment at his Regatta Drive office located in the Northwest Valley.

Tuesday, January 30, 2018

Big Game Party at Hard Rock Cafe on the Strip

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"Pick your team, throw on your jersey and head on over to the Hard Rock Cafe on the Strip for a Big Game party unlike any other you've experienced."

Wednesday, January 17, 2018

When are Business Taxes Due in 2018?

Your business’s tax return deadline is based on its entity type, whether or not you plan on filing an extension, and if there are any weekend or federal holidays in the picture.  Depending on your type of business those filing dates will vary this year.  The important thing to always remember is…DON’T be late!

The date for S Corps and partnerships is March 15, 2018.  This year the deadline for C Corps and individuals is April 17th.  Exempt organizations need to file by May 15th.  By filing for an extension those dates fall on September 17, October 15, and November 15th for the previously mentioned exempt organizations.

These dates, especially the ones without extensions are quickly arriving.  It is time to get serious about your return.  Michael Mathews CPA is your professional business tax preparer in Las Vegas.  Make an appointment at his 2620 Regatta Dr. Suite 102 office today by calling (702) 240-5237.  Believe me, you’ll be glad that you got ahead of the curve!

The Walking Gourmet. Eat. Drink. Walk. Repeat.

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"The Walking Gourmet™ is a food tasting exploration of the many eclectic tastes of Las Vegas."

Wednesday, January 3, 2018

When Will I get My W-2?

We don’t think about it until this time of year.  The W-2.  It is the record of our earnings for the previous year.  When does your employer have to put this document in your possession?  Remember, each and every company for whom you worked in 2017 must provide one to EVERY working person in your household.

Remember this, even if you do not receive your W-2 form before the tax filing season ends, you still must file your taxes or request a six-month extension by the tax-filing deadline.  If you’ve contacted both your employer as well as the IRS and you are NOT filing for an extension, fill out Form 4852, the substitute for the W-2.

Yes, ‘tis the season to prepare.  Maybe not our favorite time coming off the holidays, but absolutely necessary!  Michael Mathews Las Vegas CPA is ready when you have all of your paperwork together.  Make an early appointment at his Northwest office located at 2620 Regatta Dr. Suite 102 by calling (702) 240-5237.