Monday, March 4, 2019

The Tax Deadline is Coming.

Quick, what is the deadline for filing your 2018 tax return?  Maybe you did not know that this year it is Tuesday April 17th, 2019.  You can dread it or embrace it, but it looms no matter what!  I can think of at least three reasons why you should make an appointment NOW and not wait until the actual deadline.

Here they are –

1.  If there is a chance you have a refund coming…why wait?
2.  Even if you are not sure about a refund it could be much larger than you think.
3.  Take the time to do it right instead of rushing.

I don’t want to sound like a car dealer, but when I tell you to come in as soon as possible.  It may be in your best interests.  Why not call me today and make an appointment for March instead of April so that we may go over your 2018 taxes calmly and efficiently?  I am Las Vegas CPA Michael Mathews located at 2620 Regatta Dr. in NW Las Vegas.  Call for an appointment even if you are waiting until April at (702) 240-5237.

Wednesday, February 20, 2019

What is an S Corporation?

S corporations are created to pass corporate income, losses, deductions, and credits through to their shareholders for federal tax purposes.  That is especially good to know this time of year.  This allows S corporations to avoid double taxation on corporate income.  S corps are responsible for tax on certain built-in gains and passive income at the entity level.

To qualify, you need to meet some of the following criteria –

1.  Your company must be domestic.
2.  You have no more than 100 shareholders.
3.  You must be eligible to be an S corporation.  Ask your accountant.

Specifically, the right CPA and corporation formation counselor in Las Vegas may well be Michael Mathews.  If you are thinking of filing for an S-Corp or you are already operating under one and you live anywhere in the Las Vegas area, arrange an appointment with Michael Mathews at his Desert Shores office by calling (702) 240-5237.

Tuesday, February 5, 2019

What is a 1099-Misc Form?

What is this mysterious tax form and when is it due?  Well, as it turns out, it is a tax return document used to report miscellaneous payments made to nonemployee individuals, such as independent contractors, during the calendar year.  Are you affected by this form in one way or another?

Form 1099-MISC should be filed for each person to whom an employer has paid one or more of the following –

1.  At least $600 in services, prizes, or awards
2.  At least $10 in royalties (that’s right…just $10!)
3.  The gross proceeds paid to an attorney

That’s not all.  If you had direct sales of more than $5000 in sales of consumer products anywhere except to a permanent retail establishment you may qualify for form 1099-Misc.  It is just another potential pothole on the road to complying with Uncle Sam this Spring.  For all of your tax preparation needs in the Las Vegas area count on CPA Michael Mathews.  Make an appointment with Michael today by calling (702) 240-5237.

Monday, January 14, 2019

Important Tax Dates.

Before you became a business owner you had one date emblazoned on your brain for filing your yearly tax returns.  All of us know that April 15th (or later if there is a weekend or holiday on that date) is the deadline.  If you became a new business owner last year, then learn this NEW date.  It is March 15th.

What??? March 15th is a month too early isn’t it?  No, not for business tax returns it isn’t!  Form 1065 and Schedule K-1 for each partner must be submitted to Uncle Sam by March 15th 2019 (unless you have or will file for an extension).  S-Corporation returns via form 1120 S are also due by March 15th.

You really do not have time to procrastinate.  It may be mid-January, but it is time to make an appointment with Las Vegas CPA and tax consultant Michael Mathews at his Northwest Las Vegas office at 620 Regatta Drive Suite 102.  Don’t let March 15th sneak up on you!  Call Michael Mathews today at (702) 240-5237.

Things To Do In Las Vegas In January 2019 - Shows, Events, Concerts

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Las Vegas always has lots to do and enjoy.  Find your sweet spot for January 2019 and enjoy all the city has to offer! 

Wednesday, January 2, 2019

It’s Never Too Early.

Take a tip from the voting public last November.  They showed up in record numbers to vote early BEFORE Election Day.  Every year Americans wait until the last possible minute to make an appointment to file their federal income tax returns.  If you might be eligible for a refund, that makes even less sense!

Here are some reasons to file in January –

1.  Faster Refunds…last year the IRS began accepting returns on January 29th.
2.  Knowing your liability and giving yourself extra time to pay it.
3.  Obtaining important financial information to prepare for expected life changes.
4.  Eliminate the need to file an extension.
5.  Crooks can’t get ahold of your financials and file a return before you do.

That last point is relatively new to the list, but every bit as relevant.  Why wait until even March or April?  File your tax returns now.  Please give me a call as soon as you can, and we will make an appointment at my office located in Desert Shores at 2620 Regatta Dr. Suite 102.  I am Las Vegas CPA and tax preparer Michael Mathews.  Just call (702) 240-5237.

Tuesday, December 25, 2018

New Year's Eve in Las Vegas!

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Gather your friends and family and make your plans to bring in 2019 together!  There's something for everyone!