Wednesday, December 14, 2016

Was 2016 Your First Year as a Business Owner?

If this year was your inaugural year as the owner of a business in the state of Nevada congratulations!  You are both adventuresome and courageous.  You knew going in that there could be a change in administration.  And while things remain at status quo on a state-wide basis the nation at large will probably undergo some changes business-wise in the next four years.

Did you mark March 15th on your calendar?  What…MARCH 15?  Haven’t you always filed your taxes on April 15th?  That is true, but for business owners the tax deadline is one month earlier.  That is only 3 months away and you have far more paperwork to consolidate this tax season than you did in the past so it is not too soon for a head’s up.

Before March 15th you will need to hire a trained CPA to sort through your first year’s business accounting.  In our growing city, here is a great choice - Las Vegas CPA, Michael S. Mathews.  From his picturesque office located at 2620 Regatta Drive in NW Las Vegas he will sit down with you and discuss your initial year in business.  Make an appointment with Mike soon at (702) 240-5237.

Monday, November 21, 2016

Understanding Required Minimum Distributions.

With the New Year approaching it is time to get a handle on some of the boring stuff.  I know, but it’s important stuff too!  Required Minimum Distributions or (RMDs) are the bare minimums that those who have a retirement plan must withdraw starting with the year they reach 70 ½.  If you are still working, then that year could be deferred.

In cases where the retirement account is an IRA the RMDs MUST begin at 70 ½.  Whether it is a simple retirement plan or an IRA the owner is solely responsible for taking the correct amount every year from their account.  Failure to do so will result in a stiff penalty from Uncle Sam.  I told you this stuff was boring, but necessary. 

Unless YOU are a trained CPA you don’t want to be responsible for this year after year.  I will tell you someone who IS whom you can trust every New Year.  He is Las Vegas CPA Michael S. Mathews.  From his beautiful office located at 2620 Regatta Drive in Las Vegas he will sit down with you and discuss all of your accounting needs.  Make an appointment with Mike for the New Year at (702) 240-5237.