Tuesday, April 21, 2020

Prepare that Checklist.

If you are preparing to call a top-flight Las Vegas area accountant to properly and accurately prepare your taxes it is just as important to bring the right paperwork with you.  It is always easy to forget something.  I hope that by giving you a decent checklist to work from, it will help me complete the process as swiftly and efficiently as possible.

Here are six important things that come to mind –

1.  Identification…who you are and say you are
2.  A copy of your most recent return
3.  A W-2 from your employer
4.  Any additional income statements
5.  Any potential real estate documents
6.  Proof of last year’s expenses

Let’s be prepared so that I might prepare your 2020 income tax return in a fast, fair, and affordable manner.  My name is Michael Mathews.  For years I have been helping Las Vegas individuals and business owners with a variety of CPA services.  It’s tax time.  Please call me for an appointment at my Regatta Drive office at (720) 240-5237.

Tuesday, March 17, 2020

Better Late than Never…or Is It?


The IRS applies late penalties and interest on a case-by-case basis and will send a separate bill if penalties apply.  Because the IRS has the final word on penalties, I can't calculate the exact amount if your return is late, but I can supply some the info that will give you an idea of what to expect in certain scenarios.

Late filing penalties apply if you owe taxes and didn't file your return or extension by April 15, 2020.  In the case of interest, which is compounded daily, the late payment penalty is 0.5% of the additional tax owed amount for every month.  Interest starts accumulating on unpaid taxes one day after the due date of the return.

Maybe there is no good reason to file late (or at least properly apply for an extension).  Let’s find out together.  I am Las Vegas CPA and tax preparation professional Michael Mathews.  My office is located at the Lakes at 2620 Regatta Drive in the Northwest part of Vegas.  I serve the entire Valley.  Please call me at (702) 240 -5237.

Tuesday, March 10, 2020

St. Patrick's Day 2020 Who Was St. Patrick? Why Do We Celebrate St. Patrick's Day?

(Click the link above for more information)

"Saint Patrick’s Day is on Tuesday, March 17, this year! Who was Saint Patrick? Why are shamrocks a symbol of this day? Enjoy St. Patrick’s Day history, legends, and lore."

Wednesday, March 4, 2020

New Rules.

Changes in tax and retirement law for 2020 will allow Americans to save more money this year than last.  According to Geltrude & Company Founder, Dan Geltrude, there is an opportunity to put money away tax deferred.  The Secure Act which became law at the start of this year, will help taxpayers use their tax savings to invest in their future retirement.

In addition, the IRS raised the cap on 401(k) contributions by $500 to $19,500.  People 50 and older can contribute an additional $6500 as part of their catch-up contributions. That’s also $500 more than last year. One incentive to save is that traditional pre-tax contributions to a 401(k) can reduce your adjusted gross income or taxable income.

Las Vegas CPA, Michael Mathews, wants you to know.  He is ready to help you prepare your IRS tax form before the mid-April deadline.  Make sure that this year everything is done 100% correctly by trusting Michael.  He can be found on the web at accountant-lasvegas.com.  Just give him a call and make an appointment at his Northwest Las Vegas location (702) 240 - 5237.

Monday, February 17, 2020

911 on the 1099.

So, you are an independent contractor and it is tax season.  What does that mean to you?  What is a 1099 tax form?  It is used to report non-salary income to the IRS for federal tax purposes. There are 20 variants of 1099s, but the most popular is the 1099-MISC.  Let’s explore this most common form of 1099.

The 1099-MISC is the version of Form 1099 that you use to tell the IRS whenever you are paid as an independent contractor, or any other type of self-employed person $600 or more in fees, compensation, real estate rent, prizes, awards, or any other kind of taxable income.  The IRS uses this information to independently verify your income and your federal income tax levels.

Many people in the Las Vegas Valley may have more than just this 1099 tax form to fill out properly.  If you were an employee of a firm AND an independent contractor in 2019, it needs to be done correctly.  You can count on that with the services of Las Vegas CPA and tax preparation expert Michael Mathews.  Give him a call at (702) 240-5237.

Wednesday, February 5, 2020

The Best Time is NOW.

I know that it’s only February and many Americans suffer from a national malady…tax preparation procrastination.  Many things in life come down to timing, and tax returns are no exception. If you wait too long, you could miss the filing deadline, setting you up for interest charges or even penalties.

Here is a new deadline to adopt beginning in 2020…March 15th.  No, not April 15th, March 15th!  The simple truth is a tax preparer's time is his stock in trade and if you want a really good one, you should get on their calendar now, not seven weeks from now.  That just makes common sense and may save you a few bucks.

One of the very best Las Vegas tax preparers is Michael Mathews a well-known and respected CPA serving the Las Vegas Valley.  It’s his time of year and yours as well!  Get your taxes prepared and submitted no later than mid-March by calling Michael Mathews for an appointment at his office located at 2620 Regatta Dr. Suite 102 at (702) 240-5237.

Romantic Things To Do In Las Vegas In 2020 - Valentine's Day

(Click the link above for more information)

"Here are the most romantic things to do in Las Vegas for couples in 2020 on Valentine's day!"

Wednesday, January 15, 2020

Come On, Partner. It’s Time to Settle Up with Uncle Sam.

Now that it is tax time, if you didn’t already know this, partnerships don’t pay federal income tax.  Instead, the partnership’s income, losses, deductions and credits actually pass through to the partners themselves, who report these amounts and pay taxes on them.  This becomes part of their personal income tax returns.

Here are some steps that you will need to follow –

1.  Prepare Form 1065 for business partnerships.
2.  Complete a federal K-1.
3.  File your personal state tax returns.
4.  Report your share of the partnership income or loss on your federal income tax return.

All of this is absolutely necessary to provide Uncle Sam with the proper documentation for your 2019 taxes.  What is also necessary is hiring Las Vegas tax preparer and CPA Michael Mathews.  You might as well make an appointment sooner than later with Michael.  Just call (702) 240-5237 for an appointment at his 2620 Regatta Dr. Suite 102 office.

Thursday, January 9, 2020

Happy New Year…Happy? Tax Season.

Personal financial statements can serve high net-worth individuals in a variety of ways.  These financial statements can help those who are affluent to obtain loans, enter into various investment transactions, develop financial plans or even run for public office.  The New Year is an excellent time to have 2020 financial vision and plan for upcoming opportunities.


Here are some reasons for preparing a personal financial statement –

1.  Obtaining a loan
2.  Various investment opportunities
3.  Meeting the financial requirement of a co-op
4.  Developing a retirement plan
5.  Preparing for a divorce proceeding

Properly prepared personal financial statements can be tricky.  That is why it may be wise to make a New Year’s appointment with Las Vegas CPA and financial statement professional preparer Michael Mathews.  Michael has a beautiful office located at 2620 Regatta Dr. Suite 102.  Call early in 2020 for an appointment at (702) 240-5237.