It’s Tax Time.

Nobody is a big fan of filing their taxes.  Even if you think you have a refund coming it is still imperative that you give this task prime consideration this time of year.  You should do that for a couple of reasons - if you have a refund why not grab it sooner than later?  And the obvious, it is going to get busier and busier at Las Vegas accounting offices.

Here is a partial checklist of what to bring to the table –

1.  Any and all W-2’s

2.  1099’s with any interest that you have accrued in 2016

3.  Stock and other dividends that you received last year

4.  Unemployment compensation

5.  Social security benefits

Of course, there is more to consider, especially if you are a Nevada business owner.  Like it or not, the time is nigh.  Getting your taxes prepared by the right person is vitally important.  If you can, resist the urge to have them prepared at a “cookie-cutter” location with a national name.  Call a real Las Vegas CPA professional - Mike Mathews from www.accountant-lasvegas.com at (702) 240-5237 and make an appointment at his Regatta Drive location.

Happy Tax Year.

Oh, come on.  Happy tax year?  Well, it is a New Year reality.  If you’re on top of your personal finances it is not something that you put off until mid-April…or mid-March if you own a business.  The financial statements will soon start appearing in your mailbox.  Gather them together and make an appointment.  If you have a refund coming don’t you want to know sooner rather than later?

Start the process by getting to know a good certified public accountant in Las Vegas.  Retain the services of someone with many years of experience in handling individual AND business tax returns.  Try not to fall into the trap that so many do and just pull in to that strip mall where you see the teenager with the spinning sign.  You want and need personal attention at tax time.

The proper advice and counsel from a great CPA is worth its weight in gold.  It is like so many other services.  If you try to get by on the cheap you will pay dearly for it later.  May we suggest Las Vegas CPA Michael S. Mathews?  He will represent you every step of the way during the process including answering IRS questions in a timely fashion.  Call him in January to make an appointment at his beautiful office in Northwest Vegas at (702) 240-5237.

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.

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.