Start Ramping up for the Good Life.

We are about to embark on the 2nd half of 2019.  Doesn’t 2020 sound like a good year to retire?  For some of the Valley’s two-million plus residents 2020 is the big year.  If you own a business in the Las Vegas area you probably can’t just walk away from it and expect everything to change on January 1st, 2020.

Here are some tips –

1.  Choose a traditional strategy using your business to fund your retirement.

2.  Establish a simple IRA.

3.  Set up an SEP IRA.  Business owners and employees can both contribute.

4.  Develop a clear exit strategy for yourself.

5.  Speak with a financial advisor.

That final point is the key to your retirement success!  Michael Matthews, a Las Vegas area CPA, is ready to sit down with you and plan the next phase of your life.  Retirement takes planning and there is no one better at it in The Valley than Michael.  Set up an appointment at his office located at 2620 Regatta Dr. Suite 102 in the Northwest by calling (702) 240-5237.

Happy New Year!

Say what?  Well, maybe we should say happy new TAX year in some cases around the Valley.  A “tax year” is an annual accounting period for keeping records and reporting income and expenses.  An annual accounting period does not include a short tax year.  Maybe this applies to you and your business at the end of June.

If any of the following apply, you must adopt the calendar year –

1.  If you keep no books or records

2.  You have not adopted a regular accounting period

3.  Your present tax year does not qualify as a FISCAL year

4.  You are required to use a calendar year by the IRS

Let Las Vegas CPA Michael Mathews help you sort it out.  Do you own a business that would be better served by filing its annual taxes at mid-year rather than early in the next calendar year?  Then contact Michael and make sure that you do it the right way.  Michael is available as always by calling (702) 240-5237.  Make an appointment at 2620 Regatta Dr. Suite 102 soon.  

Need a Loan…Get a Loan.

Make no mistake about it, banks want to give out loans - on THEIR terms!  To get a bank loan in the Las Vegas area you will need to prepare a financial statement first.  You may be great at it, but a certified public accountant is better.  This is something that they do for a living, crunching the numbers and eliminating the emotion.

Here are some of the things that a CPA will do –

1.  Gather all the documentation that is necessary

2.  Carefully review financial data for errors

3.  Recording and adjusting journal entries

4.  Draft a final statement complete with notes

Now you can walk into your favorite local bank with confidence!  That may not be something you could have done without the help of a professional.  One of the very best certified public accountants in the business is right here in Northwest Las Vegas.  His name is Michael Mathews.  Make an appointment at his office at 2620 Regatta Dr. Suite 102 by calling (702) 240-5237.  

Ahhh…Another Tax Season is Behind Us!

Of course, many people only visit their accountant once a year.  Business owners, however, generally speak with their tax professional much more.  So how does an individual investor weave through the maze of deductions and create a tax plan?  It should start with having an open and comfortable relationship with your CPA.

Here are some things you can do in May and beyond –

1.  Talk to your accountant about your financial hopes and dreams.

2.  Ask them if you have taken all deductions into consideration.

3.  You should ask about retirement plans…especially if you are self-employed.

4.  Should you consider converting a traditional IRA to a Roth?

5.  What about giving gifts to family members?

It is just the beginning of the dialogue that you should be having with your CPA during the “off-season”.  In Las Vegas, many entrepreneurs count on the knowledge and expertise of CPA Michael Mathews who serves the Las Vegas area from his office located at 2620 Regatta Dr. Suite 102.  This is a great time of year to call him at (702) 240-5237.    

Events in Las Vegas - May 2019

Las Vegas May 2019

(Click the link above for more information)

May is your last chance to enjoy some easy weather before the triple-digit heat of summer fully kicks in. The month is full of culinary festivals and big events. 

What if I Simply Don’t Have the Money to Pay my Taxes Right Now?

Millions of Americans are faced with that dilemma this time of year as April 17th approaches.  If you cannot pay the full amount of taxes you owe, you should still file your return by the deadline and pay as much as you can to avoid penalties and interest.  You may also call the IRS and review your payment options or have a professional advise you.

The great news is that there may be some relief.  You could file a six-month extension in the filing of your tax return.  Penalties and interest still apply to the unpaid taxes.  You could also file on April the 15th (or before) and work out a reasonable installment agreement with Uncle Sam at that time.

Whatever you may be going through, Las Vegas tax accountant Michael Mathews understands.  He has helped many Las Vegas area residents through similar challenges throughout the years.  Michael is someone you can trust for tax preparation, retirement, or business start-ups.  Make an appointment at his office located at 2620 Regatta Dr. Suite 102 by calling (702) 240-5237.

Don’t Panic.

Words to live by in many situations…especially as the tax deadline is rapidly approaching.  Our old friends at The Internal Revenue Service remind taxpayers that quick and easy solutions are available if they can’t file their returns or pay their taxes on time, and they can even request relief by going online.

You can get an automatic six-month extension by filing form 4868.  By properly filing this form with the IRS, a taxpayer will avoid the late-filing penalty which is normally five percent per month based on the unpaid balance, that applies to returns filed after the deadline.

Let Las Vegas CPA Michael Mathews help you sort it all out.  There are two questions…what do you want to do now, and what do you plan on doing in the future?  Important tax, business, and investment questions always pop up at this time of year.  Call Michael Mathews at (702) 240-5237 and plan a meeting at his office located at 2620 Regatta Drive Suite 102 in Las Vegas.