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.

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.

Why do we Pay Taxes?

Since 1950, individual income taxes have been the primary source of revenue for the U.S. federal government.  Along with payroll taxes, income taxes amount to about four-fifths of all federal revenue and are the essential fuel on which our government runs.  Don’t you feel better already?

The history of income taxes in the United States goes back to the Civil War when Abe Lincoln signed into law the nation’s first-ever tax on personal income to help pay for the Union war effort.  Eventually, in 1909 Congress passed the 16th amendment which allowed the federal government to tax individual personal income.

I just wanted you to know a bit of the history of American taxation as we approach the New Year and income tax time.  I hope that early in 2020 you will give me a call and set up an appointment to have your 2019 tax return prepared.  I am Las Vegas CPA Michael Mathews.  My office is located at 2620 Regatta Dr. Suite 102.  Merry Christmas and Happy New Year to all of my friends current and future in Las Vegas.

When Do You Want to Know your Financial Situation?

For some people it is like going to the doctor to find out how your body is doing.  Some of us tend to put off our annual visit to a top-flight tax preparer fearing the worst.  So, without overstating the obvious, what are some of the primary reasons why you should make an appointment with Michael Mathews as soon as possible?

Among those reasons are –

1.  Early filers usually get larger refunds…that’s what the IRS says (You gonna argue?)

2.  You protect your refunds from identity theft.

3.  If you do have a tax bill you have time to plan.

4.  Very little “waiting until the last minute” stress.

These reasons (among others) should be motivation enough to call Las Vegas CPA and IRS tax accountant Michael Mathews.  People in every corridor of Clark County have trusted Michael to prepare their taxes and handle their accounting for years.  Make an appointment at his office located at 2620 Regatta Dr. Suite 102 in the beautiful Northwest by calling (702) 240-5237.   

Andrea Bocelli at the MGM Grand Garden Arena

Andrea Bocelli at the MGM Grand Garden Arena

 (Click the link above for more information)

A rare live performance

One of the world's most successful classical crossover and multi-instrumentalist performers, Andrea Bocelli's passion for music has always been with him, since learning to play the piano as a young boy in Tuscany, Italy. Since then, he has gone on to sell 80 million records, win a Golden Globe Award and be honored with a star on the Hollywood Walk of Fame for his services to Live Theatre.

Banks Operate on Their Terms…and Their Schedule.

Banks love to give out loans, but only on THEIR terms!  To obtain a bank loan anywhere in the Las Vegas area you will first need to prepare a financial statement.  You may be very good at it on your own, but a certified public accountant is better suited for the job.  This is something that they do for a living, crunching the numbers and eliminating any emotion.

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

1.  They will gather all the documentation that is necessary for the task.

2.  You should count on them to carefully review financial data for any errors.

3.  They record and adjust journal entries.

4.  A good CPA will also draft a final statement complete with notation.

You can walk into your local bank with supreme confidence!  Perhaps you could not have done that without the help of a professional.  One of the very best certified public accountants around 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.

Understanding a Client’s Needs.

Here is the bottom line.  If you tell 50 people something, you will get 50 different responses and levels of understanding.  Michael Mathews is one of the top CPA’s in the Las Vegas area.  He could work for a huge firm if he wanted to, but he would rather help you with your personal and/business finances one-on-one.

Here are some of the things he has learned over the years –

1.  He needs to understand what has made you successful.

2.  He has learned from colleagues and competitors.

3.  He knows that he must build trust.

4.  He invests in each individual that he serves.

Sure, you could go to a larger CPA firm in Las Vegas and be handed off to the “next man up” or you could trust your financial present and future to Las Vegas CPA Michael Mathews.  Make an appointment to see him early in the new year at his beautiful office located at 2620 Regatta Dr. Suite 102 in the Northwest by calling (702) 240-5237.