So to celebrate both the New Year and the beginning of tax season (at least for me), I decided to go looking for a funny accounting video talking about tax season and the fun parts of it. This video was posted on YouTube by OneSource global and hits the nail on the head: http://www.youtube.com/watch?v=4v_alwa4V_Y Actually this video simplifies our ‘fun’ during tax season (I have never worked 22 hours in a day on taxes, but have come close a time or two in 33 years) as I have run into almost all the other situations discussed. So let’s get out there and send our clients multiple copies of their taxes from 2012 as they have lost them (again)! For financial, accounting and tax musings, You can count on us to count for you! Email: bstonercpa@sbcglobal.net Phone: 818-317-6035 Website: www.briantstonercpa.com Has been Featured On https://twitter.com/bstonercpa
Tax Musings of a Burbank CPA: Here is a Great Explanation of S Corporation Reasonable Compensation!
If you have been reading my blog over the last few months, I have spent a lot of time discussing S Corporation ‘reasonable compensation’ issues for corporate shareholders and why the IRS is starting to target this issue. I found a really good discussion and explanation of how ‘reasonable compnsation’ works in this posting on AccountingToday by David J. Kautter. He spells it out pretty good: http://www.accountingtoday.com/news/Best-Practices-Setting-Reasonable-Compensation-Small-Business-Owners-69219-1.html If you are an S Corporation owner and have looked at this article, now you have enough information to be able to ask, what do I do! If you want to call or email me, we can talk about planning issues that should help in the future. For financial, accounting and tax musings, You can count on us to count for you! Email: bstonercpa@sbcglobal.net Phone: 818-317-6035 Website: www.briantstonercpa.com Has been Featured On https://twitter.com/bstonercpa
Financial Musings of a California CPA: Young Boomers, Get to Saving; You Can Still Catch Up!
Are you in your fifties, now (A Baby Boomer)? Perhaps in your forties (A Gen-Xer)? Or a thirty-something (A Millennial)? Are you on track in your retirement savings? No? There is still time! This posting in MarketWatch from the Wall Street Journal focuses on how the youngest of the Baby Boomers turn 50 this year and how they can get their retirement savings back on track. The article by Carolyn Greer also has some thoughts about Gen-Xers (in their 40s) and Millennials (in their 30s) and saving for their retirement, too: http://online.wsj.com/news/articles/SB10001424052702304137304579292610918046266 The most important part of the whole cycle is to get started! Boomers have to catch up and Gen-xers and Millennials have to start saving to take advantage of compounding. This is going to take some planning and some pain to be able to comfortably retire when you want to. For financial, accounting and tax musings, You can count on us to count for you! Email: bstonercpa@sbcglobal.net Phone: 818-317-6035 Website: www.briantstonercpa.com Has been Featured On https://twitter.com/bstonercpa