Ben Smith
Author's posts
Dec 15 2014
12/14/14 – 2014 End of Year Tax Tips Tricks and Traps
Accelerate deductions and defer income · If you have a business with a large job to complete in January, and a lot of supplies you need for that job, consider purchasing the supplies this year. · Pay licensing fees or professional association dues this year if they are normally renewed in January. · Pay your …
Oct 31 2013
IRS Scam Alert
IRS Warns of Pervasive Telephone Scam IRS YouTube Video: WASHINGTON — The Internal Revenue Service today warned consumers about a sophisticated phone scam targeting taxpayers, including recent immigrants, throughout the country. Victims are told they owe money to the IRS and it must be paid promptly through a pre-loaded debit card or wire transfer. If …
Aug 01 2013
Who is Your Hero?
Nominations close Aug. 1 for Money Makers by IBR Staff Published: July 24,2013 Time is nearly up to nominate your favorite financial professional for Money Makers 2013, Idaho Business Review’s new recognition program. In its inaugural year, Money Makers will honor 20 financial professionals whose fiscal work has set the pace – and the bar – for …
Dec 11 2012
Using a Tax Preparer – Or Not
12/11/12 – 8 Tips for Tax Prep Not too long ago, I had a conversation with a colleague who writes for a well-known national magazine. We were talking about finding a tax preparer, and other questions an individual might ask about income taxes. Here are a few tips on the subject of finding the right …
May 24 2012
Small Business Week! IRS Highlights
05/24/12 – For Small Business Week, IRS Spotlights Expanded Tax Credit for Hiring Veterans, Credit for Providing Health Care Coverage to Employees and Tax Relief The Internal Revenue Service is marking Small Business Week, May 20 to 26, by encouraging small business owners to check out two key tax credits and a special relief program …
Apr 17 2012
Happy Tax Day!
04/17/12 – Happy tax day to all of my clients and tax preparer colleagues–the big push is almost over. For those clients, or potential clients who haven’t filed or can’t pay all of the tax they owe, Here’s some information on the penalties from the IRS: Failure to File or Pay Penalties: Eight Facts The number …
Feb 27 2012
Who Says Accountants Don’t Have a Sense of Humor
02/27/12 – Well, it’s nearly halfway through another grueling tax season for most CPAs. We need a little break now and then, and one of my colleagues in LinkedIn’s The American Institute of CPAs group started some trouble. 🙂 Accountant Jokes. Here’s my favorite so far from Tony Spring CPA: The Pope, an IRS agent, and …
Feb 10 2012
New Tax Reporting for Stock Sales
02/10/12 – The Internal Revenue Service has changed the way they want your capital gains reported on your 2011 Income Tax Return. There are additional detail forms, and the old Schedule D becomes the summary. Here’s what they say: Eight Facts about New IRS Form 8949 and Schedule D The IRS has a new form …
Jan 10 2012
How to find a good tax preparer
07/30/15 – Many individuals and most businesses have their income tax returns prepared by a CPA or other paid preparer. Did you know that all paid preparers are now required to be registered with the IRS? Here are ten tips to help you choose a qualified preparer: 1. Check the preparer’s qualifications. New regulations require all paid …
Sep 29 2011
Worth a Repost: CFO on Call
GUEST POST – Can your new small business afford a CFO? 06/02/2011 This article was recently published in the Idaho Business Review. Author Scott Lockwood eloquently describes what I can do for your business: According to the U.S. Small Business Administration, small enterprises, employing fewer than 500 people, dominate the U.S. economy and account for …