What Happens if a Life Insurance Policy Lapses? November 6, 2017 The dollar amount of death benefit payouts that seniors 65 and older forfeit annually through lapsed or surrendered life insurance policies is more than the net worth of either Mark Zuckerberg (Facebook) or Jeff Bezos (Amazon) – $112 billion! That’s $112 billion worth of…

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Who Do We Serve? October 23, 2017 When people see our package of services they sometimes comment that they don’t need the “royal treatment” or will call us when they are a “big wig.” I understand what we offer seems like a lot when comparing our services to other accountants who just do tax returns.…

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Top 5 Local Coffee Shops September 15, 2017 I love coffee as much as I love tax planning and the counting of beans. I spend a great deal of my time out and about networking with referral partners, meeting new people and catching up with clients. Most of the time we are conversing over a…

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Worker Misclassification & Employer Risk August 10, 2017 I would like to introduce Matthew T. McClintock, JD brilliant lawyer and, I am told, a pretty great poker player. Matt specializes in the legal aspects of estate planning and is my go to business law source. Matt takes the same collaborative approach we do to client…

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Five People Every Business Owner Needs August 3, 2017 If I could give every business owner a handy little checklist for people they need in their life this is what it would look like! One:Someone who knows the ins and outs of business law and will be in your corner. It is extremely beneficial to…

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Let’s Trade! July 6, 2017 Often, I find barter transactions in a client’s books by accident. This prompts a conversation about what the tax implications of the services being provided and received looks like. I imagine the initial barter conversation goes like this: Small Business Owner #1 (SBO#1): “Hey, I would love your [insert service]…

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Traditional Tax Preparers vs. Collaborative Tax Advisors May 31, 2017 As with any field there is a range of expertise and business models when it comes to tax professionals. I want to talk about the difference between the traditional model tax preparers versus the more collaborative (value-added) tax advisors. I have experience working in both…

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Once a week I field a telephone call from a small business client, acquaintance or a high school friend about electing S Corporation status on their single member LLC (Schedule C). Someone, usually their Uncle Joe, Sister Jane or some other business owner, told the caller that they will save so much money in taxes with an S election.

“Is that TRUE?!” they always ask me. In true CPA fashion my answer is…

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