CPA Solutions is now hiring for an Administrative Assistant.
ESTABLISHED CPA FIRM IS LOOKING FOR AN ADMINISTRATIVE ASSISTANT FOR OFFICE LOCATION IN CELEBRATION, FL. THE IDEAL CANDIDATE SHOULD HAVE 3-5 YEARS EXPERIENCE IN OFFICE ADMINISTRATION, BE SELF DRIVEN, RELIABLE, ORGANIZED, ABLE TO WORK INDEPENDENTLY AND WITH THE TEAM, POSSESS STRONG WORK ETHICS, BE ABLE TO WORK UNDER PRESSURE AND HAVE EXCELLENT COMMUNICATION SKILLS.
– ANSWER PHONES
– SCHEDULE CLIENT APPOINTMENTS
– SCAN AND ORGANIZE DOCUMENTS
– FORMAT AND ASSEMBLE FINANCIAL STATEMENTS
– ASSEMBLE AND PROCESS TAX RETURNS
– ASSIST OFFICER MANAGER
– PROVIDE NECESSARY SUPPORT FOR ACCOUNTING STAFF
– MINIMUM HIGH SCHOOL DIPLOMA
– ASSOCIATES OR BACHELORS DEGREE PREFERRED
– MINIMUM 3 YEARS IN OFFICE ADMINISTRATION ROLE
– STRONG COMPUTER SKILLS – WORD, EXCEL, OUTLOOK, POWER POINT, PDF
If you are interested in applying please email your cover letter and resume to Info@MyCPASolutions.com.
Tax Deadlines For Business Owners
1099 Forms due January 31, 2019
W-2 Forms due January 31, 2019
S-Corporation Tax Returns (Form 1120S) due March 15, 2019
Partnership Tax Returns (Form 1065) due March 15, 2019
Corporation Tax Returns (Form 1120) due April 15, 2019
Profit Sharing/Simple IRA and SEP IRA Contributions due March 15, 2019
S-Corporation Tax Returns (Form 1120S) with extension due September 16, 2019
Partnership Tax Returns (Form 1065) with extension due September 16, 2019
Corporation Tax Returns (Form 1120) with extension due October 15, 2019
Profit Sharing/Simple IRA and SEP IRA Contributions with extension due September 16, 2019
Tax Deadlines For Individuals
Individual Income Tax Return due April 15, 2019
Individual Income Tax Return with extension due October 15, 2019
Traditional IRA Contributions due April 15, 2019 – no extension is allowed
Roth IRA Contributions due April 15, 2019 – no extension is allowed
SEP IRA Contributions due April 15, 2019
SEP IRA Contributions with extension due October 15, 2019
Health Savings Account Contributions due April 15, 2019 – no extension is allowed
1st Quarter Estimated Tax payment for 2020 due April 15, 2019
2nd Quarter Estimated Tax payment for 2020 due June 17, 2019
3rd Quarter Estimated Tax payment for 2020 due September 16, 2019
4th Quarter Estimated Tax payment for 2020 due January 15, 2020
Traditional and Roth IRA if you are under age 50 – $5,500 for 2018 and $6,000 for 2019
Traditional and Roth IRA if you are over age 50 – $6,500 for 2018 and $7,000 for 2019
*Note – Income limitations apply
SEP IRA – $55,000 for 2018 and $56,000 for 2019
*Note – limited to 25% of self-employed income
Health Savings Account – $3,450 for self-only coverage plus additional $1,000 if you are over age 55 for 2018 and $3,500 for 2019 plus additional $1,000 if you are over age 55
Health Savings Account – $6,900 for family coverage plus additional $1,000 if you are over age 55 for 2018 and $7,000 for 2019 plus additional $1,000 if you are over age 55
For a complete list of monthly tax due dates, visit our tax center. Our team of experts can stay on top of the due dates for you, so you never miss a filing date. Give us a call to set up your consultation: 407-680-9088.
We usually associate New Year with a new beginning, a fresh start which is often followed by New Year’s resolutions – we set goals to loose weight, get physically fit, visit new destinations, spend more time with family and friends, etc. What about personal financial goals? Should one of your New Year’s resolutions be to get financially fit?
For many, financial planning is a daunting task and a general consensus is that it will restrain one’s life. It is true that becoming financially fit will require discipline and consistency but in the end it will actually translate into a peace of mind, security and freedom. Financial freedom is a very powerful thing as we all know that financial struggles lead to enormous stress, constant worries and disagreements with our loved ones.
I will not tell you that you will become a millionaire in six months or that you will pay no taxes on your income but I will tell you that you can start with these five steps that will get you a lot closer to your financial freedom.
This is Part I of the series for complete financial transformation.
- Get your picture crystal clear
Understand what position you are in today so you can plan wisely for your future – list all your assets and liabilities. In simple terms – assets are what you own and liabilities are what you owe to others. This is the most important exercise so don’t cheat yourself.
A. Assets will include:
i. Bank accounts (checking, savings, money market)
ii. Investment accounts (brokerage accounts such as E-Trade, Scottstrade, Fidelity, Vanguard, etc.)
iii. Real estate you own (fair market value as of the date of this exercise)
iv. Retirement accounts (IRA, Roth IRA, SEP IRA, 401K, 403B, etc.)
v. Stock you own if it wasn’t listed in your brokerage accounts above (restricted stock or stock options from your employer)
vi. Whole life insurance policies – only list cash surrender value, if any
vii. Tangible property such as automobiles, boats, jewelry, equipment, art – be careful with this as many people tend to “over value” their tangible property – what is your dining room table really worth if you had to sell it on E-Bay?
viii. Loans to family and friends
B. Liabilities will include:
i. Credit card debt, including department store cards
ii. Bank loans – lines of credit, vehicle and boat loans, other short term loans
iii. Student loans
iv. Mortgages on your primary home and rental properties, including HELOC loans
v. Loans against your retirement accounts
vi. Loans from family and friends
vii. Other commitments that may include pledges to church or charity
viii. Unpaid tax liabilities – income taxes and property taxes
ix. Unpaid child support or alimony
2. Understand your spending habits
A. Obtain last 6 months of your bank statements and credit cards statements
B. Categorize all expenditures into these categories:
i. Mortgage or rent payments
ii. House maintenance and repairs
iii. Insurance – homeowners, auto, boat, general liability, disability, health and life
vii. Child care – tuition, after school program, summer camps, sports, dance, etc.
viii. Loan payments other than mortgage – vehicle and boat loans, short-term loans and other
ix. Credit card payments
x. Entertainment and restaurants
xii. Savings such as payments to your kid’s college funds, transfers to your brokerage accounts
3. Embrace a debt-free road
What I mean by debt-free does not necessarily mean no mortgages or loans whatsoever (of course its great if that is the case as well!) but more so getting rid off high interest credit cards and loans
A. Create a list of all your debt (mortgages, car loans, boat loans, student loans, credit cards, department store cards, private loans) in descending order listing highest interest rate borrowings first
B. Add columns/fields to each loan with the following information:
i. Balance owed
ii. Annual interest rate
iii. Minimum monthly payment
iv. Minimum monthly payment + 10% of the total balance owed
v. Minimum monthly payment + 20% of the total balance owed
C. Create a separate list with balances under $500
D. Read the steps in the next section for payment options
4. Create your personal budget
The success element of any budget is not creating one but sticking to it. If you are going to do this you will need to make a commitment to follow it.
A. Add your recurring monthly income to have the total available monthly cash
B. From the item #2 list pick out top 5 priority bills
C. Keep a running total of the cash balance remaining – total income less the monthly bills
D. From the item #3 list pick out top 3 most costly borrowings
i. Add Minimum monthly payment + 10% of the total balance owed
ii. If you are able to do it add 20% principal payment to the total balance owed
E. From the item #2 list pick out top 5 second priority items
F. Fet rid of 5 bottom monthly bills – I guarantee you can live without them
5. Identify your financial goals
Think about your short, medium and long-term goals. How much do they cost? Are you on track to meet them?
A. Some long-term goals, such as traveling in retirement, may not change substantially year to year. Short-term goals, such as paying off a credit card bill, and medium-term goals, including saving for a house, may change more frequently. You might decide to reevaluate those every three to six months
B. Aim to save at least 10% of your earnings to meet short-term and long-term goals
I know this is a lot of detail information that is boring to a person with no financial background but I also know that when someone reads an article about budgets there is no step-by-step direction on how to create one. I am an accountant by trade but I am also a person who once was divorced and broke at 26 years of age.
I can’t change your life but I can give you powerful tools to use towards your journey to financial freedom. Give us a call today to start your way to financial freedom in 2019: 407.650.9088.
As the Holidays approaching rapidly, so is the end of 2018 tax year. Due to major tax reform enacted in 2018 there are a lot of unknown facts and circumstances that will be facing taxpayers this upcoming tax filing season. So what can you do in the next couple of weeks to minimize your tax liability?
Here are 5 tax savings tools that will give you the best bang for your buck:
1. Check your last paystub to make sure you are maxing out your 401K deferral – qualified retirement accounts savings is still one of the most tax advantageous tools for earned income taxpayers:
a. The limit for 2018 is $18,500 if you are 49 years old or younger and $24,500 if you are 50 years old or older;
b. If you are working for a company you can elect for a one-time larger 401K deduction up to the amount of your net paycheck
c. If you are self employed consider paying yourself a bonus that will allow you to contribute maximum amount to your 401K plan.
2. If you are considering “lending” money to your children think about selling stock that you owned for one year or more:
a. Taxpayers with joint income of $77,200 or less will pay zero capital gains tax;
b. Taxpayers with joint income between $77,200 and $479,000 will pay 15% capital gains tax.
3. Utilize your carryover capital losses – you are only allowed to deduct net loss of $3,000 on a joint tax return:
a. If you have capital losses from prior years and considering selling some of your holdings, complete the transaction before the year is over to utilize those losses and pay no tax on the gains;
4. New tax law allows for a $24,000 standard deduction for joint filer but some of you are still going to itemize if your deductions exceed that amount. If you are amongst those taxpayers that itemize consider maximizing your charitable contributions:
a. Donate appreciated stock – not only you won’t pay capital gains tax but also receive deduction for a full fair market value of the stock;
b. If you are over the age of 70 and a half and are required to take minimum distributions (“RMD”s) from your IRA but don’t need the money you can do a direct charitable contribution from your IRA. By doing that you will satisfy RMD requirement and get a deduction at the same time.
5. If 2018 was a low income year for you consider conversion of your traditional IRA to a Roth IRA
a. Taxpayers that are in a low tax bracket will pay minimal taxes on the conversion and the money in your Roth IRA will be tax free when you take it out at the age of 59 and a half.
Even with only two weeks left until the end of the year don’t shy away from contacting your tax advisor who can provide you with
For more information on how we can get your taxes in good shape for filing, give us a call: 407-650-9088.