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MyCFO Link Blog

Thanks for stopping by our blog. If you visit often, you'll learn about our Issaquah cost accounting, business services, and other tax help solutions. We hope you find the content valuable and relevant.  Should you have a question you would like to see answered, please drop us an email and let us know what you would like to see answered!


 

Tax Scams: Are You Being Targeted?

by Brett Backues on April 2, 2015
Tax time stands as one of the most dangerous times for individuals and small businesses. Malicious individuals want to prey upon these groups in an attempt to scam them from their hard-earned cash or their deserved tax refunds. Some even want to steal the sensitive information related to tax returns, such as employee identification numbers and...
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Hiring A Bookkeeper? Read This Before You Do

by Brett Backues on February 27, 2015
One of the first and most important service providers any small business owner will hire is a bookkeeper. When a small business owner hires his or her employees to run the business, it is usually...
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5 Secrets How To Deal with IRS Notices

by Brett Backues on February 3, 2015
There are numerous reasons why the Internal Revenue Service may send a notice to you by mail. IRS notices always address a very specific issue concerning your tax return or your account. You may...
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Estimated Tax Payments...Next One Is Due September 15

by Brett Backues on August 26, 2014
If you asked your CPA to prepare your 2013 income tax return, he may have also prepared 2014 estimated tax payments for you. Have you wondered why? Have you wondered how these amounts were...
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The Pros And Cons Of Short Sale

by Brett Backues on June 28, 2012
If like many homeowners you bought at the peak of the market and put nothing or next to nothing down, you may now owe more on your house than it’s worth. Underwater on your mortgage, you may...
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What To Do If You’re “Underwater” On Your Home Loan

by Brett Backues on June 27, 2012
According to Time magazine, nearly one in five Americans owe more on their homes than the house is worth. Many Americans who need to refinance their homes are unable to do so because of the...
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Understanding the Consequences of S Corporations

by Brett Backues on February 3, 2012
Business owners have the choice between several incarnations when deciding on the type of business they plan to operate. The choices often come down to decisions between basic liability and...
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How To Determine What Business Structure Is Best

by Brett Backues on January 20, 2012
The most common question I hear from small business owners and entrepreneurs seems to be: What type of business structure makes sense for my new enterprise? As a CPA and trusted advisor to many...
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What's Stopping You From Becoming Your Own Boss?

by Brett Backues on January 10, 2012
It sounds wonderful, at first. You’ll be the boss. You make the rules. You get to work when you want to. Your small business can be part of the economic recovery that will save the nation. The...
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Charitable Giving this Holiday Season

by Brett Backues on December 21, 2011
Charitable Giving this Holiday Season Wed, 12/21/2011 - 12:00am As we all know, the holiday season is considered the season of giving. We can satisfy our generous spirit and improve our tax...
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Tax Planning: Energy Incentives

by Brett Backues on December 18, 2011
Residential Energy Efficient Property Credit: Until 2016, tax incentives are available to taxpayers who install certain energy-efficient property, such as photovoltaic panels, solar water heating...
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Tax Planning - Education and Child Tax Benefits

by Brett Backues on December 17, 2011
Child Tax Credit: A tax credit of $1,000 per qualifying child under the age of 17 is available on this year's return. In order to qualify for 2011, the taxpayer must be allowed a dependency...
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Year end deduction planning

by Brett Backues on December 14, 2011
Individual Deductions Timing is an important element of year-end tax planning. Deduction planning is complex, however, due to factors such as Adjusted Gross Income (AGI) levels and filing status....
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To Defer or not to Defer: That is the taxable question

by Brett Backues on December 11, 2011
Making money is a good thing. And successful business owners are not usually in the habit of asking their clients to postpone paying an outstanding invoice. But when it comes to tax planning,...
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Retirement Savings: Catching up is not hard to do

by Brett Backues on December 6, 2011
Lawmakers in Washington D.C. apparently do not believe that can take care of ourselves without them forcing us to put away a few dollars from each paycheck for retirement. So, they have given us a...
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