Info Center Blog

We hope you find our accounting & tax blog to be informative! Let us know if there are topics you would like to see addressed here.

02/14/18 - 2018 Tax Cuts for Individuals

We are cautious in saying this, but we do believe congress has finally done something that helps the middle class! The recent tax reforms will have the largest impact on business owners and corporations. However, having now prepared a number of 2018 tax projections for our individual clients, we are finding that everyone is going to benefit.

Here are four major tax law changes that will make the most impact on the middle class, beginning in 2018:

02/10/18 - 2018 Tax Cuts for Business

By Lou Alice Funk, CPA, MBA

Much has been said in the media about the new Tax Cuts & Jobs Act, and it is indeed full of changes that will affect all of our clients in differing degrees. The substantive effects of those changes begin in 2018, so the tax returns we are working on this season will not be greatly affected. However, we feel that all of our business clients would benefit from a review of the new provisions.

02/28/17 - A new way to measure your retirement readiness

Do you know your "power percentage"? A lot of people measure their financial health by their credit score. But how much does a good credit score matter to a person who is about to retire? You can't borrow your way through a 25-year retirement. Check out this article that describes a quick way to measure your personal financial health as it relates to retirement readiness.

05/31/16 - New Overtime Rules Effective December 1, 2016

Final DOL Overtime Rule Released

07/31/15 - Don’t Overlook the Child and Dependent Care Tax Credit this Summer

Day camps are common during the summer months. Many parents pay for them for their children while they work or look for work. If this applies to you, your costs may qualify for a federal tax credit that can lower your taxes. Here are the top ten tips to know about the Child and Dependent Care Credit:

01/11/14 - Non-Cash Charitable Gift Documentation

Many of us clean out our closets and cabinets throughout the year donating our no-longer-used clothing and household items to our favorite charitable organization or church. Now it’s time to begin our search for the receipts or acknowledgement letters so we can include them with our tax-related documents.

The Internal Revenue Service requires documentation for certain contributions. For any contribution of $250 or more, the taxpayer must have a contemporaneous written acknowledgement of the contribution by the donee organization.

What does this mean?

01/02/14 - Due Dates Change for Local Business Tax Forms

A change by the government....that ACTUALLY makes sense? The change relates to Tennessee City & County Business Tax filings and we think it will be much easier to remember when they are due.

You know those pesky tax forms with the weird due dates based on the TYPE of business you have. The state has changed the due dates for all taxpayers to coinside with the filing dates for other federal and state income tax returns!

05/21/13 - Internet Sales Tax Approved by Senate

The U.S. Senate has just passed the “Marketplace Fairness Act of 2013” which would allow a state to require all online sellers to collect sales and use tax on any sales made to customers within the state. The fate of this new Act now rests in the hands of the House of Representatives.

12/31/12 - 12 Sales Tax Tips for Small Business

Sales Tax Compliance seems to be getting even more complicated. Avalara recently released 12 sales tax tips to help small businesses achieve greater success and security. Below is a summary of the article and the full document can be found at www.avalara.com.

1. Determine if you have created nexus within a state.

2. Check if you are required to file your sales tax return electronically.

3. Find out if you are required to make pre-payments.

12/06/12 - Contribute to Qualified Charities

Important Dates

07/31/19 (All day) - Quarterly 941 Payroll Reports for 2nd Quarter 2019 Due
08/15/19 (All day) - Monthly (Prior month) 941 Deposit Due
08/20/19 (All day) - (Prior month) TN Sales Tax Due

Client Testimonials

"Companion CPA Group has been an integral part of the management of our Pulmonary, Critical Care and Sleep Medicine Practice for seven years, and have assisted us in a..."Read More

" Companion CPA Group has provided our medical practice with excellent, high quality financial services. They are very responsive to both our immediate and long term needs..."Read More

"Companion CPA Group gives us the tools we need to successfully manage our practice. In addition to handling routine accounting functions, their willingness to research,..."Read More

" Lou Alice Funk and her associates are a delight to work with! They do what they say they’ll do, on time, and at a reasonable price. They save me hours of work. I..."Read More

" Our relationship with Companion CPA began in 2002. We were a new business and called on several local CPA firms before deciding on Companion CPA. We rely heavily on Lisa..."Read More

" When we outsourced all of our financial management, payroll, accounts payable, grant reporting and budget development, it seemed like an impossible puzzle to complete; but..."Read More

" Companion CPA has provided the Tennessee FFA Foundation, Inc., a Tennessee non-profit, with professional and timely work. As a volunteer worker and treasurer of the..."Read More

"Lisa, I am truly so grateful to you for taking the anxiety out of tax time for me! I very much appreciate your time and attention to detail!"Read More

" After outsourcing our payroll and payroll reporting to Companion CPA Group, my life is so much less stressful! I had been spending countless hours working late..."Read More

" Companion CPA has been critical component in our success as new business owners in a highly competitive market. Lou Alice provided us with most valuable research and..."Read More

" Working with my business can be a challenge! My business involves managing multiple projects located in different states, and occasionally different countries..."Read More

" Lou Alice has helped us walk through the business setup, payroll, taxes, and--most importantly in the medical profession-- insurance credentialing process...."Read More

"This is by far the most honest and down-to-earth CPA group you will ever find. The personal and professional service provided by Companion CPA Group instills a high..."Read More