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.

01/08/20 - IRS issues 2020 standard mileage rates

The optional standard mileage rates for business use of a vehicle will decrease slightly in 2020 after increasing significantly in 2019. For business use of a car, van, pickup truck, or panel truck, the rate for 2020 will be 57.5 cents per mile in 2020, down from 58 cents per mile last year. Taxpayers can use the optional standard mileage rates to calculate the

01/08/20 - 15 Business Tips You Need to Know

Many small business owners are happy to share their business tips with other entrepreneurs. Check out 15 top business tips from small business owners which can help you run and grow your business effectively. (reprinted from Hartford Small Biz Ahead, link below)

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.

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?

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.

10/08/12 - “If it sounds too good to be true, it probably is.”

Wise words we should all keep in mind, especially in today’s fast-paced, high-tech social-networking world. If you take the bait, you are just a few clicks from revealing personal information that may inundate your inbox with spam, or worse even compromise your identity.

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"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

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" 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

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" 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

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