The Cloud

We hear the term bandied about with impunity in everyday conversations. Our smartphones remind us that we ought to set up our cloud storage sync so our family photos don’t obliterate what little space we have in our device’s memory. Sales representatives tout the fiscally friendly advantages of accessing apps hosted in the cloud: “Don’t buy that software license, save money and use it through our software as a service!” Amidst all the banter and casual handling of what has become a high frequency conversation piece, we may find ourselves thinking, “is it really so great, all this cloud surfing?” or even “what IS the cloud?” Herein I will dissolve the riddle of “what’s remote and accessible and used all over!?” and describe how, when it comes to accounting, it seems that the cloud does, indeed, have a silver lining.
 

A new method of providing pre-tax investment opportunities to key employees

Many business owners and companies utilize 401(k) plans or similar type plans for their employees. And they should. 401(k) plans have the most attractive features of any investment available in the marketplace, (i) pre-tax deferrals on compensation, and (ii) tax deferred compounding on those dollars. 

One of the reasons I love being at Milam, Knecht & Warner, is the great clients we have. One amazing client that I have had the pleasure to get to know is Dr. Jerold and Dorothy Beeve. Dr. Beeve is an ophthalmologist and has grown a very successful practice in La Canada with the support of his wife and nurse, Mrs. Beeve.They are an amazing couple with hearts as good as gold. And in addition to running their business, since 1991, they have been bringing a new world of clear eyesight to the underserved people of Fiji. 

It is that time again to gather your documents and get organized to file taxes. Here are five tips to help you properly itemize your deductions and minimize your taxes.
 

We are happy to announce that clients can now sign their engagement letters with an electronic signature! We are rolling this feature out starting with 2013 entity tax engagement letters. Everything can simply be done on the screen; no need to print, sign, scan, and e-mail back your letters.

After your morning cup of coffee and your stop at the PO Box, you drop off your kids at school and give her the last of your cash (5 bucks), and you arrive at your office. Whew, it's 9:30am already!

It’s time to check on the office staff and the warehouse before you actually make it to your office and login to check vitals. Here is where the magic happens, right??? At least that is what you were told in MBA School.

As I have worked in public accounting over the past few years, I have found that my clients often have similar questions for me. Today I want to address one of those often repeated questions. How much tax will I have to pay when I sell my home?

One question that I often get asked is how much can I deduct for my home office. My aim with this article is to help you understand the rules and how they may apply in your situation. Here we go!

If you use part of your home for business, you may be able to take advantage of the home office deduction. 

January was a busy month for us. Not only were we doing our regular pre-tax season prep (tax trainings, systems updating & testing, client work scheduling, etc.), but we grew our MKW team by three. 
All of us at MKW extend the biggest welcome to our new Tax Manager Hazel Ho and our two new Staff Accountants Cheuk Wong and Tabish Khan.

Here is a little information about our new staff. 

I hope that you and your business are starting off 2014 with a strong start. Now that we are a month in and inching close to the April 15th tax deadline, here is a quick rundown of several tax developments that have taken place in the last few months.