Fernandez & Fernandez CPAs, LLC

Fernandez & Fernandez CPAs, LLC Providing accounting, tax and financial planning services.

Operating as usual

Food Bank looks to help residents at 7 mega mobile distribution sites over the weekend
Food Bank looks to help residents at 7 mega mobile distribution sites over the weekend

Food Bank looks to help residents at 7 mega mobile distribution sites over the weekend

SAN ANTONIO - With the winter storm affecting several of our neighbors across the state including San Antonio, the Food Bank is hosting a 3-day food distribution over the weekend to help residents in need. The intense cold weather has resulted in several of our neighbors, who have gone days without....


We will try and open up later today.


Due to weather conditions, our office will be closed Tuesday February 16. If you need to contact us please send us an email.

Fernandez & Fernandez CPAs, LLC

Fernandez & Fernandez CPAs, LLC


Please be aware our office hours will be changing effective this week.

Monday-Thursday 8am to 5pm.

The link below will take you to the Treasury Dept website where the application Paycheck Protection Program is available...
Assistance for Small Businesses | U.S. Department of the Treasury

The link below will take you to the Treasury Dept website where the application Paycheck Protection Program is available for small businesses. Please call or email us with any questions you have.


About Treasury General Information Role of the Treasury The Secretary Officials Organizational Chart Orders and Directives Offices Domestic Finance Economic Policy General Counsel International Affairs Management Tax Policy Terrorism and Financial Intelligence Inspectors General Bureaus Alcohol and....


We are here, we are open.

Breaking News! We were hoping for news like this for all Americans. Its official now and we are here and we are open and...
IRS will move tax filing deadline to July 15 as coronavirus spreads, Mnuchin says

Breaking News! We were hoping for news like this for all Americans. Its official now and we are here and we are open and we do have a drive thru.

The extension ordered by President Donald Trump gives taxpayers more time to file returns and make payments without penalties or interest, as coronavirus economic fallout continues.

TGPR-Texas Great Pyrenees Rescue

Here is the organization to contact if you would like more info on the adorable puppies posted earlier this week. They need foster parents and/or money donations.

Texas Great Pyrenees Rescue is a 501.c.3 not-for-profit organization dedicated to the protection and rescue of Great Pyrenees. We are a network of foster homes. and are 100% volunteer based. Intake is done via email and not this page


Did you miss out on taking a tax deduction for tuition and fees in 2018 due to tax law changes back then? You can have your return amended to correct that. It may be worth some savings to you or it may not make much difference. Either way, we can help answer any questions you have.


No, sorry. Political contributions/donations from you are not tax deductible on your tax return.


If you are expecting to receive a 1099MISC form for work you did in 2019 (as non-employee), the deadline to get these mailed out to you is January 31st. While we are at it, all W-2 forms should also be mailed out by the same date.

Who's ready for Tax Season?

Attention seniors!
LIP Tentative Timeline

Attention seniors!

January 25, 2020 Time: 2 pm-3 pmTopic: Time Management SkillsLocation: Cafe CollegeDescription: A discussion on time management on how to...


If you use your vehicle for any of the reasons below, remember to keep track of that mileage. There are plenty of mobile apps on the market to help you keep track. Got any questions, call us!

IR-2019-215, December 31, 2019
WASHINGTON — The Internal Revenue Service today issued the 2020 optional standard mileage rates (PDF) used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.

Beginning on January 1, 2020, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:

57.5 cents per mile driven for business use, down one half of a cent from the rate for 2019,
17 cents per mile driven for medical or moving purposes, down three cents from the rate for 2019, and
14 cents per mile driven in service of charitable organizations.


Your monthly Retirement In Sight newsletter for January, 2020

Javier Fernandez, CPA, IAR, MBA
[email protected]



“Generosity is giving more than you can, and pride is taking less than you need.”

A new federal law, the Setting Up Every Community for Retirement Enhancement (SECURE) Act, directly affects retirees and retirement savers. It changes the rules regarding “stretching” an Individual Retirement Account (IRA) as well as longstanding retirement account rules keyed to age 70½.
Under the SECURE ACT, in most circumstances, once you reach age 72, you must begin taking required minimum distributions (RMDs) from traditional Individual Retirement Accounts (IRAs) and most other employer-sponsored retirement plans. (This new RMD rule applies only to those who will turn 70½ in 2020 or later.) The SECURE ACT also lets seniors contribute to traditional retirement accounts after age 70½, as long as they have earned income; previously, this was forbidden. Both these changes have big implications for savers; large account balances can potentially grow and compound a little more before being drawn down, and amounts contributed after age 70½ could have a chance to compound as well. Turning to the workplace, the SECURE ACT allows employer-sponsored retirement plans the option to include insurance products, offering the potential for lifelong income. It also opens a door for small businesses to join multi-employer group retirement plans (MEPs).
The new law does curtail the Stretch IRA estate strategy. Anyone who inherits an IRA of any kind in 2020 or later must withdraw the whole IRA balance within 10 years of the IRA owner’s death and pay linked taxes, unless that heir is a minor child or a surviving spouse. (Existing inherited IRAs are exempt from the new rules.) The SECURE Act is certainly worth a conversation. 1,2
Withdrawals from Traditional IRAs are taxed as ordinary income and, if taken before age 59½, may be subject to a 10% federal income tax penalty.
Under the SECURE Act, your required minimum distribution (RMD) must be distributed by the end of the 10th calendar year following the year of the Individual Retirement Account (IRA) owner's death. Penalties may occur for missed RMDs. Any RMDs due for the original owner must be taken by their deadlines to avoid penalties. A surviving spouse of the IRA owner, disabled or chronically ill individuals, individuals who are not more than 10 years younger than the IRA owner, and child of the IRA owner who has not reached the age of majority may have other minimum distribution requirements .

You may need more club in the cold
If you’re playing a round in temperatures below 60˚ F, keep in mind that the ball will not travel as far. Research from Trackman, the maker of indoor golf simulators, concludes that you lose a yard of carry for each 10˚ F change in temperature. So, an iron shot that would travel 170 yards on an 85˚ F day will travel four yards less on a 45˚ F day.
Source: Golf Digest 3

Sometimes, a cold snap keeps us indoors and leads us to dream of spring and summer travels. Alternately, winter wonders may inspire us to drive. How do you arrange a road trip (a long weekend or a week) that recharges you instead of rushing you?
First, resist the temptation to do too much (and drive too much). If a 3-day weekend is what you have in mind, think about driving a maximum of 4-5 hours per day (more than that, and you risk spending more time at the wheel than you do enjoying the outdoors). Study maps, especially online maps, as they may reveal some places to explore or see that you did not yet know about. Think about spending both your nights in the same lodging and planning an activity on the morning of the third day instead of just getting up early to drive back home. Do you have a week or a bit longer? Think about a place you’ve always wanted to visit and try to structure the road trip so that you can get there in fewer than two days and return in fewer than two days. You can make the journey one to rival the destination by planning the route in such a way that you can sample some of the natural and cultural “gems” between here and there. 4

Teddy bears honor a President
During a wilderness trip, President Teddy Roosevelt refused to shoot a black bear that some hunters had captured. After hearing about this, a toy manufacturer of that era decided to create a stuffed animal that kids could hug and play with, named after Roosevelt. 5

The past decade was a good one for one key stock market benchmark. Including dividends, the S&P 500 returned approximately 257% between the start of 2010 and the end of 2019. 6
The S&P 500 Composite index is an unmanaged index that is generally considered representative of the U.S. stock market. Index performance is not indicative of the past performance of a particular investment. Past performance does not guarantee future results. Individuals cannot invest directly in an index. Keep in mind that the return and principal value of stock prices will fluctuate as market conditions change. And shares, when sold, may be worth more or less than their original cost.

What’s the difference between here and there?

Javier Fernandez, CPA, IAR, MBA may be reached at 210.492.1627 or [email protected]

This material was prepared by MarketingPro, Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. This information has been derived from sources believed to be accurate. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional. This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty.

1 - inquirer.com/news/secure-act-retirement-2020-annuities-rmd-529-plan-taxes-20191223.html [12/23/19]
2 - investmentnews.com/the-stretch-ira-is-dead-175775 [12/27/19]
3 - golfdigest.com/story/your-cold-weather-golf-survival-guide [11/21/18]
4 - outsideonline.com/2358816/how-plan-road-trip [10/30/18]
5 - parade.com/966564/parade/fun-facts/ [12/16/19]
6 - abcnews.go.com/Business/stocks-post-biggest-year-gain-2013/story?id=68008745 [12/31/19]

At Fernandez & Fernandez CPAs we are happy to help our veterans with tax preparation this tax season. We will take care ...
IRS Free File offers free tax prep options for military personnel | Internal Revenue Service

At Fernandez & Fernandez CPAs we are happy to help our veterans with tax preparation this tax season. We will take care of you as best we know how but just in case you want to look at options, here is an announcement today from IRS for veterans.

Please read all the requirements for IRS Free File.

IR-2020-07, January 13, 2020 – The Internal Revenue Service today reminded active duty military personnel that IRS Free File offers them multiple options for free federal tax preparation.


Hello friends and clients.

Now that the holidays are over, it's time to start thinking about taxes again (I know, I know). This is a note to let you know that I am no longer in the Bulverde office and have moved back to our main office by the airport. It's about a 14 mile drive straight down US 281.

I hope that I can continue to serve you and help you with your tax and investment needs. Please feel free to reach out to me if you have any questions or concerns.

My office address and number are below.

Thanks and talk to you soon.
Javier Fernandez, CPA/MBA

Fernandez & Fernandez, CPAs
223 W. Rhapsody
San Antonio, TX 78216
Office 210 492 1627 Ext 2

Did you know IRS has media tools! Check it out and feel free to call us if you have questions.
IRS New Media 1 | Internal Revenue Service

Did you know IRS has media tools! Check it out and feel free to call us if you have questions.

The IRS uses social media tools to share the latest information on tax changes, initiatives, products and services.


Recent tax extenders legislation has been introduced with President Trump’s signing of the Consolidated Appropriations Act, 2020 on December 20, 2019. The year-end appropriations package retroactively extends to over 30 expired and soon-to-be expired tax breaks. The more well-known of the extenders are those that affect individuals. These include the reduction in the adjusted gross income (AGI) floor for medical and dental expense deductions from 10% to 7.5%, the above-the-line deduction for tuition and fees, the treatment of mortgage insurance premiums (PMI) as deductible qualified residence interest, and the exclusion of qualified principal residence indebtedness from gross income.

Not sure what this means? Call us, we will help explain.

Heroes del Mar - Give a Child an Experience to Last the Oceans Lifetime

Dora, the founder of this organization, is a good friend and client of ours. When she first told us about this organization she wanted to start she was so excited!! Now I see the vision she had come to life and its beyond what we imagined! Beyond what we were expected and envisioned ourselves. We are very happy and excited for her, her team, all those kids that are going to experience this educational and fun adventure. If you would like to donate, at the end of the video you can find out how. Thanks for watching.

Heroes del Mar is a 3-year program that provides children ages 13-17 the chance to work side-by-side with scientists, eco-tourism experts, economists, and en...

6 Reasons Small Business Owners Should Hire a Tax Pro
6 Reasons Small Business Owners Should Hire a Tax Pro

6 Reasons Small Business Owners Should Hire a Tax Pro

For individuals with more complex incomes, such as revenue from businesses, income from interest and dividends, capital gains on a home sale or foreign assets, seeking the expertise of a professional can save time, money and potential legal...


We are temporarily closed due to weather. Please call or email us and we will get back to you as soon as possible.


It is 12 noon.....my countdown begins now!


“Javier is fantastic! Every year I come to him last minute unorganized and in desperate need of help with taxes, and every year he comes through! Thanks to F&F CPA” - client


March 15th deadline is quickly approaching for corporate returns but we are also working hard on personal returns due April 15th. Give us a call and we can help and guide you.


223 W Rhapsody Dr
San Antonio, TX

Opening Hours

Monday 09:00 - 17:00
Tuesday 09:00 - 17:00
Wednesday 09:00 - 17:00
Thursday 09:00 - 17:00
Friday 09:00 - 17:00


(210) 492-1627



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