Mark Wood CPA

Mark Wood CPA Servicing the tax planning, tax preparation, and accounting needs of individuals and small businesses in the San Antonio area. Mark Wood CPA is a full-service accounting firm in San Antonio, Texas.

We focus on helping individuals and small businesses with their tax and accounting issues to help them keep more money in their pockets and out of Uncle Sam's. Since 1995, Mark has been serving his clients with personalized service, deep insight, and proactive thinking.

Operating as usual

Seeing your biggest income streams can help you in building good relationships with quality clients. It can also help yo...
07/16/2020

Seeing your biggest income streams can help you in building good relationships with quality clients. It can also help you recognize if you are relying too much on one income source. If too much revenue comes from one source, that is called “revenue concentration risk.”

If you have money today that you didn’t have yesterday, it’s usually taxable, but “usually” is the operative word here. ...
07/15/2020
12 Top Sources of Nontaxable Income

If you have money today that you didn’t have yesterday, it’s usually taxable, but “usually” is the operative word here. Some money does escape the tax net. https://bit.ly/2MGqIvV

Learn which types of income are not taxable, including disability payments, financial gifts, inheritances, some home sale profits, and more.

To young adults, getting their first credit card brings excitement. Though credit cards sound like a lot of fun, they al...
07/14/2020
Beginner's Guide to Using a Credit Card

To young adults, getting their first credit card brings excitement. Though credit cards sound like a lot of fun, they also come with big responsibility. Read this article to know what to expect with your first credit card: https://bit.ly/30kxuzZ

Getting your first credit card may be the best thing since getting your driver's license. Get advice on what to expect with your first credit card.

If you have debt, prioritize paying it off as quickly as possible. Take a look at any debt you have and focus on paying ...
07/13/2020

If you have debt, prioritize paying it off as quickly as possible. Take a look at any debt you have and focus on paying off the highest interest debts and working your way down from there to minimize interest payments.

Doing the work and sending the invoice is just part of the battle. You also have to make sure those payments get collect...
07/09/2020

Doing the work and sending the invoice is just part of the battle. You also have to make sure those payments get collected. Look out for customers who are perpetually late, usually pay on time and recently started paying late, or growing late balances from any customer.

Look at your fixed expenses vs your income. You can plan ahead to make sure you are covering your bills and make best us...
07/06/2020

Look at your fixed expenses vs your income. You can plan ahead to make sure you are covering your bills and make best use of any extra cash not spent on fixed expenses.

A balance sheet is a financial statement that reports a company's assets, liabilities and shareholders' equity. It displ...
07/02/2020

A balance sheet is a financial statement that reports a company's assets, liabilities and shareholders' equity. It displays a snapshot representing the company’s financial position.

What should entrepreneurs, especially newer ones, know as their business grows? Here are some tips from 13 members of th...
06/30/2020
11 Game-Changing Tips for Small-Business Owners

What should entrepreneurs, especially newer ones, know as their business grows? Here are some tips from 13 members of the Young Entrepreneur Council. Which of these could work for you? https://bit.ly/2UmEMiJ

Being a small-business owner poses a ton of challenges. We asked members of the Young Entrepreneur Council what helpful advice they could pass off to new entrepreneurs.

Once you know where you stand you'll want to figure out your path forward! If you establish goals you can take steps in ...
06/29/2020

Once you know where you stand you'll want to figure out your path forward! If you establish goals you can take steps in the right direction. This could be to get out of debt, spend less, save more or invest.

An emergency fund is a separate account or reserve of money that allows you to cover most small to medium-sized financia...
06/26/2020
5 Tips to Help You Create an Emergency Fund | www.financialhotspot.com

An emergency fund is a separate account or reserve of money that allows you to cover most small to medium-sized financial crises without dipping into your retirement plan or creating new debt. https://bit.ly/2Y9hHBe

Having an emergency fund can bring you a lot of peace, but getting started can be a challenge. Here are some helpful tips to start creating an emergency fund today.

The most important report for any business is the profit and loss statement, also called a P&L or income statement. Smal...
06/25/2020

The most important report for any business is the profit and loss statement, also called a P&L or income statement. Small business owners should look at this report at least monthly. You can see what’s working well and what isn't by looking at the trends over time.

The IRS conducts tax audits to minimize the “tax gap,” or the difference between what the IRS is owed and what they actu...
06/23/2020
7 Reasons the IRS Will Audit You - NerdWallet

The IRS conducts tax audits to minimize the “tax gap,” or the difference between what the IRS is owed and what they actually receive. Sometimes audits are random, but the IRS often selects taxpayers based on suspicious activity - here are 7 common reasons for an audit: https://bit.ly/2txneWX

What makes your return a target for an IRS audit? Math mistakes, missing income and questionable deductions are some big ones. See the rest here.

Calculate your net worth (assets minus liabilities). You can use a spreadsheet or an app to get an overview of your curr...
06/22/2020

Calculate your net worth (assets minus liabilities). You can use a spreadsheet or an app to get an overview of your current finances and get a clearer view of what you are doing well and areas that you could improve.

Pack a lunch! The average person could save $100 by bringing lunch to work.
06/18/2020

Pack a lunch! The average person could save $100 by bringing lunch to work.

Staying current on your bills is a huge boost to your score - see if you can set up autopay for the majority of your mon...
06/16/2020

Staying current on your bills is a huge boost to your score - see if you can set up autopay for the majority of your monthly bills so you don't have to worry about missing a payment.

Accounting in your small business doesn't just involve keeping the books for tax purposes, but it is an important device...
06/15/2020
A Look at Some Common Accounting Mistakes Small Businesses Make

Accounting in your small business doesn't just involve keeping the books for tax purposes, but it is an important device for saving money and identifying waste, fraud, and theft. Here are some common accounting mistakes that can hurt small businesses: https://bit.ly/36etulp

Learn about common accounting mistakes that can inhibit business success and growth as well as jeopardize legal tax filings and regulatory problems.

Debt consolidation is pretty simple in theory. You take out one large loan to pay off several smaller debts in full - bu...
06/12/2020
6 Questions to Ask Yourself When Considering a Debt Consolidation Loan | www.financialhotspot.com

Debt consolidation is pretty simple in theory. You take out one large loan to pay off several smaller debts in full - but it's not always the best option. Here are some of the things you should consider when evaluating whether a debt consolidation loan is right for you. https://bit.ly/2zKjUuC

Taking out a debt consolidation loan makes sense, but only under certain conditions. Find out if this is a good option for you.

When your business grows, your needs change. See why you may want to take advantage of a different strategy to enhance y...
06/10/2020
5 Reasons to Reconsider Your Accounting Strategy

When your business grows, your needs change. See why you may want to take advantage of a different strategy to enhance your business - and remember - if you have questions, we're here to help! https://bit.ly/2WIiPMY

Here are areas of concern when assessing whether or not your company has outgrown its current accounting management strategy.

Credit cards can be both a financial liability or an asset - it all depends on how you use them. Here are some things to...
06/09/2020
Credit Card Payments: A Few Tips to Consider

Credit cards can be both a financial liability or an asset - it all depends on how you use them. Here are some things to keep in mind during difficult times: https://bit.ly/3cpBFwW

A loss of income can make it difficult to afford your credit card bills. Give yourself some flexibility with these short-term strategies.

Don't rely on willpower to cut unnecessary spending - remove temptation. Unsubscribing from retail newsletters can help ...
06/08/2020

Don't rely on willpower to cut unnecessary spending - remove temptation. Unsubscribing from retail newsletters can help curb impulse purchases.

The U.S. Chamber of Commerce has created a useful guide to the new Employee Retention Tax Credit to walk employers throu...
06/04/2020
Guide to Coronavirus Employee Retention Tax Credits

The U.S. Chamber of Commerce has created a useful guide to the new Employee Retention Tax Credit to walk employers through how the ERTC works. You can find answers to important questions and get a better understanding of tax credits and which companies can receive them. https://bit.ly/2yUCUq0

The Coronavirus Aid, Relief, and Economic Security (CARES) Act, the government’s $2 trillion stimulus bill, includes a new tax credit for businesses impacted by the COVID-19 crisis.

As parts of the country look to start relaxing their lockdown measures, small business owners need to think about what's...
06/03/2020
Small Business Coronavirus Reopening Guide

As parts of the country look to start relaxing their lockdown measures, small business owners need to think about what's next and how they will adapt and move forward safely and sustainably. https://bit.ly/36lxdxx

A guide to helping businesses of all types and in all regions navigate the complex process of reopening and evolving post-coronavirus pandemic.

If you didn't purchase health insurance coverage for the last year, there will no longer be a penalty when you file your...
06/01/2020

If you didn't purchase health insurance coverage for the last year, there will no longer be a penalty when you file your Federal tax. It will be different though when it comes to your state tax, some states still require health insurance coverage.

Address

1600 NE Loop 410 Ste 100
San Antonio, TX
78209

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

Telephone

(210) 824-5611

Alerts

Be the first to know and let us send you an email when Mark Wood CPA posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Contact The Business

Send a message to Mark Wood CPA:

Videos

Nearby accountants


Other Tax preparation in San Antonio

Show All