Mindy L Smith CPA

02/21/2023

For all my clients that need a mileage app so their CPA (wink wink) has proper documentation for your tax return here is a 20% off code for Mile IQ. (ZROT949A)

MileIQ is an automatic mileage tracker app that works. Our tracker automatically reports & records your miles so you can be stress-free. ✓ Sign up today!

05/05/2022

If you are Self-Employed or part of a high-deductible health plan and HSA is a must. If you have young children it's the perfect way to put away for future orthodontia costs. These plans are not use-it or lose-it. Reach out to me if you have questions.

This article shows how clients can benefit from viewing a health savings account as a flexible tax-favored investment strategy.

05/02/2022

https://taxprof.typepad.com/taxprof_blog/2022/05/lesson-from-the-tax-court-distinguishing-employees-from-independent-contractors.html

Pro Publica has proudly proclaimed that “If You’re Getting a W-2, You’re a Sucker.” I know lots of workers who would strongly disagree. For them, being a W-2 worker (a/k/a “employee”) is far more beneficial than their realistic alternative, which is being a 1099 worker (a/k/a “independ...

11/15/2021

Business Qwners and Self-Employed's take note. Make sure you are properly reporting your income and you are able to reconcile these forms being received.

08/31/2021

https://www.accountingweb.com/practice/clients/helping-clients-prepare-for-death-related-expenses

Be prepared. Planning now saves time and stress when such an emotional time is thrust upon a family. Knowing your affairs are in order allows your loved ones the ability to grieve and comfort each other rather than having to deal with legal matters.

Here’s a nightmare scenario: Suppose a client had wealthy older parents. They had enough cash flow to live a comfortable life and made investments along th

08/26/2021

https://www.accountingweb.com/practice/clients/the-pros-and-cons-of-buying-real-estate-as-an-llc

It's always prudent to speak to your attorney and CPA before purchasing investment property - Here's why..

Investing in real estate is a great way to build wealth, and it’s a strategy that is increasingly used by businesses, rather than individuals. Because of t

12/03/2020

The IRS announced that it would begin allowing all individual taxpayers to opt in to receive an identity protection personal identification number (IP PIN), beginning in mid-January 2021.

08/25/2020

https://www.journalofaccountancy.com/news/2020/aug/irs-corrects-erroneous-payroll-tax-penalties-suspends-some-balance-due-notices.html?utm_source=mnl:cpald&utm_medium=email&utm_campaign=25Aug2020

For those receiving tax notices from the IRS, this might be a good read. Stay calm, most of these notices are in error

The IRS has stopped sending balance-due notices to taxpayers as it works to process its backlog of unopened mail. It is also working to correct certain erroneous penalties for some employers who reduced their payroll tax deposits to claim COVID-19 relief-related credits.

06/13/2020

To all my Austin peeps - If you do not have your affairs in order you need to be on this call. Your family will appreciate it.