Wildcat Tax & Accounting

11/20/2012

Hearing about "Taxmageddon" and the "Fiscal Cliff"? Wondering if and how it affects you? Stay tuned as we post detailed information the next several weeks.

12/19/2011

Whether you have an office building for your business, use a home office or a little of both, you need to protect your assets and your data. Security systems and monitoring like those done by Moore Security Solutions in Tucson give you the protection you need. And yes they are tax deductible in most cases.

11/16/2011

Interesting gift idea for the holiday season. Excellent tax planning opportunity. The kids may not be thrilled today but your wallet will be for years to come. The Tucson Business Experts at TNBE, The National Business Experts, The Social Media Masters.

Giving your child or grandchild a 529 plan is a good idea: Years from now, when they graduate without student loans, they'll thank you..

11/14/2011

Moral of the story? Make sure you're company is paying it's payroll taxes first! The Social Media Masters, The Tucson Business Experts at TNBE, Arizona Women Networking, Arizona Men Networking, Gia Heller.

Many a cash-strapped company fails to deposit its payroll taxes. Unlike other creditors, Federal and state taxing authorities are not at the company’s door demanding their money. The company resolves to pay the tax deficiencies later, when cash is available. Yet that day never arrives, and the [...]

11/03/2011

Great ideas for freguent travelers. I bet Blue Ridge Wireless could help with item number 6. I didn't know they made number 5, but I bet Essential Pest Management knows where I can get some. The Growth Coach Tucson and On Top of I.T. are sharp dressers so they probably have number 7 covered.

Being a corporate road warrior sometimes means having to be ready to hit the road at a moment's notice. No one wants to be stuck traveling without an essential item. Here are the items business travelers should always keep packed.

10/18/2011

When it comes to fighting the IRS, it's not only smart to pick your battles carefully, but battlegrounds as well. The Tucson Business Experts at TNBE, The Phoenix Business Experts, The National Business Experts, Arizona Women Networking, Arizona Men Networking.

Sometimes when the IRS loses in court, it announces that it isn't going to follow the court's decision. That may sound like the height of hubris. But since the IRS operates nationwide and most courts have limited jurisdiction, the IRS can choose to keep fighting elsewhere, even if the court [...]

09/30/2011

While this case only applies to a select number of audit cases, there will be some impact on audits as a whole. Make sure your accountant or bookkeeper is tracking basis BEFORE you sell. The Tucson Business Experts at TNBE, Arizona Women Networking, Arizona Men Networking, The National Business Experts.

When I recently observed that the IRS six year audit push may reach Supreme Court, I didn't think it would be so soon. The Supreme Court agreed to decide if the IRS can go back six years into your tax past or only three.

09/29/2011

Health care costs would have gone up some regardless. The Health Care Act has not only contributed to the increased costs, but it's being funded (partially) in a reduction in the allowed itemized deduction. As of this year only health care expenses in excess of 10% of AGI are deductible. There are solutions, especially for some business owners. Keep more of your hard earned $. The Tucson Business Experts at TNBE, Arizona Women Networking, Arizona Men Networking, The Phoenix Business Experts, The National Business Experts.

The signature legislation of the Obama Administration, the Affordable Care Act, came under damaging assault Wednesday from a Kaiser Family Foundation survey that found it has already partially contributed to increasing health care costs.

09/28/2011

Good news, Bad news. The Bad news is gas prices are still high. The Good news is the IRS has increased business mileage rates in the 2nd half of 2011 to 55.5 cents (from 51 cents Jan 1-June 30). Medical and moving mileage is up to 23.5 from 19 cents the first half. Make sure your mileage records reflect separate numbers for Jan 1-June 30 and July 1-Dec 31. The Tucson Business Experts at TNBE, Arizona Women Networking, Arizona Men Networking, The National Business Experts.

09/27/2011

Forget the politics. The numbers aren't exactly what I would calculate. But the premise is the same. The government quit buying Thirst Busters every day and started buying overpriced homes to offset the "savings". You wouldn't balance your home budget this way! Why is the government? We don't have enough votes at Wildcat Tax & Accounting to fix the governments budget, but our pro-active tax plans can help taxpayers with theirs. The Tucson Business Experts at TNBE, Arizona Women Networking, Arizona Men Networking, The Phoenix Business Experts.

A Florida-based chapter of the Tea Party has cracked the code in explaining the national debt.

09/26/2011

Not sure how many have the millions to give or bequeath as in this case. But it does everyone's heart good to see that the IRS doesn't win every time. Here's to everyone making so much I nearly run out of ideas. The Tucson Business Experts at TNBE, Arizona Men Networking, Arizona Women Networking, The Phoenix Business Experts.

Wealthy taxpayers who want to make large gifts to family members recently got good news: A federal appeals court affirmed a popular technique to sidestep gift taxes.