The Accountables

01/10/2025

Updates on standard mileage rates.

Sheryl McKeown-Harper

TheAccountables.com

12/08/2023

We file personal taxes for both Federal and State.

Single, Married, Head of Household, Sole proprietorship business returns.

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(916) 606 - 7550

Demystify your Finances: Serving businesses & individuals throughout California

12/08/2023

Hello folks!

We only have a few weeks left before tax season begins. No one wants to think about this now, but as a business owner this is a critical few weeks.
Last chance to do a year end review and see what might need to happen before the dice hit the table. Are you an SCorp? Do we need to cut you payroll to drop the corp net income? Construction company? Can we pay some contractors owed now?
Once it's January 1st, it's locked in and no changes can be made.

Do you need a set of books upon which to file your taxes?

11/30/2023

Happy December! This is the time of year when no one wants to deal with the finances.
If you own a company these last few weeks of the year are the last chance to change "how the dice land" before year end for tax planning purposes.
Do you know where your numbers are and what to do to improve your position?

theaccountables.pm.me
www.theaccountables.com

Schedule a short chat and let's see what we can do.
https://calendly.com/sherylmckeown/30min

Demystify your Finances: Serving businesses & individuals throughout California

12/16/2022

Happy December! This is the time of year when no one wants to deal with the finances.
If you own a company these last few weeks of the year are the last chance to change "how the dice land" before year end for tax planning purposes.
Do you know where your numbers are and what to do to improve your position?

Schedule a short chat and let's see what we can do.
https://calendly.com/sherylmckeown/30min
theaccountables.pm.me
www.theaccountables.com

Demystify your Finances: Serving businesses & individuals throughout California

12/16/2022

https://www.theaccountables.com/

As we approach year end and head into tax season will will be posting helpful tips and deadlines. We hope you find us helpful

Demystify your Finances: Serving businesses & individuals throughout California

03/18/2015

Hello! I am realizing that many of us may need some information on how to deduct business vehicle usage of a personal vehicle. The IRS will want/need the following for you to deduct the business use -
INDEPENDENT VERIFICATION OF VEHICLE MILEAGE. In January, have your oil changed - they will note the mileage on the car.
A MILEAGE LOG - keep a notebook in your car. When driving to business appts, note the places you are going and the beginning mileage for the day. Note the ending mileage for the day. There are also apps for your phone that will do this and export to excel to make the end of year math easier. Even if you have a dedicated business vehicle that you use 100% of of the time for business you must keep a mileage log to show this.
RECEIPTS or STATEMENTS - if you use a credit card to pay for your gas - you must keep the statement, receipt or both. NEVER shred your statement. The payment you make to the card is not enough to prove you bought gas. Keep receipts for cash purchases (this is your only record of the purchase).

The way the system works is if you drive 20000 miles this year (proved through the independent verification) and 10000 miles of it was business (proved through your mileage log), then 50% of your actual vehicle expenses are deductible to your business (proved through receipts and statements of purchases made) - for fuel, repair and maintenance, dvm. parking, tolls, etc.

Without any one of these items the IRS can and will deny the deduction. This is a team effort. You keep the records, The Accountables does the record keeping based on those records and the CPA files the taxes based on both. The cornerstone of the entire operation is the RECORDS. Which is the business owners part. Our job is to help you file accurate, reliable reports that we can help you stand behind if the the auditors show up.

03/07/2015

March 15th is the filing deadline for corporations. If your CPA is in need of docs, answers or other items to meet the deadline, it is best to get it to them sooner rather than later. At a certain point if you do not you go on the "file extention" list. Help them help you meet the filing deadline.