June 2016 Newsletter

Does Your CPA Care About You and Your Business?

How do you really know if your CPA cares about you? A relationship with a good accountant can save you money and keep you compliant. A relationship with a great accountant does all those things and gives you attentive, professional responsiveness from an advisor who is on your team all year long. How do you know if your CPA has your best interests in mind? Click on the infographic for a handy list of questions to ask your current (or prospective) – accounting partner. Learn how to get the consistent and knowledgeable support you need. We care...and so do our clients. It's a pleasure to share a story of how our own clients are working within the community to care for others. Mayfield Oaks Senior Living Center is a family-owned, state certified personal care home that is committed to providing a family environment for its residents. The team, led by husband and wife team Jim and Helen Boyle, and sister Tina Boyle, was recognized by Lowe's Home Improvement as a … [Read more...]

January 2016 Newsletter

It's officially tax season! Are you prepared? Tax season can be stressful and confusing - but it doesn't have to be if you're informed and organized. Here is some important information our tax experts think should know to face the season head on. Announcing the IRS Standard Mileage Rates for 2016 As of January 1, 2016, the 2016 mileage rates for standard use of a vehicle (including vans, pickups, and panel trucks) are as follows: Business Miles Calculate the standard mileage rate based on an annual study of the fixed and variable costs of operating a vehicle. For 2016, the rate is 54 cents per mile for business miles driven, (down from 57.5 cents in 2015). Medical and Moving Miles Calculate the standard mileage rate based on variable costs. For 2016, the rate is 19 cents per mile driven for medical or moving purposes (down from 23 cents in 2015). Charitable Service Miles Calculate the rate based on statute. For 2016, the rate will remain steady at 14 cents … [Read more...]

October 2015 Newsletter

The Key Financial Pieces of Successful Expansion Recently, we’ve been exploring the financial benefits, tasks and consequences of expansion. We’ve looked at everything from which questions to ask on the front end of planning, to the many variances in tax compliance, to recommended accounting systems. In this newsletter, the SJG team offers best practices we’ve assembled over decades of supporting emerging and expanding businesses. Read on, share, and plan your next steps with confidence. Planning an Expansion? These are Your Most Important Considerations. By nature, most entrepreneurs and business owners are goal setters, innovators and challenge seekers. For many, once their business is on solid footing, there’s already consideration of what the next one might be. If that next step is expansion, it’s critical to start with smart planning. We look at what expansion really entails and impacts, and then walk you through the most important expansion options, considering the pros and … [Read more...]

July 2015 Newsletter

Three steps toward securing financial health As a small business owner, you probably spend almost as much time planning and managing your financial priorities as you do on your business. You have daily, weekly, monthly and quarterly to-do lists. Knowing what to prioritize and how to keep everything working smoothly takes solid planning - and reliable support. Record Retention Sustaining smooth, useful financials starts with knowing what records you should keep and how long you should retain them. The right information helps you to do things like map your business progress, understand your best sources of income and deductions, and remain on top of your business and personal taxes. In general, determining how long you should keep a record is based on the action, expense of event that the document records. This is one of the questions we answer most frequently at S.J. Gorowitz Accounting & Tax Services, P.C. As we approach tax deadlines, now is a great time to make sure your … [Read more...]