Planning Saves $$

LIMITED DISCOUNT – 15% OFF ALL SMALL BUSINESS TAX PLANNING!

INCOME INCREASE FROM THIS TIME LAST YEAR? INCOME DECREASE FROM THIS TIME LAST YEAR? TRYING TO DECIDE WHETHER OR NOT TO BUY NEW OR USED ASSETS? TRYING TO FIGURE OUT JUST HOW MUCH YOU SHOULD BE SAVING EVERY WEEK FOR YEAR END TAX LIABILITY?

WITH MY EXPERT TAX PLANNING SERVICES WE CAN MAXIMIZE THE BENEFIT OF TAX PLANNING – LEGALLY PAY LESS TAX AT YEAR END AND KEEP YOUR HARD EARNED MONEY TO YOURSELF.

-LIMITED TIME OFFER EXPIRES JUNE 30, 2013. AVAILABLE TO NEW CLIENTS ONLY.

 

 

Probate, Estates, Will, & Living Testaments Seminar

Planning for vacations, graduations, weddings, grandchildren and accomplishing your own ‘bucket list’ always gets highest priority. But planning for the serious stuff often gets put on the back burner –what happens to your real estate, bank account, certificates of deposit, IRA’s, mutual funds, 401k’s when you:

• Divorce
• Or your spouse pass away
• Get married or re-marry
• Give birth or adopt
• Move to a different state
• Have real property in a state other than your home state
• Have a death of a beneficiary listed in your will
• Experience major changes in income or asset value
• Inherit assets

 

Complementary seminar presented by Matthew J. Kriegel

of Eells & Tronvold Law Offices, PLC

Seminar Topic Include:

The Iowa Probate Process Last Will and Testament Revocable Living Trust Assets with Beneficiaries Already Listed Joint Tenancy of Real Estate Estate Tax Estimate of General Fee Range Q & A session

Seminar Details:

Who : You and your guest

When: Thursday June 27th at 6:00pm

Where: Kava House Café. 122 2nd St. Swisher, IA

Why: You NEED this information

RSVP Required. RSVP to info@bmp-cpa.com or 319.239.9903 Seminar will be limited to 20 attendees. RSVP today!

 

 

 

 

 

 

 

 

 

**I often hear age as a reason to avoid future planning but rest assured AGE does not matter. People of all ages should attend.

– bmp, CPA is not affiliated with Eells & Tronvold Law Offices, PLC

 

IRS is swamped…

Beware of Bogus IRS Emails

The IRS receives thousands of reports every year from taxpayers who receive emails out-of-the-blue claiming to be from the IRS. Scammers use the IRS name or logo to make the message appear authentic so you will respond to it. In reality, it’s a scam known as “phishing,” attempting to trick you into revealing your personal and financial information. The criminals then use this information to commit identity theft or steal your money.

The IRS has this advice for anyone who receives an email claiming to be from the IRS or directing you to an IRS site:

• Do not reply to the message;
• Do not open any attachments. Attachments may contain malicious code that will infect your computer; and
• Do not click on any links in a suspicious email or phishing website and do not enter confidential information.

Visit the IRS website and click on ‘Identity Theft’ at the bottom of the page for more information.

Here are five other key points the IRS wants you to know about phishing scams.

1. The IRS does not initiate contact with taxpayers by email or social media channels to request personal or financial information;

2. The IRS never asks for detailed personal and financial information like PIN numbers, passwords or similar secret access information for credit card, bank or other financial accounts;

3. The address of the official IRS website is www.irs.gov. Do not be misled by sites claiming to be the IRS but ending in .com, .net, .org or anything other than .gov. If you discover a website that claims to be the IRS but you suspect it is bogus, do not provide any personal information on their site and report it to the IRS;

4. If you receive a phone call, fax or letter in the mail from an individual claiming to be from the IRS but you suspect they are not an IRS employee, contact the IRS at 1-800-829-1040 to determine if the IRS has a legitimate need to contact you. Report any bogus correspondence. Forward a suspicious email to phishing@irs.gov;

5. You can help the IRS and other law enforcement agencies shut down these schemes.

Visit the IRS.gov website to get details on how to report scams and helpful resources if you are the victim of a scam.

Small Business ROCKS!

Top 10 reasons to love Iowa’s small businesses

 

The Des Moines District Office of the U.S. Small Business Administration is sending small businesses this Valentine with the top 10 reasons you should love them.

 

10. Small businesses make up 97 percent of all Iowa employers.

 9. Small businesses create more than 50 percent of the American nonfarm private gross domestic product (GDP).

 8. Small patenting firms produce 13 to 14 times more patents per employee than large patenting firms.

 7. The 257,376 small businesses in Iowa are located in every community and neighborhood.

 6. Small businesses employ 51.8 percent of Iowa’s non-farm private sector workers.

 5. Home-based businesses account for 53 percent of all small businesses.

 4. Small businesses are 97 percent of America’s exporters and produce 26 percent of all export value.

 3. Iowa saw an estimated 10,763 new small firms with employees start-up in the last year measured.

 2. There are approximately 8,000 minority-owned businesses and 66,000 women-owned businesses in Iowa, and almost all of them are small businesses.

 1. The latest figures show that small business creates 65 percent or more of America’s net new jobs.

Season Starts January 30th

“We have worked hard to open tax season as soon as possible.”

– Acting IRS Commissioner Steven T. Miller

The IRS recently announced that it is targeting January 30^th as the first day it will begin processing 2012 tax returns. This delay in filing is due to the late passage of the Tax Relief Act during the first week of January. Here is what you need to know.

Paper or Plastic (digital). It makes no difference if you e-file or send in a paper tax return. Both processes will begin on January 30^th.

Don’t Wait. A number of tax returns will not be allowed to process until late February or early March. Because of this, procrastinators could pay a heavy price in getting their returns processed and refunds paid versus other tax years. So get your information in as soon as possible.

Software Updates too. Just because the IRS says they anticipate processing tax returns on January 30^th does not mean all returns will be processed on that date. The software vendors must also update their programs AFTER the IRS provides revised specs for their tax forms.

Some Returns will need to wait. A number of tax returns will not be filed until late February or early March. This includes tax returns that have the following:

• Residential Energy Credits

• Qualified Adoption Expenses

• Depreciation of Property

• General Business Credits

• Domestic Production Activity Deductions (DPAD)

Remember, just because the processing of your tax return may be delayed does not mean you should delay the preparation of your return. Send in your tax information as soon as possible. Having your tax return ready when the processing window is open will help ensure the timely filing of your return and the receipt of any potential refunds. You can book your tax appointment online at www.bmp-cpa.com/schedule. BOOK TODAY!

It has been a very busy 25 days but I want to get my thank you’s out there! So well deserved!

First and foremost, I want to thank my clients for being so patient, understanding, and easy to work with! As I sit back and look at the past three years and look forward to the many more, I thank you for giving me a chance to serve your individual and small business taxation needs. It’s a true honor.

For those who attended the second annual client appreciation event in October at the Kava House Cafe in Swisher – Thank you for coming! Great to see you without the same old gray walls surrounding us. 🙂 Thank you Karen of Kava House Cafe for being such a great hostess!

A BIG thanks to Lois and Jeremy James of James Investment Group for sharing your expertise in Social Security and other retirement planning strategies with bmp, CPA clients at no cost to them. Many who attended said it was an ‘eye opening’ experience that everyone should experience. It got people thinking about their future, gaining trust in a certified financial planner, and provided relevant and critical information. **Due to heavy demand this will be offered again. Contact Brooke at info@bmp-cpa.com or 319.239.9903.

Thank you to the salon and spa service providers as well as real estate professionals who attended this week’s ‘Tax and Financial Must Knows’ Seminar. We discussed how self-employment works, what deductions can be taken, how to track mileage, best ways to keep records, and how to protect a paycheck shall I cannot work. CRITICAL information!

All Current bmp, CPA Clients and Guests are Invited…

Client Appreciation Event!

Complimentary Iowa wine with homemade dessert for all clients and their guests!

When:     Thursday October 18, 2012
Time:      4:00 – 7:00pm  open house format
Where:    Kava House Cafe
122 Second Street Northwest
Swisher, IA 52333

For directions please see the Kava House Cafe website at http://kavahousecafe.com/

RSVP to info@bmp-cpa.com or 319.239.9903 by October 11, 2012.

 

New form clarifies financial aid info for collegians

Most college students these days need some financial help to pay for their education. Faced with soaring tuition costs, it’s important for students and their families to compare financial aid packages from different schools. But the way it is now, it can be difficult to know exactly what is being offered in a financial aid package and what the net cost will be for attending that school.

The new Financial Aid Shopping Sheet, a template for financial aid letters prepared by the U.S. Department of Education and the Consumer Financial Protection Bureau, is designed to provide this information in a standardized format.

“Instead of being full of jargon and other information you might not understand, it gives you clear information about how much you have to pay, how much debt you’ll need to take on and how much you might owe after graduation, including an estimate of monthly payments,” explained Rohit Chopram student loan ombudsman with the Consumer Financial Protection Bureau.

Click here for full article.

Moonlighting? Extra income = change on tax return!

Looking for a few extra bucks moonlighting? Click here for others who have taken this path.

Extra moonlighting income has the potential to drastically impact the tax return. Let’s discuss this impact before it’s too late to plan for it! contact me today at (319) 239-9903 or info@bmp-cpa.com.