albuquerque CPA , TAX advice

2013 higher education breaks

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Tax credits can be especially valuable because they reduce taxes dollar-for-dollar; deductions reduce only the amount of income that’s taxed. A couple of credits are available for higher education expenses: 1. The American Opportunity credit — up to $2,500 per year per student for qualifying expenses for the first four years of postsecondary education. 2. […]

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Health Care Update

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Recently released IRS final regulations for the Affordable Care Act’s (ACA’s) employer shared-responsibility provision provide some short-term relief for midsize and large employers. Under the ACA, the shared-responsibility provision (commonly referred to as “play-or-pay”) applies to “large” employers — those with the equivalent of 50 or more full-time employees. Play-or-pay had been scheduled to go […]

albuquerque CPA , TAX advice

Substantiating Contributions for 2013

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To support a charitable deduction, you need to comply with IRS substantiation requirements. This generally includes obtaining a contemporaneous written acknowledgment from the charity stating the amount of the donation, whether you received any goods or services in consideration for the donation, and the value of any such goods or services. “Contemporaneous” means the earlier […]

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Accounting and Bookkeeping

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Accounting and Bookkeeping, what type of person should I be hiring for my accounting-bookkeeping needs? There are several parts to an accounting and bookkeeping system and one of the best ways to determine what type of accountants or bookeepers you need is to do a flow chart of how the paperwork flows through the office or business. Sit […]

Financial and Wealth Planning Services

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FINANCIAL, RETIREMENT, TAX AND BUSINESS PLANNING SERVICES FROM A FINANCIAL PERSPECTIVE We are an Albuquerque CPA  firm of people, people just like you, who must cope with planning for retirement, college education, emergencies, and the challenges that these bring. We can understand what our business and individual clients need because we are much like these clients. We have […]