Bridgewater Tax and Financial Consulting

You are never too young to help in the family business. Maddie is helping me get after tax season client appreciation letters out.

As the old adage goes “Put Your Money Where Your Mouth Is”. I am a firm believer in social enterprise, and I have spent my academic career on this topic. I wanted to buy a small thank you gift for my clients, so I turned to a social enterprise. I chose spectrum designs https://lnkd.in/dfGyXnbE. I could not be happier with their products and service. For my non-profit friends wanting to help social enterprise, I would look them up. Also, if you are a business owner looking for a company with a quick response and personalized service look them up. Here is an image of what I got, let me know what you think?

PSA for the Day is quality accounting an expense or an asset? While many business owners look at accounting as an expense on profit and loss statement. The benefits that can be obtained from quality accounting may far outweigh the cost. I find that many owners that I work with that have organized financial statements make better decisions. The correct decisions lead to increased retained earnings and an improvement in their cash position or add to their investments. Therefore, one can conclude that good accounting is actually an Asset! If you are looking at organizing and improving your accounting give us a call.

Hi Everyone, I wanted to share a new blog that has been created for our website. The first four blog post represent some of the most common questions that I have received this tax season. They cover the following topics: ·        How to Keep Records for Your Business ·        Short Term Rental Rules ·        Information on Wills and Probate ·        How to take money from your business If you have any questions on these topics visit the website at https://lnkd.in/g3zP5Mfn P.S. If you have any questions you would like to know about that I can address through the blog let me know. We are here to help Real estate investors, Equity Investors, and Business Owners with their tax and financial needs. 

PSA of the day! This is the time of year that tax accountants look to retire, and people start looking for a new accountant. If for some reason you find yourself needing to switch tax accountants make sure your new accountant ask for at least two years tax returns. If your new accountant is doing a good job, they should be looking to understand where you have come from in the last few years, and where you plan to be in the future. Also, if you are looking to make a switch we are here to help.

Today is Tax Day, the day your personal taxes are due. However, tax planning begins tomorrow...If you want to know what you can do better for next year give us a call.

Two important things for Corporations to consider. One the filing deadline is coming up Friday March, 15,2024 for corporate filings. Second, On Friday March 1, 2024, the U.S. District Court for the District of Alabama declared the Corporate Transparency Act (CTA) unconstitutional. In the case of National Small Business Association v. Yellen (Case No. 5:22-cv-01448) [1], initiated by the National Small Business United, the challenge was against the CTA's mandate for small businesses to disclose their beneficial owners to the Financial Crimes Enforcement Network (FinCEN). The ruling has the effect of suspending all BOI filing requirements for now, all enforcement actions, and all compliance concerns including questions of ;practicing law without a license. Experts believe the ruling will be appealed, probably to the Supreme Court, so this is a temporary filing requirement suspension until a final appeal is exhausted. Voluntary filing appears to still be allowed if for some reason a client desires to file.

As you gather your information for this years taxes here are some things to consider...

Had so much fun last night for the opening of the business. Tax season here we come. Thank you to all those that attended we had a full house last night.

As you start to prepare your taxes. This is great information to have on hand to get ready to file your taxes. Click the link below to make sure you are prepared. https://lnkd.in/e5EpTnq