October 07, 2021
Be vulnerable. Be bold. Be brave. Despite popular belief, facing personal vulnerabilities can help contribute to your success. Over the years, I’ve learned that not everyone will be kind or supportive, but there will be select people who will surely help you along the way. With that, I have aimed to contribute my own efforts in inspiring others to take action and take risk into their own hands.
October 04, 2021
When it comes to starting a new business, the first considerations that quickly come into mind are deciding on a business name, a logo, or finding clients. Unfortunately, many fail to consider the importance and benefits of working closely with a CPA during this crucial developmental time. Collaborating with the right CPA can save you time, money, and frustration as you look to grow your business, but most importantly, ensure that it's headed in the right financial direction.
September 29, 2021
Benjamin Franklin famously said, "If you fail to plan, you are planning to fail!" While Congress debates on President Biden's tax plan, the "Build Back Better Plan," which is just weeks away from its final approval, there are likely scenarios that you and your CPA should be planning for in the months to come.
September 07, 2021
We here at Cambaliza McGee LLP believe that there are some major benefits of having your company’s financial statements reviewed or audited outside of those pesky requirements brought about banks, government agencies or other outside organizations. As a business owner, a timely audit or review can provide valuable information which will allow you to make more informed business decisions, which bring us to our first point.
August 05, 2021
One of the most significant and often overlooked IRS-sanctioned tax strategies for Real Estate investors is a Cost Segregation Study of your properties. A cost integration study can allow various subcomponents of a building to be depreciated in an accelerated timeframe reducing your tax liability, therefore, freeing up your cash flow.
July 13, 2021
A 401(k) audit is required by the Employee Retirement Income Security Act (ERISA) to ensure that your 401(k) plan is compliant with the IRS and Department of Labor regulations. The audit process can appear harrowing and tedious; however, if you take some time to understand the process and requirements, you set yourself up for success and ensure the audit goes smoothly.