Veteran Fast Launch Initiative

A couple of years ago I was asked to be a part of the AICPA initiative with SCORE to be one of the CPAs from across the country that volunteers time to be a part of the Veteran Fast Launch Initiative. I’ve included a link to a press release regarding this program at the end of this blog. The exciting part for me is that I have the opportunity to connect with other veterans and help them with their small businesses and building their dreams. As a small business owner and a veteran, it’s an incredible way for me to help pay it forward.

This program allows veterans from across the country to access a database and find a CPA available to assist them. The assistance needed varies depending on the needs of the veteran and his or her small business. The type of advice sought after is dictated by the veteran which in part is what makes this initiative so helpful as it’s not limited to one particular facet of building or starting a business. It could be that the veteran wants to start his or her own business but is unsure of paperwork or it could be the veteran who needs to expand or utilize new software and has questions regarding that particular need or area.

If you are a veteran and are interested in utilizing this service, please feel free to contact me or to visit the database of CPAs involved in the program at www.aicpa.org/veterans. If you know of a veteran who could benefit from this free service, please share this information with them. It’s a great resource for veterans that they may not be aware of and that could benefit them greatly!

Organizers

It’s that time of year when we send out the organizers to help you gather up your documents and paperwork so that you can hand those off to us and we can prepare your 2014 taxes. The organizers go out in the mail early next week. You can use these as much or as little as you want to help prepare your documentation. Once you are ready you have one of three ways to get that information to us.

  • You can drop off the documents and planner to our office anytime between 9am and 4pm, Monday through Friday.
  • You can use our secure portal to upload the documents onto our server.
  • Or you can mail your documents to us.

Whichever method you choose, just remember that we relocated our offices last May. We are now located in the brick four story building next to McDonalds on Carmel Drive.
As always, we’re also happy to meet with you in person to go over any tax questions or concerns you might have.

Happy New Year

In the Watson household, we celebrate the end of the year for two different reasons. First – the traditional New Year’s eve type celebrations but before we get to midnight, we spend the day celebrating our son’s birthday. That’s right – your CPA and his wife did some awesome tax planning 12 years ago when our son made his appearance late in the evening on December 31st. We earned the tax credit for his birth in that year and he’d only been around for it less than 3 hours! My wife always jokes that I got congratulated more for the tax planning and timing then she did for the birth of our son.

And speaking of tax planning, the IRS has listed the mileage rules for 2015. Beginning on Jan. 1, 2015, the standard mileage rates for the use of a car, van, pickup or panel truck are:

  • 57.5 cents per mile for business miles driven, up from 56 cents in 2014
  • 23 cents per mile driven for medical or moving purposes, down half a cent from 2014
  • 14 cents per mile driven in service of charitable organizations

Taxpayers always have the option of claiming deductions based on the actual costs of using a vehicle rather than the standard mileage rates.

Let us know if you have any questions about standard mileage rates and which driving activities you should keep track of as tax year 2015 begins. It’s always easier to start the year with the right method of tracking than to go back and try to fix it!
You can also find additional information regarding this subject as well as the tax change checklist for 2015 in our monthly newsletter. If you’re not signed up yet for that newsletter, send us an email and we’ll add you! It comes out just once a month so you won’t be slammed with tax information!

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