Did you know that when you decide to save a few bucks and have your taxes prepared by a major corporation they will not be there year-round?  After the April 15^th deadline, the “local” office is shutdown and it is nearly impossible to speak and get assistance from the person who prepared you taxes.  At the office of Gabrielle M. Luoma, CPA, PLLC, you get year-round assistance with a personal touch that nobody in the greater Tucson area can rival. You might not think that the personalized year-round service is necessary, until you have the IRS chasing you down for a mistake on your return or worse, an audit.

Not only does Gabby offer tax preparation services, we can help you with tax planning, estimated tax payment calculations and assistance dealing with the dreaded IRS.  Going further, Gabby offers a wide range of accounting services with the same personal touch that the big accounting conglomerates cannot match.  If you are in the Southern Arizona area and need your taxes prepared, look no further and partner with a CPA who knows how to maximize your bottom line, get you the best refund possible, and works with you to achieve your greatest potential.  Don’t just believe me that Gabby and her staff offer unrivaled accounting and taxation services, but visit our testimonials page and see for yourself why Gabrielle M. Luoma, CPA, PLLC is the best choice for you.

Please join us on Friday, February 3rd from 2 to 6pm for our Super Bowl Party!!! Come mix and mingle, enjoy some great food, and win some prizes!

We will be giving away five (5) $100 vouchers towards an Industry Analytical Report; this will let you see how you measure up to your business competition! In addition to the vouchers, we will be giving away other freebies and there will be quarterly winners from our Super Bowl Points Game!

FOOD! FOOD! FOOD! We know everybody enjoys a good party with some great food and that is why we will have a variety of food options. And back by popular demand, we will be serving our “Famous Chocolate Covered Footballs”!

Please note that this is a public event and everybody is welcome!! Even if you don’t know me or my staff please come by and enjoy some food, fun, and prizes in order to kick off Super Bowl weekend the right way.

Please feel free to bring your family, business cards, and your favorite football gear. Oh yeah, in case I didn’t already mention it – be prepared to have some FUN!

To get a estimate on the number of attendees, please call 520-572-1248 to RSVP to this event or RSVP via Facebook!

Refreshments will be provided as well as a chance to win a giftcard to the Cheesecake Factory or 4 tickets to the Casino Del Sol All Star Game on January 16th!

If you are not already a client, this is the perfect opportunity to come meet Gabby and her staff and pick up a 2011 income tax organizer to help organize your information and make the tax season as pain and stress free as possible.  If you are not familiar with Gabrielle M. Luoma, CPA, PLLC please check out the “About Us” page and see why hundreds of people a year are switching their businesses and individual accounting, tax, and consulting needs over to to Gabby and her team.

Although, I am a CPA and taxes are my forte, I truly believe in taking the business in as a whole picture. From my own experience there are 100 ideas to help you run your business. I hope that I can share a few that will help you jump start your future.

Happy New Year!

• The educator’s exclusion of $250 is finished by December 31st 2011. No extensions are in place for this one!
• I just recently heard a colleague say in reference to a QuickBooks file as a “Quick Mess”. That’s what you get when you setup QuickBooks wrong.
• No matter what software you use make sure you understand how it works. Bad input is always bad output and never a good planning tool!
• Get organized! That’s my best advice for good tax planning, good business planning and for your overall success.
• Taxes…. If you are a high W2 wage earner you need to max out your company 401k. This is the first step to reducing your taxes!
• Read E myth. Best book I have read on our split personalities as business owners! You will relate I promise!
• So many tools are available to be used these days… With technology and an app for everything there is bound to be one or two that will make your life easier! Find a few financial Apps this year that will help with your finances!
• Find a business coach that will keep you on track with your goals and aspirations. Next be teachable and willing or it’s no fun for either of you!
• Tax deduction vs. good idea? Make sure the business decision is both financially a good tax deduction and wise business decision.
• Treat your business like a business not a piggy bank! Set budgets and goals you can stick to and you will measurable financial success!
• Make a new year’s resolution to get your paperwork done sooner! This will equal less stress for you and your family!
• Only $25 is allowable for deduction on client gifts!
• Only 50% of meals and entertainment are deductible.  Report 100% to your tax preparer. Our software does the rest.
• If you are on QuickBooks, reconcile all your accounts! This is the only way to insure that you got all your business income and expenses booked!
• Make sure your calendar clearly states what you did this year. It will be used to substantiate your business receipts!
• Start tallying up your mileage log now! It’s one of those last minute things that slow down the whole process in your tax preparation.
• Count inventory on Dec 31! Keep your list handy for tax preparer and IRS should you be audited!

How much is the credit for?

Starting in 2006 and continuing in the years following, the maximum credit for charitable contributions made to organizations that help the working poor is $400 for married couples.  If you are a married and you file your tax return separately from your spouse, each of you may claim half of the credit that would have been permitted on a joint return.  The maximum credit allowed for single taxpayers is $200.

Who can claim this credit?

The Arizona Working Poor Tax Credit may only be claimed by individuals, which includes married couples.  However, corporations may not claim this credit and partnerships are not allowed to claim this credit through its partners.  In order to receive this credit you must claim the itemized deduction on you Arizona return for the year that the charitable contribution was made.

How do I claim the credit?

If you qualify for the credit, you must report the name of the organization that you contributed as well as the dollar amount of the contribution to the Arizona Department of Revenue on Form 321.  Obviously, after you complete the form, you must include it when you file your tax return.  If you are filing your own return, you can find Form 321 by following the link.  If you are not planning on preparing your own taxes we will be more than happy to be of assistance, our certified team of tax professionals ensure timely and accurate filing of your return.

Please not that you may not claim the charitable contribution as part of the Working Poor Tax Credit and a Arizona deduction.  Additionally, you may only claim this tax credit if the contribution was made to a approved charitable organization which can be found below.

If you have questions concerning your taxes or would like us to prepare your taxes for your 2011 return, don’t hesitate to give us a call.

Title:
The Top 3 Must Have Strategies to Help Your Business Succeed Online
Date:
Wednesday, September 28, 2011
Time:
4:00 PM – 5:00 PM PDT

After registering you will receive a confirmation email containing information about joining the Webinar.

System Requirements
PC-based attendees
Required: Windows® 7, Vista, XP or 2003 Server
Macintosh®-based attendees
Required: Mac OS® X 10.5 or newer

There’s a reason—many, actually—why QuickBooks is the most popular accounting software among business owners. In addition to offering simplicity and accuracy, it’s also highly cost-effective, helping to reduce operational costs and boost productivity. Our team of certified QuickBooks Pro advisors can help you fully leverage your accounting solution with our comprehensive training services.

After taking the time to determine your business needs, we’ll help implement the QuickBooks solution that’s right for you. Next, we’ll provide training sessions tailored to your skill level, identifying shortcuts that will help save you time and money. See our Quick Books Rates and Services.

• Financial reporting
• Bookkeeping functions
• Asset management
• Tax preparation and planning
• A/P functions
• Reconciliation of accounts
• Budget creation and analysis
• Payroll management
• Business advisory services

Our team of conscientious tax professionals can assist you with all your essential taxation needs:

• Tax preparation for individuals, businesses, trusts, non-profits, and schools
• Comprehensive bookkeeping services
• Small business consulting
• Year-round tax planning
• Assistance with tax audits
• Sales tax reports