JULY NEWSLETTER

Lori E. Wattelet, CPA

July 2024

 

What Can YOUR CPA do for YOU?

 

CPAs provide much more than assistance during tax season. It's a common misconception among business owners and individuals that CPAs are only beneficial for tax navigation. Indeed, a CPA understands your business as a set of numbers on a page, but a proficient CPA can tell a story within those figures. They can identify areas for business expansion and pinpoint where you may be incurring unnecessary losses. Your CPA is ideally positioned to help you transition from present tax compliance to future financial planning.

 

Starting a Business

Ask your CPA for suggestions on what form the business could take, business planning and specific tax advice.


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Tax Planning

Your CPA can help you with tax planning and compliance to minimize your tax liability. I can also keep you informed of changes to tax law.

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Set-up a Bookkeeping System

A CPA can help you set up a computerized bookkeeping system so you can track sales, receivables, payables, and cash flow. A CPA can also prepare financial statements.

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Business Advice

Your CPA can work with you to anticipate growth and change. I can help improve your business through better financial management.

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If you're a small business owner or you have sold investments and realized significant capital gains, it's crucial to avoid underpayment penalties.


Ensure that you've made sufficient estimated tax payments.

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Clean Vehicle Tax Credits


I can assist you in determining if your electric vehicle (EV) or fuel cell vehicle (FCV) purchase is eligible for a tax credit, depending on whether you are:


  • Planning to purchase a new clean vehicle
  • Seeking to claim a credit for a newly purchased clean vehicle
  • Intending to buy or have already purchased a used clean vehicle
  • Acquiring a vehicle for business purposes




 
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