Tag: Gregory W. Beck CPA
The Offices of Gregory W. Beck, CPA – A Professional Corporation Announce New Website Launch
Gregory W. Beck, CPA – A Professional Corporation recently launched a new and improved interactive website for its Orange County, CA-based accounting firm.
Located at http://www.beck1cpa.com, the new website makes it clear to visitors that the strength of Gregory W. Beck, CPA reaches well beyond the typical variety of financial, tax and accounting firm general services. Gregory W. Beck, CPA specializes in meeting the unique needs of non-public, closely held businesses through areas such as strategic business planning and part-time CFO Services.
“Greg has an impeccable reputation and provides a wide range of general and specialized tax skills – we wanted to showcase this range visually and make Greg’s vast experience the focal point of the site.” said Alex Ribble, owner of Digital Marketing Firm Big Chief Creative
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2012 Taxpayer Relief Act Protects Key Individual Tax Breaks By Gregory W. Beck, CPA
On Jan. 1, 2013, Congress passed the American Taxpayer Relief Act (2012 Taxpayer Relief Act), which the President has vowed to sign as soon as it is ready for his signature. The 2012 Taxpayer Relief Act will prevent many of the tax hikes that were scheduled to go into effect this year and retain many favorable tax breaks that were scheduled to expire, but will also increase income taxes for some high-income individuals and slightly increase transfer tax rates from 2012 levels. Further, it extends a host of expired and expiring tax breaks for businesses and individuals.
This Special Study explains the key individual tax breaks, including a continuation of the Bush-era tax rates for most taxpayers and a permanent AMT “patch,” that are provided in the 2012
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Right now, the only thing that congress and the executive branch can agree on is to disagree. Based on that, 2012 and 2013 will have a lot of uncertainty. Here are some highlights about the tax law that we know now or expect for 2012 and 2013:
Expiring (as in gone) provisions after December 31, 2012:
The 2% Social Security payroll tax cut – expect net checks in 20132 to decrease as Social Security increases back up to 6.2% of wages up to $113,700 (yes the dollar limit is up too!).
The tuition deduction expired after 2011 (not available for 2012) but the education credit is still available for 2012 and beyond.
Mortgage insurance (PMI) is not deductible in 2012.
The 50% bonus depreciation on business assets expires after 12/31/2012.
The estate tax exemption of $5.12 million will decrease to the $1 million level. The default
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Three Most Common Budgeting Errors by Gregory W. Beck, CPA
When it comes to creating a budget, it’s essential to estimate your spending as realistically as possible. Here are three budget-related errors commonly made by small businesses, and some tips for avoiding them.