Money

  • Tax Reform Move Over 2017 Tax Deadline Ahead!

    It’s Official, Tax Reform is here! This is the first significant reform of the U.S. tax code since 1986. BUT WAIT! It’s easy to forget that we still have 2017 taxes to file, which are governed by the old rules. That’s tax preparation. While we are working on 2017 taxes, that’s an opportunity to have […]

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  • How the Tax Reforms Will Take Effect

    Some of the impact of the Tax Cuts & Jobs Act will be felt mostly for the 2018 tax year. President Donald Trump signed the Tax Cuts & Jobs Act into law on December 22nd, and on January 1st, some key details of the Internal Revenue Code will abruptly change. Changes will be noticeable. On […]

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  • 1099 vs W2

    As a business owner, do you ever wonder if you are doing things right in regards to the distinction above? If you answered yes, we at Financial Accounting Services are here to help. Considering the hefty penalties that come along with misclassification, it is vital to be aware of the many different variables that come […]

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  • National Merchants Association’s Chargeback Control Program Now Offers Post-MID Closure Refunds

    Exclusive service reduces chargeback numbers, saves merchants money National Merchants Association (NMA), a global merchant advocacy group and a leader in merchant services, is thrilled to announce a solution. Accounts that are protected by NMA’s Chargeback Control Program (CCP) now have the added security of Post MID-Closure Refunds built in. “This is a very big […]

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  • It’s Not How Much You Make, It’s How Much You Keep

    Reaching and surpassing a 10-year milestone being a business owner is something to celebrate. I feel blessed, I have learned a lot and grew in the process. Especially starting out in a foreign country where you knew nobody and the laws are different. I am grateful for the opportunity I had working for other CPA […]

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  • Forever Indebted

    In contrast, as of July 31 of this year, the federal government’s total debt stands at $19.845 trillion, according to the Treasury Department. Nearly all of it is subject to the statutory debt ceiling, which is currently set at just under $19.809 trillion. As a result, as of the end of July there was just […]

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  • Do You Own an Inactive Business? Is it Time to Close it Before the End of the Year?

    All corporations, limited-liability companies, limited partnerships, limited-liability partnerships and other business entities are legal entities which can only be dissolved through formal action, not by a letter or phone call. You remain liable for all taxes, assessments, fines, penalties and interest until you receive a certificate of dissolution from the Secretary of State. Here are […]

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  • Are You an Employee or an Independent Contractor?

    Under common-law rules, anyone who performs services for you is your employee if you can control what will be done and how it will be done. Therefore, an employer-employee relationship exists when the person for whom services are performed has the right to control and direct the individual who performs the services, not only as […]

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  • Size Does Matter

    Community banks obtain deposits from local individuals and businesses and lend them out to local borrowers to help fund local home purchases, the creation and expansion of businesses in our area, and other personal and business-related needs. Funds not lent are typically invested in secure, U.S. government-backed securities. Those deposits if held at a large […]

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  • Is Tax Planning for YOU?

    On the other hand with tax planning you are taking a proactive approach. The focus is on the present and future. For example, receiving a huge refund year after year is a sign of no tax planning. No, it is not a savings account. Ask yourself, is it earning interest? As a taxpayer you could […]

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  • Equifax Data Breach: This Time, It Really is Different

    Your odds of being one of those people with their personal information out there for potentially bad actors to access is greater than a random flip of the coin. The types of information stolen is more significant than in past hacks. Full names, SSN’s, driver’s license numbers, birthdates, past credit events, credit inquiries, and the […]

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  • National Merchants Association Announces Sponsorship

    New banking relationship enables fast-growing merchant processor to expand its aggressive push into “card-present” channel and increase services to merchants.         National Merchants Association (NMA), a global merchant advocacy group and leader in merchant services, recently announced its new sponsor banking relationship with Commercial Bank of California (CBC), a full-service, FDIC-insured bank […]

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  • When is Social Security Income Taxable?

    The answer depends on your income. Your Social Security income could be taxed. That may seem unfair, or unfathomable. Regardless of how you feel about it, it is a possibility. Seniors have had to contend with this possibility since 1984. Social Security benefits became taxable above certain yearly income thresholds in that year. Frustratingly for […]

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  • Shareholder-Employee of an S Corporation

    An S corporation is a corporation that elects to pass its corporate income, losses, deductions and credits through to its shareholder(s). A shareholder of an S corporation reports the flow-through of income and losses on their personal tax returns and are assessed tax at their individual income tax rates. When a corporate officer performs services […]

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  • Financial Accounting Services Relocating June 1st

    Financial Accounting Services Inc. (FAS) has announced plans to relocate effective June 1, 2017.  We are not moving far but we are moving to a larger space with a first-floor access. Both of which are needed to better serve our growing client base. FAS will begin operations from the KDM Building at 41635 Enterprise Circle […]

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  • 15 Ways for Owners to Maximize the Value of Their Business

    Sunbelt Business Sales, Mergers & Acquisitions Drive revenues up and, more importantly, maximize Seller’s Discretionary Earnings.  Secure new customers and alliances; add new products, services and channels of distribution. Diversify as much as possible and reduce customer concentration. Maintain a thorough set of financial records, including timely monthly financial statements.  Report all cash revenues. Build […]

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  • Building an Emergency Fund

    Everyone should aim to have a cash reserve.   We all would love to have a little extra cash on hand for emergencies. Saving up that cash can be a challenge – but with a little effort, that challenge can be met. Imagine a 30-year-old couple with no real savings. Let’s call them Kurt and […]

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  • NMA names Jason Holderness as Chief Technology Officer

    National Merchants Association, a global merchant advocacy group and a leader in merchant services has named Jason Holderness to the position of Chief Technology Officer. Holderness has served in the role of Director of Software Development since joining NMA in 2016 and takes the reins from former CTO Brian Randolph, who now assumes the role […]

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  • Jacob Bennett tapped for Chief Risk Officer at NMA

    National Merchants Association, a global merchant advocacy group and a leader in merchant services named Jacob Bennett as Chief Risk Officer. Bennett has previously served in the role of Vice President of Risk and Underwriting since joining NMA in 2014. In his new role, Bennett is responsible for leading the risk and underwriting departments which […]

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  • Is Your Small Business Struggling Financially?

    Businesses are the very heart of the economy. Small businesses often face many financial obstacles if not properly managed. This could be due to several factors such as, an industry that is seasonal in nature, or aging accounts receivables, cash flow problems, a lot of debt, bad relationships with vendors or lack of profitability or […]

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  • 2017 Tax Year Changes

    Business Taxes: The standard mileage rate for business driving has changed in 2017, it falls to 53 ½¢ a mile, a 0.5¢ drop. Traveling for medical purposes and job-related moves the rate decreases to 17¢ a mile. For the charitable driving the rate remains at 14¢ a mile. Two business tax breaks first apply on […]

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  • Brian Randolph Named Chief Operating Officer at NMA

    National Merchants Association, a global merchant advocacy group and a leader in merchant services, today announced that Brian Randolph would assume the position of Chief Operating Officer. Randolph has served in the role of Chief Technology Officer and Partner since joining NMA in 2009. “I am thrilled and humbled to embark on this new challenge,” […]

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  • Putting Your Tax Refund to Work

    What could that money potentially help you to accomplish? Should your refund be spent? In 2016, more than 109 million tax filers received federal tax refunds, with the average refund at $2,893. What happens to that money? In most cases, little of the refunded money is saved or invested: last year, more people used their […]

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  • Can I Deduct That?

    Can I deduct that? With tax season here, chances are you’ve heard those words or you have asked that question yourself. What is a tax deduction? A tax deduction, or tax write-off, is used to decrease taxable income, thereby decreasing the amount of tax owed. There are different types of tax deductions available. In addition […]

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  • NMA’s CEO Heather Petersen to Speak on “The Current State of Digital Transactions” at the CES Digital Money Forum

    National Merchants Association, a bankcard leader and merchant advocacy group, today announced that its CEO Heather Petersen will speak on “The Current State of Digital Transactions” panel at the CES Digital Money Forum. The panel is being held at 9:30 a.m. on Thursday, Jan. 5, 2017, at the Las Vegas Convention Center North Hall, Room […]

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  • NMA Recognized on ‘2016 Inland Empire Top Workplaces Award’ List

    Awards solely based on employee surveys. National Merchants Association, a global merchant advocacy group and a leader in merchant services, has been ranked in the Top 10 of the 2016 Inland Empire Top Workplaces list from the Press-Enterprise newspaper. This award is based solely on the results of an employee feedback survey administered by WorkplaceDynamics, […]

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  • Are You Prepared for Tax Filing Season?

    Why, What, When, Where and How to Prepare: Why? Well-organized tax records make it easier to prepare a tax return and they help provide answers if your tax return is selected for a tax examination, or to prepare a response if you receive an IRS or State notice.  Devoting time to organize your tax-related documents […]

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  • Are Your Prices Too High or Too Low?

    But another aspect often overlooked is simplicity.   I ran into a “pricing conundrum”, during a recent visit to a favorite sandwich shop. Normally it’s a quick stop for my “usual” but unfortunately the chain changed their pricing options. Because of this new and improved advertised low price, to obtain the lunch with all the same […]

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  • NMA Launches New Chargeback Control Platform for its Merchant Members

    National Merchants Association, a global merchant advocacy group and a leader in merchant services,   launched its new Chargeback Control Platform™ (CCP). CCP is a tool designed to intercept inbound disputes before they become chargebacks by automating the refund process and handling alerts instantaneously, effectively saving business owners money and keeping their merchant accounts in […]

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  • NMA and dLocal Ink Deal to Provide Payments Processing Services throughout Latin America

    “Our partnership with dLocal enables us to offer our merchants e-commerce payments processing in Latin America,” said Heather Petersen, CEO, National Merchants Association. “This is part of our ongoing strategy to empower our merchants to have global access building on our recent European expansion.” With this agreement, NMA merchants now have access to local credit […]

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