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David Knoble, CPA, PLLC - Part 2

David Knoble, CPA, PLLC

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Helpful Links

These links will help you nav­i­gate to other web resources for your orga­ni­za­tion, busi­ness or family.

Penalties From Using Tax Software

A fre­quent ques­tion we are asked is “Why can’t I do my own taxes on Turbo Tax® or Tax Cut® soft­ware?”  We came across a Tax Court case in which an indi­vid­ual was assessed a 20% penalty even though she used tax soft­ware to pre­pare her taxes.  The indi­vid­ual argued she should not have … → Read More: Penal­ties From Using Tax Software

A New Hire Tax Credit

The IRS tends to release some great indi­vid­ual tax cred­its — take the new homeowner’s credit now on it’s third revi­sion.  Most often, the new busi­ness cred­its are hard to take full advan­tage of for small busi­nesses.  How­ever, there is a new tax credit out and the IRS has released the nec­es­sary forms to apply for the credit.  Most impres­sive is the abil­ity for many small busi­ness to take advan­tage of the credit.  Here’s the basics.  » Read more about A New Hire Tax Credit »

© 2010, david.knoble
by David Kno­ble, CPA, PLLC
Serv­ing Non-Profits, Busi­nesses & Indi­vid­u­als
Rock Hill, SC

Watch for Scam Emails looking like the IRS!

Always be care­ful open­ing email from sources you do not know.  Now you have to be care­ful watch­ing for email from the IRS.  With very few excep­tions, the IRS does not send email to indi­vid­u­als and busi­nesses.  Here is how to tell if your email is fraud­u­lent or a scam.

 » Read more about Watch for Scam Emails look­ing like the IRS! »

© 2010, david.knoble
by David Kno­ble, CPA, PLLC
Serv­ing Non-Profits, Busi­nesses & Indi­vid­u­als
Rock Hill, SC

Act! Contact Synchronization

For any­one that uses Act! to man­age con­tacts, the soft­ware is fan­tas­tic.  The largest draw­back for our use has been the poor abil­ity to syn­chro­nize with microsoft out­look.  Most soft­ware we have found to accom­plish this is either stand­alone or inte­grates into Act!  Well, we recently found some soft­ware that installs as an Out­look add-in and this soft­ware is not only flex­i­ble, but very fast  » Read more about Act! Con­tact Synchronization »

© 2010, david.knoble
by David Kno­ble, CPA, PLLC
Serv­ing Non-Profits, Busi­nesses & Indi­vid­u­als
Rock Hill, SC

Make Sure Your Charitable Contributions are Deductible

We all have char­i­ties that we con­tribute to.  How­ever, did you know that with­out proper doc­u­men­ta­tion, the IRS can dis­al­low your con­tri­bu­tion even from a rec­og­nized char­ity?  There are a few guide­lines to be sure get fol­lowed when mak­ing con­tri­bu­tions.  If you find a char­ity you sup­port does not fol­low these guide­lines, then let them know what changes they should make.  Below are the most fre­quently missed requirements.

 » Read more about Make Sure Your Char­i­ta­ble Con­tri­bu­tions are Deductible »

© 2009, david.knoble
by David Kno­ble, CPA, PLLC
Serv­ing Non-Profits, Busi­nesses & Indi­vid­u­als
Rock Hill, SC

Don't Forget To Write Your Mileage!

Many small busi­ness own­ers know that auto expenses are deductible, but many hate the record keep­ing nec­es­sary in order to get the deduc­tion.  What if your deduc­tion was twice as large?  Would the record keep­ing bother you as much?  Let’s com­pare the two options and we’ll show you how easy it is to get a siz­able deduc­tion when dri­ving for your busi­ness.  » Read more about Don’t For­get To Write Your Mileage! »

© 2009, david.knoble
by David Kno­ble, CPA, PLLC
Serv­ing Non-Profits, Busi­nesses & Indi­vid­u­als
Rock Hill, SC

Is Your Small Business a C-Corporation?

C-Corporations are typ­i­cally reserved for larger, multi-owner com­pa­nies.  Pub­lic com­pa­nies are almost always C-Corporations and for good rea­sons.  How­ever, a small busi­ness fre­quently has more tax advan­tages as an LLC, Part­ner­ship or an S-Corporation.  That being said, now may be a good time to move away from your C-Corporation struc­ture.  » Read more about Is Your Small Busi­ness a C-Corporation? »

© 2009, david.knoble
by David Kno­ble, CPA, PLLC
Serv­ing Non-Profits, Busi­nesses & Indi­vid­u­als
Rock Hill, SC

Alternative Personal Notes

I am a HUGE fan of the per­sonal, hand­writ­ten note.  I believe that the time taken for any note that is hand­writ­ten shows the recip­i­ent how impor­tant they are.  While my opin­ion hasn’t changed, I have found a ser­vice that I may use to replace some of my typed and hand­writ­ten notes.

Imag­ine receiv­ing an … → Read More: Alter­na­tive Per­sonal Notes

Low Cost Time & Expense Management

Does your busi­ness revolve around track­ing time and billing cus­tomers for that time?  Do you pro­vide ser­vice?  War­ranty calls?  Research?  Any busi­ness that needs to track the time spent and bill for that time may find this web­site use­ful.  Appar­ently a group has got­ten together and cre­ated an online time and expense tracker (Note:  time and expense is fre­quently referred to as ‘T&E’).  The best part about this group is that their ser­vice is FREE!  » Read more about Low Cost Time & Expense Management »

© 2009, david.knoble
by David Kno­ble, CPA, PLLC
Serv­ing Non-Profits, Busi­nesses & Indi­vid­u­als
Rock Hill, SC

Why Set Goals?

Another great con­cept in  my read­ing that I have real-life expe­ri­ence with is the result of goal set­ting.  Many texts will tell you to set goals and then mea­sure them reli­giously against what actu­ally hap­pens to see where you are.  In account­ing terms this is bud­get ver­sus actual and there is cer­tainly ben­e­fit in pro­duc­ing finan­cial data using this method.  How­ever, there are other under­ly­ing issues that cause the goal set­ting process to ben­e­fit your busi­ness and your life.  » Read more about Why Set Goals? »

© 2009, david.knoble
by David Kno­ble, CPA, PLLC
Serv­ing Non-Profits, Busi­nesses & Indi­vid­u­als
Rock Hill, SC