We specialize in bookkeeping, payroll, income tax return preparation, and retirement planning, and serve a nationwide clientele consisting of individuals and businesses of all types and sizes (LLC, partnerships, C & S Corporations), as well as trusts and estates. As financial problem solvers, we provide practical advice and proactive solutions with personalized service. We are affordable, experienced, and friendly, and we tirelessly study and research the ever-changing world of tax law and regulation so that we can help every client realize the greatest possible savings and return on investments. Our office is conveniently located in Dover, Delaware. Please contact us today to find out more about how we can make YOUR life less taxing!Tax
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Now that the "extension" deadline is in the rearview mirror, it's time to take seriously the shortness of the days ahead.
There are only 2.5 more months (less!) to make any tax-saving moves, so give us a call. We can help you be proactive and decide which moves to make.
“Enjoy the little things, for one day you may look back and realize they were the big things.”
- Robert Brault
What little things are you thankful for today?
When creating an accountable plan for the IRS to keep track of reimbursements, you want your deductions to hold up to scrutiny (avoid that audit).
So, it’s a good idea to know what the plan should include:
1. Write it out. It makes everything clear to everybody in your company – and the IRS respects paper.
2. Cover how much time your employees have to submit expenses; how they ask for reimbursement, including what documents are needed; what you’ll reimburse them for; the max that you’ll reimburse; and when employees should give back leftover reimbursement money.
3. Make it crystal clear how the expenses relate to your business.
4. Expenses have to be substantiated in what’s called “a reasonable period,” AND your employee has to give back any expenses money they don’t spend in “a reasonable period.”
The point is, don’t guess. Keep everything, take no chances, and just document, document, document.
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First State CPAs & Associates |
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970 N State St, Dover, DE 19901 |
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| (302) 736-6657 | |
| Business Hours | |
| January 1st April 15th | |
| Monday–Friday: | 8am–5pm |
| Saturday & Sunday: | closed |
| April 16th December 31st | |
| Monday–Thursday: | 8am–5pm |
| Friday, Saturday & Sunday: | closed |