My Personal CPA and Financial Planner LLC

My Personal CPA and Financial Planner LLC CPA Firm providing affordable accounting, bookkeeping, tax preparation, financial planning services, and so much more!

Many small business owners find the concept of risk management intimidating. But essentially, it’s about identifying pot...
08/25/2026

Many small business owners find the concept of risk management intimidating. But essentially, it’s about identifying potential disruptions and making practical plans to guard against them. From cash flow slowdowns to staffing shortages, every business faces uncertainty. The key is being prepared, not overwhelmed. Call us at (808) 674-0700 for help reviewing your current risks, spotting emerging challenges, and making informed decisions that support long-term stability and growth.

Is federal tax debt blocking you from achieving your financial goals? Unresolved tax debt can lead to interest and penal...
08/24/2026

Is federal tax debt blocking you from achieving your financial goals? Unresolved tax debt can lead to interest and penalties, tax liens, asset seizures — and even the denial or revocation of your passport. These consequences can make it difficult to move forward. The good news is relief may be just a phone call away. We can assess your situation and help you find a path forward. Contact us at (808) 674-0700 to discuss your next steps.

The IRS has increased the 2026 cents-per-mile rates for calculating tax-deductible vehicle operating costs due to rising...
08/22/2026

The IRS has increased the 2026 cents-per-mile rates for calculating tax-deductible vehicle operating costs due to rising fuel costs. Effective July 1, 2026, the standard mileage rate for the business use of a car, van, pickup truck or panel truck is 76 cents per mile, up from 72.5 cents per mile for the first half of the year. The revised rate for medical and eligible moving purposes is 23.5 cents per mile, up from 20.5 cents per mile. For charitable driving, the 14 cents per mile rate remains unchanged. These rates apply to gasoline- and diesel-powered vehicles as well as electric and hybrid ones. To protect your deduction, keep detailed mileage records. Call us at (808) 674-0700 with questions.

Your business can show a profit on paper and still face cash shortages because profit and cash flow measure different th...
08/19/2026

Your business can show a profit on paper and still face cash shortages because profit and cash flow measure different things. Profit reflects revenue minus expenses, while cash flow tracks the movement of cash in and out of your business. Cash shortfalls are especially common for growing businesses. That’s because you typically must pay suppliers, vendors and lenders upfront, and then wait for customers to pay you. Understanding the difference between profit and cash flow — and how to account for each — can help you make smarter financial decisions. Contact us at (808) 674-0700 to learn strategies for improving cash flow management.

One of the easiest ways to reduce the size of your taxable estate is to take advantage of your gift tax annual exclusion...
08/18/2026

One of the easiest ways to reduce the size of your taxable estate is to take advantage of your gift tax annual exclusion. For 2026, you can transfer up to $19,000 per recipient gift-tax-free. And you can double the exclusion to $38,000 per recipient if you split the gifts with your spouse. But it’s critical to understand the rules of gift-splitting to avoid unintended tax consequences. To elect to split gifts, the spouse making the gift must file a gift tax return, and the other spouse must consent by checking a box on the return and signing it. Contact us at (808) 674-0700 for additional details.

Business owners: Should you use cash to pay federal tax debt or keep it for operational needs? Paying the IRS sooner may...
08/17/2026

Business owners: Should you use cash to pay federal tax debt or keep it for operational needs? Paying the IRS sooner may ease stress and reduce penalties, but draining cash can disrupt operations, payroll and growth. There’s no one-size-fits-all answer. In many cases, the IRS offers options — such as installment agreements, temporary collection holds or penalty relief — that may help you stay compliant while preserving cash flow. The biggest risk is choosing extremes, either depleting cash reserves or ignoring the issue. A balanced strategy often works best. Call us at (808) 674-0700. We can review your options and help you create a plan.

It’s easy to focus on the excitement of a big win. But before you spend lottery, gambling or other winnings, be sure you...
08/14/2026

It’s easy to focus on the excitement of a big win. But before you spend lottery, gambling or other winnings, be sure you understand the tax impact. Federal tax law generally treats such winnings as taxable income. Knowing the basic rules can help you avoid surprises when you file your 2026 return next year. For example, if you win more than $5,000, generally the payer (lottery agency, casino, etc.) will withhold 24% for federal tax purposes — which may or may not be enough to cover your tax liability — and send you and the IRS a Form W-2G showing the winnings paid and tax withheld. There also might be state tax consequences. Call us at (808) 674-0700 to learn more.

Applying for a business loan can feel like a catch-22. On one side of the desk is the risk-averse lender, who’s willing ...
08/12/2026

Applying for a business loan can feel like a catch-22. On one side of the desk is the risk-averse lender, who’s willing to loan money only to successful business owners. On the other side is the business owner, who needs the funds to grow and be successful! To avoid this paradox, approach a loan as a partnership rather than a provider-customer interaction. After all, if you were going into business with someone, you’d want to clearly understand their vision for the venture. Contact us at (808) 674-0700 for help effectively presenting your business plan and financials to prospective lenders.

If your trust is subject to high state income tax, you may be able to change its residence (or “situs”) to a state with ...
08/11/2026

If your trust is subject to high state income tax, you may be able to change its residence (or “situs”) to a state with low or no income taxes. Relocating a trust may offer a tax advantage if the trust is an irrevocable nongrantor trust, accumulates (rather than distributes) substantial amounts of ordinary income or capital gains, and can be moved to a state with low or no taxes on accumulated trust income. Call us at (808) 674-0700 for more information.

Are you paying yourself and family members who work in your business reasonable compensation? The IRS requires compensat...
08/10/2026

Are you paying yourself and family members who work in your business reasonable compensation? The IRS requires compensation (including salaries, bonuses and perks) to reflect services performed and be comparable to compensation for similar roles in similar organizations. This is especially important for owner-employees and related parties. Payments to relatives may be deductible, but only if they represent reasonable wages for bona fide services and are well documented. Excess compensation may be reclassified as nondeductible distributions of income, while underpaying may raise payroll tax issues. Regularly reviewing compensation practices can help reduce audit risk. Call us at (808) 674-0700 for guidance.

Address

1001 Kamokila Boulevard Suite 100
Kapolei, HI
96707

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Monday 9am - 4pm
Tuesday 9am - 4pm
Wednesday 9am - 4pm
Thursday 9am - 4pm
Friday 9am - 4pm
Saturday 9am - 5pm

Telephone

+18086740700

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