David E Webber LLC

06/28/2024

For self-employed business owners, claiming a home office tax deduction is an advantageous strategy; however, the IRS sets very specific requirements in order to be eligible to qualify for the deduction. Having a detailed record-keeping process is essential in ensuring a smooth home office deduction claim.

As a self-employed business owner, the prospect of claiming a home office tax deduction can significantly impact your bottom line. Understanding the criteria for eligibility is crucial for optimizing this deduction and reducing your taxable income. In this blog post, we'll explore who can claim a ho...

06/26/2024

Estate tax is a tax collected by the federal government upon the estate of a deceased person. The federal government allows for certain exclusions and deductions, then taxes a set level. In addition to the federal estate tax, several states have a state estate or inheritance tax. We keep your finances in order so you can continue focusing on what you love! Call us at (505) 907-0166 to schedule a consultation.

06/25/2024

A business’s cash flow indicates liquidity—how much money there is to immediately pay expenses, and having consistent cash flow is a key sign of a successful business. Small business owners can create a cash flow statement to gauge the timing of money coming in vs. going out. Some ways to improve cash flow include: building in margin of error in cash flow projections, creating cash reserves for when flow fluctuates, and adjusting customer or supplier payment terms. Looking for assistance with your business accounting? Give us a call today at (505) 907-0166

06/24/2024

There are multiple factors that can contribute to your credit card limit. Income, debt-to-income, credit history, type of credit card and even your limit on other cards all play a role in the determination of your credit card limit. We keep your finances in order so you can continue focusing on what you love! Call us at (505) 907-0166 to schedule a consultation.

06/21/2024

Working in a foreign country comes with its own set of challenges and tax implications. Before jet-setting across the globe, there are some important factors you should consider regarding your international tax responsibilities.

Embarking on a journey to work in a foreign country is an exciting and rewarding opportunity, but it comes with its own set of challenges and considerations, especially when it comes to international tax implications. Before you pack your bags and head overseas for work, here are several important t...

06/19/2024

If you're a first-time business owner, we recommend setting up a separate business bank account to avoid mixing your personal funds and business transactions. Doing so will help with organization and decrease the chance of legal liability from business debts. We also recommend getting a separate business credit card for business expenses. Using one can help with establishing a business credit score while ensuring that your personal credit score is not affected by your business’s finances. Have questions about how to set your business finances up for success? Contact us today at (505) 907-0166.

06/18/2024

Life gets stressful, but we're here to make your bookkeeping a breeze. Contact us today at (505) 907-0166 for more information about our services.

06/17/2024

Setting short-term financial goals as well as mid-term and long-term ones are important steps toward becoming financially secure. If you aren’t working toward anything specific, you’re likely to spend more than you should. Key short-term goals include setting a budget, reducing debt, and starting an emergency fund. Medium-term goals should include key insurance policies while long-term goals need to be focused on retirement. We keep your finances in order so you can continue focusing on what you love! Call us at (505) 907-0166 to schedule a consultation.

06/14/2024

The inheritance you leave your family can set the tone of your loved ones’ financial situation for generations to come. When planning your estate and administering a trust, there are complexities you must navigate through to ensure that your wishes are carried out as you intend. Careful planning and understanding your goals are key to a successful inheritance and legacy.

Leaving behind an inheritance is more than just a financial transaction; it's a legacy that can profoundly impact the lives of your loved ones for generations to come. Whether you're planning your estate or navigating the complexities of administering a trust, there are several crucial consideration...

06/12/2024

Estate contains what an individual possesses from their real estate and vehicles to their bank accounts and stocks. If an individual dies, their estate could be subject to an estate tax - often called a "death tax." The IRS calls it a tax on your right to pass on your property at your death. You've got questions and we've got experience! Call us at (505) 907-0166.

06/11/2024

When starting your business, you'll have to choose one of two different accounting methods: cash or accrual. Cash-based accounting is typically used for small, first-time businesses where sales and expenses are recorded only at the time of payment. Accrual accounting is more complicated to cash-based accounting. Sales or expenses are recorded when they're incurred, even though the payments will begin at a later date. The accrual method encompasses a longer-term view of the business across multiple periods, and it’s the standard among larger companies and financial institutions. Take a moment to determine what you think will be fit your business, and if you need additional help with your businesses accounting - don't hesitate to call us today at (505) 907-0166!

06/10/2024

Books behind? Get caught up by contacting us at (505) 907-0166 to discuss how we can help you!