CMP, Utah CPA Firm

10/07/2026

High earners: proactive tax planning can make a big difference. Strategies like retirement contributions, HSAs, and year-round planning may help reduce your tax burden and keep you on track toward your financial goals.

10/04/2026

Does it feel like making more money just means paying more in taxes?

You’re not imagining it—but you’re also not out of options.

We just shared a new blog outlining 11 smart ways high earners can reduce taxable income in 2026, without relying on risky moves.

Inside, you’ll learn:

✔️ How retirement and health accounts reduce taxable income
✔️ Why income timing plays a bigger role as earnings grow
✔️ Practical ways to lower taxes responsibly
✔️ When to bring a CPA into the conversation

We just shared a new blog outlining 11 smart ways high earners can reduce taxable income in 2026 without relying on risky moves.

If your income is higher than it used to be, this is worth a look.

10/03/2026

Got an IRS letter about your R&D tax credit? 📬 Don't panic, and don't start sending documents yet.

An audit does not automatically mean the credit will be denied. It does mean you need to show how your research and your expenses connect.

Here's where to start:

✔️ Read the notice for the tax year, the issues listed, and the response deadline
✔️ Ask your team not to delete project files, emails, or time records
✔️ Pull the filed return, Form 6765, and the original R&D study
✔️ Organize your records by project, employee, and expense
✔️ Never backdate or create records that didn't exist

Filing an extended return with an R&D claim this October? It's a good time to check that the support is there too.

👉 See the full post below.

Learn what to do after an R&D tax credit audit notice, which records to gather, how to organize support, and when specialist help may be useful.

10/02/2026

Filed an extension this year? The October 15 deadline is almost here. ⏰

Before you file, it's worth a second look at your R&D tax credit claim. The last-minute rush is exactly when these mistakes slip through:

✔️ Documentation pulled together from memory instead of real records
✔️ Wages claimed by job title instead of actual time on research
✔️ Research a client paid for and now owns
✔️ Form 6765 Section G left vague or incomplete
✔️ Claiming routine work that was never really experimentation

An overstated claim can trigger an exam and penalties of up to 20%. A few minutes of review now beats explaining it to the IRS later.

👉 See the full post in the comments below.

09/30/2026

Don't wait until tax season to think about taxes.

Now is the perfect time to review your income, maximize deductions, and make year-end tax planning decisions while there's still time to make an impact.

A little planning now can help reduce surprises later. Contact CMP to start your year-end tax planning today.

09/23/2026

Meet Bob!

For 28 years, Bob has helped build lasting client relationships while living out CMP’s mission of making a difference in people’s lives. He loves seeing that commitment reflected in both our team culture and the trust we've built with clients over the years.

Outside of work, Bob enjoys spending time with family and staying active outdoors.

09/21/2026

Do you really need to keep receipts for your taxes? 🧾

The short answer: if you claim deductions, you should.

You don’t submit receipts with your tax return, but you do need to keep them in case the IRS asks for proof.

We just published a blog explaining:

✔️ What receipts you should keep for taxes
✔️ Whether digital receipts count
✔️ When bank and credit card statements help (and when they don’t)
✔️ What business owners need to document carefully
✔️ How long you should keep your tax records

Good recordkeeping can make tax season much easier.

👉 Read the full post in the comments below!

09/18/2026

Bonding capacity isn’t just about meeting requirements—it directly affects how much work you can take on and which jobs you can pursue.

Our latest blog walks through how a CPA financial statement review can help contractors strengthen financial credibility and improve bonding capacity without the cost of a full audit.

Inside the article, you’ll learn:

✔️ What bonding companies look for in financial statements
✔️ Why compilations may not be enough
✔️ How accrual-basis reporting impacts bonding decisions
✔️ How better reporting supports long-term growth

If bonding is part of your business strategy, this is worth a read.

👉 Full post linked in the comments

09/14/2026

A lender or investor asking for "financial statements"? 🤔

Not all financial statements are the same, and agreeing to the wrong level can cost you time and money.

Here's the quick difference:

✔️ Compilation: your numbers in proper format, no assurance. Fastest and lowest cost.
✔️ Review: limited assurance through CPA inquiries and analysis. Often enough for a lender.
✔️ Audit: reasonable assurance through detailed testing. The highest level of confidence for investors, banks, and boards.

The right choice comes down to who is reading your statements and what they require. Heading into year-end is the time to confirm it.

👉 See the full post in the comments below.

09/13/2026

If you’re married, one tax decision can affect both of you. 💰

Choosing between married filing jointly and married filing separately can impact your deductions, credits, and even your legal responsibility for the tax owed.

Our latest blog breaks down how each option works and when it might make sense to choose one over the other.

In the post, you’ll learn:

✔️ Why joint filing works best for many couples
✔️ When filing separately may make sense
✔️ How tax credits and deductions change depending on your filing status
✔️ A simple way to compare both options

Taxes can get complicated when two incomes and finances are involved. Understanding your filing options can help you avoid surprises.

👉 Read the full post in the comments below!