Solberger & Smith, LLP

10/25/2024

When I am speaking about God to other people and I ask them if they hear from God most the time I get a blank stare, which means they do not. I can explain to them that you have to know what you’re looking for and you have to actively look for it. Then you have to not say “no” to that small urge. I am attaching a page out of my walking and grace devotional that I read every morning to help me get my joy. Some days, I have a hard time getting through the day without things trying to steal my joy. On those days I have to reach out and ask for God’s help me keep people from taking my joy because I cannot do it on my own. If I think I am too busy then I will have a very bad day. Think about your walk with God. 

03/31/2017

We just sent out our March/April Newsletter email. If you missed the email you can still check out the Newsletter here: https://www.solbergersmith.com/resources/newsletter/

Our newsletter is full of tips, reminders and timely advice to help you a stay well-informed when it comes to your business and personal finances.

02/20/2017

If we have ever helped you with your QuickBooks, we would love for you to leave us reviews on our QuickBooks ProAdvisor Profiles. The links are below:

Donna's ProAdvisor Profile: http://proadvisor.intuit.com/app/accountant/search?searchId=donna-smith-3

Karen's ProAdvisor Profile: http://proadvisor.intuit.com/app/accountant/search?searchId=karen-gieger

Tad's ProAdvisor Profile: http://proadvisor.intuit.com/app/accountant/search?searchId=tad-borowski

01/18/2017

It's almost tax season! Which is crazy season for us and a season of scams for everyone. If you feel uncertain about any phone calls, emails, or mail you receive regarding tax matters, do not hesitate to call us. A few minutes on the phone with your CPA can save you a lot of stress.

01/10/2017

We recently sent out our January/February Newsletter. If you missed the email, you can still read the newsletter on our website:

https://www.solbergersmith.com/resources/newsletter/

Check out these articles:

10 Things to Do With a Bonus or Other Windfall (Page 3)
Tax Tips for New Parents (Page 12)
Social Security Tips (Page 14)

12/31/2016

Tax Tip from Jack: Don't believe this scam!

http://www.stockgumshoe.com/reviews/oxford-club/whats-oxford-clubs-42-4-billion-consumer-rebate-program/

Irregulars Quick Take Paid members get a quick summary of the stocks teased and our thoughts here. Join as a Stock Gumshoe Irregular today (already a member? Log in) Ed note: this article was published in mid-March, but readers continue to ask about it so we’re re-posting this teaser solution for yo...

12/29/2016

These are your final two tips for your year-end financial planning. Feel free to contact us if you want any more information (See tip #11).

10. IRA Distributions: If you turned 70 ½ in the past year happy birthday! Also, you must now start making the minimum distribution from your traditional IRA (this does not apply to Roth IRAs) by April 1st. Failure to do so results in a 50% excise tax on your minimum distribution amount. If you’ve been getting distributions from your IRA for a while now, make sure that you are getting the right amount.
11. Contact Your CPA: This is probably the best tip on here! We are always happy to talk to you and help you in any way we can. If you are confused about any of these tips, concerned about your taxes next year, or simply want to talk about your financial future we are the nerds that live, eat, and breathe that stuff (and actually enjoy it!). So please do not hesitate to give us a call or send us an email. We are here to help you.

12/28/2016

The accountant mentioned in the picture below was obviously not from Solberger & Smith. We have plan. Contact us and we will make one just for you! In the meantime, enjoy the laugh and check out today's tax tips:

8. Kiddie Tax: The kiddie tax was imposed to prevent parents from shifting investment income to their kids. For 2016, any dependent child’s investment income over $2,100 is taxed at the parent’s tax rate. This applies to children under 19 years old or full-time students under 24 years old. If the child’s unearned income exceeds the $2,100 amount they will pay the normal 15% tax on the gains instead of the 0% rate that applies to most children.
9. Flexible Spending Accounts: Also known as flex plans, these special accounts set up by employers are an option for employees to set money aside to pay childcare or medical expenses in the future. If you have one, it must all be used by the end of the year or whatever remains is lost. Some employers have a grace period with the IRS that allows employees to use their 2016 flex accounts as late as March 15, 2017. Check with your employer to find out about your flex account.

12/27/2016

We hope you all had a great Christmas! In order to get these tips to you in time we are going to give you two a day! Here are tips 6 & 7.

6. Property Tax: Pay your property tax early. If you pay it sooner, not only is it already out of the way and taken care of, but you also get to deduct it in 2016.
7. Capital Losses: If you’re selling investments because they’ve earned all they can, consider selling some of the investments that aren’t earning. If you lose money on investments you can count it against money you earn on investments. If you have enough losses to cover your gains then you don’t pay taxes on it and you suddenly increased your Christmas spending budget. Furthermore, if you have lots of bad investments to sell off, you can use up to $3,000 in excess losses as an extra deduction over and above what you deduct from your capital gains.

12/24/2016

Merry Christmas Eve! Here's tip #5

Estimated Taxes: If you pay quarterly estimates the same rule for prepaying property taxes applies. You can pay your state estimate by December 31st and deduct it in the current year.

12/23/2016

#4 - Your fourth tax tip for year-end planning

Go to the doctor: You know that trip to the doctor’s office you’ve been wanting to make, but just haven’t found the time? Me neither; I avoid the hospital if I can. However, medical expenses can be deducted from your taxable income. Also, if you have doctor or other medical bills you have not paid yet, put them on a credit card. Even if you do not pay the credit card off before the end of the year, the expense is now deductible.

12/22/2016

#3
Donations: If you have items lying around the house, collecting dust, and not being used, donate them to a local charity. Make a list of what you are giving (I take a picture as well) and make sure you get a receipt to attach to the list so you can deduct the donation from your income. Alternatively, you can make a cash donation to your church or favorite charity. Just make sure you document each donation with receipts, because the old rule that you only had to have receipts to back up contributions of $250 or more, is long gone.