Keith Boyer CPA's Blog

Topics and tips about accounting, taxes, business to personal finance and more!

Cloud Accounting with Keith Boyer, CPA LLC

We have recently adopted using a cloud-based portal called Smart Vault which gives our clients easy access to their documents. Smart Vault essentially serves as an electronic filing cabinet for all of our client data.  I remember the days when a whole room used to occupy paper files of client data. Technology has enabled us to go paper-free and become more efficient with transferring client documents.    Whether you filed your tax return by the April deadline or you filed for an extension, you may be overwhelmed by the amount of documentation involved. With my firm, you will receive very little paper documentation unless requested. We are finding that most millennials don’t like any paper at all!  With that being said, it’s a great time to take a look at your records for previous tax years to see what you can purge. Consider the statute of limitations At a minimum, keep tax records for...
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Solar and other energy-efficient tax credits

Part of the Bipartisan Budget Act that was passed earlier this year included an extension of tax credits for energy-efficient upgrades to your home.  Here are some of  the home improvements that qualify for a tax credit. Remember, these are tax credits, not tax deductions. In other words, you are actually receiving the full dollar for dol...
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IRS Correspondence? No problem. We get the job done!

I am pleased to announce we were able to get approximately $40,000 in late filing and late penalties abated for a client, a process which took nearly 18 months. Carefully articulating the circumstances, getting the taxpayer current, and patiently working the IRS, paid off. We have had great success throughout the years handling tax collection cases...
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It an't just beans!

The tax code is often difficult to interpret and apply to client situations. We recently had a situation where conflicting information on a client's Schedule K-1 led to differences of opinion as to taxation related to the Affordable Care Act (the Net Investment Income Tax). Our tax research, with a little help from the tax  preparer of the K-1...
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