Keith Boyer CPA's Blog

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

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IRS Provides Tax Relief for Hurricane Florence Victims

The aftermath of Hurricane Florence has left many with no power, flooding, and devastating damage to homes and entire towns throughout the Carolina's. As victims work to recover from the damage, the IRS has granted those affected with an additional extension to file their tax returns and make certain tax payments. What are the terms & condition...
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President Trump is forgiving student loans indebtedness

STUDENT LOAN FORGIVENESS CHANGES UNDER PRESIDENT TRUMP:DO YOU QUALIFY? President Trump's Tax Cuts and Jobs Act implemented a number of changes, including alterations that affect student loan borrowers. Here's what you need to know about how the new act modifies student loan discharge: ​What Changes were made? As of January 1st, 2018, Death and Disa...
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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 limitationsAt a minimum, keep tax records for as long as the...
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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 dolla...
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