October 2019 Q and A
QUESTION: I own a small business, but Im required to give my personal social security number when I apply for business credit. Do I need to know my business credit score, too? ANSWER: It cant hurt. Many small business owners receive credit based primarily on their personal credit strength, but building a business credit rating […]
More Go Solo
More than 25.5 million taxpayers who filed individual 2016 income tax returns reported non-farm sole proprietorship activity. Thats a 1.2% increase from 2015. Total profits from non-farm sole proprietorships decreased 2.4% during this time, although total profits as a percentage of business receipts were 23.1%, the second-highest level in this data series that began in […]
Audits For Private Companies
Publicly traded companies are used to undergoing financial audits its a requirement for most of them but privately held companies can generally keep their finances private. However, lenders and some insurance companies may require you to have an audit performed. And, in any event, an audit can help owners pinpoint problem areas and […]
Is FIRE Right for You?
A relatively old idea with a new name is gaining increased interest among Millennials. Proponents of FIRE Financial Independence, Retire Early work toward early retirement by reducing spending during their working lives to build the funds needed for future financial freedom. While this austere, strict saving philosophy may not be for everyone, some […]
Tax Issues in Divorce
Divorce is emotionally painful, and it can also hurt financially. From splitting retirement and other assets to negotiating child and spousal support, there are tax and financial landmines that forethought and planning can help you avoid. RETIREMENT ASSETS Retirement plans are often a source of disagreement in divorces. When proper procedures are followed, the transfer […]
Reducing Taxable Income from Your Rental Property
In December of 2017, the Tax Cuts and Jobs Act was signed into law, which created IRS code section 199A, the Qualified Business Income Deduction. While the details of the code are inexhaustible, for our purpose it is only important to understand the basic nature of the 199A deduction. In a sentence, the 199A deduction […]
Funlympics
ADKF Funlympics ADKF had the opportunity to volunteer for San Antonios CPA Societys (SACPSAS) largest and longest-running community service event Funlympics! For the past 36 years, the SACPAS has gathered school supplies and backpacks for children in need, provided them with a half-day of friendly competition through games and activities, ending with a cook-out. […]
ADKF Names Managing Partner & COO
FOR IMMEDIATE RELEASE: JULY 1, 2019 AKIN, DOHERTY, KLEIN & FEUGE, P.C., NAMES MANAGING PARTNER AND COO New leadership will continue the firms mission of providing superior client service. SAN ANTONIO, TEXAS- Akin, Doherty, Klein & Feuge, P.C. (ADKF) announced on, Monday, July 1, 2019, two new leadership positions. Scott C. Kopecky, CPA, has been […]
Summer Promotion Season
Akin, Doherty, Klein & Feuge is excited to announce promotions for the 2019 Summer Promotion Season. Please help us congratulate them for their efforts. Tax Department Promotions: Elaine Marquez De La Cruz to Tax Senior and Leslie Harris to Tax Senior Audit Department Promotions: Barbara Aguilar, CPA to Audit Senior Thanks to each of you […]
Buying or Selling Your Home?
November 2018 Boerne Business Monthly Article written by Austin Lee, CPA, Tax Senior at ADKF, Certified Public Accountants Diving in the lake; floating the river; cooling off with a snow cone on a park bench; laying under the stars while listening to the cicadas tune; this is summer in Texas. In one of the fastest-growing […]