Employee Spotlight: Dylan Boss, CPA, Senior Tax Manager
Dylan Boss was proud when he got his first nameplate at ADKF in 2011. At the time he was just an administrative intern with the sole responsibility to scan in client documents into the system. Over the past nine years, he has taken on more responsibilities and his nameplate has changed. He moved from the […]
Emergency Funds
The COVID-19 pandemic provided a heightened awareness for the need to have an emergency fund. Because cash flow is key to survival, the government rushed to boost unemployment benefits and provide loans for businesses. Now, as we recover from the COVID-19 crisis and rebuild financially, one of your top priorities should be to build or […]
Preserving Your Family’s Wealth
Many individuals spend their lives working hard to accumulate wealth to provide for their family and pass on their wealth to future generations. Without careful and thorough estate planning, your accumulated wealth given to your heirs could be substantially reduced due to estate and gift tax. Active planning should be taken to ensure this wealth […]
Client Spotlight: Comet Signs
At ADKF, we pride ourselves on the relationships we develop with our clients. We grow with them and are proud of our clients, their accomplishments, and being their trusted advisors. Because of how important our clients are to us, we want to share their stories. Comet Signs became an ADKF tax and audit client in […]
July 2020 Question and Answer
Question #1: I have a couple side gigs and my only bookkeeping record is my checking account and charge cards. Where do I start to make tax preparation easier? Answer #1: With the higher standard deduction, it may or may not make sense to track expenses for the purpose of tax deductions. You can track […]
Getting Back To Business
On average, only 40 to 60 percent of businesses recover after a disaster, according to FEMA. That is why having a disaster recovery and business continuity plan at the ready is so important. If you don’t have written plans to help you get back to business after the recent shutdown, take notes so you can […]
Do You Need Professional Representation for an IRS Audit?
When going through the mail you see an envelope with the return address of the Internal Revenue Service (IRS), your heart sinks and you begin to panic as you realize you have been selected for audit. Remember, you have taxpayer rights which include the right to representation. In the Taxpayer Bill of Rights, #9, The […]
2019 Tax Filing Deadline Extended
In order to help businesses and individuals cope with the fallout of the COVID-19 crisis, the IRS extended the 2019 federal tax filing deadline from April 15 to July 15, 2020. The extension also applies to 2019 traditional IRA and ROTH IRA contributions. Payment of 2020 first and second quarters’ estimated taxes is also postponed […]
CARES Act Retirement Account Provisions | UPDATE
INTRODUCTION This is an update to an article published on June 26th, 2020 on our website, titled CARES Act Retirement Account Provisions. EARLY WITHDRAWALS The CARES Act provided relief for penalties assessed on early withdrawals from retirement accounts. Eligible plan participants were able take an early distribution of up to $100,000 without incurring the […]
Should You Refinance Your Mortgage?
Refinancing your mortgage could result in a lower monthly payment, especially with interest rates at a near historic low. Here’s what to consider before you decide: Rule of Thumb It usually makes sense to refinance if you can save 75 basis points, but consider the whole package, including points paid and closing costs. Job Stability […]