Tulsa Payroll Services | Tulsa Tax Services | Oklahoma City Tax Services

Wanted to share some of the proposed tax law changes in the President’s budget. With the current political climate, it is hard to believe that the House will accept many of these changes, but really, who knows. Anti-Business Elements Raise Federal Unemployment Tax (FUTA) wage base from $7,000 to $14,000 Elimination of the LIFO inventory… Read More

Outsourcing Payroll Makes Sense | Tulsa Payroll Services | Oklahoma City Tax Services

I know that most would think it self-promotion, but I truly believe that I would say the same thing if I were in a different industry. Processing your own company’s payroll COSTS you money. I don’t mean in the way some sales people use the phrase, but actually hard dollars you can put in the… Read More

Internet Doesn't Work | Tulsa Financial Services | Oklahoma City Tax Services

As I sit here in the middle of another unpredictable Oklahoma weather cycle, I begin to let my mind wander. After reading a story in the newspaper about one of our competitors having to survive the last snow storm, I’m wondering why small business owners are so resistant to change. I’m not belittling small business… Read More

Tax on Toilet Paper | Tulsa Tax Services | Oklahoma City Tax Services

I know that no one likes taxes, and it would be a major coup to have 100 people agree on what is the best taxation method, but we’ve truly gone through the looking glass folks. Tax Types Generally, you can tax anything or any activity, but most taxes center around the big three, real property,… Read More

ESOP | Tulsa Payroll Services | Oklahoma City Accounting

One of the critical mistakes most business owners make is the lack of a succession plan. That is, there only plan is to die in their chair. The sad truth is that many business owners leave a lot of value on the proverbial table by not planning for the EVENTUALITY that they will someday die.… Read More

EVIL SUV'S | Oklahoma City Tax Services | Tulsa Tax Services

It’s like a B-grade horror flick, The Return of the SUV. Buried in the new tax law passed in December is provision to write off 100% (you read that correctly) of heavy Sports Utility Vehicles if it is used 100% for business. A Brief History Heavy SUV’s have long qualified for the popular Section 179… Read More

Where Did That $34 Million Go | Tulsa Payroll Services | Oklahoma City Accounting

It was right here, I swear! That was what one company was left asking after their VP of Finance embezzled from her employer. Details regarding the employee’s theft from her employer, Koss Corporation, are now becoming available. The individual, with only one other collaborator, stole $34 million dollars, representing HALF of the company’s earnings, over… Read More

40% Penalty | Oklahoma City Tax Services | Tulsa Tax Services

There aren’t many penalties that large in the world, but leave it to the IRS to come up with one. There has been plenty of press about the IRS going after foreign tax evaders, putting the Swiss banks over the coals, etc, but none of that has anything to do with little old you, right?… Read More

Tulsa Tax Services | Tulsa Payroll Services | Oklahoma City Tax Services

Sometimes for the fun of it, I read Tax Court cases. In a recent case, the IRS prevailed against a taxpayer who was trying to game the system and avoid payroll taxes by taking out little salary and a lot of dividends. Just the Facts Ma’am Funny thing is this taxpayer was a CPA in… Read More

Audits & Penalties | Tulsa Financial Services | Oklahoma City Tax Services

I’ve discussed this issue before in newsletters but wanted to remind taxpayers as filing season is upon us. Buried in the tax legislation passed in 2009 were increased penalties for S-corporation and partnerships that file their tax returns late. Many taxpayers were caught by surprise when their late 2009 returns generated penalties last year. In… Read More