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News & Press

10 / 03 / 2018 by Greg Freyman, CPA in News & Press

Rental Real Estate and The New Tax Law: Final Regulations 2019

If you have a topic of interest you would like to see us cover, feel free to reach out and let us know; we are always happy to hear your thoughts, ideas, and feedback.

“The purpose of a tax cut is to leave more money where it belongs: in the hands of the working men and working women who earned it in the first place.”
~ Bob Dole

 

This tax blog specifically deals with how the new tax law affects the rental of real estate as an activity.

On January 18, 2019, the IRS released the final regulations for section 199A via Notice 2019-7.

If you have not heard of section 199A by now, you most certainly will very soon. This new addition to the tax law will be around until December 31, 2025.

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25 / 11 / 2017 by Greg Freyman, CPA in General, News & Press

How to Succeed in Any Business – Part 3

“You must pay taxes. But there’s no law that says you gotta leave a tip.”
~ Morgan Stanley advertisement

To catch up to part three, see parts 1 and 2 on how to succeed in any business.

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25 / 08 / 2017 by Greg Freyman, CPA in General, News & Press

How to Succeed in Any Business – Part 2

“Those who cannot learn from history are doomed to repeat it.”
~ George Santayana

As promised, we are back, and talking about your favorite subject – how to succeed in any business from a financial perspective. No one said this would be easy, but believe me, a bit of work, some discipline, and you will have financially less stress to deal with in your business.
Here are some more suggestions for what you should put into the works in your business, as of yesterday. If you are not doing the following in your business, you are probably not going to meet your true potential and are doing yourself a disservice.

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29 / 07 / 2017 by Greg Freyman, CPA in General, News & Press

How to Succeed in Any Business – Part 1: A Tale of Two Barbers

We all must suffer one of two things: the pain of discipline or the pain of regret and disappointment. What we must understand however is that regret and disappointment hurt far worse than discipline.
~ Jim Rohn

This is a tale of two barbers, one on our corner and one across the street. Both know their craft and do a magnificent job in cutting hair. One has been in business for many years, and the other opened shop more recently, but has also been in business for quite some time.

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2016 Year-End Update for Individuals

It’s already December. Before long, it will be 2017, but we’ll all still accidentally write 2016. The start of a new year often brings tax changes, and with a new President in 2017, it is likely that there will be even more changes than usual. This article covers 2016 year-end update for individuals. What can we expect for next year?

Actually, most of the tax changes set for 2017 relate to businesses, and there aren’t that many for individuals. Most of the changes from 2016 simply relate either to amounts that have been indexed for inflation, or to tax benefits that are set to expire in 2016. We’ll cover some of the changes that may impact you for 2017 and beyond.

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2016 Year-End Update for Businesses

This blog post covers 2016 year-end update for businesses. With the start of 2017 quickly approaching, a slew of changes is upon us. The new year often brings tax changes, and with a new president in 2017 there is already talk of overhaul of the tax code. While we will briefly discuss some speculative changes for 2017, most of the changes discussed below have already been approved by Congress and will be in effect for 2017.

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07 / 11 / 2016 by Angela Freyman in News & Press

Pre-election Candidates’ Tax Plans Summary

elections polling stationIn the past few weeks, you’ve likely been inundated with pre-recorded phone calls, unsolicited opinions on Facebook, and a mailbox full of political flyers. With the presidential election looming, what effect will our decision have on taxes? Every candidate always makes campaign promises related to taxes, whether it’s closing loopholes, lowering tax rates, or completely overhauling the tax system. While it’s hard to say whether a candidate will be able to successfully follow through with these promises, we can, at the very least, attempt to compare the positions that they’ve taken during this campaign cycle. Let us briefly review the candidates’ tax plans.

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17 / 10 / 2016 by Greg Freyman, CPA in News & Press

What to Consider When Hiring a CPA

NOTE: This is a reprint of the article Greg Freyman wrote for Angie’s List.

 

Consider three criteria before hiring a CPA to file personal or business tax returns.

cpa laptopMaybe you’ve always completed your business returns by hand, or maybe you’ve used off-the-shelf tax preparation software to file your personal taxes. However, when your tax situation becomes too complicated for you to handle, it’s best to call a certified public accountant. How do you know what to look for, though?

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Tax Scams – What to Look Out For

As a reminder during this tax season as well as throughout the year, it is important to keep in mind that the IRS will not contact you by phone or e-mail regarding tax liens or outstanding tax liabilities.  The IRS has strict protocols when contacting taxpayers regarding tax deficiencies, with letters of correspondence being their official method of first contact.

Phone key pad

How to identify a tax scam:

  • Demands immediate payment; extreme urgency to receive payments
  • Tries to make you pay taxes without giving you the option to research the debt or file an appeal for the amount you allegedly owe
  • Asks for payment using a credit or debit card especially over the phone
  • Threatens to arrest you for not paying

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10 / 02 / 2016 by Greg Freyman, CPA in News & Press

Value in Choosing a Professional CPA Firm

We understand that there are others in our industry that charge by the form.  At Freyman CPA, P.C., we go beyond the preparation of tax forms to find ways to reduce your tax burden and help plan for your financial future.  We take a holistic approach utilizing technology, experience, and knowledge to provide the best service for our clients.

When utilizing the services of a professional CPA firm, it is important to appreciate the values that are provided:

  • Quality: Up-to-date knowledge of the most current tax regulations to provide and ensure their clients are receiving all the tax incentives available to them based on their unique tax situation.
  • Consistency: Decades of experience in the industry
  • Guidance: Provides advice, counsel, planning, and guidance for all of your tax needs
  • Availability: Open year-round and are happy to help anytime
  • Responsibility/Peace of Mind: Knowing that the firm and its staff will be available if you should run into issues later in the year

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