Todd Mizer – Page 2 – Rea CPA
Author
Jul 9, 2013
Blog

Understanding the Importance of GAAP

You’ve probably heard the phrase “It’s Greek to me,” or maybe you’ve even used it. The meaning is generally obvious, but why do we say this? It may be a direct translation of a similar phrase in Latin: “Graecum est; non legitur” (“it is Greek, [therefore] it cannot be read”). The accounting profession must have … Continued
Author
Apr 11, 2013
Blog

How Much Information Should You Give the IRS?

“More is better than less because if stuff is not less, if there’s more less stuff, then you might, you might want to have some more. And, your parents just don’t let you because there’s only a little bit. We want more. We want more. Like, you really like it, you want more.” I love … Continued
Author
Feb 13, 2013
Blog

Old MacDonald Had a Farm… and Income… and Loss

Most people have become pretty familiar with the concept of long-term capital gains (and for the past few years, qualified dividend income) and how they are subject to favorable federal income tax treatment compared to other types of income. But many people have a hard time grasping how different types of activities can impact the … Continued
Author
Aug 15, 2012
Blog

What’s Worse: an IRS Audit or a Root Canal?

Going to the dentist and dealing with taxes are two things most people don’t really look forward to. And, like being informed that you need a root canal, the news of an audit is usually met with anxiety. However, audits are part of the reality of our system; they’re a prudent IRS process, meant to … Continued
Author
Jan 15, 2011
Blog

Big Little Ideas

Do you know what you can do to improve your business? Have you ever sat down and asked yourself that very question? You should. Revenue growth will remain a problem for many businesses throughout 2011. Focus on efficiency. Keep your sales team trained and ready. Tighten expenses even more. But you may find that taking … Continued
Author
Aug 29, 2007
Blog

Don’t Forget About Your IRA

Are you temporarily in a low income situation? Are you over 59 ½, and do you have an IRA? If you can answer “yes” to all of these questions, you may want to consider taking distributions from your IRA even if you don’t currently need the money. The standard deduction for married individuals is $10,700 … Continued
Author
Aug 22, 2007
Blog

Gain Control of Your Business

As we approach the end of summer, now is the perfect time for small businesses to organize their finances and streamline business processes for the coming months. In today’s busy workplace, owners and managers can become so bogged down with day-to-day activities that long-term plans and best business practices are swept into the corner and … Continued
Author
Nov 1, 2006
Blog

QuickBooks

Chances are, you are affiliated with one of the millions of small businesses that now use QuickBooks as its accounting software. The program was originally touted as an inexpensive way to handle complete accounting needs of businesses, and has been greatly developed and improved over the years from its origin as a glorified electronic checkbook. … Continued
Author
Jun 14, 2006
Blog

Use the Right Financing

Small business owners often resist the idea of borrowing for their businesses. If they do borrow, they usually want to pay it off as quickly as possible. While the notion of being debt-free is noble, and generally a legitimate goal for our personal finances, the proper use of debt in your business is usually a … Continued
Author
Sep 1, 2005
Blog

Team Development

One of the most important characteristics of a successful organization is the ability to develop, organize and maintain a team that can overcome the challenges of today’s ever-changing business world. A business is usually started with a dream and the focus of one or two individuals. But in order for it to reach its full … Continued