USTaxAid Services

I reviewed a return for a prospective client this past week (as part of our FREE! CPA Tax Review program).  First of all, his cover letter was touching.  He’d had a very hard year, like many of you have.  He’d lost his house in a short sell, but barely managed to hang on to his ...

Occasionally a new client will ask me if they can continue to use their old tax preparer for their personal return (while my firm does all the business returns). I’m never a fan of the idea, but until this past week I didn’t realize how much of a problem it could be. In this particular ...

There is a 5 cycle lifecycle with businesses. Some businesses may skip one step, or pass through it very quickly, and some businesses, just like people, never really grow up and remain happily small and hands on. As the business progresses through each of these stages, the business structures must change too. Many CPAs are ...

I once did a piece called “The Case Against 401(k) Plans” that went viral.  I wrote it 6 years ago and my main issues (at the time) were that (1) 401(k) plans locked you into only a few investment options (2) a 401(k) plan converted capital gains income into ordinary income and (3) a 401(k) ...

The Smiths (not their real name) own businesses in multiple locations and own the buildings that the businesses are in as well. That’s a smart wealth-building strategy. In fact, in today’s tax world that’s about the only way you’re going to get good deductions for your real estate. Their previous CPA had them set up ...