Recent Blog Posts


Tax Q&A with Tom Umstattd, CPA

Sign up for this event on Meetup.Com! Tom Umstattd,CPA will be holding this Question & Answer session to answer your questions about federal income taxes, accounting, or any other tax questions you may have. If you run a growing business, this is a meetup you may not be able to afford …

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What is My Filing Status?

The below article is from the IRS. We thought it was helpful and decided to re-post it here  for your convenience. Issue Number:    IRS Tax Tip 2016-10 Inside This Issue: Choosing the Correct Filing Status It’s important to use the right filing status when you file your tax return. The status …

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Donate the clutter. Reduce your tax bill.

One man’s trash is another man’s treasure.  By Tom Umstattd, CPA There are many folks less blessed than we who would greatly appreciate the stuff in our garages & attics.  Or perhaps we have moved, lost or gained weight, or lost a beloved family member and still have some of their …

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Tax Discrimination against Car Donors

By Aaron Lerma, CPA February 10, 2016 If you’re thinking of donating your car to charity, consider the following: What’s Wrong? The organization that receives your car doesn’t usually want it; they want cash.  When they receive your car, they sell it quickly.  A quick sale generally means a bargain …

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A Section 105 Plan Can Save You Thousands

By Aaron Lerma, CPA February 10, 2016 Tax Benefits of a Section 105 Plan A Section 105 plan provides medical benefits to an employee by allowing the business to pay for the employee’s medical costs.  The payments are tax free to the employee.  They are also tax deductible by the …

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The Child Dependency Trap

By Cynthia Umstattd, June 25th, 2015 If your child claims himself on his tax return when he is still your dependent, you could be in for 9 months of tax return trouble and high CPA bills. It’s a trap!    The Problem Many young adults who are filing their own …

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