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2017 marks the 20th anniversary of Berger & O’Toole, LLC. To help us mark two decades of accounting services in the Omaha area, we have the top 20 reasons why you should be working with a Tax Accountant:

1.       You will save money! You may think you can’t afford an accountant, but consider the amount of time that tasks such as filing taxes would take if you did it on your own – time that could be better spent running your business!

2.       Risk of making mistakes on tax documents and tax returns that can be costly.

3.       An accountant will ensure that deadlines for tax filings will be met.

4.       Accountants can help with business finances and make sure you stay on track.

5.       Payroll can be completely managed by an accountant. 

6.       They can handle every aspect of bookkeeping and small business accounting. They can manage complex financial work.

7.       Hand over your bills and invoices to be paid.

8.       Can offer advice on practical business issues.

9.       Accountants know the tax laws that have changed and how they may effect you.

10.   An experienced accountant can help with business loan applications.

11.   An experienced accountant can explain the different business structures that are available and help you choose the correct one for your business.

12.   An accountant can help when you are writing your business plan so you design a realistic and successful plan.

13.   Working with an accountant as you are starting your business gives you the benefit of their expertise right from the start, setting you on a path for success.

14.    Incorporating an accounting software that can quickly produce tables and graphs will help you understand your financial situation at a glance.

15.   An accountant can help you put together a financial plan that will allow you to take advantage of tax breaks.

16.   Experienced accountants can help with retirement planning.

17.   Accountants will take advantage of all the available tax deductions.

18.   Can help you manage unexpected life changes – divorce, death, inheritance, birth of a child, etc.

19.   Track gains and losses on taxable investments

20.   Peace of mind that comes with working with an accountant is priceless!

There are many reasons to work with an accountant, and you don’t necessarily need a full-time accountant. As little as a few hours a month can put you or your business on track to being financially stable and successful.

The experienced team of accountants at Berger & O’Toole, LLC have been providing quality, trusted accounting service in the Omaha area for two decades, and we look forward to many more years. Call us today to schedule an appointment with one of our experienced accountants.

 

Tax Alerts
Tax Briefing(s)

We value the loyal, long-standing clients that we have had the pleasure of working with for many years. Kevin Malick of Appreciated Advertising is one of those clients, and he recently shared some thoughts on his experience of working with us for nearly a decade.


Working for home can have many benefits, and while it may not be for everyone, many employees prefer a home office over a commute to a traditional office. According to Global Workplace Analytics, regular work-at-home employment among the non-self-employed population has increased 100% since 2005.


One thing we hear all the time from small business owners is that they never expected all the paperwork! Budgets, payroll, tax forms – it can all be very overwhelming! The Bookkeeping Company can help you wade through all the paperwork, and determine if you need the help of a bookkeeper or if an accountant is what you need.


According to Webster’s Dictionary, an entrepreneur is a person who starts a business and is willing to risk loss in order to make money. It is exciting to turn your dream and hard work into reality in the form of a successful business; but failing to take the proper steps to ensure your business is financially healthy can be disastrous.


It’s tax season, the time of year when we are reminded of how much paper we collect and save. Many financial institutions are moving towards electronic records, which is a good solution to help cut down on the growing piles of paper. But it’s important to save and file some of documents.


The Financial Crimes Enforcement Network (FinCEN) has removed the requirement that U.S. companies and U.S. persons must report beneficial ownership information (BOI) to FinCEN under the Corporate Transparency Act.


Melanie Krause, the IRS’s Chief Operating Officer, has been named acting IRS Commissioner following the retirement of Doug O’Donnell. Treasury Secretary Scott Bessent acknowledged O’Donnell’s 38 years of service, commending his leadership and dedication to taxpayers.


A grant disbursement to a corporation to be used for rent payments following the September 11, 2001 terrorist attacks on the World Trade Center was not excluded from the corporation's gross income. Grants were made to affected businesses with funding provided by the U.S. Department of Housing and Urban Development. The corporation's grant agreement required the corporation to employ a certain number of people in New York City, with a portion of those people employed in lower Manhattan for a period of time. Pursuant to this agreement, the corporation requested a disbursement as reimbursement for rent expenses.


The parent corporation of two tiers of controlled foreign corporations (CFCs) with a domestic partnership interposed between the two tiers was not entitled to deemed paid foreign tax credits under Code Sec. 902 or Code Sec. 960 for taxes paid or accrued by the lower-tier CFCs owned by the domestic partnership. Code Sec. 902 did not apply because there was no dividend distribution. Code Sec. 960 did not apply because the Code Sec. 951(a) inclusions with respect to the lower-tier CFCs were not taken into account by the domestic corporation.


An appeals court affirmed that payments made by an individual taxpayer to his ex-wife did not meet the statutory criteria for deductible alimony. The taxpayer claimed said payments were deductible alimony on his federal tax returns.