After 48 years with the firm, Rick Reed has announced his retirement, effective December 31, 2014. Ken, Elton, and the New Braunfels staff will continue servicing the needs of the clients after Rick retires. All of the Partners and Staff in New Braunfels and San Marcos thank Rick for his service and setting the example for how to work in the CPA profession.
We have had several clients receive telephone calls from individuals claiming to be from the IRS and threatening to sue if the client fails to make a payment to them. THIS IS A SCAM! The IRS communicates with taxpayers first by mail. After that initial contact, the Service may call you (or your representative) if you have given them permission to do so. They never communicate by email first and very rarely do they email after a proper initial conversation. Stay Calm! If you are unsure, contact us and we will help sort out any confusion.
2014 Tax Planning Update
Congress passed a bill extending several tax deductions that expired at the end of 2013. Several of these deductions may be of benefit to you. Click here for a summary of the deductions available again for the 2014 year.
Also, in 2014, taxpayers are required to report their health insurance coverage to comply with the Affordable Care Act (ACA). There are several new rules regarding health care coverage that are in effect with the filing of your 2014 returns. Find out more here.
Another big change in 2014 for business is the new rules for tangible personal property. Most businesses will need to adopt rules for capitalizing assets and expensing supplies.
If you have any questions about these or other changes, please contact one of our experienced tax professionals. We are here to help!
2015 Tax Planning Update
The IRS issued mileage rates for 2015. Based on recent activity, the Service is looking very closely at taxpayers’ documentation and compliance with the rules for deducting business expenses (IRC 274(d) and IRC 162). Consult with your tax professional to make sure you are meeting the requirements necessary.
WELCOME TO REED & COMPANY!
Rick C. Reed & Company, PLLC is an accounting and consulting firm with clients throughout Central and South Central Texas. Founded in 1958, we now have a staff of more than a dozen experienced professionals supporting businesses and individuals from our offices in San Marcos and New Braunfels.
While we are proficient with numbers, we are also genuinely interested in you and your goals. Building a long-term relationship with our clients to be part of their success is our number one priority.
We hope you’ll stop in and say hi anytime.
Rick C. Reed & Company, PLLC is a CPA firm serving the accounting and tax needs of Central Texas.