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Pensacola Accountant Earns QuickBooks Elite Status

5/20/2020

 

QuickBooks rewards top Accounting Firms with Elite Status when reviews, work ethics and certifications exceed Intuits ProAdvisors requirements.
May 2020 Mike McVay, Certified QuickBooks ProAdvior has earned such status. 

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Mike McVay, QuickBooks ProAdvisor 
850-725-5696
Mike@MikeMcVay.com
www.QuickBooksPensacola.com
5336 N Blue Angel Pkwy
Pensacola, FL 32526

Marketing in a Post Quarantine Economy - Small Business

5/18/2020

 
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Right now, at the beginning of May 2020, a lot of businesses are encouraging you to innovate. Distilleries are making hand sanitizer, bakeries are teaching online classes, and so on. This has many people asking; What should I do? How should I innovate? I love all these ideas that are happening right now but I’d caution that this level of pivoting doesn’t apply to everyone.

What if instead, you decided to think smaller? What if you decided to look at your business and tried to figure out who your ideal customers are? This group is typically your top 20% of all customers. How can you serve them better? 
Once you’ve figured out who they are, how to serve them better. What would happen if you created methods and systems to do that quicker, more systematically, with even better results?

Don't work harder, streamline and innovate. Studies show small businesses earn more with a professional accountant/business advisor. 

Think Smaller to Innovate Today

Mike McVay, Small Business Advisor
850-725-5696
​Mike@MikeMcVay.com

https://www.localwebbranding.com/
Download PDF below.
business_marketing_101.pdf
File Size: 2523 kb
File Type: pdf
Download File
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Key 2020 Coronavirus Tax Changes

5/6/2020

 
​Coronavirus uncertainty abounds. Thankfully, by monitoring tax changes on your behalf, we can work together to navigate the right path for you and your family. Here is a round-up of tax-related laws and information to help with tax planning for 2020.
  • Early distribution penalty waived
    The 10% early distribution penalty on up to $100,000 of retirement withdrawals for coronavirus-related reasons is waived during 2020. New tax rules allow tax liabilities on these distributions to be paid over a three-year period. So if you need the funds, you won't see your tax bill skyrocket in one year. Even better, you can return these distributions back into your retirement account over a three-year period and not be subject to the annual contribution limits.
    Action: This could be a great way to handle emergency payments until you receive a stimulus check, unemployment payments, or a pending small business loan.
  • Required minimum distributions (RMDs) waived for 2020
    Required minimum distributions (RMDs) in the year 2020 for various retirement plans is suspended. The corresponding 50% penalty associated with not taking an RMD is also suspended in 2020.
    Action: Taking out distributions when the market takes a tumble can hurt retirement income for many years. This change allows you to wait to let the value in your retirement account rebound before you withdraw funds.
  • IRS installment agreement suspension
    The IRS is suspending payments of all amounts due from April 1 through July 15, 2020. If you do not pay your IRS installment payment during this time your installment agreement will not be in default. Interest will continue to accrue on these installment agreements.
    Action: Being on the bad side of the IRS is never fun. If you currently have an IRS installment agreement, look to take advantage of this delay.
  • Offers-in-compromise
    The IRS will allow you until July 15, 2020 to provide additional requested information for any pending offers-in-compromise (OIC) and will not close out the OIC during this time without your consent. The IRS is also suspending any payments due under an OIC until July 15, 2020.
  • Enforcement activities suspended? Not so fast...
    The filing and enforcement of liens and levies will generally be suspended. However, IRS Revenue Officers will continue to pursue high income non-filers and initiate other actions when warranted.
  • No new audits
    The IRS will not initiate new audits during this time, but will act to protect the statute of limitations.
Mike McVay, Tax Accountant 
850-725-5696
Mike@MikeMcVay.com
Certified QuickBooks ProAdvisor
5336 N Blue Angel Pkwy
Pensacola, FL 32526
    Mike McVay, Tax Accountant Blog
    Certified ​QuickBooks ProAdvisor & Licensed Tax Accountant Pensacola, FL
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    Author

    Mike McVay, Accountant Experienced IRS Tax Resolution Specialist
    With over 20-years experience working with individuals, families & small business owners allows me to share helpful information and long term knowledge to help with their income tax, I.R.S tax issues and businesses.
    850-725-5696​
    BestVirtualBookkeepers@gmail.com

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Mike@MikeMcVay.com
​850-725-5696
5336 N. Blue Angel Parkway
Pensacola, FL 32526