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Richard Huszai, CPA

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10 Keys for a Faster Year-End Close

Posted by Richard Huszai, CPA on Mar 12, 2019 11:19:00 AM

Depending on whether your organization is on a calendar or fiscal year, you may have just gone through a year-end close, or you’re looking forward to one (using the phrase “looking forward to” very loosely.) Do you find the year-end closing process to be an arduous ordeal or a series of sure, predictable events? What if I told you could make year-end closings faster and easier?

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Topics: accounting, Business - Management, Issues & Concerns, account systems

Ask the Expert: Are 2018 Income Taxes Easier to Prepare Under the Tax Cuts and Jobs Act?

Posted by Richard Huszai, CPA on Mar 7, 2019 7:22:00 AM

Are 2018 Income Taxes Easier to Prepare Under the Tax Cuts and Jobs Act?

Like any good consultant, my answer is: It depends.

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Topics: income tax, Ask the Expert, Tax Cuts and Jobs Act of 2017

Fiscal Fitness: How understanding financial statements will help you assess your company’s health

Posted by Richard Huszai, CPA on Aug 24, 2017 9:45:43 AM

Many business operators, regardless of background, are charged with some degree of fiscal oversight. While some may have a basic understanding of the information listed on their company’s financial statements, the majority are not accountants, nor have they had training that covers the detail contained within their financial statements. 

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Topics: Business - Management, Issues & Concerns, Richard Huszai, CPA

Domestic Bliss: What You Need to Know Before You Convert Your Primary Residence to a Rental

Posted by Richard Huszai, CPA on Jul 7, 2017 10:53:00 AM

For many, being in the position to either sell your primary residence or rent the property is a powerful one. Rental income can be a great additional source of income and the investment, if managed properly against the rest of one’s financial portfolio, can contribute to a nice tax shelter. 

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Topics: investments, Taxes - Individual, Richard Huszai, CPA

5 Things Every Small Business Owner Should Do Before Dec. 31.

Posted by Richard Huszai, CPA on Dec 13, 2016 10:11:45 AM

For many small business owners, the fourth quarter signifies a final flurry of activity. Whether that is projecting inventory against sales or contemplating major purchases against anticipated revenue, for those who use QuickBooks software, it may seem as if the program takes care of the business loose ends on their behalf.  As a result, business owners view the end-of-year task list as one less thing  to think about in the middle of the night.

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Topics: Taxes - Corporate & Business, Business - Management, Issues & Concerns, Richard Huszai, CPA, deductions

After the "I Do's": Tax Tips for Newlyweds

Posted by Richard Huszai, CPA on Jul 30, 2016 8:30:00 AM

Looking for a gift to give after all those June weddings? How about some solid tax advice for the newlyweds?

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Summer Wedding? 6 Ways Getting Married Will Affect Your Taxes

Posted by Richard Huszai, CPA on Jul 22, 2016 5:30:00 PM

It's here. Your summer wedding, long in the planning and preparation phase, has finally arrived. You've spent many months knee-deep in details, from the "will you marry me" or "I will's" to selecting the first song you dance to as husband and wife. You've bickered and resolved the guest list, swallowing your pride to allow crazy Aunt Alice to the reception even though you would rather not, and begrudgingly penning "and guest" to your best friends invitation even though you think their choice is less-than-stellar.

In the end, there is one person who many couples usually forget to include when budgeting for a wedding and finalizing the guest list: Uncle Sam. 

Yes, there are tax issues that come along with getting married. Here are six basic tips courtesy of the IRS to help you on your road to wedded bliss:

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Topics: Taxes - Individual, Richard Huszai, CPA, IRS

Reasonable Compensation for Shareholders of Corporations

Posted by Richard Huszai, CPA on Jun 16, 2015 10:14:00 AM
Whether you operate your business in a C corporation or an S corporation, the matter of “reasonable compensation” is an important topic to discuss with your tax practitioner. There are key differences in how “reasonable compensation” is defined in connection with the two types of corporations. 

C Corporation

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Topics: Taxes - Corporate & Business, Taxes - Planning, Rules and Returns

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