D.E. Rodrigues & Company Accounting Blog

IRS increases audit activity with auto dealerships

Written by August 29, 2012

The IRS has recently announced in a field memorandum that it will be stepping up its audit activity with auto dealerships with respect to inventory issues. The issue here is that under the law resellers of tangible personal property with annual average sales of $10 million or more are required to capitalize a portion of their overhead under Section 163A...

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6 Questions to ask before starting a business

Written by August 21, 2012

Throughout America , in rural towns and large cities, companies come and go with clockwork frequency. That specialty store with the ragged sign and lousy service? It’s been replaced by a funky restaurant that serves great linguini. Yesterday’s bicycle shop is today’s bakery. It’s no wonder. Creating a company that can survive even a few years is not an easy...

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Peer Review Services

Written by August 15, 2012

It’s hard to believe, but there are folks in this world who know & use other CPAs! Well, in order to stay licensed in many states, CPAs must have their practice reviewed by another CPA firm every three years. This is known as a peer review. We one of a few firms in this state certified to perform these reviews....

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Profit Leaks – Plug them Up!

Written by August 15, 2012

In this economy it is important that companies are cost conscious and squeeze the maximum amount of profits from their company. Sometimes this is as simple as switching suppliers, changing how things are done, or possibly changing their form of organization. We can help in these areas so if you have any questions, give us a call.

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Job Moving Expenses

Written by August 9, 2012

School’s out for the summer, and summer is a popular time for people to move – especially families with children. If you are moving to start a new job or even the same job at a new job location, the IRS offers 10 tax tips on expenses you may be able to deduct on your tax return. Be sure to...

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Saving for Education

Written by August 8, 2012

As everyone knows, the cost of higher education goes up each year. While many of us are already familiar with 529 plans and education IRAs, many realize that contributions to these plans, do not generate any tax deduction for the donor. One way used by some businesses and self employed individuals is to employ their children in the business. That...

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What's more important-saving for college or retirement?

Written by August 3, 2012

A college education. Retirement. What do these major life events have in common? One shared characteristic is that each comes with a price tag. Here’s another: If you have school-age kids, you might be facing the challenge of having to decide which goal to save for. They’re both important. So how do you make the choice? Here are some suggestions...

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Know the facts about IPOs

Written by August 1, 2012

Do you know anybody who’s tripled his money investing in the IPO (initial public offering) of a hotshot new company? It can happen. And many investors thought the recent Facebook IPO was a way to quick riches. Yet the truth is, most investors don’t make money playing IPOs. It’s just that no one brags when they lose money. Nonetheless, investors...

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Personal and Family Loans – Proceed with caution!

Written by July 30, 2012

When your best friend views your nest egg as a source of start-up funds for his latest business venture, or your nephew hits you up for a car loan, your first impulse may be to reach into your bank account to help. But it’s a fact that loans to family and friends often end up straining both finances and relationships....

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