Stories of success from SDK assisting clients with challenging issues.
Case Study #35 – Internal Controls
Strong internal controls over cash are imperative in order to prevent and provide safeguards against losses due to mishandling of funds and fraudulent activity.
Case Study #82 – Annual cleaning and file retention
The Rule, or the not so obvious rule: “Keep all records for as long as you might need them.” In other words, keep your tax records until the statute of limitations expire for that particular tax year.
Case Study # 25 – 2010 Tax Act Impact-Gifting
A couple with assets in excess of $5 million wanted to know the effect of the 2010 Tax Act on estate planning strategies which may be beneficial to them.
Case Study # 26 – Life Insurance Trust
A client whose assets exceeded $5 million wanted to purchase $1,000,000 in life insurance and keep it out of his estate. For Minnesota residents, those with assets over $1 million would also benefit from this technique.
Case Study #30 – Accounting Software
Most accounting software packages are not supported by the manufacturers once they are more than two years old.
Case Study #12- Benefits of Bonus Depreciation
Bonus depreciation can be taken to reduce taxable income or create net operating losses.
Case Study #3 – The Value of the Section 179 Deduction
The American Recovery and Reinvestment Act (ARRA), enacted in February 2009, extended the bonus depreciation and increased the section 179 deduction.
Case Study # 6– Benefits of a cost segregation study
Client Profile: This client acquired a building for use in leasing to third parties for $5,200,000. The client also owns several other commercial rental properties in the metro area.
Case Study # 27 – Interviewing Bookkeepers
Client Profile: You are a small business owner and your bookkeeper has just given his/her 2 week notice. You are now left with the time-consuming task of hiring a new bookkeeper to replace him/her.
Case Study #19 – Internal Control Improvements
During a recent audit of an organization, management was aware of the need to further segregate the duties around recording cash receipts and handling of checks.
Case Study #17 – Copier Leases
Leases may end up costing your company more than if you would buy equipment outright. Research will allow you to make the best decision for your situation.
Case Study #14 – Online Federal Tax Deposits Explained
As of January 1, 2011, all federal tax deposits must be made through the EFTPS system. Here are the instructions.
Case Study #4 – Making loans to deduct losses
Making loans to a closely held business can be beneficial in deducting current year losses.
Case Study #42-Use of Personal Vehicles
In order for an individual to deduct the business use of their personal vehicle, they must track their miles and expenses.
Case Study #2 – A new life for Form 8109
Form 8109 is NO longer a paper coupon!! Taxes must be paid using the EFTPS system.
SDK Case Study #75 – Litigation
To Audit or not to Audit; One clients process of deciding on an audit, and the positive outcomes.