Sunday, September 28, 2008
Things your accountant doesn't tell you!
For many years, I have asked only three things from the CPA's (and there have been many) who serve us. They are as follows (1) Keep me up to date on changes that effect small business, (2) provide quarterly reports to help me in cash flow requirements, and (3) help me with tax planning BEFORE the end of the year. You may not be surprised to know that not a single one has ever accomplished this objective.
For example, we just learned by accident that the mileage allowance for business use of vehicles is now over fifty eight cents per mile! That means that depreciation and operating expenses is NOT the way for any high mileage business vehicle operators to report to the IRS. Do you know why so many rich people driver Hummers, Navigators, and Suburbans? It's because of incredible IRS tax savings given to those who drive gas guzzlers. Your "rich" neighbor is probably paying less for driving a Hummer than many of us are paying for driving Cobalts!
So what's the point? The point is that what you don't know CAN hurt you! Perhaps this is the reason why Motorola has taken it upon themselves to share valuable tax planning information that can allow you to purchase a new communications system for over 30% less than those who don't take advantage of the legal deductions available to those who know about recent IRS tax rulings. An excellent example is available at www.info4u.us/2008ESA.pdf.
So why are we sharing this information with you? Simple - SO YOU WILL BUY YOUR COMMUNICATIONS EQUIPMENT FROM US!