Resources & Insights from the Verian Team.

Large-scale tax change – tax surprise

  Is a Tax Surprise Waiting for You? September 12, 2018  Often lost in the excitement of large-scale tax change is how they can negatively impact some individual situations. Check out the questions below to see if you might be in for a tax surprise this year. Will You...

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Keep the Right Records for Tax Purposes

  Record Keeping for Tax Purposes September 18, 2018  Tax law change can be good — but it can also be messy. Make sure you're keeping track of everything you need for the 2018 tax season (and beyond) using these pro-approved tips: 1. Create A Separate Bank Account For...

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Improve Your Credit Score

  Give Your Credit Score a Boost September 6, 2018  Your credit score is one of the most important aspects of your financial health. It is used by potential lenders, landlords and even employers to analyze your financial situation in one way or another. Here are some...

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Ideas to Improve Your Financial Health

  Ideas to Improve Your Financial Health August 6, 2018  1. Create a safety net. Plan to have a minimum savings balance to cover at least three months' of expenses (ideally, this should be six to 12 months). If your reserves are light, start saving now. Even if it is...

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Student Loan Forgiveness Creates New Tax Trap

  Student Loan Forgiveness Creates New Tax Trap August 24, 2018  The Debt Forgiveness Program Dilemma To combat the hardship of high student loan debt, a popular new repayment option is the income-based repayment plan. These plans limit monthly payment amounts to a...

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Manage Capital Gains Tax Tips

Manage Capital Gains Tax Tips August 14, 2018  Understand Capital Gains and Their Taxability. Capital gains are recognized when you sell a capital asset for more than your basis in that asset. Capital assets are typically something of value like your home, a car and...

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Setting up Your Business Accounting System

  Setting Up Your Business Accounting System August 8, 2018  Consider Business Entity. Choosing the right legal and tax entity for your business is important. Consult experts to discuss your options. On the tax side, sole proprietors use a Form 1040 Schedule C to...

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Supreme Court Ruling Complicates Sales Tax

  Supreme Court Ruling Complicates Sales Tax August 1, 2018  The U.S. Supreme Court issued a ruling in the South Dakota vs Wayfair case that opens the door for states to impose sales tax on sellers outside their borders. The case highlights a new standard of business...

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Five Tax Breaks for New Parents

  Five Tax Breaks for New Parents July 12, 2018  New parents have their work cut out for them. Not only are they dealing with lost sleep, they also face the extra cost of raising a child. At least there are a lot of potential tax breaks available to them. Check out...

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Elements of a good business partnership

  Elements of a Good Business Partnership July 16, 2018  Like a bundle of sticks, good business partners support each other and are less likely to crack under strain together than on their own. In fact, companies with multiple owners have a stronger chance of...

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Amend Your Return

  Is It Worth It to Amend Your Return? July 26, 2018  Whether it makes sense to amend your return depends on which of these situations you're in: If You Owe the IRS If you discover an omission on your tax return that results in you owing additional tax, you need to...

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Planning for Retirement

  Planning for Retirement August 1, 2018  Need to save more for retirement? Here are some questions to ask yourself to help you get started and stay on track: How Much Money You Need? The number of years you have before retirement will help determine how much you will...

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How to Get Your Customers to Pay on Time

  Receivables Management Procedures July 18, 2018  Your customer is satisfied — but a month has gone by, and your invoice is still outstanding. You'd like to work with the customer in the future. So how do you get your money without losing the customer? Here are two...

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Become Debt-Free

  Become Debt-Free July 5, 2018  The average household carries $137,063 in debt, while the median household income is less than $60,000, according to data from the Federal Reserve and U.S. Labor Department. While it's easy to get into debt, it can be hard to get out....

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Customer Service

  Customer Service June 21, 2018  Even with the best of intentions, many companies talk up customer service but don't actually deliver. In order to really provide great customer service, every employee needs to be tuned in to how he or she can contribute to keep...

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Business Metrics

  5 Business Metrics to Monitor June13, 2018  Revenue, gross margin, net profit ⎯ these are the basic metrics every small business owner watches closely. But there are also some often-overlooked metrics that can deepen your insight into your business and inform your...

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Home-based business tips

  5 Questions to Ask Before Starting A Home-based Business June 27, 2018  A lot of people consider self-employment because they've lost their seemingly stable jobs in the corporate world. Others just dream of making it on their own. As online marketing becomes easier...

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Benefits of owning a home

  6 Tax Benefits of Owning a Home June 11, 2018  If you own or are considering owning a home, you can take advantage of many tax benefits. Here are size of the most commonly used homeowner's tax breaks: Mortgage Interest Deduction You can deduct the interest you pay...

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Tax Planning

  Planning for 2018 Tax Changes June 1, 2018  Now is the ideal time to schedule a tax-planning session. Your tax return outcome is still fresh, and it’s early enough in the year to make corrective action to take advantage of the numerous new tax law changes taking...

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6 Ways to Avoid a Credit Card Catastrophe

6 Ways to Avoid a Credit Card Catastrophe May 9, 2018  Credit cards should be a convenient short-term way to pay, not a source of regular spending. Unfortunately, some people have a hard time staying true to this concept. Instead of paying off the entire balance due...

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How to handle a gap in health care coverage

  How to Handle a Gap in Health Care Coverage May 22, 2018  Health care coverage gaps happen. Whether because of job loss or an extended sabbatical between gigs, you may find yourself without health care for a period. Here are some tax consequences you should know...

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Get Your Small Business off the Rocks

Get Your Small Business Off the Rocks May 4, 2018  Every small business eventually hits a rough patch. It’s easy to get discouraged when it happens. But look at the upside: you have infrastructure in place, you have existing customers and most importantly, you have...

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Why a Business Appraisal May Be Your Best Friend

Why a Business Appraisal May Be Your Best Friend May 7, 2018  For many business owners, business appraisals can provide vital planning information and help mitigate risk. Consider what it may be able to do for you: Establish a Verifiable Value for Your Business This...

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Tax Cuts and Jobs Act FAQs

Tax Cuts and Jobs Act FAQs May 1, 2018  The Tax Cuts and Jobs Act (TCJA) was passed by Congress in a hurry late last year, and the IRS and tax preparers have been working to digest some of the more thorny issues created by the tax overhaul. Here are the latest answers...

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Retirement Healthcare Costs

Win the Battle Against Retirement Health Care Costs April 25, 2018  When you think about how much money you'll need in retirement, you may consider your living costs, travel expenses and hobbies you'd like to enjoy. But you may be overlooking one of the largest costs...

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Tips for Selling Your Business

Tips for Selling Your Business April 19, 2018  If you enjoy running your own business, selling it may be the furthest thing from your mind. But the reality is that eventually an opportunity to sell will come, whether due to your own life changes or a perfect buyer...

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When to Incorporate Your Business

When to Incorporate Your Business April 13, 2018  If you're a business owner, one of the first questions to ask yourself is whether or not you should incorporate. The biggest advantage of incorporating is that it limits your legal liability. Your responsibility for...

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2nd Quarter Interest Rates Increase

  2nd Quarter Interest Rates Increase April 11, 2018  Interest rates charged by the IRS on underpaid taxes and applied by the IRS on tax overpayments will increase for the second quarter of 2018 (April 1 through June 30). Here are the new rates:   For Individuals 5...

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When to File an Extension

When to File an Extension April 9, 2018  While most people should file a tax return by April 17, you have the option of delaying your filing date until Oct. 15 with a tax extension. When to File an Extension   Missing or Incorrect Information If one of the forms you...

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R&D Credit

Getting Tax Credits for Research & Development April 3, 2018  Tax credits are one of the best tax-reduction tools for your business because they directly decrease your tax bill dollar for dollar. The business research and experimentation credit, also called the "R&D...

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Nontaxable Income

Nontaxable Income March 26, 2018  There are several sources of revenue that are not subject to income tax. Do you know what they are? Here are the most common sources of money that are generally not taxed on your federal income tax return: Borrowed money, such as from...

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Tax Refund into retirement Account

Tips for Putting Your Tax Refund Into a Retirement Account March 20, 2018  If you plan on having the IRS deposit your tax refund into one or more individual retirement accounts (IRAs), most of the hard part is already done: You've already decided that you want to save...

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Tax Time Q&A

Tax Time Q&A March 14, 2018  With all of the headlines about the changes to tax law, you probably have lots of questions. Here are answers to some of the most common questions taxpayers have this year. Q: I'm hearing about a lot of changes to 2018 taxes. What should I...

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New Tax Legislation Requires Planning

New Tax Legislation Requires Planning March 8, 2018  Though many taxpayers appreciate the income tax cuts in the Tax Cuts and Jobs Act (TCJA) passed late last year, others are skeptical that it will simplify their tax planning. With every simplification, there are...

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Tips For When Hiring Family Members

Tips For When Your Employees Are Family Members. February 26, 2018  Working with family can be a pleasure. It can also be a pain, especially if you have to terminate a family member's employment. Here are tips to help you ease the strain of mixing your family and...

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The New Tax Act Means Big Changes for Taxpayers

The New Tax Act Means Big Changes for Taxpayers February 6, 2018 The Tax Cuts and Jobs Act was passed at the end of December 2017 with some of the most sweeping changes taxpayers have seen in 30 years. Here are a few big changes to come out of the new act — and what...

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Taxes and Virtual Currencies

Taxes and Virtual Currencies : What You Need to Know February 28, 2018 Virtual currencies are all the rage lately. Here are some tax consequences you must know if you decide to dip your toe in that world. The IRS Pays Close Attention. The first thing to know is that...

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New 2018 Capital Expense Rules

New 2018 Capital Expense Rules February 1, 2018 There are many provisions in the tax reform bill passed in late 2017 designed to benefit small business owners. They include a lower corporate tax rate as well as a special tax reduction for business structures taxed as...

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Avoid Payroll Fraud

Is Your Business Susceptible to Payroll Fraud? January 18, 2018 Although you may not want to hear it, all businesses can be hit with payroll fraud. Find out how it happens and what you can do about it. Unless a small business owner handles all aspects of computing and...

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Verian Welcomes Newest Accountant

Verian Welcomes Newest Accountant January 16, 2018  Yanfang is from China and has her bachelor and master's degree in Physics. After coming to the United States, she decided to try a totally different field. In December 2017, she received her master degree in...

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Your Tax-Time Financial Review

Your Tax-Time Financial Review January 8, 2018 Now is the perfect time to review your financial affairs. You have to gather information to prepare your tax return at this time. Why not take one more step and do something positive for the wellbeing of your wallet? The...

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Tax Reform in 2018

Tax Reform in 2018: Planning Ahead A preview of the most significant items that will effect your business and personal taxes. January 5, 2018  Congress has passed tax reform that will take effect in 2018, ushering in some of the most significant tax changes in three...

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5 Year End Tax Tips

5 year-end tax tips December 18, 2017  The clock is ticking down to 2018 ... but you still have a few weeks left to make some last-minute tax moves. Take a look at these five tips and save a little more this year.   “you still have time to consider a few tax-saving...

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Avoid Holiday Fraud

The holidays: A time for mistletoe and … fraud? December 15, 2017  It's not surprising that identity thieves and con artists love the holidays. More shoppers, more deals and more buying motivation makes the season rife with opportunities to steal. But you don't have...

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Your Business Year-End Health Check

Your Business Year-End Health Check December 12, 2017  Business owners and managers spend most of their time monitoring operations and dealing with everyday problems. But just as an annual checkup from your doctor helps monitor and manage your personal health, an...

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Introducing Verian

A leading New Mexican CPA firm since 1996, Urbielewicz Murphree CPAs today announced it will be rebranding, as well as unveiling a new website.

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