Bozeman Accountants: 7 Cash Saving Ideas For an Economic Recession You are probably looking for Bozeman accountants because recession is really a word that fills individuals with dread and bad visions.  It is a time people consider harmful to finances, a period able to diminish a dollar’s value overnight like magic.  Additionally, it instantly increases the price of fundamental living.  And where money has become a concern, people always request, ‘Can I still save legitimate throughout an economic depression?A  The reply...

Save cost or Save taxes which is the better tax strategy? In today’s economy, every businessperson is looking for ways to maintain business profits. Ideas for increasing sales and cutting costs abound. You’ve probably tried most of them. But there’s one source of cost savings that is often overlooked, and it can be surprisingly effective. Most businesspeople don’t think of taxes as a profit source, but saving a dollar of taxes can be even better for your financial health than...

Safeguard your financial records or face the consequences Every year there are natural disasters that remind us how easily we can lose essential tax and financial records. After a disaster, you’re more likely than ever to need certain records to file insurance claims or apply for loans. It’s smart to take the time to identify key records, make copies, and find a secure place to store them. Here are some suggestions to get you started. You don’t need to copy...

GET PREPARED FOR 2014 HEALTH CARE MANDATES The Internal Revenue Service will function as the government’s chief enforcer for health care reform, monitoring both businesses and individuals to certify whether they have the insurance coverage the government requires. The bill states that the purpose of the mandates is to regulate “economic and financial decisions about how and when health care is paid for, and when health insurance is purchased.” The mandates require that all Americans carry a minimum level of...

Increase in Exclusion of Gain on the Sale of Certain Small Business Stock An extra incentive is now available to individuals who invest in small businesses. Investors in qualified small business stock can exclude 75 percent of the gain upon sale of the stock. This increased exclusion applies only if the qualified small business stock is acquired after Feb. 17, 2009, and before Jan. 1, 2011, and held for more than five years. For previously-acquired stock, the exclusion rate remains...

Charitable Contributions New record keeping requirements for cash contributions. You cannot deduct a cash contribution, regardless of the amount, unless you keep as a record of the contribution a bank record (such as a canceled check, a bank copy of a canceled check, or a bank statement containing the name of the charity, the date, and the amount) or a written communication from the charity. The written communication must include the name of the charity, date of the contribution, and...