Accolade Advantage Archives - Accolade Accounting

Roth IRA, could this be the right retirement account for me?

JD Longino — Wed, 10 Mar 2021 12:10:26 +0000

Having the knowledge about which type of retirement account can be beneficial to you depending on your specific needs. Each type will have its own advantages and disadvantages. Through this blog post

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What is a Traditional IRA and is it right for me?

JD Longino — Thu, 04 Mar 2021 11:10:45 +0000

Traditional, Roth, SEP, IRA; so many terms, types and forms can have you turned upside down in no time. But quiver not as I have the key that will decipher the jargon and give you a crystal-clear understanding.

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Unraveling IRA’s

JD Longino — Mon, 22 Feb 2021 05:00:09 +0000

Unraveling IRA’s so you can make informed decisions about your retirement

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Can social justice taste any sweeter?

JD Longino — Sat, 06 Feb 2021 13:00:39 +0000

I LOVE food and would consider myself a foodie of sorts, as I enjoy a diverse selection of fare.

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Payroll Taxes – What You Should Know

JD Longino — Tue, 26 Jan 2021 05:00:09 +0000

2020 was a year of many changes to include the redesigned Form W-4 to figure employee withholdings.

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2021 Tax Changes

JD Longino — Tue, 12 Jan 2021 05:00:22 +0000

Looking for Tax Opportunities for 2021? We’ve read the tax changes for 2021 and highlighted a few that will impact most people.

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Happy Holidays!

JD Longino — Tue, 22 Dec 2020 13:00:23 +0000

My kids are excited as they are every year. The gift lists are complete and, shopping online is the ONLY way to handle the holidays in the future!

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Sign Of The Season

JD Longino — Tue, 08 Dec 2020 13:27:49 +0000

The air is crisp, and the trees are bare, natural signs of change. They are also signs that it is time to think about the upcoming year…

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Tips To Closeout Your Business Year

JD Longino — Tue, 24 Nov 2020 13:56:59 +0000

2020 has been a “wild ride” to say the least and it’s not over! Our resilience during this particularly difficult year is a testament to the human spirit! If you’re a business owner, as I am, you may have different planning needs as we close out this very unusual year and plan for 2021.

Consider your tasks to close a summer home. You’ll need to pack away the beach toys. With no one occupying your vacation home during the winter, you’ll want to lock and shutter the windows. All of these are on your checklist of things to do, to make sure all the steps are completed to close the house for the season.

To closeout your business year, you’ll need to:

Permanently file closed client accounts and securely store information for the required retention period. Remember to follow GDPR guidelines to secure clients’ private information.
Closeout HSA & FSA medical spending plans and other plans that end annually.
Check out our tax calculator, to get a tax payment estimation.

If you’re filing your 2020 taxes in December or March of 2021, use the checklist below to ensure you have all the documents to complete your 2020 closeout.

Don’t forget to document Direct Expenses and Indirect Expenses, Depreciation, and Improvements. As we have been working from home for most of this year, there may be additional expenses to consider that you didn’t consider in previous years? Contact us, we can tell you what those are.

Click and download the image below, gather the documents to file, and prepare them for your 2020 closeout.

Cheers!
JD Longino, CPA

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The importance of friends, family and community.

JD Longino — Tue, 17 Nov 2020 21:20:43 +0000

This year has taught us the importance of connection. While we endured the uncertainty of March and the “studder” start of states and communities re-opening, closing, and re-opening again, the one lesson we learned is that we need each other and we are most resilient when we work together.

The strain of our social fabric pulled the seams threadbare as We the People exercised our rights as citizens to bring awareness to the injustices. Accolade Accounting has given its 2020 profits to the NAACP legal fund in support of those willing to band together for the justice our constitution promises.

We are stronger when we stand together. As I reflect on the events of this year, I feel more strongly connected to my family, friends, neighbors, business associates, and clients. In this season of Thanksgiving, I feel a wellspring of gratitude for each of you. I am even more proud of the diversity of services my team and I provide for you every day.

As we adjust and find our way as a global community fighting this pandemic, we learn our limits and the ways to band together to strengthen our hearts. We are resilient! We are humbled, We are grateful for one another and We are here for you.

30 days remain to complete your end of year planning, loan payments (remember you’ll need to meet requirements for your PPP loan to be forgivable), and end of year contributions. Our offices will be open until 11/25. We are closed for the Thanksgiving Holiday. We reopen on 11/30/20 for appointments. Planning and tax deductions are still possible through December and we are here for planning, consultations, and your year needs. Schedule your appointment today!

From my family to yours, Happy Thanksgiving!

Cheers!
JD Longino, CPA

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