RIVES CPA PLLC
TAX
TAX SERVICES: Consultative tax planning to reduce taxes Proactive tax ideas Tax reporting for US federal Tax reporting for all 50 states 1099’s W2’s Sales tax reporting LLC, C Corporation, S Corporation
BUSINESS ACCOUNTING
ACCOUNTING SERVICES: Support cloud based bookkeeping services Preferred service provider for Xero Quickbooks Online Freshbooks. Collaborate with us in real time about your finances Automatic import of bank transactions
VIRTUAL CFO SERVICES
CFO SERVICES You don’t hire a CPA to fill in the blanks for you on a tax form. You hire a CPA for their expertise and knowledge.
RIVES CPA PLLC
My passion is owner operated businesses and I believe they are key to any successful economy. My firm's goal is to help you succeed by providing knowledge, expertise and peace of mind.
Tax planning and compliance
Cloud accounting solutions
Payroll service
Virtual CFO/Business Coach
HELPFUL ARTICLES
Non-resident Alien Selling on Amazon
As a general rule selling on Amazon is considered US sourced income and requires filing a US federal income tax return. In the case of one non-resident owning an LLC that is selling on Amazon, that means the owner files a form 1040NR with a Schedule C to report the income and expense of the Read more about Non-resident Alien Selling on Amazon[…]
Form 1099 vs W9
W9 Form A W9 Form Form W-9, Request for Taxpayer Identification Number (TIN) and Certification is a request for your taxpayer ID number. Typically that is your social security number. Independent contractors normally complete a W9 form to give to their customers who will use the information to file Form 1099 in January of each Read more about Form 1099 vs W9[…]
How to find a CPA
Understand what services you need from a CPA. Despite what some people seem to think, we CPA’s are not all the same. We tend to specialize in certain areas of practice and many simply don’t do some areas of service. I don’t do audits and I don’t do personal financial planning. I know people to Read more about How to find a CPA[…]
Tax Advantages of S Corporation
The tax advantages of an S Corporation vs sole proprietorship or partnership is typically in the Self Employment tax. With a sole proprietorship or general partnership, all profits are in one bucket that flows out to the owner for taxation. The owner is taxed for income tax and self employment tax. Income tax depends on Read more about Tax Advantages of S Corporation[…]
What are my tax duties as a non-resident-alien and LLC owner
What are my tax duties as a non-resident alien and LLC owner? Answer by Wray Rives CPA CGMA: First off I need to give you a disclaimer that taxation of non-residents by the US is a complex topic. I am going to give you general answers, but you really should contact a US tax professional Read more about What are my tax duties as a non-resident-alien and LLC owner[…]
What is the difference between C Corp and S Corp
S Corporations and C Corporations have a number of differences. From a tax perspective the key differences are: S Corporations Limited to one class of stock Limited to 100 shareholders All shareholders must be US individuals or certain trusts and estates Generally no income tax at the corporation level Taxable income flows through to the Read more about What is the difference between C Corp and S Corp[…]
How you distribute losses on a K1 for S-Corporation shareholders
How to you distribute losses on a K1 for S-Corporation shareholders? Answer by Wray Rives CPA CGMA: There are a number of issues and facts to consider with S Corp losses. Not Earned Income/Not Passive Income – The flow through income from an S Corp is not earned income, but it is not necessarily Read more about How you distribute losses on a K1 for S-Corporation shareholders[…]
Accounting for ICO’s-Initial Coin Offerings
Question: How are ICOs treated on the balance sheet of the issuer (i.e. are tokens treated as unearned revenue?)? What are potential ramifications on valuation? ICO’s-Initial Coin Offerings are a new financing tool used by companies. These offerings are un-regulated crypto-currencies and therefore popular with startups that want to raise funds without the high cost Read more about Accounting for ICO’s-Initial Coin Offerings[…]
Sales Tax Nexus
As a result of the Supreme Court ruling in South Dakota v. Wayfair, online sellers now need to consider sales tax obligations in state that have a sales tax nexus statute. The precedent set by the 1992 Quill has now been overturned. Now, not only does physical presence count, but “economic” presence in a state Read more about Sales Tax Nexus[…]
Tax Cuts and Jobs Act
The Tax Cuts and Jobs Act (TCJA) was passed at the end of last year and is the first tax law change in some time that actually have substantive changes to how US taxes are calculated. Tax rates changed Expenditures that used to be deductible are no longer Individual standard deduction amounts changed Personal exemptions Read more about Tax Cuts and Jobs Act[…]