If I am using my earnings (W2 paycheck) to fund my own new separate legal business, what can I deduct (assume loss for tooling/prototypin…

Posted on May 31, 2016September 1, 2016 by Wray Rives CPA CGMA

My answer to If I am using my earnings (W2 paycheck) to fund my own new separate legal business, what can I deduct … Answer by Wray Rives: If you are just at the tooling and prototyping stage in your business, you need to capitalize and amortize these initial cost to develop whatever it is Read more about If I am using my earnings (W2 paycheck) to fund my own new separate legal business, what can I deduct (assume loss for tooling/prototypin…[…]

How much do accountants charge to do a fairly complex individual tax return?

Posted on December 28, 2015May 25, 2016 by Wray Rives CPA CGMA

Answer by Wray Rives: Fees for tax preparation do vary geographically; however, tax work is also an area of accounting that lends itself well to being done remotely which can eliminate that as a consideration. I won't say that no one charges based on income levels or perceived ability to pay, but they should not. Read more about How much do accountants charge to do a fairly complex individual tax return?[…]

Understanding an 83(b) Election

Posted on May 2, 2012August 29, 2016 by Wray Rives CPA CGMA

If you have been involved with a startup company, you very likely have run into grants of restricted stock and the decision if you should make an 83(b) election. Basically an 83(b) election is a choice you make to assert your rights under section 83(b) of the Internal Revenue Code. Section 83 deals with the Read more about Understanding an 83(b) Election[…]

Teaching Children about Finances

Posted on February 29, 2012 by Wray Rives CPA CGMA

I have received a lot of interest from a post I put on Quora about teaching your kids about finances, so I thought I would share and expand on that information here. The original question was asking how to teach your children about finances. I believe the best lessons in life are learned by living Read more about Teaching Children about Finances[…]