Cash Flow Planning for Life - Helping you reach your personal & professional financial goals.

Cash Flow Planning for Life

Helping you reach your personal & professional financial goals.

Is your CPA committed to education?

Does your CPA use cutting edge technologies?

Do you receive quality service?

Makara & Associates LLC
These are the type of questions that your CPA should be happy to answer for you, giving you the “peace of mind” that you deserve.

Don’t settle for anything less.

Work with a CPA that is committed to continuous training and is well-versed in working with accounting in all facets of the economic chain.

Regardless of the size of your business, personal attention to accounting details are vital to the success of your business.
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Are you considering a divorce?

Do you have children? Are you seeking child support?

Will you also be asking for alimony?

Alimony and Child Support

Learn More About Divorces From a Financial Perspective

Thinking about the financial perspective of a divorce can be unsettling. Knowing the changes it can bring can make you feel uncomfortable.

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When will Social Securityyou be eligible to collect your benefits?

Have you reviewed your Social Security Benefits Statement recently? 

What age is going to work best for you to start collecting your benefits – age 62, your full retirement age or age 70?

Nowadays, the subject of planning for your retirement is something that is frequently discussed.

Especially the age you should start collecting your social security benefits. Each expert has their opinion.

Deciding when to begin receiving your benefits can be a complicated decision. A decision that you shouldn’t take lightly.

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Are you a business owner counting down the days to the tax deadline?

Are you looking for some business tax tips on deductions that you may have missed?

Tax Tips

Following up on business expenses that can generate a tax deduction can be time-consuming, especially if you are not familiar with them. Trying to figure out which ones you qualify for may be difficult.

Having a guideline to follow can help.
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Forensic Accounting Grows as a Diverse New Tool

Posted by Mark On February 5th

Do you know the value of Forensic Accounting?

Are you in need of a Forensic Accountant?

Are you familiar with a Cr.FA designation?

Forensic Accountanting

Today, there is more awareness and less tolerance of fraudulent activity, creating a greater need for Forensic Accountants. Do you have financial data that needs to be collected, prepared, analyzed, and reported for the purpose of shedding light on discrepancies, possibly in court? Or are you taking the time to educate yourself on the benefits of Forensic Accounting?

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Do you know what taxes you need to pay?

Are you familiar with what tax forms you need to file?

Do you have a tax strategy?

Independent-Contractor-Taxes...Know-Your-Options
There are many potential pitfalls that independent contractors should be aware of. Receiving a 1099 for income paid to you means it is time for you to review your options as an independent contractor. The key is to understand what taxes you are responsible for and what tax forms you need to file.

As an independent contractor, not being prepared at the year-end can be very stressful. This is especially true if you find out you owe a large amount of money for taxes that you didn’t plan for.

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You probably think you are ready to file because you have received a 1099 for your services, held on to all your receipts, and have all your documents in order.

Independent Contractor Tax-FormsThis is the sixth installment of
Independent Contractor Taxes…Know Your Options.
It can be downloaded from our eBook library.

It seems like everything is falling into to place with your Independent Contractor status. Once you file your Independent Contractor Tax Forms, it will be smooth sailing!

Wrong! Have you…
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Home office business deductions is another area that has changed recently. The Internal Revenue Service has provided a $5 per square foot (max $1,500) standard deduction for individuals that qualify.

Business Deductions

This is the fifth installment of
Independent Contractor Taxes…Know Your Options.
It can be downloaded from our eBook library.

The rules to qualify for a deduction have not changed and you should review your situation with a tax professional before taking any deduction as it relates to a home office.

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Do you know your independent contractor business expenses? If not, see my eBook: 7 Things Every Small Business Owner Needs to Know for additional information on expenses. I will review below a few expense categories and taxes that I believe are common with self-employed individuals.

Independent Contractor Business ExpensesThis is the fourth installment of
Independent Contractor Taxes…Know Your Options.
It can be downloaded from our eBook library.

Ordinary business expenses including rent for an office, utilities for said office, supplies and equipment needed to run the business are deductible 100% against income earned. I’m not going to go into much detail here because if used only for the generation of the income it’s considered an ordinary expense.

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The balance of this eBook is not intended to cover every situation. Once you determine that you are self-employed and will receive a Form 1099 for your services, I suggest you contact a tax and/or legal professional to guide you through your individual situation.

Form 1099

This is the third installment of
Independent Contractor Taxes…Know Your Options.
It can be downloaded from our eBook library.

Whether you’re a consultant, hair stylist, or painter, being self-employed is the same as starting any other business and you need to treat it accordingly. You may or may not have employees or a brick and mortar office location; however you need to treat your business in the same manner as a building contractor with 25 employees would. As I will explain in detail below…

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