Barry Snell CPA

[Barry Snell CPA @BarrySnell_CPA]

Business owners are required to offer retirement benefits to their employees. We can help!

We partner with ADP to help our clients who are business owners stay compliant.

Email us today.

[Barry Snell CPA @BarrySnell_CPA]

Best ways to save money:

- Automate transfers to your emergency fund
- Track spending for 2 weeks to find easy cuts
- Refinance high-interest debt & prioritize high-rate balances
- Switch providers when it pays
- Meal plan & shop with a list
- Sell unused items

[Barry Snell CPA @BarrySnell_CPA]

Business Owners!

How are you documenting your business expenses?

The IRS doesn't have to accept your deductions. You have the burden of proof.

Do you have a paper trail?

[Barry Snell CPA @BarrySnell_CPA]

Did you know that the SECURE 2.0 Act includes a provision that permits up to $35K of unused funds in a 529 Plan to be transferred to the beneficiary's Roth IRA without a penalty?

As long as these six things are in place.

⏯️ Head over to our Facebook account to see the 6!

[Barry Snell CPA @BarrySnell_CPA]

Cheers to our staff accountant, Mrs. Tenisha Collins, on her birthday!

Thanks for crunching the numbers and keeping our clients happy.

Enjoy your day off! 🎉⚖️

[Barry Snell CPA @BarrySnell_CPA]

Did you know CA offers renters a credit?

⏯️ The rental unit must be your primary residence.

⏯️ You must be 65 or older by December 31, 2025, or meet certain disability or surviving spouse criteria to qualify.

⏯️ Your household income for MFJ must not exceed $107,988.

[Barry Snell CPA @BarrySnell_CPA]

Help us wish the boss and his beautiful wife a very happy wedding anniversary!

So grateful to celebrate your love — here’s to many more joyful years together. ❤️

#love #marriage #AccountsInOrder #SnellCPA

[Barry Snell CPA @BarrySnell_CPA]

Starting a new business? Wondering if you need to incorporate?

Consider this:
An S-Corp ONLY saves you money if the payroll tax savings exceed the added costs of payroll setup, additional tax return costs, and accounting fees.

[Barry Snell CPA @BarrySnell_CPA]

An S-Corp doesn't always save you money on taxes because entity structure isn't a one-size-fits-all solution.

Not only do you have to file a separate tax return for your S-Corp, you must also pay yourself a reasonable salary BEFORE taking distributions.

[Barry Snell CPA @BarrySnell_CPA]

Today as we celebrate 250 years of America, let us remember to fight for freedom for ALL Americans.

Enjoy the holiday.

[Barry Snell CPA @BarrySnell_CPA]

We are closed in observance of the 4th of July Holiday.

Happy 250th Birthday, America!

[Barry Snell CPA @BarrySnell_CPA]

Our office will close tomorrow in celebration of the 4th of July holiday.

[Barry Snell CPA @BarrySnell_CPA]

Wishing our esteemed clients born in the month of July, a very happy birthday!

May your day be filled with love, laughter, and beautiful memories.

#birthday #celebrate #SnellCPA

[Barry Snell CPA @BarrySnell_CPA]

Small Business Owners:

If you gross $1K and under annually, you can opt to complete Form 944 rather than filing Form 941.

Form 944 is not quarterly like the 941; it's filed once to simplify the process of filing Social Security and Medicare taxes.

[Barry Snell CPA @BarrySnell_CPA]

An Independent Contractor is just that -- independent of your company's benefits and control.

They must pay taxes on their wages themselves since they are considered self-employed. They set their own hours, send invoices for their services, & provide services to multiple clients

[Barry Snell CPA @BarrySnell_CPA]

Determining if you have a Business or a Hobby?

✅ Is your intent to make a profit?

✅ Do you expect to make a profit in the future?

✅ Do you depend on the profit to make your living?

✅ Do you make adjustments to improve your profitability?

Check out FB to see more.

[Barry Snell CPA @BarrySnell_CPA]

As tax preparers, it is our job to due our "due diligence" in the eyes of the law & for our professional integrity.

It is our responsibility to ensure that the information you provide is accurate in order for us to stay compliant.

Your cooperation is greatly appreciated!

[Barry Snell CPA @BarrySnell_CPA]

We don't like to see returns rejected by the IRS.

We find that when our clients' tax returns are rejected, it's usually because of someone filing a fraudulent return.

We want to stop this from happening and encourage taxpayers to get an IPPIN from the IRS.

Get yours today!

[Barry Snell CPA @BarrySnell_CPA]

Do you use part of your home for your business?

If you use a space in your home exclusively for your business, you may qualify for a home office deduction.

[Barry Snell CPA @BarrySnell_CPA]

Just a reminder that the IRS does NOT contact you demanding personal info or payments. You know it's a scam if they ask you to pay via Cash App, Venmo, PayPal or Zelle.

If you are threatened with a lawsuit or arrest, it is a scam. The IRS will MAIL you a letter.