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Preparing for Retirement as Early as Possible: Part II

As discussed in the previous post, preparing for retirement is very important to consider as soon as possible. We are all comfortably aware that we will need to have retirement funds; however, many individuals are not aware of when the right time is to start saving. Here is another tip to help you get ready.Money

  • Discuss It With Your Employer – Assuming that your employer has a retirement plan or account set up for you is not going to end well. It’s crucial for your future to find out what kind of plans your employer can help you set up or if there is anything that you can look forward to at your job after you retire. Often times, an employer will have many saving plan options available that will allow you to begin saving money and preparing for retirement.

Are you looking for a CPA in Hawaii? Michael J. Yuda offers accounting and tax services, as well as other financial assistance when you need it the most. At Yuda.com, you can speak with a representative about your finances today!

Preparing for Retirement as Early as Possible: Part I

Whether you’ve been working for two years or 20 years, preparing for retirement is one of the most important topics on everyone’s mind.

Many working individuals are familiar with the idea of retirement, but are completely unsure of when to begin preparing for it or where to start. If you’re unsure of how to begin preparing for your retirement, there are a few helpful tips that can get you started on this serious decision that will have a positive impact on your future.Tax Form with Fountain Pen

  • Contact a CPA – A qualified CPA is going to be able to give you some guidance on how to begin preparing for your retirement. Since it is never too early to start getting ready, he or she can give you information on handling your accounts, as well as ideal planning on how to save during harsh times. Many certified public accountants have the account experience necessary to provide you with information on any areas related to financial concerns, so a CPA can be a great person to have in your corner for any of your money woes.

Are you looking for a CPA in Hawaii? Check out Yuda.com, today, to speak with a representative!

No Accountant Jokes, Please: How to Speak and Ask Questions to your CPA

financial discussionKnowing your CPA and their work habits can be crucial when you begin working with them. Your company relies on the CPA to stay in touch and create a comfortable working relationship. Here are a few questions to be sure and ask your CPA.

  • How Often Will We Be in Communication? – Asking this first important question gives you a realistic idea of when you can expect to hear from your CPA. Also, consider following up with an additional question: What is the best way to contact you? This question is also important to know that you are reaching out in a way that will be most convenient and time efficient for both parties.
  • How Will You Benefit My Business? – Asking this next question is useful in seeing what the accountant plans to bring to the table. Keep in mind that there are plenty of CPAs out there, and the best ones will be looking out for your business, as well as their own.
  • Do you have other clients that have a business similar to mine? – This question is useful in understanding competencies. If you don’t have accurate references for your new CPA, consider asking this question. It will give you a better idea of how they will perform for you in the future.

Are you looking for accounting firms in Hawaii? Check out Yuda.com for more information and to schedule an appointment to ask some of these important questions!

How Do I Choose a CPA?

Accounting

When choosing a CPA for your business, there are a few criteria that they should meet. Here are a few great ways to get started picking a CPA for your company financials.

  • Education – Finding the education status of the CPA is the first step in deciding if they are a right fit for your company. Make sure to check references to see if a BA or license was received by the CPA. Levels of education and experience can be achieved at different times in the person’s career. Try to look for a CPA with work experience or an internship if they do not currently have steady clients.
  • Size – Think of the current size of your business. Also, consider how many employees, paychecks and tax forms your company will be responsible for, for the upcoming year. When deciding on a CPA, think that the firm should match your company size. If you have 3 employees and limited tax-documents, consider a CPA with fewer clients and good reviews. If you company reaches employee numbers in the thousands and have tax documents year-round, consider a firm with many CPAs who can work jointly for your business.

Are you currently looking for a CPA in Honolulu? Check out Yuda.com for more information and to request an appointment!

End of the Year Tips to Maximize your Tax Refund

iStock_000045491268_LargeIt seems that tax season ended just yesterday, but a new season is upon us. Like most Americans, we’re sure that you’re looking for ways to pay no more than what you owe, and even boost your tax refund. Below are a few tips at maximizing your taxes this upcoming season:

  • Travel for work? See the doctor often? Don’t shy away from tax deductions. Believe it or not, but a lot of things add up without you knowing it. Keep a log of tax deductible activities and see if it’s worth writing them off. The same holds true for charitable deductions, and even moving fees if you relocate to a new home.
  • You have until April 15 to open a traditional IRA for the previous tax year.  Typically, traditional IRA contributions reduce taxable income.
  • Consider scheduling health-related exams during the last quarter of the year to boost medical expense deduction potential.  It’s actually been proven that taxpayers who pay particular attention to the calendar improve their chances of receiving a larger refund than those who don’t. Paying property taxes or things like your mortgage before the end of the current year can actually yield a larger refund. Make the calendar your best friend!

Don’t forget that when you’re looking to truly maximize your tax refund to seek out the premier CPA in Hawaii! Visit Michael J. Yuda CPA, LLC today!

Why Choose a CPA as your Tax Consultant?

Why hire a CPA to do your taxes?

For many, the idea of doing taxes is equivalent to a nightmare.  Tax laws are tricky all on their own, but the manner in which they are always changing makes keeping up a daunting task.  When preparing to file your business or personal taxes, consulting a CPA can help ensure that your taxes are done correctly.  Simple errors and mistakes in your tax form can cost you penalties with the IRS, and nobody wants the IRS breathing down their backs!  Having your taxes prepared by a CPA can save you from making errors, and help ease the stress of having to figure out how to do them yourself.

In many instances, a CPA will save you money by assuring that you claim all deductions that you are entitled to.  We know the laws and what you are legally entitled to claim to avoid tax penalties.  With extensive training and testing, a CPA tax professional is familiar with state and federal laws, and will help you get your taxes done correctly and quickly.  Using a CPA tax consultant makes taxes seem not so scary anymore. Let a professional handle your tax return preparation, so you can go out and enjoy the sun!

Aloha!

Here we go!

This is my first blog experience folks, so thanks for bearing with me.  My goal is to provide you with some useful information that you will be more than thrilled to learn about, while at the same time making a very earnest and valiant attempt to be interesting, possibly entertaining and therefore not bore you to death!

For those of you who don’t know me, let me start out by telling you that I live and work in Hawaii, and yes, it really is wonderful.  The weather, scenery and lifestyle are unsurpassed.  I actually moved here from Westlake Village, California, which is a suburb of Los Angeles about 20 minutes inland from Malibu Beach.  Although California is great, it was time for a change and I was always drawn to Hawaii.  I moved here full-time in April of 2008, and have never looked back.

Professionally I am a CPA and work closely with my wife Misa, an accountant and QuickBooks ProAdvisor.  If you want to learn more about our background, please click on the “About Us” tab abbove.  And yes, isn’t that unusual that my domain name is my last name?  Believe it or not, when they first started offering domain names for sale, I quickly purchased www.yuda.com.  And no, it is not for sale!  It’s all mine!

I will try to provide you with some useful tax and/or QuickBooks tips in the future, interspersed with Aloha from Hawaii.  If you have any ideas or suggestions, please let me know.

In the meantime, taking advantage of my last name, I have a question to ask you.  Who’s the man to handle all of your tax, accounting and QuickBooks bookkeeping needs?  YudaMan…

Aloha!