MapQuest has a new feature which allows you to calculate the mileage expense reimbursement for your trip. The reimbursement calculation is based on the IRS rate for 2012 of $0.555/mile. Once you enter the to/from routes, it will give you an estimated reimbursement for the suggested route. Once you determine the route you would like to take, click on “Calculate” (in blue) and a pop-up box will appear.  Make sure to click “Calculate for: Reimbursement”, as shown in the picture below.

 

 

If you would like MapQuest to calculate the round trip reimbursement amount, click on the box next to “Round Trip” directly above the “Get Directions” button. See below:

 

 

When you print out your MapQuest directions the mileage calculation will be included on the front page. For additional information visit Mapquest.com.

SIX NEED TO KNOW TAX DEDUCTIONS FOR SMALL BUSINESS OWNERS:

New Hire Retention Credit An employer may receive a credit of up to $1,000.00 for each eligible employee.
Small Business Health Care Tax Credit Small business employers who pay at least half of employees’ insurance premiums may be eligible for 35 percent credit of premiums paid.
Section 179 Deduction Enables small businesses to deduct up to $139,000.00 of machinery, equipment, vehicles, furniture and other qualifying property.
Bonus Depreciation Enables businesses to deduct half the cost of qualifying property in the year it is placed in service.
Retirement Savings Contribution Credit Taxpayers have until April 17, 2012 to set up a traditional IRA or contribute to an existing one and still have it count for 2011.
Standard Mileage Rate Increases The mileage rate for business miles driven increased to 55 ½ cents a mile effective June 30, 2011.

Top Jacksonville CPA Firm

We are in the midst of tax season and hiring a well qualified CPA can make the difference between a stress free and cumbersome experience. Working with the top Jacksonville CPA firm can be a vital part of your tax and financial planning experience. A certified Public Accountant, also known as a “CPA”, is a professional who provides tax planning services and represents individuals and business with tax issues. As with any professions, there are levels of experience and expertise. When searching for a CPA, you should work with the top Jacksonville CPA firm in order to ensure the advice and representation you deserve. Our CPA’s can file your tax return as well as work with your to organize your finances.

In order to avoid the stress of tax season and other financial issues, you should seek a CPA who is proactive. A proactive CPA will meet with your prior to the tax deadline and maintain contact throughout the year to update your financial profile. A qualified CPA will also work with you to create strategies to help you grow financially as well as foresee the implications on your tax obligations. The tax code can be complex and by working with the top Jacksonville CPA firm, you can be assured that you are well supported.

We understand that selecting a CPA can be a difficult decision. It is important to find someone you can trust to assist your individual and business needs. After all, you are placing your financial future in their hands. Because of this, you should only plan to work with the best and consult Buttner Hammock and Company, the top Jacksonville CPA firm.

Buttner Hammock and Company, P.A. (BHC) has been serving the bookkeeping, accounting and auditing needs of individuals, businesses and nonprofits organizations for nearly three decades. We take a great deal of pride in our ability to serve the community by strengthening businesses with our exemplary service.

By working with the top CPA firm, you can expect personalized service. We base our success on your success. Among Jacksonville CPA firms, we are pleased that we have been able to maintain an impressively high client retention rate. We work with small new starts as well as established corporations. We provide business solutions aimed to help our clients run more efficient, cost-effective and compliant companies. We would like to have an opportunity to work with you and provide assistance with your individual and business needs. As the top CPA firm in Jacksonville, we offer a full range of accounting, auditing, legal and business support services.

Butter Hammock & Company P.A.

4237 Salisbury Rd, Bldg 1 Suite 100

Jacksonville FL, 32216

If you require a CPA firm in the Jacksonville area to help with your taxes or business accounting needs, then you should definitely try to find the very best one in town. This isn’t as difficult a process as it may first seem. Actually, it’s quite easy if you know how to go about it.

When you’re looking for the highest CPA firm ranking in the Jacksonville area, some of the best places to start are using the knowledge and experience of your local professionals. This includes your banker, attorney, physician, dentist, financial advisor, and also your local businessmen. They all require high quality accounting services to be performed on a regular basis so it’ll be quite easy for them to suggest to you how to find a top CPA firm ranking Jacksonville area.

Firm rankings are based on many elements. They include experience, skill sets, expertise in the specific accounting niche you’re looking for, as well as turnover time, reliability, integrity, and overall professionalism. The references you receive for a top CPA firm ranking Jacksonville area will immediately lead you to some very prestigious firms.

Moreover, you can also search via your local Jacksonville chamber of commerce and better business bureau. They have extremely helpful and knowledgeable staffs who can quickly help you locate and select a prestigious CPA firm ranking Jacksonville vicinity. Simply inform them of exactly who you’re looking to make contact with, and ask them why certain firms may have a major CPA firm ranking Jacksonville area. They’ll be more than happy to assist you.

You can also search online. Read some of the major CPA firm websites so you can get a strong idea of which ones comes across as most credible and competent. Once you have assessed several, it’ll be easy to quickly narrow it down to only one or two until you’re finally able to decide who has the highest CPA firm ranking Jacksonville area. This effort won’t require much of your time and due diligence.

When your search efforts are over, it’s highly likely you’ll have come to the excellent conclusion that the business with the highest CPA firm ranking Jacksonville area is none other than BHC. They will stand head and shoulders above everyone else because of their personal commitment to your financial integrity and privacy. They have the best expertise in all areas of accounting, including tax preparation services. They have served hundreds of businesses over the years in the Jacksonville area.

Hammock & Associates, PLLC

4237 Salisbury Rd, Bldg 1 Suite 100

Jacksonville FL, 32216

Your Top Jacksonville CPA Firm – Buttner, Hammock, and Co.

Financial statements are an important part of any business. They are used not only internally for business planning purposes, but also will be handed over to external business for loan applications, audits, and compliance reviews. Your top Jacksonville CPA firm is available to put together financial statements that are professional and, above all, highly accurate.

It does not matter if your company employs ten people, or is in twenty states and employs a thousand people. The expectations of financial statements are incredibly high, and these vital documents should never be left to amateurs. Even those companies with accountants on staff can benefit from having your top Jacksonville CPA firm look over the documents that were prepared in house.

In addition to the external uses for financial statements, having properly prepared and accurate statements is vital for running the business. When your top Jacksonville CPA firm prepares the statements, you can rest assured that you will be basing your decisions on documents that are completely accurate and honest. The only way to understand the true health of your company is to have an accurate, unbiased, honest picture.

Your top Jacksonville CPA firm takes great pride in their work, and consistently creates statements of the highest quality. The BCH name carries a high level of credibility, because users know that we only produce top quality statements. Banks, lenders and other individuals will know they are seeing honest and accurate statements when they see the BHC name proudly stamped on your financial statements

Not every business has the same needs, and for that reason, we offer a range of services for your business needs. Your top Jacksonville CPA firm offers compilation services for financial statements that will be used both internally and externally. Along with the statements, you will also receive a report confirming that the financial statements were prepared using AICPA professional standards. Compilation services do not include a great deal of investigative work, and carry “no assurance” from our firm.

Review services include a compilation, as well as a more in depth analysis to your company’s recordkeeping and accounting procedures. Unusual items that require explanation will also be reviewed in greater detail. This service involves a higher level of research and investigation, and carries a “limited assurance” from our firm.

Audit services are the highest level offered by your top Jacksonville CPA firm. Your business and all internal accounting procedures will be examined closely in an audit that can only be conducted by licensed CPA’s. This procedure includes all services offered in a compilation and review, as well as search and verification procedures. Audits offer “reasonable assurance” that the statements are reasonably accurate as stated and that the risk of material misstated information is low.

Your top Jacksonville CPA firm, BHC, works closely with your company to provide the highest level of service, along with the most professional and accurate statements for your company.

Butter Hammock & Company P.A.

4237 Salisbury Rd, Bldg 1 Suite 100

Jacksonville FL, 32216

How a Jacksonville CPA firm can help your small business

It might seem frugal for small business owners to try to do their own accounting and tax preparation, but the expert help available from Jacksonville CPA firms could actually save money in the long run.

There are several ways CPA firms in Jacksonville can help Florida businesses. The most important reason to go with a professional CPA is they are required to stay abreast of tax codes and to understand how businesses can be affected when changes occur. That could save a small business hundreds or even thousands in tax breaks that might otherwise have been overlooked.

Expect Wide Range of Services

It is important to realize that a CPA can be more than just a bookkeeper or tax preparer for small businesses. The best Jacksonville CPA firms can act as a valued resource for business and legal advice too.

CPAs can help project the cash flow a company might expect or assist in planning a budget for a company’s finances. CPAs can provide analytics and data to help small businesses reduce risk. CPA firms in Jacksonville can even help small businesses find finance capital to help Florida companies grow and thrive.

What to Look for in Jacksonville CPA Firms

A small business that chooses its CPA based entirely on the lowest quote is not looking at the whole picture. Businesses should take time to evaluate the features and qualities that make a great CPA and strive to form a partnership.

Leading Jacksonville CPA firms will be pleased to show their industry and educational credentials. Ask about the educational qualifications of the firm’s associates. Ask for proof of licenses and permits that are required of professional certified accountants in Florida. Meet with CPA associates to get a sense of the company’s approach to accounting. Ultimately, it can be possible to form a trusted bond with a CPA firm that is based on shared goals for the business.

Expert Legal Advice

One of the best things about a CPA can be their ties to various legal entities. Jacksonville CPA firms that are well-connected to the legal field can seek out the counsel of legal professionals to discuss tax matters and other financial issues. The CPAs access to legitimate legal advice can be an invaluable resource for the benefit of a small business.

Look for the Professional CPAs

Professional organizations for CPAs can provide clues to find quality Jacksonville CPA firms. CPA organizations require members to follow a strict professional code of ethics and provide high quality work. CPA firms in Jacksonville with professional memberships are likely to be dedicated to service and excellence.

Butter Hammock & Company P.A.

4237 Salisbury Rd, Bldg 1 Suite 100

Jacksonville FL, 32216

The Best Jacksonville CPA Firm

As the best Jacksonville CPA firm, Hammock & Associates, PLLC offers their clients a full array of services, and they have gained national recognition as well. The CPA services (basic bookkeeping, peer review and litigation support—along with everything in between) that they provide are sure to include the elements you need to help your business run smoothly and succeed.

What Hammock & Associates, PLLC can do for you

The firm understands that individuals, organizations and businesses alike may feel overwhelmed at times by the complexities of America’s local, state and federal tax codes. But as the best Jacksonville CPA firm, they are ready to provide the customized service, experience and expertise you need to cope with this legislation calmly and confidently. For example, through the tax services they offer, BHC can help you comply with the law, save money, and benefit from the various tax incentives available to you, such as rebates and credits.

Working for Your Business

Because of their reputation and the contacts they have established within the legal system, the best Jacksonville CPA firm will be on your side whenever you have to appear in court on a business matter. They are experienced in providing both litigation support and expert testimony on every level.

Hammock & Associates, PLLC Experience

When compared to other CPA firms in the area, BHC can point with pride to a remarkable client-retention rate that is directly related to the way in which those businesses have thrived since their relationship began. This includes both startups and well-established companies that are operating in an efficient, cost-effective manner because of the various services BHC has to offer and the help they are ready to provide.

In Florida, accounting firms are able to choose those firms that perform peer reviews on a firm-on-firm (FoF) basis, and as the best Jacksonville CPA firm, BHC has conducted a number of them throughout the state. The American Institute of Certified Public Accountants (AICPA) urges firms to select their reviewers based on these essential elements: value-added, efficiency and cost-effectiveness, and this explains why BHC has filled this role so often.

For more information about BHC, phone 904-302.9268.

Hammock & Associates, PLLC

4237 Salisbury Rd, Bldg 1 Suite 100

Jacksonville FL, 32216

Jacksonville CPA Services for Small Businesses

Independence and freedom to manage your small business according to your own vision is likely what drove you to become an entrepreneur in the first place—but when it comes to planning, running and growing your business, you shouldn’t go it alone.  The U.S. Small Business Administration (SBA) states, “a CPA is one asset you can’t afford to do without” as you tackle the challenges of owning a small business in Jacksonville. CPA services for small businesses factor into your success in the following ways:

Planning a Small Business in Jacksonville

Small businesses begin with a creative spark, but they come to life thanks to the debt, bank loans, interest and assets that make up your business’s financial structure. Your CPA will help you finance your ambitions by determining how much debt your venture can handle, how to approach investors and the advantages and disadvantages of different debt instruments, such as loans and lines of credit.

At Buttner Hammock & Co., we can take that one step further by helping you with the organizational structure of your business as well. Because we’ve worked with so many small businesses in Jacksonville, we can give you sound advice on the optimal structure for your business as well as issues such as insurance, disaster planning, establishing a board of directors and acquiring commercial property in the Jacksonville area.

Running a Small Business in Jacksonville

Year-round tax planning and tax-seasons preparation—from payroll to deductions and sales tax—are the duties that first come to mind when most small business owners think of CPAs. But CPAs also play a large role in your accounting and general finance, such as when you need to determine the value of your business or analyze your operating costs. A CPA can also help you improve and streamline your day-to-day operation through an internal audit.

Growing a Small Business in Jacksonville

Traditionally, CPAs have played an instrumental role in determining compensation levels for small businesses. CPAs can also advise you on hiring decisions and how to structure your benefits, insurance and stock options.

With the increasing complexity and application of technology, CPAs now shoulder an additional crucial responsibility as well. CPAs can help your small business incorporate state-of-the art accounting systems, such as QuickBooks, that will help you stay compliant and streamline your daily operations and accounting duties.

Conclusion

As a small business owner, placing your trust in a CPA is a key element of achieving success. When you entrust your business’s financial future in a CPA, you’re tapping into a firmly established culture of professional standards and ethics that is backed by extensive peer reviews and a tradition for integrity. Choosing a CPA is much like gaining a new partner in your

Jacksonville CPA Services for Restaurants

If you are a budding restaurateur, chances are you’re a devoted foodie or an incurable people person. But how many restaurant owners get into the food service business because of their passion for numbers? Our guess is very few, which is why about three in five new restaurants go under or change ownership within the first three years. But not to worry, you don’t have to go back to night school and get a degree in accounting to run a successful restaurant—as long as you have a CPA on your side.

As a Jacksonville CPA firm that has served local restaurant and retail businesses for over 25 years, here’s how we can help you:

Tips and Wages

How servers, bartenders and line cooks are compensated is just one of the unique accounting aspects of running a restaurant. Our CPA services for restaurants includes a compliant and advantageous plan for reporting tips and other wages.

Federal, State and Local Taxes

The amount and types of taxes you are liable for vary widely depending on your location, right down to the street corner. A CPA can help you take advantage of local tax incentives and stay compliant with the rest of your liabilities come tax season.

Audits

Restaurant owners are exposed to a number of audit risks, from inquiries by the Internal Revenue Service regarding sales taxes to Department of Labor wage and hour audits.  With a CPA on your side, you can reduce your chances of being audited and protect yourself from liability connected with these audits.

Food and Liquor Costs and Taxes

How much should you charge for your food and liquor in order to turn a profit? And how should local, state and federal liquor sales taxes be factored in? These are questions best answered by a CPA.

Buying or Selling a Restaurant

Whether you’re planning on taking an existing under new management or considering selling your restaurant to a new owner, there are a number of complex financial and tax issues to unravel. From valuing your inventory, equipment and intangibles to accurately reporting and paying your taxes, a CPA’s sound advice can be invaluable while buying or selling a restaurant.

At Buttner Hammock & Co., our experience working with restaurants in the Jacksonville area along with our prestigious status as members of the American Institute of Certified Public Accountants can help you turn your restaurant into a financially sound business. Call us at (904) 302-9628 for more information.

Jacksonville Income Tax Return Preparation

At Buttner Hammock and Company PA (BHC), we help hundreds of individuals file their income tax returns every year. Tax filers come to us for peace of mind when filing their annual income tax returns, but they often leave with a smaller yearly income tax payment and a firmer grasp on how to strategize their taxable income for the coming year. Wondering if you should see a CPA for your individual tax return? Ask yourself some of the questions below to help you decide.

How Well Do You Understand the Income Tax Filing Process?

W-2s, 1099s, pay stubs, tax forms from employers—that’s the easy stuff that most responsible individual tax filers know how to handle. But do you know how to file deductible expenses, such as home mortgage interest, student loan interest and charitable contributions? If you started a business this year, do you know which schedules, forms and supporting documentation you’ll need in order to report your income and expenses?

If you are a full-time employee, don’t own your home, don’t have any additional income and don’t have kids or dependents, your individual tax return will be fairly straightforward and you can probably go it alone. But for each of the abovementioned circumstances that gets introduced, your individual tax return becomes exponentially more complex, meaning it’s likely worth your while to hire a CPA.

Did You Buy or Sell Stock This Tax Year?

If you buy or sell stocks, mutual funds or other securities, you’ll have to fill out Form 1040 Schedule D, which can get somewhat complicated. If you profited from your investment, you’ll have to pay capital gains taxes, but if you lost money on the transaction, you are entitled to take a deduction. However, there are a litany of rules that determine how much you can deduct or how much you have to pay.

If you’re less than confident on how to report losses or gains from stock transactions, hire a CPA for your individual tax return.

Do You Know How to File Your Jacksonville City Taxes and Your Florida State Taxes?

There is a wealth of resources and guides that can help you file your federal income taxes, but don’t forget that you have to pay taxes to the City of Jacksonville (or whichever municipality you file in) and the State of Florida. Many of the complexities that crop up on the federal level are also issues for state and local tax filing, but invariably, the rules, rates and requirements are a bit different. A local tax preparation expert on your side is going to be your best bet here.

Will Worrying about Your Individual Tax Return Keep You Up at Night?

There are some of us who double-check or even triple-check our work, pore over the tax filing directions and agonize over every detail on our individual income tax return and still spend the next few months worrying that they’ll be audited or penalized. And there’s good reason for that—there are a lot of bases to cover, and as an individual tax filer, what you don’t know that you don’t know about the tax code nearly exceeds the gaps in your knowledge that you are fretfully aware of. Even the most diligent do-it-yourselfer occasionally misses an opportunity or overlooks a technicality that an experienced might CPA catch easily. Furthermore, if something goes wrong with your individual tax return, you’ll have your CPA to back you up in redressing the issues or defending your case to the IRS. Not that a good CPA won’t help you if you file on your own and get into trouble, but if you start out with a CPA on your side, things will go much more smoothly if you are audited.

Bottom-line: If you are at all unsure about how to file your individual income tax return, contact a CPA. The investment you make towards hiring a professional can often pay for itself in tax savings, and the peace of mind you’ll receive is absolutely priceless.