Services
News
How Much Assurance Do You Need?
– June 30, 2009
That's a pretty loaded question in this economy. Many small businesses must weigh the costs and benefits each year of a compilation, review, or audit and determine which one, if any, best fits their needs. The following paragraphs summarize the key aspects of each service as well as the levels of assurance provided by each. ...
Read More
New Oil & Gas Accounting Service Offering
– June 30, 2009
In order to meet the growing demand in our marketplace for accounting services to the oil and gas industry, HMV began a new division of our accounting services department that provides specialized accounting services particular to the oil and gas industry. By utilizing our accounting and tax knowledge of the oil and gas industry ...
Read More
Taking a Look at Asset Allocation
– June 30, 2009
Establishing your "asset allocation" usually involves deciding how much of your investment pool of money (retirement plan, personal investments, etc.) you should invest in: ...
Read More
HMV Executive Seminar Series
– June 30, 2009
The second seminar in our 2009 CPA's In Industry Executive Seminar Series took place Thursday, June 18. Several CPAs from HMV spoke on the topics of Annual Business Checkup, Estate Freeze Techniques, and Obama's Budget Proposals and Repeals. ...
Read More
FDIC Limits Extended
– May 21, 2009
Congress recently signed off to extend the FDIC's deposit-insurance limit of $250,000 through the year 2013. The limit was originally raised from $100,000 to $250,000 per depositor through the Emergency Stabilization Act of 2008 signed by President Bush last October. However, this was a temporary measure and set to revert back t ...
Read More
FAQ: Can the first-time homebuyer credit be claimed in advance of a purchase?
– May 7, 2009
No. Many individuals may be considering buying a new home in 2009 as home prices continue to drop in many areas across the country. They may also be wondering if they can claim the $8,000 first-time homebuyer tax credit before actually purchasing the home. Although this might generate a refund you could use as a down payment, th ...
Read More
Determining 'involuntarily terminated' status dealing with COBRA
– May 7, 2009
Individuals who have been "involuntarily terminated" from employment may be eligible for a temporary subsidy to help pay for COBRA continuation coverage. The temporary assistance is part of the American Recovery and Reinvestment Act of 2009 (2009 Recovery Act), and is aimed at helping individuals who have lost their jobs in our ...
Read More
IRS Guidance Fine Tunes Tax Breaks in 2009 Recovery Act
– April 15, 2009
The IRS is moving quickly to issue guidance on the many tax incentives for individuals and businesses in the American Recovery and Reinvestment Act of 2009 (2009 Recovery Act). Since Congress passed the multi-billion dollar stimulus package in February, the IRS has released guidance on the extended net operating loss (NOL) carry ...
Read More
IRS Releases Examinations and Collections Statistics
– April 15, 2009
The IRS has released the numbers behind its activities from October 1, 2007 through September 30, 2008 in a publication called the 2008 IRS Data Book. This annually released information provides statistics on returns filed, taxes collected, and the IRS's enforcement efforts. ...
Read More
2009 Recovery Act Tax Incentives
– March 18, 2009
On February 17, President Obama signed the massive economic stimulus package, the American Recovery and Reinvestment Act of 2009. As I’m sure you have heard, the new law weighs in at nearly $800 billion. Roughly one-third is comprised of tax incentives for individuals and businesses. Congress made many of the tax incentives retr ...
Read More