Wilson Toellner CPA

Small businesses are the backbone of this community and we like to support them in any way we can. We know how difficult it can be for a business owner to balance their bookkeeping and everything that goes with running a successful business. This is why Wilson Toellner CPA provides accounting services in Mid-Missouri . If you need assistance with your bookkeeping, call our firm nearest you. Our phone numbers are listed at the end of this blog. We've been asked several questions by small business owners and today we are going to answer some of those frequently asked questions (FAQs). Small Business Accounting FAQs  Q: How do I know if this business expense is tax deductible? A:  Typically, if you made a purchase that was absolutely necessary for your business then it's tax deductible. But, the IRS can change the rules on what is and isn't tax deductible each year. With this in mind, it's a good idea to have a professional handle your business taxes because the ...

You should try and do everything you can, as a business owner, to prevent an IRS audit of your business from happening. There are certain red flags to avoid - that may trigger such an event. Our accounting firms at the Lake of the Ozarks are here to help you by naming a few. If you are interested in having someone check over your business and give you constructive solutions, call the Wilson Toellner CPA firm nearest you. We have four conveniently located firms and the phone numbers for each are all located at the bottom of this blog. Red Flags That May Trigger an IRS Audit of Your Business Abnormal High Salaries Unfortunately, there are people who will try to get away with paying themselves too much. For example, a business owner, making up a "fake employee" and claiming that "fake employee's" paycheck. Something like this could absolutely trigger an IRS audit. Also, according to Kiplinger , IRS statistics for 2016 show that people with a yearly inco...

Whether you are planning for retirement, college, or saving for a house, there are certain mistakes you will want to avoid throughout the process. Make things easier on yourself and have a structured plan early on. A properly structured financial plan enables you to face any financial challenge that may present itself at each stage of your life. If you need assistance with the financial planning process, our accounting firms at the Lake of the Ozarks can help you assess your financial needs and develop strategies that will enable you to achieve your goals and strengthen your financial security. For financial planning help, call the Wilson Toellner CPA firm closest to you. We have four conveniently located firms throughout Central Missouri - Sedalia, Marshall, Camdenton, and Lake Ozarks. You will find their phone numbers located at the end of this blog. Keep reading for a few financial planning mistakes to avoid. Financial Planning Mistakes to Avoid RETIREMENT Not saving...