Office Closed Due to Hurricane Irma

Our office will be closed due to Hurricane Irma starting Friday September 8th and we hope to reopen on Tuesday September 12th.

If you need assistance while we are away.  Please e-mail us and we will try to respond to your requests as we are available.  We apologize for any inconvenience.

If you will be affected by the storm here are some guidelines to follow.

Hurricane Post

All the best to you and your family during this time.  Please be safe!

The W. H. O’Connell & Associates Team

 

 

 

 

 

 

 


Office Closed for 4th of July Weekend

Please note our office will be closed on Friday, June 30th and will re-open on Wednesday, July 5th for our staff to enjoy the holiday weekend with friends and family.

american-flag-pictures-with-fireworks-i4

Wishing all of our clients and friends a happy and safe holiday weekend!   If you’re staying in St. Augustine make sure to check out some of the great events going on around town.

St. Augustine Social: Everything You Need to Know About 4th of July in St. Augustine

Old City Life: 4th of July in St. Augustine

Happy Independence Day!

The W. H. O’Connell & Associates Team

 


10 AWESOME Year-End Tax Planning Tips

p1a2lc440m1h86q5m10pq5mnrje6The clock is ticking as we go into the final months of the 2015 tax year.  Stay ahead of the game for this upcoming tax season with some great tips we found!

Check out this very informative and useful article we came across on Accounting today:  Accounting Today: Top 10 Year-End Tax-Planning Tips

Stay updated with us,

The W. H. O’Connell & Associates Team

 


QuickBooks 2016

Quickbooks-Logo-2014-new-300x76It’s that time of year, Intuit has released QuickBooks 2016!

If your small business is thinking of upgrading your current version of QuickBooks Pro here is a quick look at new features offered by year.

QuickBooks Pro 2016 Comparison

We also found a tour highlighting the new features offered in QuickBooks Premier, most of which are also included in Pro.   Some highlights include:  E-Invoicing to help customers pay invoices to your business directly via credit card or bank transfer.   Also noted is the new ‘Bill Tracker’ feature that allows you to view all your bills in one place, so there’s no need to run reports to fully capture your Accounts Payable – it’s now all in one place.

Check it out for yourself:  QuickBooks Premier 2016 Tour

Whether your business is considering utilizing QuickBooks for the first time or if you are thinking of upgrading, we recommend taking the time to allow our Business Services Team set up your company files to get your business off to the right start and ensure you are purchasing the optimal software package.

Stay updated with us,

The W. H. O’Connell & Associates Team

 

 


Standard Mileage 2015 Rate Increase

For 2015, the standard mileage rate will increase from 56 cents to 57.5 cents. If you own your own business and take your auto expense deduction based on the number of miles you drive you will benefit from this tax deduction, even if the increase is primarily supposed to cover standard vehicle costs.

See IRS update: IRS Standard Mileage 2015

Mileage deductions can only be taken for vehicles that your business does not own, otherwise you must take the actual costs for fuel, maintenance, repairs and applicable depreciation to compute your auto expense for the year.  It is important to way out the advantages or having a vehicle in the company’s name or your own.  Make sure to consult with your tax professional before making your next purchase, most of the time it all depends on the insurance required on vehicle, if employees have access to use vehicles, legal liabilities and how often you buy new vehicles and their costs.

Fun facts!  You can also write off your vehicle mileage for other things when doing you individual taxes. Rates include any medical-related mileage is 23 cents and for service of charitable originations is 14 cents. Although it may seem relatively small, every little bit counts when you trying to get your maximum tax benefit for the year.

Always keeping you updated,

The W. H. O’Connell & Associates Team