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California and Las Vegas Peer Review ~ Kondler & Associates

We are always staying on top of the absolute latest in news and hot topics in our industry – which is exactly what our clients and fellow CPAs should expect. Peer Review News: Did you know that those firms who perform Employee Benefit plan audits should be aware that the US Department of Labor is performing CPA Firm Inspections, CPA Firm Mini-Inspections and Work Paper Reviews? It’s true, and these inspections…

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Kondler & Associates – Peer Review Hot Topics

Fellow CPA ~ Did you know? Standards for Quality Control Systems No. 7 requires firms to maintain a written system of quality control and to communicate its system of quality control to its personnel?  a.       Monitoring of the firms system of quality control is required to be performed by the firm.  b.      As part of this standard, firms are required to evaluate their engagements, set criteria to identify which engagements…

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Las Vegas Peer Reviews ~ The Latest

The news these days is dominated by politics and the state of the economy.  While you stay abreast of what’s happening on these fronts – Kondler & Associates is staying up-to-date on the most recent accounting standards to ensure systems of quality control and procedures comply with new industry standards. This is exactly what you want out of a Peer Reviewer and at Kondler & Associates, we have our finger on the…

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Peer Reviewer – Kondler & Associates

What is a Peer Review?   A Peer Review is just what it sounds like… fellow CPAs (peers) reviewing other CPAs system of quality controls to determine if they comply with professional standards.   If you belong to a CPA Firm with a membership in the AICPA (American Institute of CPAs), you’ve probably had a mandatory peer review as part of your membership requirement once every three years if you performed attest work. There…

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Las Vegas CPA ~ Need more bottom-line results at home or office?

Let us help by outlining Tax Savings to get you there! The first thing most companies and organizations do to increase the bottom line is cut line items like marketing, payroll, and vendor relationships, then re-evaluate insurance plans, equipment rentals, and interest rates on debt.  At home, dining out gets cut along with private school and tuition payments, and of course, the ever popular “latte fund” gets the axe. But…

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FUTA Tax Rate Reduction

Valued Kondler & Associates clients – did you know that effective July 1, 2011, the Federal Unemployment (FUTA) tax rate was reduced from 0.8% to 0.6%? For employers liable for FUTA this means that payrolls with check dates on or after July 1, 2011, will be calculated at this new rate of 0.6%, while payrolls with check dates from January 1, 2011 through June 30, 2011 will be calculated using…

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Las Vegas CPA ~ good news for the public:

Last week, by a 59-39 vote, the Senate passed a reform package which puts safeguards in place to thwart a 2008 financial meltdown “repeat”.   NV Majority Senate Leader, Harry Reid said, “It’s a choice between learning from the mistakes of the past or letting it happen again… for those who wanted to protect Wall Street, it didn’t work.”   So what does this mean for you?   Well, it…

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Attention HOA’s – Kondler CPAs are listening~you need an audit!

Did you just take over an HOA? Getting heat from your Board? If you haven’t had one in a while… the first thing you’ll need is an AUDIT! Books are mess; residents are behind on payments; there’s more foreclosures in the neighborhood than ever before; landscapers aren’t doing their jobs; the former HOA Management Team paid for things it should not have, or did not pay much at all? Sound…

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Think Tax Season is Over? Think Again?

That’s right, April 15th isn’t the only date you need to remember. Did you file extensions this year for your personal, business or non-profit 2009 tax returns?  If the answer is yes, here’s some other important dates for you take note of: May 15, 2010 Deadline for non-profit organizations to file information returns (Form 990), or request an extension (Form 8868) June 15, 2010 2nd quarter estimated tax payments are…

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Tax From the Top: Q&A With IRS Commissioner Doug Shulman

After wall street collapsed,the IRS was charged with being a watch dog for reporting initiatives including a lofty goal of registering all paid tax return preparers.  If you’d like to see how they made out, check out this question and answer section in the Journal of Accountancy featuring IRS Commissioneer Doug Shulman.

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Kondler, CPAs:Keeping Up With Trends in Accounting

GAAP (Generally Accepted Accounting Principals)  record all transactions: cash, accrual, investment, expenses, tax and all other expenses and deductions that may or may not have to be reported on your business’ yearly tax form. Kondler CPAs provide assurance on the financial management and procedures of your private comany. We ensure your financial statements or ‘compilations’ are in accordance with GAAP. We work with you, your management and internal accounting staff…

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Tax Day – Time is running out…

As tax day gets closer and closer, panic may be setting in as you realize you have less than 48 hours to file your tax return for a year that was, “less than ideal” financially.  We can help you make every dollar count even if you’re down on your luck. If you answer YES to any of the questions below – call us TODAY, we’ll help you get through it and…

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Kondler CPAs builds off Las Vegas Review Journal Article…

Change in withholding rules likely to take a bite out of tax returns ~ A few dollars a week ‘doesn’t stimulate the economy’ By JENNIFER ROBISON LAS VEGAS REVIEW-JOURNAL “If the minor earns income and is claimed as a dependent on someone else’s return then they only need to file a return if their total earnings exceed $5,700. The $5,700 is the standard deduction allowed by the IRS for 2009…

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Las Vegas Accountant Raymond Kondler:”Tax Credits to Expire”

In less than 30 days two federal incentives for homebuyers will no longer be available.  The credits which would benefit first time home buyers and repeat home buyers expire April 30, 2010.  There’s an $8,000 tax credit for those first time buyers (defined as not having owned a home in the last three years) and a $6,500 credit for those who have owned the last consecutive five of eight years. Low interest…

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Kondler teams with American Red Cross

FOR IMMEDIATE RELEASE: Local CPA Firm Pledges $20 For Every New Tax Return Filed in its offices to help the Southern Nevada Chapter of the American Red Cross. Las Vegas, NV – March 13, 2010 – Kondler, Chavez & Koch a premier Certified Public Accounting Firm with offices in Las Vegas and New Jersey, announced today it will donate $20 for every new tax return filed in its offices through April 15,…

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Tax Credit Not Just For First Time Buyers

It’s true… and the important date you need to know right now is that you must have a binding sales contract in place BEFORE May 1, 2010 in order to qualify for the home buyer tax credits… and for long time homeowners you have to “close” on or before June 30, 2010. The long time homeowner tax credit is $6500.00 compared to the new home buyer tax credit of $8000.00. …

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Is there a pot of gold hidden in your walls?

Accountants have traditionally limited their assignment of short-term depreciation of building components for Federal Income Tax purposes to the 3-5% of building costs found in furniture and fixtures.  A cost segregation analysis maximizes a building’s tax benefits by identifying, classifying, and segregating a larger percentage of a building’s assets for accelerated depreciation. Depending on the building’s features and usage, cost segregation studies can often identify anywhere from 10% to 50%…

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We use QuickBooks… what are you using?

What Accounting System Are You Using? If your answer to that question is, “I put all my accounting records into a file box and delivering it to our bookkeeper or accountant once a month or once a quarter (the catch up system),” then you really need to pay attention to this article. In most cases, you are better served inputting your accounting data into some sort of accounting software yourself. This allows…

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