Summary: Panel E. Scott Sweeney, CPA (email 801-756-3394) Charles Max Wood (twitter github Teach Me To Code Rails Summer Camp) Eric Davis (twitter github blog) Jeff Schoolcraft (twitter github blog) Discussion Why you want a CPA? Accurate Returns Tax Savings Understanding of Tax Code You'll likely wind up paying taxes rather than getting a return. Home Office Deductions Itemizing Your Return Likelihood of getting audited Keep your receipts on every expediture Mileage - Begin odometer reading and ending odometer reading The IRS cannot audit you back 4 year Statute of limitations on fraud is 7 years Tax deadline for 2012 is April 17. Failure to pay penalty Filing an extension avoids the failure to file penalties Officer's salary in an S-Corp or a guaranteed payment in an LLC Wages and salary vs draws and dividends Self employment tax is 13.3% Picks Robbie McDonnell talk on goals (Eric) Freelancing Weekly (Jeff) iOS Biz Weekly (Jeff) Paleo Weekly (Jeff) Freelance Funnel (Jeff) Hootsuite (Chuck) Scott Sweeney CPA (Chuck) Contemporary VA (Chuck) oDesk (Chuck) A good bookkeeper (Scott) Excel (Scott)
