Straight Talk CPA - Blog

Is a Roth Conversion Right For You?   Posted by: Salim Omar

  In the midst of COVID-19 and the resulting stock market crash, many investors are wondering whether they should continue contributing to their retirement account, or whether they should look into a Roth conversion. A Roth conversion is where…

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Give Your Team a Sense of Urgency   Posted by: Salim Omar

Challenging your employees to do their best work instead of the bare minimum requires a sense of urgency. Here’s some advice for getting the most from your people. Get Specific Tell employees what problems your organization is facing, and…

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10 Things You Can Start Doing Immediately   Posted by: Salim Omar

The pandemic has hit us fast and furious. The current crisis is forcing us to change the way to live and work. If you are reading this, you’re probably in an accounting firm. But these suggestions apply to many…

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How to Keep the Drive Alive In Your Company   Posted by: Salim Omar

When you’re the CEO and in charge of a team, good planning is essential. Build your team around these crucial elements: Structure Roles and responsibilities need to be firmly established for everyone, from the leader to the most junior…

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5 Tips for Setting Up Your Home Office   Posted by: Salim Omar

Although many organizations are accustomed to flexible and remote work, this marks the first time that we have seen virtual teams operating on a global scale. And we’re not talking about the traditional home offices we once knew. Team…

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COVID-19 Tax Deadline Changes   Posted by: Salim Omar

  You may have heard about the 90-day tax payment extension due to the coronavirus pandemic. As of March 20, 2020, the Treasury Department announced the extension of Tax Day to July 15, 2020, including the filing and payment…

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Unlock Tax Deductions with a Rental Property Home Office   Posted by: Salim Omar

It’s a new year, which means a new opportunity to save on taxes. One way to create valuable tax deductions is to establish a home office for your Schedule C or corporate business. And just in case you didn’t…

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The SECURE Act: Eight Important Changes You Need to Know   Posted by: Salim Omar

Just before the holidays, Congress passed some meaningful tax regulations. One of the new laws passed on December 2019 is the Setting Every Community Up for Retirement Enhancement Act of 2019 (also known as the SECURE Act). Through the…

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Unconventional Advice for a Stellar New Year   Posted by: Salim Omar

With the start of each new year, many take to making resolutions to improve their personal lives and their businesses. However, the element that they don’t pay attention to is that DOING those resolutions is more important than the…

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You Didn’t Issue a Form 1099. Now What?   Posted by: Salim Omar

The deadline to issue Form 1099s to your contractors is fast approaching, on January 31, 2020. But what happens if you forget to issue them? You’re probably already thinking the worst: You’ll get audited, and the auditor will tell…

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