BHM CPA Group

“LTD” is the abbreviation for “limited company.” A limited company is a type of corporation that limits the personal liability of the corporation's shareholders.

“The best and most beautiful things in the world cannot be seen or even touched - they must be felt with the heart.”

The Time Value of Money is a concept that cash flows of equal dollar amounts separated by a time interval have different present values because of the effect of compound interest.

If you are like millions of taxpayers in the service industry, you may receive tips. The tax code is clear; if you receive tips you must report them as income. Some employers have systems to make this easy, while others do not.

Your adjusted gross income (AGI) is your taxable income minus certain deductions. It’s a key number because the IRS uses your AGI to determine whether you qualify for other tax credits or deductions.

An LLC is a corporate structure where members cannot be held accountable for the company’s debts or liabilities. This can shield business owners from losing their entire life savings if, for example, someone were to sue the company.

Respect is what we owe; love, what we give.

Ordinary Dividends are corporate distributions paid out of the earnings and profits of the corporation.

Tax Planning 101: Gross Margin is a percentage calculated by taking Gross Profit and dividing by Revenue for the same period. It represents the profitability of a company after deducting the Cost of Goods Sold.

A W-4 Form is an Employee’s Withholding Allowance Certificate and is completed by the employee and used by an employer to determine how much to withhold from an employee’s paycheck for federal income tax purposes.

“We need to accept that we won’t always make the right decisions, that we’ll screw up royally sometimes―understanding that failure is not the opposite of success, it’s part of success.”