Since 1985, Mike Raitt, CPA has been providing quality, personalized financial guidance to local ind
Mike Raitt, CPA provides a wide range of services to individuals and businesses in a variety of industries. At Mike Raitt, CPA, we strive to meet each client's specific needs in planning for the future and achieving their goals in an ever-changing financial and regulatory environment. Our professional services include:
Tax Management Services
Estate and Trust Planning and Tax Preparation
Bookkeep
ing/Write-up
QuickBooks Accounting Help and Assistance
Employee Benefits, Pension, and Profit-Sharing Plans
Financial Projections and Forecasts
Accounting Services
Financial and Retirement Planning
Entity Selection and Restructuring
Payroll Services
Cash Flow and Budgeting Analysis
Tax Management Services
At Mike Raitt, CPA, we guide our clients through a full range of tax planning and preparation decisions with strategies that minimize your tax liabilities. Our expertise, experience, analysis and thorough research allow us to optimize financial opportunities to be found in existing as well as recently altered tax laws. Request information about Tax Management Services below
Accounting Services
From start-ups to established enterprises, businesses rely on accurate and insightful financial information in order to maintain profitability and capitalize on new opportunities. Mike Raitt, CPA accounting services steer you closer to these goals with accurate record-keeping and reporting as well as support on financial issues such as initial accounting system setup, cost-containment, tax planning, investments, and employee benefit and profit-sharing plans. These services include but are not limited to:
General ledger and financial statement preparation
Bookkeeping (Monthly, quarterly, or annual)
Accounting system setup and support
Payroll processing
Cash flow budgeting and forecasting
Personal financial statements
Employee benefit and profit-sharing plans
Corporate tax planning and return preparation
Litigation support
Request information about Accounting Services below
Estate and Trust Planning and Tax Preparation
Effective estate and trust planning can ensure financial security for loved ones. For businesses, it can maintain a smooth succession of ownership. Mike Raitt, CPA's role is to help you navigate the complex and shifting tax laws to facilitate the transfer of assets and minimize the tax liability of your beneficiaries. Everyone should have a well-thought-out plan as to how to distribute the assets left in one's estate so as to avoid complications and to be sure that the individual’s wishes are followed. Having your taxes and estate thoroughly and carefully planned will ensure that your loved ones don't have any complications to deal with during a time of loss. Request information about Estate and Trust Planning and Tax Preparation below
Financial and Retirement Planning
Mike Raitt, CPA's goal is to help you reach your financial goals and maintain financial independence through a comfortable retirement. We can guide you through tough decision-making processes such as asset allocation, investment performance monitoring, college education funding, retirement plans, insurance, and tax, estate, and business succession planning. Whether you are developing an investment strategy or evaluating current investments, Mike Raitt, CPA can ensure that your portfolio will take into account tax implications for an advantageous after-tax return. The road to retirement is a long one and we can help you to take the proper steps to reach your goals. Request information about Financial and Retirement Planning below
Bookkeeping/Write-up
Accurate record-keeping is essential to a successful business yet can also be complicated and time consuming. Mike Raitt, CPA can help you with the organization and day-to-day tasks of bookkeeping so that you can focus on your core business. Request information about Bookkeeping/Write-up below
Entity Selection and Restructuring
Your business entity has a large impact on your taxes and other liabilities. From your company's inception through its growth and development, Mike Raitt, CPA can advise you on choosing an entity type and later restructuring if advantageous. With our knowledge and expertise, you will always be receiving the most advantageous entity type for the functions your business performs. Request information about Entity Selection and Restructuring below
QuickBooks Accounting Help and Assistance
QuickBooks can provide useful and timely information in the form of financial statements, reports and graphs. However, it can only provide this information if you purchase the right product and then install, setup and use it properly. We don't just help you use the software, we help you use it more efficiently and more effectively. Mike Raitt, CPA offers the following solutions to help meet your QuickBooks needs:
Personal Training
We train you personally! Either one-on-one or several individuals within your organization at your company's location. Installation
We install QuickBooks on your stand alone computer or in a network environment, in either single- or multi-user mode. Setup
We assist new QuickBooks users with initial setup including: EasyStep Interview, Preferences, Lists, Customers, Vendors, Employees, Banking and Reports. We also help experienced users manage their businesses more effectively by improving their current setup. Many users experience problems and lack the ability to generate and track important information as a result of inadequate setup. Support
Our QuickBooks support service can assist you with any installation, setup or operation assistance you might need. In addition, our support is not limited just to the software part of it, but we can also provide accounting and payroll assistance. Review
Our QuickBooks review service helps companies that have the human resources to perform daily accounting and payroll tasks, but need an accounting and payroll expert to review your transactions, accounts and reports. This review ensures that you receive timely, relevant and reliable financial information. We also inform you of any corrections, adjustments or reclassifications necessary to ensure that the financial information you receive reflects the correct financial condition of your business. Reviews may be conducted at any time, but monthly reviews provide you with up-to-date information and feedback about your business. Request information about QuickBooks Accounting Help and Assistance below
Payroll Services
Mike Raitt, CPA's payroll services can help you reduce the time spent on administration through developing and implementing a computerized payroll system that will facilitate processing, timely payment and preparation of tax returns. Request information about Payroll Services below
Employee Benefits, Pension, and Profit-Sharing Plans
Choosing and administering benefit plans for your employees is often a complex process. Mike Raitt, CPA can help you develop, implement, and administer your benefit, retirement, and profit-sharing plans with an eye toward maximizing tax advantages. Request information about Employee Benefits, Pension, and Profit-Sharing Plans below
Cash Flow and Budgeting Analysis
Good cash management can improve a company's liquidity, reduce costs, and increase profitability. Mike Raitt, CPA can help you maintain optimal cash flow levels by tracking sources and uses, forecasting, and budgeting accordingly. Request information about Cash Flow and Budgeting Analysis below
Financial Projections and Forecasts
No one can predict the future perfectly, but we can all benefit from planning for it. Mike Raitt, CPA combines expertise and experience with a gained understanding of your business to produce financial projections that can help you manage your business plan and spending. Depending on your needs, our work can range from top-level reports to detailed financial models. Request information about Financial Projections and Forecasts below
05/30/2026
Does your business provide complimentary on-site food and beverages for employees? The rules for deducting certain business meals have changed. Beginning in 2026, employers generally can’t deduct 1) meals treated as de minimis fringe benefits, or 2) employer-provided meals that are excludable from an employee’s income and provided for the employer’s convenience on business premises. For the 2025 tax year, generally the former were 100% deductible and the latter were 50% deductible. Contact us at (972) 964-5100 to discuss whether this change will affect your company and how to plan accordingly.
05/27/2026
In strategic planning, it can be hard for business owners to step back and evaluate opportunities objectively. An external advisory board can offer fresh, independent perspectives and seasoned guidance, especially when handling high-stakes, complex transactions. A board’s involvement can elevate professionalism, strengthen credibility with stakeholders and support smarter long-term decisions. Contact us at (972) 964-5100 to explore how creating an advisory board, or optimizing your current one, can help your business grow.
05/26/2026
Does your business use independent contractors? The reporting requirements for these workers differ from those for W-2 employees. For payments made in 2026, businesses generally must issue Form 1099-NEC, “Nonemployee Compensation,” to contractors paid $2,000 or more (up from $600 for 2025). The higher threshold may reduce your administrative burden because you could have fewer forms to file with the IRS. However, it doesn’t change your recordkeeping, worker classification or backup withholding responsibilities. Contact us at (972) 964-5100 to help ensure you’re prepared for the updated reporting requirements.
05/20/2026
Today’s finance and accounting (F&A) teams are under significant pressure. Tight deadlines, lean staffing, evolving regulations and growing compliance demands can lead to burnout, errors and turnover. Retention isn’t just about compensation. Practical operational improvements can make a real difference. Consider automating repetitive tasks, clarifying approval workflows, cross-training staff to ease bottlenecks and leveraging external resources during peak times. When your F&A team has the right structure and support, they’re more productive, accurate and engaged. Call us at (972) 964-5100 to brainstorm cost-effective ways to strengthen your financial operations.
05/19/2026
Will Social Security benefits be available when you retire? Good question. These benefits are unlikely to disappear entirely. But payments may be smaller, and the qualifying age for full benefits (currently 65 to 67, depending on your date of birth) may increase. So it’s critical to take advantage of tax-deferred retirement vehicles and to make age-appropriate investments that can help you accumulate adequate savings. Call us at (972) 964-5100 to discuss your retirement goals and ways to achieve them.
05/18/2026
Maintaining healthy operating cash flow helps drive your company’s success. But accomplishing this objective isn’t always easy. One practical approach is to speed up customer payments while carefully managing the timing of your own bills. Prudently shortening your cash conversion cycle can improve liquidity and give your business greater financial flexibility. Please call us at (972) 964-5100 for help identifying opportunities to strengthen your cash position and keep your business moving in the right direction.
05/15/2026
The Qualified Opportunity Zone (QOZ) program offers tax breaks on capital gains from eligible long-term investments in designated low-income and rural communities. The One Big Beautiful Bill Act made the QOZ program permanent and established a new 10-year designation cycle. The IRS has issued guidance on how to nominate population census tracts for designation as QOZs. The next round of QOZs will be effective from Jan. 1, 2027, to Dec. 31, 2036. Generally, state and territory governors can begin nominating eligible census tracts for QOZ designation on July 1, 2026. The nomination period lasts 90 days, with the option of a single 30-day extension. Contact us at (972) 964-5100 with any questions about QOZ tax breaks.
05/13/2026
If you’d like to arrange for a transfer of wealth through multiple generations, consider a dynasty trust. Assets are taxed just once, when they’re initially transferred to the trust. There’s no estate or generation-skipping transfer tax due on any subsequent appreciation in value. A drawback is that the trust is irrevocable. This means it generally can never be revised. Call us at (972) 964-5100 for more details.
05/12/2026
If you have unfiled tax returns, getting back on track may be easier than you think. But the longer you wait, the more costly it becomes. The IRS charges a failure-to-file penalty of 5% per month (up to 25%) of the unpaid tax. There’s also a separate failure-to-pay penalty of 0.5% per month (up to 25%) of the unpaid tax. If both apply in the same month, the combined penalty is generally 5% per month. Returns over 60 days late are subject to a minimum penalty. Filing, even if you can’t pay in full, can reduce penalties and open the door to payment plans or other relief options. Call us at (972) 964-5100 for help.
05/11/2026
A donor-advised fund (DAF) is one option available to support charities while reducing your taxable estate. By contributing cash or appreciated assets to a DAF, you also may qualify for an immediate charitable income tax deduction without needing to identify the specific charitable recipients right away. This gives you more time to research potential recipients or change the organizations you support from year to year. For families focused on legacy planning, DAFs can also help align heirs around charitable goals. Contact us at (972) 964-5100 for additional details.
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