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When Does Converting A Traditional IRA To A Roth IRA Make Sense?

When-Does-Converting-A-Traditional-IRA-To-A-Roth-IRA-Make-Sense

When-Does-Converting-A-Traditional-IRA-To-A-Roth-IRA-Make-Sense


Some people only consider working with an experienced tax consultant during tax season. Yet, your tax burden doesn’t come into play only once a year. By making the right investments, you can reduce your tax burden.

One way that individuals are looking to reduce their tax burden is by switching their traditional IRA to a Roth IRA. For some, dealing with their retirement accounts is intimidating, and so they are reluctant to make any significant changes. But if you can save yourself future taxes, it may be worth it to work with a qualified Cedar City accountant to determine if it makes sense to convert your traditional IRA into a Roth IRA.

Difference Between Traditional IRA And Roth IRA

Sometimes, the terms traditional IRA and Roth IRA are used interchangeably to refer to retirement plans as a whole. However, these are distinctly different retirement strategies. To ensure that you are clear on the differences between them, here are how both are defined:

  • Traditional IRA – Income deposited in a traditional IRA is invested pre-tax. Your investments are allowed to grow without dividends income taxes or capital gains taxes being assessed until you withdraw from your IRA. Depending on your modified adjusted gross income, and potentially other factors, you may be able to deduct traditional IRA contributions from your taxes. However, there are other considerations to keep in mind with a traditional IRA. For instance, you will, in most instances, be required to pay income taxes when you withdraw money from your traditional IRA. Also, there is a penalty if you withdraw from your traditional IRA before 59 ½. There is also a penalty if you don’t make the minimum withdrawals from your traditional IRA after you are 72 years old.
  • Roth IRA – Contributions to a Roth IRA are already taxed, so when you make a withdrawal, you can pull from your Roth IRA without paying any additional taxes. You do still need to be at least 59 ½ to avoid the early-withdrawal penalty. There is also no minimum withdrawal mandate with a Roth IRA. Also, as this money has already been taxed, you cannot deduct your Roth IRA contributions from your taxes. Now that these two retirement savings options have been defined let’s look at why someone would convert their traditional IRA into a Roth IRA.

Why Convert Traditional IRA To A Roth IRA

The main reason why someone might convert their traditional IRA into a Roth IRA is to minimize their tax burden. However, the timing of this conversion plays a large part in whether or not it is in your best interest to convert your traditional IRA to a Roth IRA.

For instance, a traditional IRA loses value if the stock market experiences a downturn. In many cases, it is not recommended to alter your retirement plans just because of stock market fluctuation—these ups and downs are expected over the lifetime of your traditional IRA. However, if you are looking for greater security and fewer fluctuations, a Roth IRA will offer that.

There are, of course, other considerations that need to be taken into account when considering converting a traditional IRA to a Roth IRA, which is best discussed with a seasoned accountant.

Review Your Retirement Plan Options With An Experienced Accountant

When consulting with our accountant, factors such as your time until retirement, tax bill associated with converting a traditional IRA to a Roth IRA, or having a mix of accounts will be considered. It is impossible to say in one blog post what would be best for your personal finances, as everyone has their own combination of financial concerns.

To review your retirement plan options, discuss tax burden reduction strategies, or other accounting business with our experienced accountant, please contact us today to arrange for a consultation.

Holiday Season In Cedar City Utah

The end of the year is both a busy and joyful time of the year. And, as you prepare for your 2019 tax filing with your local Cedar City accountant, be sure to take some breaks to enjoy what the holiday season has to offer here in our beautiful part of Utah.

Enjoy The Seasonal Holiday Markets

If you have been putting off your holiday shopping or you are just looking for the perfect stocking stuffers, then you are in luck. There are a number of seasonally-themed holiday markets for you to enjoy the unique and artisanal goods available.

  • Christmas Bazaar (Dec. 5) – Come by the Paiute Indian Tribe Gym from 2 pm – 7 pm for a special holiday market featuring local craftsmen and food vendors.
  • Holiday Market (Dec. 6-7) – For an admission price of $1 per person, you can come by the Frontier Homestead State Park Museum for a bustling holiday market. On Friday, this event will run from 11 am – 8 pm, and on Saturday it will go from 9 am to 3 pm.
  • Christmas at the Homestead (Dec. 1-6) – A Christmas staple in Cedar City is the Christmas at the Homestead event at the Frontier Homestead State Park. With an affordable admission of $2 per person or $5 per family, come immerse yourself in the festive spirit where you can enjoy crafts, have the kids meet Santa, listen to Christmas music, and more.
  • Christmas on the Farm (Dec. 7, 9, 14, 16) – Blend activities with some Christmas shopping when you go to Christmas on the Farm. From caroling hayrides to crafts and stories with Santa, there is plenty to do when you are done with the Farm Store. This event requires tickets, and costs $5 per person, though children under 1-year-old are free. Times vary depending on what day you want to go, so be sure to check the time as you go to buy your tickets from Nature Hills Farm.
  • Santa at the Farmers Market (Dec. 14) – At the year-round downtown farmers market, the whole family is welcome to browse, shop, as well as meet Santa and take photos with him. There will be plenty of craft vendors and food vendors, so drop by between 11 am – 1 pm to enjoy the fun.

Revel In Christmas Performances

If you are looking for music, plays, and other performances to help you get into the holiday spirit, then Cedar City is the place to be. The month of December is packed with performances you can enjoy!

  • TubaChristmas (Dec. 7) – If you ever wanted to belt out your favorite Christmas carols with tuba players, then don’t miss TubaChristmas, held outside the Old Rock Church. This event is free and will be from 1 pm to 2 pm.
  • Handel’s Messiah (Dec. 8) – Come to the 79th Ceder City performance of Handel’s Messiah, performed by the Orchestra of Southern Utah & Chorale. This night of glorious music will be held at the Heritage Center Theater and is free of admission, though you will need to pick up a ticket from the box office.
  • Moscow Ballet: Great Russian Nutcracker (Dec. 10) – At the Heritage Center Theater, catch the one-night performance of Moscow Ballet’s Great Russian Nutcracker at 7:30 pm. Become immersed in music and magic as this classic Christmas tale is performed. Tickets are $30 for adults and $15 for students, with no children under 6 years old allowed.
  • White Christmas the Musical (Dec. 12-14) – Put on by Iron Stage Theatrical, come enjoy White Christmas the Musical at the Cedar High School Auditorium. With a performance at 2 pm then one at 7 pm, the whole family can enjoy this performance. Ticket prices are $5 for children and $10 for adults with a $35 family pass available.
  • In Jubilo Christmas Concert (Dec. 12) – Free of admission, this concert will be held at the Heritage Center Theater at 7 pm.
  • Master Signers Christmas Concert (Dec. 15) – Free of admission, this concert will be held at the Heritage Center Theater at 7 pm.
  • Red Rock Singers Christmas Concert (Dec. 18) – Free of admission, this concert will be held at the Thorley Recital Hall at 7:30 pm.
  • A Christmas Carol on the Air (Dec. 19-20) – Done in the style of an old-fashioned radio show, A Christmas Carol on the Air, tells the classic Christmas Story by Charles Dickens. Starting at 7 pm at the Heritage Center Theater, tickets for children, veterans, and students are $10, and adults are $15.

If you have any tax or accounting needs you would like to get in order before the end of the year, you can always work with our accountant. Be sure to contact us to set up an appointment to ensure that you go into the new year with your finances on track.

For One-Time, Or Continual Use, Here’s Why You Need A Cedar City Accountant


When most people think about accounting services, what usually comes to mind is taxes and maybe things like basic bookkeeping tasks like payroll. While these things definitely fall under an accountant’s purview, there are many other reasons why you need an accountant.

Also, not just any old accountant. By working with a Cedar City Accountant—like our accountant here at AA Tax & Accounting Services—you can receive area-specific accounting.

With this kind of help, whether you need an accountant for a one-time issue or for continual work, you can tackle a range of financial matters. Below, we have covered some of the top things our accountant works on to give you an idea of some of the issues you may want a Cedar City accountant to help you resolve.

More Familiar With Your Local Tax Laws

By working with a local tax consultant like our accountant, you work with someone that is highly familiar with the tax laws that apply to you. For small business owners, having someone with a deep understanding of what local, state, and federal taxes will apply to your company can make a significant difference in your taxes.

Also, by working with a local tax consultant, you can plan for future tax filings as part of your overall business plan, as our accountant can consult with you concerning upcoming business ventures.

If you are an individual or married filer, you can also benefit from working with a local tax consultant. Ones like our accountant will know if there is a local or state benefit that a box-store or online tax preparer may not know about.

Can Help Maximize Your Tax Return

With the right Cedar City accountant, you can enjoy a fully maximized tax return. With personalized help, your tax return will be reviewed to ensure all of the proper tax credits and deductions have been applied to your taxes.

Many people have come in with their less-than-stellar tax return from another tax preparer to get our accountant’s opinion. More often than not, it has turned out that the other preparer did not maximize the client’s tax return, and we are able to help them save more than expected.

Able To Assist With Financial Aspects Of Divorce

Even when a divorce is amicable, untangling finances can be difficult. Our accountant can provide forensic accounting to assist with a fair division of marital assets. With forensic accounting, he will determine the value of the shared assets, help with equitable alimony payment recommendations, child support payments, and other financial assets which can be difficult to split.

Also, when a party in the divorce is fighting against making support payments or hiding assets, working with your local Cedar City accountant can help you find the information you need.

Work With An Accountant On Long-Term Financial Planning

There are many long-term financial commitments that can be difficult to make as they require a significant investment of your time and money. Rather than taking a gamble on your own, you can work with our accountant to help you optimize your long-term financial planning.

Whether you are concerned about your financial portfolio or you have multiple mortgage options you would like a second opinion on, our accountant can help. You can also set up other future financial plans with our accountant, whether you are setting up a trust or senior care planning.

Access Business Consulting With An Accountant

No matter what stage your business is currently at, working with our Cedar City accountant can help. Our accountant has helped startup businesses that wanted a solid financial plan before launch as well as established local businesses who are considering entity restructuring.

Business owners can highly benefit from third-party advice from a local accountant, as the advice is tailored to the area the business is located in, rather than vague projections. Also, the impartial advice that our accountant can provide will be in the business owner’s benefit, while an in-house advisor may promote risky ventures to further their own ends.

Navigate Day-To-Day Business Details

Even if you aren’t looking to make waves and alter your business structure, a working relationship with a local accountant can help to take care of the day-to-day of running your company. Addressing the financial minutiae of your business—from maintaining the general ledger to bank reconciliations and more—can eat into your precious time.

Rather than chasing stray decimal points in your accounts receivable and accounts payable, you can leave that work to our accountant. We can offer tailored bookkeeping and accounting services depending on your business’ needs.

If you are interested in working with our accountant and would like a consultation, please feel free to contact us today.

Mistakes on Your Taxes? Don’t Fret, Here’s What to Do


Once tax returns have been filed, most people breathe out a sigh of relief and promptly put it out of their mind, unless they are waiting on money back. However, something that is less pleasant to consider is when there is a mistake in your tax return.

Identify What Went Wrong On Your Tax Return

There are unfortunately a number of ways you can have mistakes occur on your tax return. The three most common ways errors happen are:

Personal tax preparation error – Sometimes, the error occurs when you prepare your taxes on your own. These errors may occur due to incorrect math, claiming inaccurate tax credits or deductions, or other easily made mistakes.

Employer mistake – If your employer makes an error in your withholdings, whether the issue is with your state or federal taxes, that can lead to a significant issue with your overall tax return.

Inexperienced tax preparer – There are many different levels of tax preparers ranging from a seasonal preparer to a trained accountant. If you opt for the cheaper and less experienced services of a seasonal tax preparer to file your tax return, the chance for errors is much higher.
By working with AA Tax & Accounting Services, you can have your taxes properly prepared the first time around. Also, you can be reassured by our guarantee that if an issue does arise with taxes that we file for you, our tax resolution service will be provided for free to correct the issue.

Start To Work Toward Resolving Your Tax Mistake

Once the error is known to you, it is critical that you start the process to correct the mistake on your taxes. It is best not to wait to see if the IRS will contact you with a penalty. Instead, it is always best if you start the resolution process before you are pressed to do so.

You may need to do a bit of research to determine if the mistake you have identified is the only one. After you correct one error, your tax returns may receive more attention to be sure that all the mistakes are caught and fixed.

Determine What You Need To Be Filed To Correct The Issue

If the IRS reaches out to you concerning a correction on your tax returns, they will help you through the process of correcting the filing error. However, if you find the problem on your own, there are different steps you may need to take.

For instance, if there is an error on your federal taxes, you will need to file Form 1040X, which is the amended U.S. individual income tax return. By filling out this form, you can correct previous federal tax return errors. Should you have more than one year of federal tax return mistakes to correct, you will need to file a Form 1040X for each year.

As for your state taxes, if you are a Utah resident, you will need to file the Utah individual tax return Form TC-40. On line 29, you will indicate that you are filing an amendment, with line 37 detailing what you previously paid. From there, you can correct your state tax return.

Take Your Tax Preparation To Cedar City’s AA Tax & Accounting Services

If you are concerned about making new mistakes and want your tax return filed properly, then AA Tax & Accounting Services is here for you. Our Cedar City accountant has helped countless people prepare and file their taxes, and he can help you overcome your tax hurdles as well.

For help with your tax preparation, contact us to meet with our accountant and start enjoying greater tax protection.

Benefits of Outsourcing Live Payroll To Your Cedar City Accountant


Managing your company’s payroll can eat up a good deal of your time, but it is a critical aspect of any business, as it can directly impact the morale of your employees.

By choosing to outsource the payroll services of your local Cedar City accountant, you can enjoy a number of benefits, including the overall happiness of your employees who are accurately paid on-time.

Reduce Your Payroll Processing Costs

Many small business owners take care of payroll on their own or have an office manager that doubles as a bookkeeper to take care of the company payroll. This can eat up hours of paid work just to keep ahead of the regular payroll.

That’s not even considering if you have employees that have benefits to track, new hires, garnishments, terminations, vacation time, sick days, as well as the many changing state and federal regulations regarding company payroll. On top of that, business owners can have a good deal of time spent every year on producing timely and accurate W2s for their employees.

When you choose to outsource your payroll to an experienced accounting firm like AA Tax & Accounting Services, you can unload that fluctuating man-hours expense. Even if you take care of the payroll yourself and don’t pay yourself for the time spent, your time as the business owner is valuable and can be more productively spent elsewhere.

Increase Work Productivity

Speaking of productivity, outsourcing your payroll needs to an accounting company can significantly increase your company’s productivity. When the payroll is in-house, at least two people will have their attention dedicated to dealing with the intricacies of the payroll.

With at least one employee processing payroll and either you or a manager verifying the information, vital time will be dedicated to an activity that doesn’t actively contribute to your business’ productivity, only passively as it will help the productivity of your other employees.

By moving your payroll processing out-of-house, you can save all that time and just make contact with our accountant once a pay period to approve of the payroll.

Greater Security Available When Outsourcing Payroll

Your payroll information needs to be protected, whether it’s just from an employee gossiping about salaries or outside attacks. There are other serious threats to your business payroll processing information such as:

– Funds being embezzled and covered up
– Using information for personal gain
– Cyber attacks
– Identity theft

With both internal and external threats to your sensitive payroll information, it just makes sense to outsource your payroll. Our accounting firm works with top-of-the-line protections to keep your data secure and can alert you to issues that may indicate embezzlement or other problems that can be obscured by in-house payroll.

Outsource To Protect Your Business From Tax Return Errors

According to the IRS, about 40% of small businesses pay yearly penalties related to issues with their tax return filing. As payroll plays a large part in a business’ tax return, it is essential that this information is accurately represented.

Not only can it be an issue for your company, but payroll errors can impact your employees as well. State and federal laws change often, and generally, only professional accountants stay on top of all these changes. A bookkeeper that lacks the most up-to-date information on payroll regulations may cause an issue with employee withholdings, leaving your employees with inaccurate tax information that may require them to file amended tax returns and also pay penalties.

These things can be discouraging to both the business owner and employees, heavily impacting the overall morale of your company. By opting to outsource your payroll to your local Cedar City accountant, you can be sure that he understands the local, state, and federal regulations regarding payroll and will work to protect your business.

Easy Employee Access To Payroll Information

Your employees will often need payroll information to receive loans, apply for apartments and leases, student loan repayment information, and more. Instead of having them need to come to you and adding another task to your busy schedule, outsourcing your payroll takes care of that issue.

With outsourced accounting with AA Tax & Accounting Services, your employees can view their pay stubs by pay period, print them out for documentation purposes, update their personal information, and review their benefits. These things can be tailored to your organization.

To discuss your business’ payroll requirements with our accountant, contact us to set up an appointment today.

The Value of Utilizing Private Accounting Services


There is an enormous amount of value in utilizing private accounting services, from reducing your business costs to adding greater financial protection to your business.

If you have been considering outsourcing your accounting needs but aren’t sure if it’s right for you, here are some reasons that may help you take the plunge and utilize the private accounting services of AA Tax & Accounting Services, LLC.  

Reduce Overhead Costs With Private Accounting

One of the main reasons businesses of all sizes opt for working with a private accounting firm is to reduce their overhead costs. Having even an in-house, part-time bookkeeper can be pricey, especially if you want one with any amount of experience. But when you turn your bookkeeping and accounting needs over to a private accountant, you can significantly reduce costs in several ways.  

  • You don’t need to train an out-of-house accountant like you would with an in-house bookkeeper and accountant.
  • No benefits, unemployment insurance, and other attendant costs are attached to hiring a private accounting firm, unlike an in-house employee.
  • Private financial matters such as employee salaries will remain private with the help of an accounting firm.

Tailor Exactly What Accounting Services You Need

By working with AA Tax & Accounting Services, LLC, you can determine exactly what accounting services your company needs.

Say that you run an ecommerce business with a few employees and are looking to grow. With our accountant, you may want to utilize our firm’s bookkeeping and payroll services, access our business consulting services which include entity restructuring, revenue recognition strategies, tax preparation, and more.

However, say instead that you are looking to start a new company but need help on the financial side of startup company planning. Our accountant can help with your business planning, from assessing startup costs to profit analysis information you will need to present to potential investors.  

With an accountant in-house, you may not have access to all the skills you may need for your growing business. But when you work with a private accounting firm like ours, you can make sure that we have the services you need to ensure your finances are on track.

Enjoy An Outside Perspective On Financial Matters

You know the old saying, “It’s hard to see the forest when you’re among the trees.” Well, running your own business can be like that. As you are involved in the day-to-day business of your operation, it can be difficult to see exactly what you need to do financially to ensure the future profitability of your business.

By working with our accountant, you can enjoy the clear view that comes with someone who isn’t personally with your business. Other people heavily involved in your business may not have the clarity and insight that a private accountant can provide.

Even if you aren’t a business owner, it can be difficult to project your future financial needs when you are busy with your immediate needs. If you need assistance in managing your portfolio or arrange your personal finances, our accountant has helped many individuals ensure that their finances are taken care of properly.   

Add A Layer Of Protection To Your Business

Business financial matters are only as safe as the competency of the person handling your accounting needs. By outsourcing your accounting needs to our private accounting firm, you can enjoy greater security and safety measure. Some of the financial protection benefits we provide your company with are:

  • Cash flow management
  • Embezzlement protection
  • Bank reconciliation
  • General ledger management
  • Payroll processing

Here at AA Tax & Accounting Services, LLC, you can enjoy all the benefits of private accounting services with the help of our experienced accountant. Contact us to discuss your accounting needs with our accountant.

Government Shutdown Might Mean Refund Delay, Let Your Accountant File It Quickly

When the government shutdown occurred earlier this year, the IRS was one of the main areas where funding stopped. As a result, the tax return process was in jeopardy. The question, at the time, was how quickly would tax refunds be processed, if at all, and how long would people have to wait to receive them.

But because of a few loopholes in the policy about government offices operating during a shutdown, the IRS has been able to stay the course, with some minor delays, in processing returns.

Prior Shutdowns and the Antideficiency Act

If a government shutdown occurs, some government areas still remain in operation. One of those areas is, of course, the IRS. In the past, the only contingency was while returns would be processed, refunds might be delayed until the government was again funded.

Your local Tax Accountant, however, is probably going to continue doing the work of helping people prepare their returns as most tax filers like to complete them as soon as the tax season starts.

Last year, 18.3 million people claimed around $12.6 billion in early refunds. This year, the IRS stated that tax filing season would begin on January 28th, despite the Antideficiency Act that states what type of work can be done during a government shutdown.

IRS Employees Still Worked

In spite of the shutdown, the Trump Administration vowed that the processing of returns and refunds would not be interrupted. This meant the IRS had to keep-on around 46,000 employees (57% of its workforce).

But those employees did their work without pay with the promise of back-pay as soon as the government was funded and operational again.

In the interim, the IRS assigned staffing to functions it deemed a necessity, such as processing electronic returns, processing returns with payments, mailing tax forms, appeals, criminal law enforcement and investigations, and technical work to maintain computer systems. Other job functions like audits, returns, non-automated collections, and legal counsel, etc., were all temporarily stopped.

The IRS Tried to Serve Taxpayers

Despite the fact it only had half its workforce in place during the shutdown, the IRS still tried to help taxpayers with any concerns they might have. 38% of calls to its Automated Collection System were answered with callers waiting close to 50 minutes. As far as the IRS’s Installment Agreement/ Balance Due line, only seven percent of calls were answered with an over 80 minute wait time.

The IRS also had five million pieces of mail that needed to be processed. And it had over 80,000 responses to the fiscal year 2018’s Earned Income Tax Credit audits that went unanswered. Add to that the 87,000 amended returns that no one addressed.

The IRS’s Old Computer System

Although it is probably one of the most important areas of the government, the IRS is highly underfunded, and this point goes beyond normal funding the agency receives when the government is fully operational. One of the areas where it is behind the times is in its computer systems, which haven’t been updated since the 1960s.
Currently, taxpayer information is stored in 60 different case management systems that aren’t linked together and the agency lacks a central database. The problem is IRS employees are unsure if they are servicing the right taxpayer accounts or not. These antiquated systems also make the audit process highly imprecise and ineffective.

Tax Reform Questions Unanswered

In 2014, the IRS instituted a policy of answering tax law related questions in a specific fashion and only during the tax season months of January through April. But the Trump Administration’s tax reform changed that policy, especially in regard to questions about the Tax Cuts and Job Acts reform.

But callers were told those questions couldn’t be answered due to budget restrictions and instead were directed to an automated answering system where they were promptly disconnected. Those taxpayers who actually got a live person were told that IRS employees had not been trained on the reforms and apologized for not being able to answer their questions.

Tax Returns and Refunds Were Still Processed

With all the problems the IRS faces with old computer systems and insufficient training on new tax laws in addition to being short of staff during the shutdown, the agency was still able to process returns and refunds, although not at the same level as the prior year. In the first week of the tax season, the IRS was still able to process 13, 306, 000 returns with 4,672,000 refunds paid out. The average refund, however, went down from the prior year from $2,035 to $1,865.00.

Conclusion

The government shutdown finally did end, although President Trump threatened another one might follow. Thankfully, that didn’t happen. All IRS employees are most likely back at work, but the fact remains they are plagued with old systems and not enough training about tax reforms to answer taxpayer questions.

Have you done your 2018 taxes yet? Are you worried the tax reforms of last year might make doing your tax return difficult and negatively impact your refund? It’s not too late to contact your Cedar City Accountant to help you through your federal as well as with your Cedar City taxes.

Looking Forward To Your 2018 Tax Return – Tax Credits vs. Tax Deductions

A common question our Cedar City accountant is asked during tax season is whether tax credits or tax credits are better when it comes to improving your tax return. The answer is—it depends.

Difference Between Tax Credits vs. Tax Deductions

To help you determine whether tax credits or tax deductions are better, it is important you understand how they work. Both tax credits and tax deductions will work to help you save on your taxes, but they do it in different ways.

Tax credits – When you use a tax credit, it can reduce the amount of taxes you owe at a dollar-for-dollar rate reduction. So, say you owe $2,500 in taxes, a $1,000 tax credit will reduce that amount down to $1,500 owed. Also, some tax credits are refundable, so if you have enough tax credits to reduce your taxes below zero, you can have the remaining amount refunded to you. However, many tax credits are non-refundable, so you can only reduce your taxes owed to zero.

Tax deductions – On the other side, a tax reduction work to reduce the taxes you own by percentages. So, say you are in the 22% tax bracket and have a $1,000 tax deduction you can apply. For those in the 22% tax bracket, the $1,000 tax deduction actually will only save you $220 on the taxes you owe.

In some instances, you can use both tax credits and tax deductions on your tax return, though many are dependent on a variety of factors. Our accountant provides tax preparations services and can help you determine what combination will apply to your taxes.

How The Tax Cuts And Jobs Act Affect Tax Credits vs. Tax Deductions

The sweeping changes to the tax law by the Tax Cuts and Job Act passed in 2017 will now affect tax returns filed in 2019. One of the biggest changes is the raising of the standard deduction, which is now:

  • Single filer – $12,000
  • Married, filing jointly – $24,000
  • Married, filing separately – $12,000
  • Head of household – $18,000

With the higher standard deduction, most will not bother with itemized deductions, making tax deductions less useful than tax credits. However, if you want to discover if itemization is worth it for you or if the standard deduction is best, our accounting services are available to you.

To work with an experienced tax accountant, contact us for an appointment. Our accountant will help you receive the best tax refund possible.

Cedar City Nonprofits: Donating to the Paiute Indian Tribe of Utah


When we move beyond amassing wealth for ourselves and give to others, we expand our worldview while setting an example of loving kindness for our children. As one notable child, diarist and Holocaust victim Anne Frank once wrote, “No one has ever become poor by giving.”

In fact, including charitable giving in your personal financial plan can yield significant savings on your tax return, particularly when you work with a skilled tax accountant. This leaves you with more money to live and to give, a truly healthful cycle.

It can be hard, though, to negotiate all of the worthy nonprofits to determine where to direct your charitable giving. At AA Tax & Accounting Services, we advise clients to start by looking for ways to help right in Cedar City and the surrounding communities.

The Paiute Indian Tribe Of Utah

One way to do this is to support the efforts of the local indigenous people, the Paiute Indian Tribute of Utah. These include the Indian Peaks Band of Paiute Indians, who count 2,000 acres in Cedar City as their home.

Near-Destruction

As of 2015, the Indian Peaks Band had 48 members. The small number is a testament to how the population of Utah Paiutes–who historians estimate arrived in Utah about 1100 AD–has been decimated over the years.

Once numbering in the thousands, Utah’s Paiute Indians were nearly extinguished, first by contact with European settlers and later with American pioneers. The devastation continued in 1954 when the US government terminated its recognition of the tribe. At one point, the number of Paiutes in Utah dwindled to 800. As of 2015, those numbers rested at 918.

The Long Climb Back

Created in 1980 by an act of Congress, the Paiute Indian Tribe of Utah is comprised of five constituent Bands, including:

  • Cedar
  • Indian Peaks
  • Kanosh
  • Koosharem
  • Shivwits

Each of these Bands has a longstanding independent identity. What they share in common, however, is the desire to climb back from near-destruction toward a better future.

In 1984, the Paiute Indian Tribe of Utah was granted 4,470 acres of Bureau of Land Management land and $2.5 million in seed money to kickstart economic development. Since then, Utah’s Paiutes have built houses, opened businesses and made strides in healthcare and educational opportunities.

Giving To Youth Education Helps Local Paiutes Move Forward

It’s generally agreed education is the best way to help a community move forward, and this holds true for the Paiute Indian Tribe of Utah.

Scholarship Program

You can invest in the future of neighboring Native Americans by contributing to the PITU Higher Education Fund. Your donations help provide young people in Cedar City and the surrounding areas with college and training. It’s hoped the scholarship program will yield desperately-needed graduates in fields like medicine, engineering and science.

Paiute Tribal Youth Camp

Regaining Paiute culture is as important as reclaiming tribal land. For the past 9 years, teens from Utah’s Paiute bands as well as youths from Nevada and Arizona Bands have been invited to the Paiute Tribal Youth Camp.

During the 4-day camp–held in public lands of traditional significance to Paiutes of the Southwest–participants receive guidance from tribal Elders and Grandmothers as well as indigenous people who’ve forged careers in public land stewardship. The camp is supported by Southern Utah University as well as agencies like the National Park Service, the Bureau of Land Management and the Forest Service.

Tribal elders expose teens to the Paiute language, songs, stories and native plant science. The heaping dose of native culture also includes participation in a traditional fire circle as well as an ancient stick game. Carmen Clark of the Shivwits Band of Paiutes says, “If they know just a little bit, they know where they come from, they’re not lost.”

The teens also get lessons in various areas of land stewardship that may lead to a future career.

Help Fund this Transformative Camp

The Zion Natl Park Forever Project aims to help raise the $15,000 needed to fund the 2019 Tribal Youth Camp. To contribute, click the “Pitch In” tab at the top of the project’s website. Select the amount you wish to contribute and click on the “Informing Tomorrow” button. As you complete your donation, you’re invited to leave a comment. You can note there that you’d like your contribution to go to the Paiute Tribal Youth Camp.

At AA Tax & Accounting Services, we’re happy to help you manage your finances, both business and personal, with a full array of services. If you’d like more information on worthy nonprofits or on thriving financially, contact us today for your appointment.

5 Ways An Accountant Can Help You Organize Your Business Finances

Filing Your Business Tax Return for 2016

As a small business owner, it is important to prioritize which area of your business requires more of your direct attention. Many times, this means you need to switch between being a marketing manager, salesperson, customer support representative, bookkeeper, and more. Business owners have limited time, and understanding the many laws and regulations surrounding business finances takes more time that business owners can devote. This lack of time and understanding can create difficulties later.

To help you avoid these difficulties and improve the organization of your business finances, an accountant can help you in multiple ways.

1. Work With AA Tax & Accounting Services To Develop An Efficient Bookkeeping System

Having an effective bookkeeping system is the lifeblood of any business. Without one, vendor payments can be missed, expenses unaccounted for, and other disasters which can easily topple a small business.

An accountant can significantly improve your bookkeeping by providing:

  • Bookkeeping software – Our accountant can advise you on which bookkeeping software would best suit your business and help you set up your account. However, this solution still requires a significant amount of oversight from you, to track to ensure things are recorded correctly and to upload various expense reports.
  • Outsourced to accountant – Many business owners choose to outsource their bookkeeping to our accountant to ensure an experienced eye is watching their accounts. You can also choose to hire an in-house bookkeeper, but often, this expense can be hard on a small business, while outsourcing your bookkeeping is significantly more affordable.

2. Receive Tailored Business Consulting

One of the many services accountants offer is business consulting. Depending on your accounting needs, this consultation can cover a range of topics. Some of what AA Tax & Accounting Services, LLC, can consult with you on are:

  • Business planning and development
  • Ideal entity structure for your organization
  • How to structure business finances (i.e., choosing a bank, separation of business and personal finance, etc.)
  • Revenue recognition strategies

3. Allow Our Accountant To Organize Your Payroll

Having even one employee on your payroll can increase the difficulty level of your bookkeeping, as payroll is not merely paying your workers on time, though that is important. You will need to:

  • Track payroll for your employer taxes
  • Liability insurance payments to cover your business in case something happens to your employees
  • Sick and vacation pay accrual
  • Payroll disbursement
  • Hourly and salaried employees hours tracking
  • Workman’s compensation
  • Unemployment payments

This payroll list will become more complicated as your business grows. Our accountant can be an invaluable asset, as he can organize and set up your entire payroll system to work seamlessly behind the scenes and ensure you and your employees are satisfied with your payroll.

4. Review Regular Reports With AA Tax & Accounting Services

With the help of an experienced accountant like Adrian D. Anderson, you can see real-time reports of all work-related financial standings. Outsourcing this time-consuming portion of running your own business frees you up to manage more enjoyable aspects of working for yourself.

Of course, you will not be cut off from how your company is doing financially. Adrian will supply a variety of reports to help you maintain an organized view of how your business is operating. Some of the reports offered by our accountant are:

  • Income statements
  • Balance sheets
  • Expense reports
  • Audits

Our accountant can also create customized reports to suit your business’ financial needs. Both the reports listed above and customized reports will greatly aid in your ability to make more beneficial decisions for the growth of your company.

5. Confidently Delegate Tax Prep And Filing

Organization is vital when it comes to filing your business taxes. Our accountant often acts as a tax consultant for small businesses. With his help, businesses can have their taxes calculated, have all their eligible deductions applied to their taxes, and have their taxes filed on time by our accountant.

Also, AA Tax & Accounting Services stands by its accounting work. If your taxes are audited, Adrian will work with you to resolve any issues and work with the IRS to correct your taxes.

If you feel you may need an accountant for your business or personal taxes, contact us to set up an appointment with our accountant and see how he can organize your finances.

Other services AA Tax & Accounting Services, LLC offers:

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435.267.0136
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