TAX REVENUE DROPPING 10% AMID TURMOIL AT IRS Tembo CPAs the firm for entrepreneurs. Recent developments within the Internal Revenue Service (IRS) have raised concerns about potential declines in tax revenue and the agency’s ability to enforce tax laws effectively. IRS Workforce Reductions The Department of Government Efficiency (DOGE), led by tech billionaire Elon Musk…
Tax Deadline Extensions for 2023 & 2024 Due to Hurricane Milton Tembo CPAs the firm for entrepreneurs. As residents and business owners in Florida, it’s crucial to stay informed about tax obligations, especially in the aftermath of natural disasters like Hurricane Milton. The IRS has provided specific relief measures for those affected, including extensions for…
Enhancing Business Profitability: Key Strategies for Entrepreneurs Tembo CPAs the firm for entrepreneurs. Maximizing profitability is crucial for the long-term success and sustainability of any business. As an entrepreneur, understanding the factors that drive profitability enables you to make informed decisions that foster growth and efficiency. Here’s an in-depth look at several strategies to enhance…
Mastering Budgeting and Forecasting: Essential Strategies for Entrepreneurs Tembo CPAs the firm for entrepreneurs. As a seasoned entrepreneur, you recognize that successful navigation of the financial landscape demands more than just intuition. A robust budgeting and forecasting process is critical, serving as both a guiding roadmap and a performance measurement tool. Here’s an in-depth look…
e Smart Financial Strategies for Experienced Entrepreneurs Tembo CPAs the firm for entrepreneurs. As an experienced entrepreneur, you already know that starting a business is just the beginning. To truly thrive, mastering financial management is crucial. This involves not just keeping the books balanced, but also strategically positioning your business for long-term success. Here are…
Employee Retention Credit Clients are reaching out to us every week to ask questions about the ERC, so we thought it would be good to send this out so you have good information you can use to understand this complicated credit better.🤝 What is the Employee Retention Credit (“ECR”)? The employee retention tax credit is a…
So You’ve Decided to Start Your Own Business Tembo CPAs the firm for entrepreneurs. Starting your own business is both and exciting and daunting venture all at once. There are a lot of important decisions to make…and even MORE paperwork to fill out. Ugh… The good thing is – we’re here to help! The first…
The Meaning behind Tembo CPAs Tembo CPAs the firm for entrepreneurs. http://tembocpas.com/wp-content/uploads/2022/04/MOV_9521.mp4 At Tembo CPAs, we take pride in our ability to provide expert guidance and support to businesses of all sizes. Our team is comprised of experienced professionals who are dedicated to helping our clients navigate the complex world of finance and accounting. Like…
What (and When) you Measure Really Does Matter Tembo CPAs the firm for entrepreneurs. http://tembocpas.com/wp-content/uploads/2022/04/final_6245c52873544200ede54054_239412-2.mp4 Anyone in a managerial position knows…the power of real time data is unmatched. With monthly or even weekly reporting of juxtaposed operational + financial data, stakeholders are not given enough to make meaningful decisions. There is a disconnect between management…
Tembo CPAs Tax Saving Tips | Deductions Tembo CPAs the firm for entrepreneurs. In our last video, Ben explained on the Tembo CPAs 3 steps to turn tax into wealth! Create an S-Corp. Pay yourself reasonable compensation – set up an individual 401 K plan for yourself. Pay your kids through your S-Corp. This week…
Tembo CPAs 3 Steps to Turn Tax into Wealth Tembo CPAs the firm for entrepreneurs. In our last video, Ben explains the power of investing in commercial real estate. This week, Ben touches on the Tembo CPAs 3 steps to turn tax into wealth! Create an S-Corp. Pay yourself reasonable compensation – set up an…
The Power of Investing in Commercial Real Estate Tembo CPAs the firm for entrepreneurs. In our last video, Ben explains how to save tax as an LLC and transform tax into wealth. This week is all about the power of investing in commercial real estate. Want to learn exactly how? Reach out to us at Tembo!
What you should be doing to save tax as an LLC Tembo CPAs the firm for entrepreneurs. In our last video, Ben touched on the reasons why you should not claim your children as dependents on your taxes. This week, Ben explains how to save tax as an LLC and transform tax into wealth. Want…
Why you should NOT claim your children as dependents on your taxes. Tembo CPAs the firm for entrepreneurs. In our last video, Ben touches on how to save tax as an entrepreneur. This week Ben talks about the reasons why you should not claim your children as dependents on your taxes. Want to save tax?…
How to save tax as an entrepreneur Tembo CPAs the firm for entrepreneurs. In our last video, Ben touches on what exactly makes Tembo CPAs stand out compared to other firms. This week, Ben is talking about how to save tax as an entrepreneur Want to save tax? Reach out to us at Tembo! Give us…
Why YOU should choose Tembo CPAs! Tembo CPAs the firm for entrepreneurs. In our last video, Ben explains why you should hire your children and the tax benefits it will bring. In this weeks video, Ben touches on what exactly makes Tembo CPAs stand out compared to other firms. Are you sick of your CPA…
Why you SHOULD hire your children Tembo CPAs the firm for entrepreneurs. In our last video, Ben touches on how to maximize wealth as an s-corp while minimizing tax. In this video, Ben explains why you should hire your children and the tax benefits it will bring. Want to save tax with Tembo? Give us a…
How to Maximize Your Wealth as an S-Corp Tembo Tips with Ben Platt In our last video, Ben touched on why we highly recommend LLC’s filing as S-Corps. In this video, Ben touches on how to maximize wealth as an s-corp while minimizing tax. Want to save tax with Tembo? Give us a shout at…
Are you an LLC Filing as an S-Corp? Tembo Tips with Ben Platt In the name of entrepreneurs saving tax, we highly recommend LLC’s filing as S-Corps. Why? Check out this article by investopedia for the details on both filings and their pros & cons. Want to save tax with Tembo? Give us a shout…
LIVE PODCAST APPEARANCE -RecruiterCast – Ep 85 – CAREER PATHS WITH SPECIAL GUEST BEN PLATT Catch founder of Tembo CPAs, Ben Platt, live on RecruiterCast! Tune in to learn more about Ben + how he became an entrepreneur and launched Tembo CPAs. If you liked this podcast, be sure to give RecruiterCast a follow on…
How to Save Tax: How we Structure businesses to transform tax into wealth
Meet the team: Pet Edition Our pets are part of what defines the Tembo team! On any given day, you could stop in the office and likely meet one of our four-legged team members. Even if you can’t stop by to meet them in person, we want you to get to know them virtually! Can…
Client Success Story: Using Depreciation to Your Advantage Using depreciation to your advantage: Today we will be sharing tax accountant Reid Donaldson’s recent client success story. Reid’s client had a portfolio of investments that was heavily weighted in real estate. Real Estate is an asset class that not only generally generates a good monthly cash…
Inspiring Entrepreneur Success Story: Deadhead Productions and The Farm Today we will be sharing a remarkable entrepreneur success story featuring Deadhead Productions and The Farm. They hosted “Gus” the Tembo Adventure Bus this past week, and we can only imagine how epic our RV site would be during a live event! In 2015, Entrepreneur Jon…
Inspiring Entrepreneur Success Story: Point Labaddie Brewery With a mission to create honest, inspired beers for the craft beer fanatic, Rob and Steve Graham started Point Labaddie Brewery in Chesterfield, MO. Prior to starting Point Labaddie, Rob (son) was a Microsoft tech with a passion for basement brewing. While he loved his tech job, he had no…
Tax Deadline Extension: Important message regarding tax deadlines! The IRS has decided to postpone filing deadlines for taxes. With this tax deadline extension came a few other changes, but note that some dates have remained the same. The new tax filing deadline for 1040s will be May 17th Payments due deadline for 2020 tax…
When should you file PPP loan forgiveness? Check out some reasons as to why we may think waiting until 2021 would be best.
When should you file PPP loan forgiveness? Check out some reasons as to why we may think waiting until 2021 would be best.
When should you file PPP loan forgiveness? Check out some reasons as to why we may think waiting until 2021 would be best.
When should you file PPP loan forgiveness? Check out some reasons as to why we may think waiting until 2021 would be best.
More than 150,000 small business websites could be infected at any moment.
There are estimates that there are 80,000 cyber-attacks per day. Many small and midsize businesses tend to think they’re not a target and, therefore, do not invest in web security. Due to the lack of protection of these systems, many of the successful attacks have been targeted at companies of this size.
Many of us often think of billionaires as larger-than-life icons who have somehow been blessed with great fortune and luck…
PPP Flexibility Act – Good news! Or maybe Good news?? Congress passed the Paycheck Protection Program Flexibility Act of 2020 and the President signed it into law. This is a short bill (3 pages) but has the much-anticipated extension of the Covered Period. Here are the highlights of the bill: Highlights of the PPP Flexibility…
In the world of taxes and complex trust structures, things can quickly become mind-throbbingly complicated and confusing…
Have you heard the term “relationship goals”? Well Rozanne and Sean Vorster are just that. Together they run a private reserve in South Africa…
Algorithms sometimes will involve a genealogy, or matrix. This could be a group of people related in some way or a group of transactions related in some way…
PPP Loan Forgiveness Update- This past weekend the SBA released the much-awaited PPP Loan Forgiveness Application. You can access it here: Just prior to the release of the application we recorded a video explaining, in detail, how the loan forgiveness calculation works and we walk through the Tembo PPP Loan Forgiveness Calculator. Check it out…
When you think of the word “algorithm” you might think of a computer producing complicated calculations that seem obscure and irrelevant…
Dealing with an estate can feel complicated, but it doesn’t have to be. It’s important to utilize expertise so that you can maximize your tax deductions…
This Friday the Tembo team has a tidbit of valuable success advice to share with you. This advice is courtesy of a previous client who worked in the technology industry…
PPP Loan Forgiveness & Taxation The SBA resumes receiving applications for the PPP loan today, following the second round of funding that was approved by Congress last week. At this point, it appears that about 30% of those of you who have applied for the PPP Loan have received funding. I’m hopeful that the other…
Here at Tembo one of the things we do best is help you save money, especially when it comes to taxes. We had a client who owned around 20 rental properties…
What if ONE mistake ended up costing you $15,000 dollars? This is something that almost happened to one of our clients…
Thursday Tips with Tembo Collective Your ideal customer is someone who gets their exact needs met by what you are offering. Get out a notepad and pen and jot down exactly what you offer to your customers. What problems do you solve for them or what challenges do you address? Why should people buy from…
The CARES Act, SBA, and US Treasury have combined over the past three weeks to generate more questions than we’ve had to field in the last three years combined! Goodness! We’ll attempt to punch through these quickly for you. Stimulus Checks We are starting to hear that clients are receiving stimulus checks. If you haven’t…
Marketing Tips with Tembo Collective The reason that most businesses fail to achieve outstanding results from their digital marketing is because they lack a clear digital marketing strategy (also known as a digital marketing plan). Focus on Results Nothing you do matters if it isn’t generating results that meet the long-term goals of your company,…
Tuesday Tips- With Tembo Collective When it comes to digital marketing, a strategy is the foundation of all your efforts. All marketing actions you take should tie back to your strategy, and each should serve as collaborative elements of a skillful marketing plan. Keep your Digital Marketing Strategy Relevant Once you’ve established a robust digital…
We would like to introduce you to Tembo Collective, a new Marketing Agency we are proud to be launching! Because we are feeling a little bit like the federal government, we want to give away some FREE money! We will be doing a $500 giveaway for the launch of Tembo Collective. Welcome, we’re glad you’re…
One client of ours had a service-based business with a business partner. They maintained separate parts of the business…
As usual, this is a long blog. Sorry! There’s just so much to share with you. Take a few minutes and read through this please – it’s important stuff, especially if you haven’t filed your PPP loan application yet. It’s a gross understatement to say that the CARES Act and the Interim Final Rule lacked…
Sometimes all our clients need is a little guidance. One of our clients switched from being a W2 employee to a 1099 sub-contractor and as a result we were able to create a business, specifically an S-Corporation for him.
I was on the phone until almost 11pm last night talking with several different bankers about the PPP loan program. The US Treasury and SBA issued a 31 page “Interim Final Rule” (LOL – kind of an oxymoron, no?) yesterday afternoon at about 4pm. There are some clarifications in it, and a couple small changes:…
We’ve received a lot of questions the last couple days about PPP Loan Do’s and Don’ts. Here are some of the most common questions that we believe you all need to know about: Can I include my 2019 1099-MISC contractor payments in my “Payroll Costs?” Yes! The CARES Act has two subsections for the definition…
We are very happy to inform you that the online application for the PPP loan has finally been published. Download Here COVID-19 and the CARES Act are putting employers in situations where solutions are unclear. We want to help bring some clarity to the table. Over the past few days, we have received a lot…
Good news! Just in the last hour the House passed HR 748 – CARES Act and the President has signed it. The bill, as it pertains to small businesses, remained unchanged from. Here are the final terms: The maximum loan amount from a 4X factor to a 2.5X factor Rent and utility payments are included…
Sometimes it’s the little things that make the biggest difference. One of our team members ended up connecting with the founder of a successful e-commerce business at a local coffee shop.
QuickBooks has become one of the most popular accounting softwares around. While it’s fairly easy to use there are so many useful, time-saving shortcuts that many people don’t know about.
One of our clients had sold their business and moved from their hometown. When they moved, they couldn’t forward all of their mail from their business to their new address…
Have you ever experienced something unpredictable that turned out to be one of the best things to happen to you? Something that opened doors of opportunity, but that you never could have planned for?
Tembo CPAs is not your typical CPA firm for many reasons. One of these is that we have experience solving an array of problems for our clients…
Don’t underestimate the power of switching to an S-Corp and if you think it isn’t possible for you, you might be wrong…
A client we work with regularly wanted to take advantage of being able to sell hemp oil since it was legalized in the 2018 farm bill. We knew this was a smart move, but there was a major challenge the client faced.
Education is a fantastic resource, however student loan debt is commonly an unpleasant side effect. In fact, there are over 44 million people in the United States who together owe more than $1.5 trillion dollars in student loan debt…
Lucia Merino and Johan Villafane are the epitome of resilience leading to success. Based in San Juan, Puerto Rico, the couple had a vision to create a local patisserie where Lucia could share her passion for delicious baked goods with their community.
For so many people accounting seems like a foreign language. Can you relate?
Highlighted on the St. Augustine Social’s online forums, Tembo recognizes how wonderfully the writers and editors of the St. Augustine Social capture local businesses and people. Our beautiful city is very fortunate to have such a talented group of people delivering media coverage. There is a true care for locals and their business effort. The…
Powerful women have made a mark on history since the beginning of time. Names like Cleopatra, Joan of Arc, Susan B. Anthony, Rosa Parks, Anne Frank and more recently Oprah Winfrey are just a few examples of women who have changed the world in positive ways by following their passions.
One of our clients came to us with a seemingly simple goal: he wanted to be able to transfer ownership of his business to his children…
When details are overlooked, clients often pay too much tax. This is why our team at Tembo CPAs are experts at extracting the details that matter…
What would you do if your business lost 90% of its revenue in just three months? Unfortunately, this was a reality for one of our clients…
At Tembo we’re all about helping our clients save money using smart strategies. If you missed part one of this series you can check it out here.
It’s a fairly common practice for businesses to spend extra money in order to save tax. However, what if instead of spending extra money all you had to do was spend the same amount of money differently?
In any business, it’s hard to succeed before you determine your goals. So what happens when you don’t really know what your goals are? One of our clients was in this exact position.
Our team at Tembo CPAs has one mission and it’s simple: to help clients be successful. However, the execution can get a little more complex.
Conner Hats is a hat company unlike any other. Family owned, hand crafted, earth friendly and socially conscious are just a few ways to describe this unique business that’s found a way to create beautiful hats while leaving a positive impact on the earth.
In business, some are making a profit while some are generating tax losses. Generating tax losses isn’t the end of the world if the business and its owners have basis to deduct those losses.
One in four people live with a cognitive disorder. That’s a huge portion of society; 25% to be exact. Despite the large number of people living this way, this population is underserved. That’s where IBCCES steps in.
The power of a defined benefit retirement plan is priceless. It offers security and diversification while saving you a substantial amount in taxes, and in dire situations it can provide a chance to rebuild.
