Our Blog

Take Your Spring Cleaning to the Office with These Tips

Ed Lloyd CPA, PFS, CTC

April 19, 2017

Window washing, carpet cleaning, garden grooming—these are all popular spring cleaning chores for homeowners. However, with year-end and tax season behind you, this time of year is also perfect for spring cleaning at the office. These tips will help you and your staff get—and keep—that “just cleaned my office” feeling:

Start with a clean sweep of...

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These Tax Day Treats Shine Light at the End of the “Tax Season Tunnel”

Ed Lloyd CPA, PFS, CTC

April 3, 2017

With just a few weeks to go until Tax Day on April 18, it’s time to make sure that you’re on track to get your individual return filed. If you haven’t already engaged our firm to help you with your taxes and you need assistance, don’t delay…it’s time to let us know!

While tax season can be stressful, Tax Day itself can be quite rewarding if you...

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Do You Sit All Day? Take a Stand Against a Sedentary Lifestyle

Ed Lloyd CPA, PFS, CTC

March 20, 2017

The average American sits a lot. Many of us sit while we work, while we relax and while we learn. Over the long term, this sedentary way of life can have a negative impact on our health, increasing the risk of diabetes, heart disease and cancer—in addition to shortening life spans. To counteract these negative effects, it’s important to get up, get active and get...

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Set the Stage to Help Your Home Sell This Spring

Ed Lloyd CPA, PFS, CTC

March 1, 2017

Spring is in the air...which means peak home-selling season isn’t far away. In fact, according to recent market data, 60 percent of all home sales in the United States will occur in the spring and summer months. If you’re thinking about putting your home on the market, now is the time to get prepared—which includes considering how you will “stage” your home to...

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Avoid March Madness—Why You Should File Your Taxes Now

Ed Lloyd CPA, PFS, CTC

February 17, 2017

For sports fans, this time of year is an exciting one. First the Super Bowl, and then the buildup toward the NCAA March Madness tournament. While tax season isn’t quite as exciting as these events, you’ll still want to make the effort to get ahead of the game—and the April 18 deadline—to score the benefits of early filing.

Avoiding identity...

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Small Businesses Can Restart Health Reimbursement Accounts in 2017

Ed Lloyd CPA, PFS, CTC

February 1, 2017

Although the fate of the Affordable Care Act (aka Obamacare) is not yet clear, thanks to the passing of the 21st Century Cures Act at the end of 2016, employers with fewer than 50 employees can now start funding stand-alone health reimbursement accounts (HRAs) again. Employees can use HRAs to pay for medical expenses, including health insurance coverage on the Obamacare health insurance...

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Tips to Defend Your Business from Cyber Attacks

Ed Lloyd CPA, PFS, CTC

January 17, 2017

You need only tune into the news to see that cybercrimes are a very real threat. From viruses to malware, everyday computer use and online browsing can leave you vulnerable to hackers who want your valuable information. If you have a small business, your risk of a cyberattack is likely even higher, especially if you do not have the resources or know-how to enact effective security policies....

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Keep the Holidays Merry with These Simple Stress Relievers

Ed Lloyd CPA, PFS, CTC

December 14, 2016

The holiday season can be wonderful, but they can also be one of the most stressful times of the year. Fortunately, the experts at Psychology Today also offer these simple stress relievers to put the joy back in this special time of year:

  1. Take a time-out. Time-outs aren’t just for toddlers who have a tantrum. In fact, rather than being a...

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Year End Tax Considerations - Ed Lloyd and Associates

Ed Lloyd CPA, PFS, CTC

December 9, 2016

The end of the year is rapidly approaching and we have some yearend tax considerations for you:

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Obama’s New Overtime Pay Rule is On Pause—What Does it Mean for Your Business?

Ed Lloyd CPA, PFS, CTC

November 30, 2016

Just days before it was scheduled to be implemented on December 1, a federal judge in Texas has blocked the implementation of the new Department of Labor (DOL) federal overtime rule, which would have doubled the Fair Labor Standards Act’s (FLSA’s) salary threshold for exemption from overtime pay. According to an NPR report, this extension of overtime eligibility would have...

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Take Note of New Business Tax Deadlines in 2017

Ed Lloyd CPA, PFS, CTC

November 15, 2016

As a result of the highway funding extension bill signed into law by President Obama in 2015, there are important changes coming in 2017 to deadlines for business tax filings including:

  1. W-2 and 1099 filings are due January 31 in 2017 instead of March 31. These forms are still due employees and contractors by January 31, so it’s important to prepare and...

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Five Key Areas Every Business Owner Should Review Before Year End

Ed Lloyd CPA, PFS, CTC

November 1, 2016

We’re well in to the fourth quarter of the year, which means year end is fast approaching. Here are five important areas of your business to review before the calendar turns to 2017.

  1. Tax planning opportunities. November and December are prime time for tax planning, which can pay big dividends when filing time arrives. Touch base with our firm now to...

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Start Holiday Gift Giving for the Kids with an IRA Contribution

Ed Lloyd CPA, PFS, CTC

October 17, 2016

If you’re like many parents and grandparents, you may already be thinking about what kind of gift to get the children on your list this holiday season. For teens and young adults especially, it can be challenging to come up with truly unique and meaningful gifts. One idea with long-lasting impact is to make a contribution to either a traditional or Roth IRA on your children or...

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Don’t Let Year-End Cost-Cutting Derail Your Business Goals

Ed Lloyd CPA, PFS, CTC

October 3, 2016

Many businesses need to adjust their spending to meet the reality of their cash flow during the last few months of the year. While it can be tempting to just cut expenses across the board, this strategy may actually backfire if you cut in the wrong places. Here are four budget areas you should try to preserve to avoiding derailing your long-term business goals:

1....

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Wondering About Tax Deductions for Political Contributions? Here’s the Lowdown

Ed Lloyd CPA, PFS, CTC

September 19, 2016

With election season in full swing, you may be wondering, “Are political contributions tax deductible?” Here’s the lowdown:

Whether it’s your county mayor or the future President of the United States, the rules on taking advantage of tax deductions for political contributions are the same: Donations are deductible if the organization you give to is a 501(c)(3)...

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Take Note! The Filing Deadline for W-2s and 1099s is January 31 in 2017

Ed Lloyd CPA, PFS, CTC

September 1, 2016

Consider this blog post as early notice that the date by which employers must file their W-2s and 1099s with the Social Security Administration (SSA) and IRS will change to January 31 in 2017.

Previously, W-2s and 1099s were not due to governmental agencies until March 31, so this new deadline will significantly reduce the window for making any necessary changes. These forms are still...

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The World is Chipping Away at Credit Card Fraud—But Individual Vigilance is Still Key

Ed Lloyd CPA, PFS, CTC

August 16, 2016

EMV chip technology, which is the first major upgrade for credit card fraud protection in many years, is slowly being rolled out by merchants around the world, including in the United States. While this technology has the potential to provide better security for your credit card data, it still has its limits and it is not completely hacker-proof or secure. As such it is still important to be...

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Before the First School Bell Rings, It’s Time to Reset the Alarm Clock

Ed Lloyd CPA, PFS, CTC

August 2, 2016

It’s August and children and parents everywhere are facing a grim reality: back to school season is just around the corner. At this time of year, many parents struggle to get their kids back into a regular sleep routine. To help, we offer these tips to reset your family’s alarm clock before the first school bell rings:

  1. Start tonight. While child...

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Getting Married this Year? Here’s Your Tax Tip Sheet

Ed Lloyd CPA, PFS, CTC

July 18, 2016

While most couples go to great lengths to ensure that their wedding day is perfect, far fewer think about how their nuptials will impact their tax liability. The truth is, the moment you get married, no matter what time of the year it is, in the eyes of the government you are considered to have been married for the entire tax year. With this in mind, here are some tax tips to consider as you...

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Key Lessons from the Financial Fallout of the ‘Brexit’ Vote

Ed Lloyd CPA, PFS, CTC

July 5, 2016

It’s fair to say that the recent ‘Brexit’ vote by Britons to exit the European Union (EU) has shaken global financial markets to their core, at least in the short-term. Financial analysts say that it’s too early to tell what the long-term impact of this historic vote will be. But one thing is for certain, the Brexit offers several important lessons that individual...

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Smart Strategies to Handle the “Downfall” Problem 1 in 4 New Businesses Experience

Ed Lloyd CPA, PFS, CTC

June 21, 2016

One of the most (if not the most) important indicators of business health is its cash flow. Even if your business is profitable and growing, if you don't have a consistent stream of cash coming in, you'll run into financial trouble. Lack of cash flow is the primary reason that more than one quarter of new businesses fail—29 percent to be exact. Here are some smart strategies...

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IRS Fights Scammers – Instructs Staff to Initiate All Future Audits by Mail; Never by Telephone

Ed Lloyd CPA, PFS, CTC

June 10, 2016

With a rise in IRS phone scams, the Agency changed its policy on contacting taxpayers whose tax records are subject to an audit. The new policy instructs IRS agents to contact affected taxpayers only by mail—never by phone (which used to be the IRS’ go-to method of contact). As such, we urge all of our clients to adhere to the following guidelines should...

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No Time to Garden? Try These Time-Saving Tips

Ed Lloyd CPA, PFS, CTC

June 1, 2016

While many of us appreciate the glory of a beautiful garden, there’s no denying that having one is a time-consuming endeavor. That’s why we’ve compiled these tips to help you make the most of your yard in less time:

1. Start with a plan.
A well-thought-out plan for your garden that utilizes low-maintenance plants and flowers will save you time...

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Overtime Pay Eligibility Expanded – What Businesses Need to Know

Ed Lloyd CPA, PFS, CTC

May 20, 2016

President Obama, declaring that “Americans have spent too long working more and getting less in return,” ordered the Labor Department to revise federal rules on overtime pay for salaried workers that log more than 40 hours a week. The long-awaited rule change will extend overtime pay to an estimated 4.2M workers.

Under current federal regulations, only salaried employees...

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Sleep on This! Think Quality Not Quantity When It Comes to Shut-Eye

Ed Lloyd CPA, PFS, CTC

May 16, 2016

We’ve likely all heard the news—Americans are incredibly sleep-deprived. However, according to recent research, achieving better quality sleep may be more important than actually increasing the number of hours of sleep. In fact, experts report that 6 hours of deep refreshing sleep is more beneficial than 8 hours of light interrupted sleep.

May is Better Sleep...

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Be $1,000 Richer by Next Year with These Simple Savings Strategies

Ed Lloyd CPA, PFS, CTC

May 2, 2016

Wow! May is already here—and if you’re like many Americans your savings account balance is still stuck where it was at the beginning of the year. So what to do? You can’t make up for lost savings opportunities…or can you? We believe that you can with a little bit of discipline. For example, saving $125 a month can be as easy as:

  • Renegotiating your...

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5 Actions to Reduce Cyber Liability Risks in Your Business Today

Ed Lloyd CPA, PFS, CTC

April 14, 2016

A quick glance at the news is all it takes to realize that the threat of cyber attacks is increasing for businesses. So how can your business beat the odds and avoid becoming another victim of cybercrime? Try putting the following five action items at the top of your priority list:

  1. Encrypt your data. Whether it's bank routing digits, credit card accounts or...

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Final Check – Did You Claim Every Eligible Tax Deduction?

Ed Lloyd CPA, PFS, CTC

March 31, 2016

Every year, American taxpayers leave millions of dollars on the table for Uncle Sam—in the form of unclaimed tax deductions. With Tax Day just around the corner, it’s time to do one final check to make sure that you are not missing out on three of the most common deductions:

  • Retirement contribution deductions for single-income couples and the...

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Five Snacks to Spring Clean your Body and Mind

Ed Lloyd CPA, PFS, CTC

March 15, 2016

Spring is here and the season for new beginnings. This is a good time to re-think "spring cleaning" and choose snacks that can cleanse our bodies from the inside out.

These five snacks are guaranteed to feed your mind, detoxify your body, and satisfy your palate!

1. Guacamole - High in fiber and “fat” but don’t worry, it’s good fat!...

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We Don't Really Like You

Ed Lloyd CPA, PFS, CTC

March 8, 2016

The actress Sally Field has appeared in dozens of television and movie roles since first appearing as "Gidget." But she's perhaps best known for a 45-second acceptance speech at the 57th Academy Awards, when she accepted the Oscar for Best Actress and told the audience...

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Make Your Spring Break Worry-Free with These Home Security Tips

Ed Lloyd CPA, PFS, CTC

March 1, 2016

If you’re packing your bags for a spring break getaway, take a little time before you leave to implement the tips below—they’ll help keep your home safer while you’re gone, and free your mind of worry so that you can truly enjoy your trip.

  1. Tell your neighbors that you will be away. Inform your neighbors and friends of the dates that you...

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Estate Taxes and Men's Toys

Ed Lloyd CPA, PFS, CTC

February 24, 2016

How much is a classic bright-red Ferrari worth? Well, if it's the 1957 335 S Spider Scaglietti that the French Bardinon family auctioned earlier this month, the answer is €32 million, or around $35.8 million. But if there isn't a convenient auction to establish how much...

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Tax Season is Scam Season... Keep Your Information Safe!

Ed Lloyd CPA, PFS, CTC

February 16, 2016

The IRS has joined with industry and states on a public awareness campaign to provide taxpayers with easy tips to better protect themselves. For some quick tips, you can watch an informative video here.

Tax-related identity theft occurs when someone uses your stolen Social Security Number to file a tax return...

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Defense and The Carolina Panthers

Ed Lloyd CPA, PFS, CTC

February 12, 2016

Football fans who enjoyed Super Bowl 50 all know that while offense may sell tickets, it's defense that wins championships. The Carolina Panthers learned this lesson the hard way Sunday night, losing to the underdog Denver Broncos, 24-10. The Broncos scored just one offensive touchdown on their way to winning the Lombardi Trophy, and gained just 194 yards in total offense, the lowest for any Super Bowl champion

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Identity Protection PIN Letters List Incorrect Tax Year

Ed Lloyd CPA, PFS, CTC

February 1, 2016

According to a recent IRS notice, due to an error, taxpayers are receiving Identity Protection (IP) PIN letters with an incorrect year listed. If you received the CP01A Notice dated January 4, 2016, be aware that the PIN contained in it is valid for use on all individual tax returns filed in...

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Getting Over It… Quick Tips for Beating the Post-Holiday Slump

Ed Lloyd CPA, PFS, CTC

January 18, 2016

It’s a stark reality that millions of us face once the holiday season is over: the post-holiday slump. Even just a few days off can make coming back to the office seem excruciating—there’s all that work to do, the anticipation and cheer of the holidays are gone, and for many people the next vacation day is a long way off. Yes, being a working adult is tough, but getting over...

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Customer Service Goes Social—Is Your Business Prepared?

Ed Lloyd CPA, PFS, CTC

January 4, 2016

If your business engages in social media, you may have noticed an uptick in the number of customers who are posting questions on your Facebook page, tweeting comments or engaging with your company on other social platforms looking for customer service support. It’s a trend that is affecting just about every type of business—and using social media as a customer service channel will...

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IRS Simplifies Filing and Recordkeeping for Small Business – Hooray!

Ed Lloyd CPA, PFS, CTC

December 15, 2015

In an ongoing effort to keep you informed of IRS changes, we have a new and important one to report. And this time, the change eases your filing burden.

Within the last month, the IRS significantly simplified the paperwork and recordkeeping requirements for small business by raising the safe harbor threshold for deducting certain capital items from $500 to $2,500. This applies to...

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Tis the Season! Avoid Common Holiday Scams with These Tips

Ed Lloyd CPA, PFS, CTC

December 1, 2015

As cybercriminals begin to take advantage of the holiday season, it’s important to take extra precautions to avoid having your money, credit card information, social security number, or identity stolen. E-commerce thieves, at this time of year especially, will try to create holiday-related websites, scams, and other phishing e-mails that can trick even the most alert consumers. The...

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The Key to Scoring on Black Friday? Create a Pre-Game Plan

Ed Lloyd CPA, PFS, CTC

November 16, 2015

The countdown is on to the what retailers hype as the best shopping day of the year—the day after Thanksgiving dubbed by Americans as ‘Black Friday’—represents the kick-off to the holiday shopping season. However, given the explosion of retail competition and the Internet in the past several years, Black Friday is really not what it used to be. And if you’re not...

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It’s Tax Planning Time—Here Are Some Money-Saving Tips for Individuals and Businesses

Ed Lloyd CPA, PFS, CTC

November 2, 2015

With just a few short weeks to go before the end of the year, it’s important to take a look at your tax situation and consider ways to decrease your tax obligations. In other words, it’s time for tax planning. We put together the following tips for you to support smart tax decisions:

  1. Stay apprised of potential tax provision extensions. Congress...

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4 Steps to Finding the Sweet Spot for Success

Ed Lloyd CPA, PFS, CTC

October 14, 2015

Ah, the sweet smell of success! Achieving goals and bringing our vision to fruition is the end-game for most of us, especially in our business lives. Unfortunately, success can sometimes elude us to the point where we have to start looking at what, exactly, is going wrong. Perhaps, though, the question we ought to be asking is this: What is going right? By honing in on what is bringing you or...

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Yogi Berra on Taxes

Ed Lloyd CPA, PFS, CTC

October 8, 2015

Last month, one of the most truly American lives came to an end at age 90. Baseball legend Lawrence "Yogi" Berra was a superstar both on and off the field. As a player, he won 10 World Series rings and made the All-Star team 18 times in 19 seasons. He was American League MVP five...

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Ease Aches, Pains and Worker’s Comp Claims with These Ergonomics Tips

Ed Lloyd CPA, PFS, CTC

September 30, 2015

The Human Factors and Ergonomics Society has designated each October as National Ergonomics Month (NEM). Ergonomics is an applied science that incorporates principles of usability into the design process with the goal of making finished products more effective and safe for people to use.

In the workplace, proper ergonomic practices can play an important role in reducing pain,...

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Spending Less Cash on Gas? Use Your Savings to Rev-Up Your Finances

Ed Lloyd CPA, PFS, CTC

September 15, 2015

If you did any road trips over the summer—or you commute to work—you’ve likely noticed that filling up your vehicle doesn’t necessarily empty your wallet anymore. Thanks to lower gas prices, the average American is on track to save approximately $750 on gas this year.

While it’s not life-changing, $750 can make a difference to your personal finances if...

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New Tax Law More Than Doubles Fines for Failure to File Information Returns and Failure to Provide Payee Statements

Ed Lloyd CPA, PFS, CTC

September 1, 2015

The Trade Preferences Extension Act of 2015 was recently signed into law. Part of this new law includes a provision that more than doubles the cap on penalties from $1.5 million to $3 million for 1) failure to file correct tax information returns and 2) failure to provide payee statements. In both cases, fines have been increased from $100 to $250.

These changes are...

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Highway Funding Bill Ushers in New Tax Return Due Dates and Other Important Changes

Ed Lloyd CPA, PFS, CTC

August 13, 2015

As reported by The Journal of Accountancy on July 31, the short-term highway funding extension passed by the Senate—and signed by President Obama—at the end of July contains several important tax provisions (H.R. 3236). The bill was passed by the House of...

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Little Tax Lien on the Prairie

June 22, 2015

Us Weekly is one of those glossy tabloid magazines you see in the checkout line at your local supermarket. Every week, they run a photo feature called “Stars: They’re Just Like Us,” with revealing, slice-of-life gems such as a Bachelorette...

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Pomp and Circumstance

June 16, 2015

June is Graduation Season, and odds are good that you’ve spent some time seated on a cheap folding chair or arena bleacher watching someone proceed down an aisle in an expensive cap and gown. Commencement speakers will thank the faculty, staff,...

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Our New Website!

Ed Lloyd & Associates, PLLC is excited to announce the recent launch of our firm’s new website. We’ve been working very hard to enhance our website and give our firm a fresh look. We’ve also continued to research and identify the latest and greatest technologies to improve the services we provide and ensure we continue to meet your needs.

Take a moment to...

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Guaranteed Loser

April 23, 2015

You’ve bought a lottery ticket or two in your time, right? The Powerball jackpot hits a kajillion dollars, and you realize you really can’t win if you don’t play. So you buy a ticket or two just to nurse that fantasy of champagne wishes...

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Smoke ‘Em If You Got ‘Em

April 15, 2015

Every year, the IRS Criminal Investigations unit (IRS-CI) releases a surprisingly entertaining report detailing their efforts to protect the Treasury from scammers, fraudsters, and cheats. This year’s edition reveals that, due to budget cuts, activity is...

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Big News from Washington

April 1, 2015

Americans have been complaining about income taxes since the IRS unleashed the firstForm 1040 on us back in 1913. Sure, we all hate paying them. But as the tax code has ballooned to twice the length of the Bible (with none of the good news), preparing...

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