Robert Reinert Consulting CPA

  Monthly Newsletter Some helpful insight - A monthly newsletter form Robert Reinert Consulting Budgeting Budgeting can be the means to survival and success:   What happens when there is a water leak and you don't stop it? We all know the reservoir containing the water runs dry. It is the same picture with money as with water. Budgeting is the means to stopping money leaks. It paints the picture of historical and future inflows and outflows of cash. If you budget you survive. Midyear is a great time for budgeting.     Success Budgeting: If you want to succeed with your personal financial goals or your business you must know your budget. Putting together that budget is best performed by experts like Robert Reinert Consulting CPA. We have the experience of budgeting for individuals and businesses.   Key features to budgeting! A detailed line description of each real source of cash income and outflow is presented in a row format with a column for each m

  What is an office in the home? When you use an area of your home exclusively as a main place of conducting business and the purpose of using the space is to generate income, you can deduct the expenses to have and maintain that area as your business office. The area doesn't have to be enclosed by walls but it should have some recognizable boundaries and used "exclusively" for business and nothing but business. You can also include storage areas of your home for supplies as additional office space. Can you have more than one office? Yes, but the office in your home must be the main location for meeting clients, preparing your work and conducting business. Revenue you generate must be identifiable to the office in the home location, even if it is only a portion of your gross revenues. How do you determine the deductions? You must first calculate the square footage of the office space. Then you must calculate the total square footage of your home. The allocation