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At David Kesel CPA, the careful management of your finances is our top priority.
We provide a full range of tax and accounting services for our clients and offer consulting services for special needs…
Business Tax Filing Due for Partnerships & S Cops
Partnerships & S-Corps, File a 2019 calendar year return (Form...
January 27, 2020 – E-File Opens
The IRS has given us a date finally! January 27,...
Blocking Robocalls, Stepping Up Suicide Prevention for Vets, and Appropriating Funds for a New Space Force
Pallone-Thune Telephone Robocall Abuse Criminal Enforcement and Deterrence Act (S 151) – Approximately 58.5 billion robocalls were made in the United States last year, a...
How Businesses Benefit from Big Data Analytics
Previously we looked at the key technology trends in accounting to watch out for in 2020. Among the trends are big data and data analytics,...
6 Ways to Keep Safe When Using Mobile Banking
For the most part, smartphones are your lifeline to the world. You connect with friends and family, shop and update your status on social media....
Safety vs. Probability: Planning For Retirement
As we progress through life, we find there are certain things we can control and others we cannot. However, even with the things we can’t...
How Will 20-Year Treasury Bonds Impact the Economy?
According to a Jan. 16 press release from the U.S. Department of the Treasury, within the first six months of 2020, the federal department will...
Understanding Four Types of Depreciation
Depreciation is an accounting process where the cost of an asset is accounted for and expensed over its useful life. It shows how the value...
When Should You Switch Your Side Hustle to a Business Entity Structure?
Starting a side hustle today is easier than ever. Between the numerous websites that act as marketplaces and project jobs that can be found on...
Protecting TV Viewers, Whistleblowers and Supreme Court Justices; New Status Provisions for Immigrant Workers; and OTC Drugs
Reauthorizing Security for Supreme Court Justices Act of 2019 (HR 4258) – This bill reauthorizes the Marshal of the Supreme Court and the Supreme Court...
Key Technology Trends in Accounting to Watch Out For in 2020
Technology advances continue to reshape industries and businesses – and the accounting industry is no exception. So far, a lot of repetitive tasks are performed...
4 Financial New Years Resolutions You Can Actually Keep
Believe it or not, it’s 2020. You’re not just starting a new year, you’re entering a new decade. With this in mind, you might want...
Economic Correlation: Cyclical and Non-Cyclical Stocks
A rising tide might lift all boats, but the same cannot be said for the economy.When the U.S. experiences robust economic growth, certain sectors of...
How Will Oil Prices Fare in 2020 With Global Events?
When it comes to 2020 and energy prices, the world's energy market will face many known and unknown variables. How and what types of events...
How to Calculate and Analyze Return on Equity
When it comes to evaluating a business, especially one that is publicly traded, determining its return on equity (ROE) is one way to see how...
2020 Tax Brackets, Deductions, Plus More
Beginning on Jan. 1, 2020, the Internal Revenue Service (IRS) has new annual inflation adjustments for tax rates, brackets, deductions and retirement contribution limits. Note, the...
Hanging Flags, Awarding Geniuses, Supporting Hong Kong Protestors and Criminalizing Animal Cruelty
National POW/MIA Flag Act (S 693) – This bill amended title 36 of the United States Code to require that the POW/MIA flag be displayed...
What is Splinternet and Why You Should Care
Eric Schmidt, former Google CEO, made a prediction in September 2018 that the internet will split in two – one part being led by China...
Practicing Gratitude: A Look Back at 2019
It may be hard to believe, but the end of the year is upon us. During this time, many of us might reflect on the...
Gross Domestic Product: A Primer
The economic indicator known as Gross Domestic Product (GDP) represents the dollar value of all purchased goods and services over the course of one year....
What Would a Phase One Deal with China Encompass?
The so-called phase one of a trade deal with China is expected to contain a provision for $40 billion to $50 billion in purchases of...
Furniture, Fixtures and Equipment – and Depreciation
When it comes to determining depreciation for Furniture, Fixtures and Equipment (FF&E), there are many considerations that exist for accountants and business owners.Defining Furniture, Fixtures...
How to Defer, Avoid Paying Capital Gains Tax on Stock Sales
The markets are hitting all-time highs, so if you are thinking of selling stocks now or in the near future, there is a good chance...
Fighting Foreign Terrorism on Homeland Soil, Increased Protections for Clean Water and Low-Income Veterans, and New Appropriations for FY2020
Terrorist and Foreign Fighter Travel Exercise Act of 2019 (HR 1590) – This bill promotes the identification and determent of terrorist activity from reaching the...
How to Stay Safe with Business Email Compromise on the Rise
According to a report by the Financial Crimes Enforcement Network (FinCEN) released in July, financial institutions have incurred more than $9 billion in losses due...
5 Ways to Save on Holiday Gifting
Believe it or not, the holidays are right around the corner. And try as you might, overspending is real – whether you plan ahead or...
What to Expect and How to Prepare for a Recession
Economists generally determine that the country has fallen into a recession after two consecutive quarters of negative gross domestic product (GDP) growth. Since 1967, the...
How Will Ongoing China Trade Tensions Tensions Impact Consumer Spending?
According to the U.S. Department of Commerce and the U.S. Census Bureau, retail sales came in at a negative 0.3 percent for September, even though...
LIFO Versus FIFO and How Each Method Values Inventory
As the name implies, First-In, First-Out (FIFO) is a way for companies to value their inventory. The first items put into inventory or produced by...
Tax Changes 2019
With the start of the fourth quarter of 2019 underway, it's time to see what the Internal Revenue Service (IRS) will expect of filers for...
Debt Relief for Military Service Members, Veterans, Family Farmers and Small Business Owners
Small Business Reorganization Act of 2019 (HR 3311) – Scheduled to take effect starting in February 2020, this new law offers small businesses more agreeable...
What is VPN and Why Do You Need It?
The rise in the number of data breaches reported every other day has become a major concern – even to the ordinary internet user. As...
How Parents Can Save Money for College-Bound Kids
No matter how old your children are, it’s always a good idea to start saving for college as soon as possible. (Yes, even when they’re...
How to Inflation-Proof a Retirement Portfolio
Statistics indicate that the average life expectancy is longer than it used to be, but empirically we see this every day among elderly people who...
Will China’s Recent Soybean Purchase Begin Thawing the Trade War?
With the United States Department of Agriculture’s Foreign Agriculture Service announcing a purchase of 204,000 metric tons of U.S. soybeans by private Chinese importers, there...
When Full Costing Accounting Makes Sense
With more than 1.4 million accounting jobs in 2018, according to the Bureau of Labor Statistics, there are many different uses for accountants and their...
How to Get the IRS to Pre-Approve Your Taxes
It might seem odd, but it is possible to get the IRS to give you a straight-forward and binding answer to ambiguous tax positions in...
Extending Medicaid Funding, the Debt Limit, Membership into the American Legion, and Support For 9-11 Victims, Law Enforcement Officers, and Breastfeeding Moms
Sustaining Excellence in Medicaid Act of 2019 (HR 3253) – This bill authorizes appropriations through fiscal year 2024 and makes changes to several Medicaid programs...
The Rise of Biometrics Security and Why You Should Take Precaution
Biometric technology has been on the rise as it promises to make the authentication process more secure and convenient. Unlike passwords and key cards, biometrics...
5 Money-Saving Ideas for Back-to-School Shopping
Just when you’ve finished spending a bunch on swimsuits and stuff for grilling out, summer’s over and it’s time for the kids the head back...
Lost Inheritance: How To Find a Deceased Parent’s Assets
If you have a relative who recently died and left you in charge of his or her finances, you are not alone. You probably have...
How Will Tariff Developments Impact the Stock Market Going Forward?
According to an Aug. 13 press release from the office of the United States Trade Representative (USTR), there will be a 10 percent tariff levied...
Payroll Management Tips
When it comes to an employer's responsibility for non-exempt workers, according to the U.S. Department of Labor, there are many requirements businesses must follow related...
The Five Key IRS Rules of Taxation for Lawsuit Settlements
Coming out on the winning side of a lawsuit as a plaintiff can be a gratifying feeling, especially if there is a financial settlement involved....
IRS Releases New Projected 2019 Tax Brackets, Rates and More
IRS Releases New Projected 2019 Tax Rates, Brackets and More Bloomberg recently released projected tax rates, brackets and other numbers that apply to the 2019...
2017 vs. 2018 Federal Income Tax Brackets
Single Taxpayers 2018 Tax Rates - Standard Deduction $12,000 2017 Tax Rates - Standard Deduction $6,350 10% 0 to $9,525 10% 0 to $9,325 12%...
Areas of Service: McKinney, Allen, Frisco, Plano & Dallas. Call us we would love to speak with you about your tax and accounting needs :
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