Author Archives: Melissa Clary

About Melissa Clary

Melissa Clary has been a Colorado licensed CPA since April of 2000. She has been part of Kruger & Clary CPAs since 1999. Melissa enjoys helping people save money on their income taxes. She specializes in preparing income taxes and advising clients as to how tax laws impact them personally. Working with business owners is what she enjoys best and can help advise businesses throughout the year.

Tax Refund – Make the Most Out of It

Posted on April 22, 2012 by Melissa Clary

Did you get a tax refund this year? I’m sure you’ve already heard that you should not be giving the government an interest-free loan. Maybe you’ve decided to change things for 2012 by revising your withholding or estimated tax payments … Continue reading →

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Payroll Tax Cut Extension

Posted on February 3, 2012 by Melissa Clary

Last December, the 4.2% social security tax rate that workers pay on wages was extended through February 29, 2012. Now a Congressional conference is being held to find a way to extend the lower tax rate through the end of … Continue reading →

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2012 Mileage Rate

Posted on January 22, 2012 by Melissa Clary

The IRS recently announced that the mileage rate for business driving in 2012 will be 55.5¢ a mile. The rate can be used for cars, vans, pickups, and panel trucks. Companies that don’t want to keep track of the actual … Continue reading →

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Investment Tax Tips

Posted on November 20, 2011 by Melissa Clary

As year-end approaches, take a closer look at your investment portfolio. There may be some tax-saving strategies worth considering. For example * Wash sales. Thinking of selling a security before December 31 to take advantage of a capital loss? To … Continue reading →

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Some Business Meals are 100% Deductable

Posted on October 24, 2011 by Melissa Clary

How you account for meals can affect your business tax return.  One reason why: While you can generally deduct only half the cost of meals related to your business activities, the tax code includes specific exceptions that allow a deduction … Continue reading →

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Business Succession Planning

Posted on October 2, 2011 by Melissa Clary

Succession planning is very important for any business owner. Before you sit down with your tax and legal advisors to draw up a succession plan, you should think through three key issues: who do you want to succeed you, when … Continue reading →

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DEBT REDUCTION PLAN

Posted on September 5, 2011 by Melissa Clary

On August 2, President Obama signed the Budget Control Act of 2011.  The act plans to: Eliminate waste, fraud and abuse with health insurance and social security Provide an emergency spending reform Provide a balanced budget amendment for Congress to … Continue reading →

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Looking for Financial Freedom – Stay Away From Personal Debt

Posted on August 15, 2011 by Melissa Clary

Staying out of debt is simple, but it’s not easy. It means foregoing impulsive purchases in exchange for long-term financial freedom. Staying out of debt requires that you deny cravings, at least temporarily, for the “must-have” stuff that beckons from … Continue reading →

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Tax Savings – “Savers Credit” Could Cut Your Tax Bill

Posted on August 15, 2011 by Melissa Clary

Are you looking for ways to save $1,000 off your income tax bill? If married, would your spouse be interested in the tax savings of up to $2,000 on a joint return? In order to achieve this kind of tax … Continue reading →

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Tax Deduction for Out of Pocket Expenses for Stray or Feral Animals

Posted on August 2, 2011 by Melissa Clary

If you provide care for stray or feral animals in your home for an IRS-approved charity, you may be able to take a tax deduction for your out-of-pocket expenses. A recent U.S. Tax Court judge ruled that a taxpayer who … Continue reading →

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