David A. Lopez and Company, CPAs

Tremendous Program for those selling their home! Our real estate group is making moves, it seems people love the fact that they can work with a CPA for their home purchase or sale. We have the ability to speak in great detail about the financial and tax impact of the real estate transactions. NOT MANY CAN DO THAT AS A LICENSED PROFESSIONAL. Here is a great opportunity if you are considering selling your home. It is the Compass Concierge service. This program allows you to... make critical updates to your home that will undoubtedly increase the market value of your property. Higher market value, greater sale price. Give me a call at 215-732-9196 if you would like to hear more about this awesome program! #CPAs #RealEstate #trustedadvisor #GoodToHaveLicenses

In case you missed it!

Good morning: This is a post on something taking effect today. This is a SUMMARY, if you need more info, you can reach out. Trump signed an order for a payroll tax holiday. This is not a gift! Basically, between now and the end of the year, certain payroll taxes will not be withheld from your paycheck. It sounds good because your take home will be a little higher.....They are presenting this as if it is a break! Essentially, it is a loan! You have to pay the taxes ba...ck in 2021....meaning, you will see more taxes taken out of your check to pay the taxes you are not paying between today and the end of 2020. This effects those that make less than $4,000 per bi-weekly period. If you own a business and employ people; read the regs...they are not very clear as they just threw this shit out there with no thought....but, we have new obligations for withholding and filing payroll returns as employers. I’m actually trying to read them to get a clearer understand if people can opt out. If your CPA is not bringing this to your attention; you have the wrong firm and should be with us! If your employer hasn’t put out info to you on this, call HR today! If your payroll provider hasn’t mentioned it; you better come to us. Again, just putting this info out because it affects all of us TODAY! David [email protected] #CPA #Employees #Taxes

This is a great read not only for accountants, but for all business owners! https://www.accountingweb.com//being-black-doesnt-mean-im-

Entrepreneurship and owning a business is hard work. Sometimes we get laser focused on delivering the product and/or the service to our clients/customers. But, we also need to focus on building the business and strengthening the foundation of the business. You are building this foundation for growth. In our firm, as CPAs we stress the B.A.S.I.C. of business internally and for our clients. As the owner you need to build and maintain strong relationships with a: Banker... Accountant Securities advisor (build retirement plan) Insurance agents Counselor of law (Business Attorney) Yes, these relationships cost money; but trust me, it is the best investment into YOUR BUSINESS! Need any additional guidance or clarity, you can always find us at [email protected] #CPA #TrustedAdvisor #Entrepreneurship

Buying a house may be the single, largest financial purchase you will make in your life. Doesn’t make sense to have a CPA firm be apart of that decision. Even better, your CPA is also a licensed real estate agent.....well, a major announcement is on the way! #RealEstate #WealthBuilding #YourFinancialFuture

17 years ago, I made a great decision to become an entrepreneur. On this date back in 2003, we opened the doors of our full-service, CPA firm and have never looked back. In 17 years since that date, I have never, ever had to consider going back to being an employee of someone else. And I hope that I never will. 2020 is a year that is starting off with a world not knowing what will happen next; but as always, we focus in on how we will come through this and come out the ot...her side ready to move forward. 17 years doesn’t happen by luck, it happens by having a ton of people helping you. To the staff, our clients, and to you, my friends sending referrals or becoming clients yourself. So I thank all of you as you had/have/and will continue to have a big hand in our success! Here is to all of us standing strong against this worldwide pandemic and coming through to the other side smarter and ready to continue to grow and be successful! Stay safe and healthy! DLo

Always excited to share our knowledge and experience. Here is the article created from my CNBC interview. #Experts #CPAs

16 years ago I made one of the best decision of my life and quit my job and started my own CPA practice. Like with all ventures, there have been ups and downs, but the ups far outpace the downs! People ask what you are most proud of, it’s the fact that I never, ever had to remotely consider going back to being an employee. But with all the fun that we have and successes we have achieved, I couldn’t have done it without the help of many people...too many to name, but have to ...thank Sonya Whitehead, Robert Baron Rose, Andrew BigAn Lott, Tamara Clark Wims, Lisa Baselice, Daniel T. Watford, Keith Hinton and all the others that have either worked with me or sent us all the referrals over the years! Here is to 16 more great years! And my sincere thanks to all my friends, family, and colleagues for being a major part of our success! #CPA #Entrepreneurs #Growth #Success

Today we welcome Waterline Car Wash to the Lopez and Company family! Looking forward to a long, mutually-beneficial relationship! #Growth #BuildingBusinesses #Entrepreneurship

Thanks to Kimberly S. Reed for putting me together with Marques Colston, all-time Saints receiver and PITT Alum Charles Smith (former Knicks star) to be on an awesome three-person, panel yesterday discussing entrepreneurship. Looking forward to working with them in the future...#Network #Miami #NBA #NFL #Entrepreneurship #Grind

Quick Reminder: Today is December 12th, a good time to prep for 2019 by checking your credit report. I know all these free credit services that credit cards offer, but spend the $40 and pull your triple score from one of the credit sites. Before you juice your credit cards and use the holidays as an excuse, prepare for 2019 and ensure your report is accurate. If your score isn’t as high as you wish, make a plan to increase it. You don’t need a credit repair shop to do it......the best and easiest way to increase your credit score is to PAY DOWN YOUR DEBT! Create a spending/budget plan. Stop being the person that misses opportunities because you don’t have cash in the bank. How many opportunities have you missed because you didn’t have liquid resources? Also, you may not think about it, but be aware of the new tax laws that will be reflected on your 2018 tax returns. Your refund may not be as high as usual; so don’t use the I WILL USE MY RETURN TO PAY IT OFF! philosophy. When I give these tips, they are words I speak to myself. I could spend less and save more....I should max out my retirement contribution instead of hanging out....fiscal management is a life-long task! Have a successful year end and a good 2019! This is free advice, but if you want to pay, I am available for drinks and holiday gatherings at anytime!!

PSA: most of you know about the new tax bill that was passed; the problem is, most people don’t understand the effects of this. Even CPAs are still in the process of learning how this will look for clients. It is very hard to know how things will shake out because everyone has a different situation and until you actually start doing taxes, I can’t say with 100 percent certainty what it will look like. Anyway, all this to say, talk to a professional early this year. I anti...cipate NJ residents are going to take a big hit because of the limitation on certain taxes being deductible. A client of mine that pays more than $400,000 in state tax alone will see the vast majority of that deduction now gone... Over the next 60 days, I will be taking classes to learn in more details what this all means. If you have a tax professional; ask him/her what CPE they are taking to get up to speed. CPAs take classes in tax, accounting, development in order to maintain our license. If you are using an unlicensed person, think again. They are NOT MANDATED to perform continuing education to ensure maintaining an expert level of knowledge. You don’t have to come to me...I have FB friends that essentially are competition but I know their skills are high level....like Kimi Brown Ellen Matt McDermott Timothy S. Watson Kerri Conner Matchett if they are in your area, get with them. The bad thing about taxes, many times you need to make moves before year-end! So don’t wait!

As a CPA, the last 1/3 and 1/4 of the calendar year is when we start getting people ready for tax season. With all these new tax laws coming down the road, no one really knows how normal people, business owners, high income earners will be effected; so I suggest if you owed in the past or usually are around break even when you prepare your returns, start making some proactive moves. If you get 1099s because you are an independent contractor, make a few estimated tax payments before year end...or consider putting some money in a SEP or other IRA. Make sure you have documentation for all your deductions. A state like New Jersey where I reside, we are going to get killed by the new state and local tax limitation. So, get in tune on how these new laws will effect you. If anyone ever needs any insight, don’t hesitate to hit me up.