The Firm of Gardner & Billing, CPAs PLLC

As the days rush by and 2016 draws swiftly to a close, all of us at Gardner & Billing CPAs want to take a moment to wish you all a safe, prosperous and happy new year.   In the words of C.S. Lewis, "you are never too old to set another goal or dream a new dream" so, may 2017 be a year to achieve your goals and live your dreams!  Our office will be open regular hours on Friday, December 30th and Monday, January 2nd. 

Wishing you a warm and wonderful holiday season,  from all of us at Gardner & Billing CPAs! Our office will be closed on Monday, December 26th  in observance of Christmas Day.   We will reopen with regular hours on Tuesday, December 27th. 

Gardner & Billing CPAs are proud to help sponsor the  Family Business Workshop hosted by the Powder River Extension Office  Family Business Workshop January 24th, 2017 - 1:00 – 5:00 pm Powder River High School Auditorium “The Top Ten Mistakes That Break Up a Family Business!” “We can prevent many daily aggravations and family business catastrophes if we learn from the mistakes of others. This eye-opening, fun filled presentation will highlight the top ten things families do that break up their business. We will discuss in-laws and out-laws, off-site family and estates, daily communications and important meetings. In this value packed workshop, you’ll receive take home tools to assist in the transition and succession of a family business. From conversations to contracts, from assumptions to clarification, from complaints to celebrations, we will open eyes and save fighting on the way to the funeral home.” Presented by: Jolene Brown, CSP  Family Business Consultant

The end of 2016 is in sight, so you might want to consider dropping by the office of Gardner & Billing CPAs to see if there's any last minute steps to take that could improve the numbers on your 2016 return!  The following is an article by Daniel Hood from www.accountingtoday.com   that might give you some food for thought.... With Dec. 31 just around the corner, it’s time to start thinking about next season – and to make any last-minute moves that might improve a client’s tax position. With that in mind, here’s a list of tax tips for you and your clients to think about before the end of 2016, from the National Society of Accountants and others in the field. 1. First – what’s not changing: While President-elect Trump is in a strong position to enact his promise of lower tax brackets next year, it’s important to remember that the current income tax rates of 10, 15, 25, 33, 35 and 39.6 percent are still in effect for the tax returns being filed in April. The standard deductio

Gardner & Billing CPAs are excited to announce our plans for the 2016 Broadus Christmas Stroll! Please come join us at our office Friday, Dec 2nd for the Christmas Stroll from 3-6pm for warm drinks, homemade treats and our FREE family-fun craft and activity! And don't forget, our Christmas Wreath Silent Auction is already underway! Our three beautiful 20” handmade Christmas wreaths (The Past, The Present & The Future) are on display at our office. Please drop by this week and put in your bid! We are also accepting bids via our Facebook page through Dec 1st. Final bids will be taken Dec 2nd on the night of the Christmas Stroll. Get your bids in and DON’T BE A SCROOGE, because all proceeds go to local causes (the Library Storytime, the Angel Tree and the Senior Center)! Plus, the firm of Gardner & Billing will match the bid on each wreath, up to $50!

Wishing you and your families a wonderful Thanksgiving Day filled with the warmth and blessings of the holidays! In observance of Thanksgiving, the office of Gardner & Billing CPAs will be closed Thursday and Friday, November 24th & 25th.  We will reopen with regular hours on  Monday, November 28th. 

Our previous installment of this article by David Roos from HowStuffWorks.com discussed who might need life insurance and what types of life insurance are available. In our third and final installment, we look at how much life insurance you might need and some tips on getting the right policy. How much life insurance do I need? Life insurance is just one part of a larger financial plan. How much life insurance you buy depends on the specific financial needs and circumstances of your family. The trick is to strike a balance between being over-insured and under-insured. Paying too much in premiums can be just as damaging to your overall financial plan as paying too little. The easiest way to think about life insurance is as income replacement. The first step is to figure out exactly how much income you provide to your family. The next step is to figure out how long you're going to need to replace your income. As a general rule, you only need life insurance until your dependent ch

With Respect, Honor & Gratitude ~ ~Happy Veterans Day~ from Gardner & Billing CPAs

We're excited to welcome our local Trick-or-Treaters for Halloween sweets !  Storytime Trick-or-Treat from 10:30 - 12:00 on the Courthouse Square Preschoolers through 2nd grade: Meet at the library at 3:30 pm   for group Trick-or-Treat with adults 3rd Grade and Up: Meet at the library at 3:30pm  for a list of participating businesses

Our previous installment of this article by David Roos from HowStuffWorks.com discussed the basics of life insurance. This week we look at who might need life insurance and what types of life insurance are available. Who Needs Life Insurance? Not everyone needs life insurance. The general rule is that you only need life insurance if you have dependents. Typically, dependents are children who still live at home or have yet to graduate from college. But a dependent could be anyone who is financially dependent on you, like a spouse, sibling or an aging parent. Life insurance is generally designed for younger, working people with families. Here's why: Life insurance is meant to replace your "value" to your family once you're gone. For a working parent, a big part of that value is your salary. If you die, you'll want your family to receive enough money to replace your salary for at least the next five to seven years. Even if you're a stay-at-home parent, you s

If you've thought about life insurance but just don't know where to start, this article by Dave Roos from HowStuffWorks.com might help you with the basics. Life insurance can be an important part of succession planning. We don't sell life insurance, but at Gardner & Billing CPAs, we can certainly help you understand the tax implications and how it fits into the bigger picture of estate and financial planning!   How Life Insurance Works Life insurance should really be called "death insurance." Like other types of insurance, life insurance is protection against the unknown. When you buy life insurance, you're paying for the peace of mind that your family will be taken care of in the event of your sudden demise. Life insurance is the life jacket in the fishing boat. You hope to never have to use it, but it's nice to know it's there. Some people call life insurance gambling. They think that you're throwing away a bunch of money on the

***UPDATE***  11/28/16 Only days before Obama's "Final Rule" overtime reform was to take effect, federal courts have blocked the labor legislation by putting a nationwide preliminary injunction in place.  None of the provisions outlined below are slated to come into effect until further notice.   Key Provisions of the Final Rule The Final Rule focuses primarily on updating the salary and compensation levels needed for Executive, Administrative and Professional workers to be exempt. Specifically, the Final Rule: Sets the standard salary level at the 40th percentile of earnings of full-time salaried workers in the lowest-wage Census Region, currently the South ($913 per week; $47,476 annually for a full-year worker); Sets the total annual compensation requirement for highly compensated employees (HCE) subject to a minimal duties test to the annual equivalent of the 90th percentile of full-time salaried workers nationally ($134,004); and Establishes a mechanism for a

Students and parents can now fill out the Free Application for Federal Student Aid (FAFSA) for the 2017-18 year beginning on Oct. 1, 2016! Things to Remember Your student's FAFSA will need to be completed by the school’s priority deadline for priority consideration for scholarships and financial aid awards. For some schools this is Dec. 1, 2016. You and your student will use completed tax information from two years prior when submitting the FAFSA. So, use 2015 tax information if your student plans on attending college during the 2017-18 school year. If parents and students filed a 2015 federal tax return, they should use the FAFSA IRS Data Retrieval Tool to populate their income on the FAFSA. This will prevent having to submit a copy of the tax return to the financial aid office at a later date. Newly admitted students who meet the Dec. 1 priority deadline will receive award notices before Jan. 1. Current students will begin receiving award notices before March 15. Famil