Tax & Business Insights

I recently wrote an article for Accounting Today discussing how firms can attract and retain Millennials as clients (this group is also known as Generation Y – and refers to those in the 18-to-34 age group). While geared towards accountants, the advice in the article holds true for most industries and businesses. For years the majority […]

I’m excited to announce that for the second year in a row Micah Fraim, CPA has placed as one of The Roanoker’s Best of CPA Firms! We were the only one-man shop to place among CPA practices (with the other winners having between 5 and 30 employees). That kind of grassroots support for a firm this size […]

Read on for information about tax deadlines and how extensions work. But first let me note that I am offering a special free service to assist those who need a little more time to get their tax returns done.  I will file your tax extensions for you at no cost. And I will do it electronically […]

Q: If an accountant’s wife can’t get to sleep, what does she say?   A: “Tell me about work today, dear.” Welcome to Round 2 of Micah’s Accounting 101. A few weeks ago I wrote an article on inventory timing and the effect that can have on your tax bill each year. (Absolutely fascinating stuff, […]

Excited to announce that for the second year running Micah Fraim, CPA has been awarded the Angie’s List Super Service Award! This is given to less than 5% of the companies on Angie’s List and is based on the ratings and testimonials of Angie’s List subscribers. When I started the company several years ago it […]

“I try not to kid myself. You know, I don’t mind romancing someone else, but to fool yourself is pretty devastating and dangerous.”  –  Bill Veeck Hermann Göring was by any measure a horrible human being. During the Second World War he was the second in command of the Nazi Party, the architect of much […]

When we think about the idea of a bonus, there is almost invariably a positive connotation to it. Bonus bucks, bonus bites, and if you’re really fortunate a bonus from your employer. They’re a prize – and all for no additional cost. Yippee! Some companies have even made a science of creating the illusion of […]

Deadlines: Working for the (Tax) Man “Hey now you better listen to me – every one of you We got a lotta lotta lotta lotta work to do Forget about your woman and that water can Today we’re working for the man Well pick up your feet We’ve got a deadline to meet I’m gonna […]

Paying Off Mortgage Quickly? Not So Fast! “Debt is the slavery of the free.” – Publilius Syrus I used that same quote last year for an article on excessive corporate debt – highlighting how burdensome and crippling excessive debt can become to a business. I did note in the same article that debt can have […]

Do Not “Go to Sleep” This Winter “I wonder if the snow loves the trees and fields, that it kisses them so gently? And then it covers them up snug, you know, with a white quilt; and perhaps it says “Go to sleep, darlings, till the summer comes again.” – Lewis Carroll With winter fast […]

Take The Stress Out Of Tax Time By Turning To Certified Public Accountant Micah Fraim Whether you are in need of basic tax preparation, complex tax preparation, or tax planning to ensure you are prepared for all of your tax obligations—I am here to assist you! While taxes may be a source of stress for […]

Payroll is kind of the red-headed stepchild of accounting. And that’s really saying something because everyone hates accounting! Even on the payroll section of my own website I talk about how I don’t much care for it. It’s boring, tedious, and seems deceptively simple. In reality, it is very easy to make mistakes and those […]

Every single year there are updates in the tax law. In 2013 the IRS Tax Code was 73,954 pages long and had almost 1,000 forms! Tax code complexity and changes are nothing new and both are big reasons that I think having a qualified CPA is always important. And this is particularly the case with […]

This is just a reminder to everyone of two important deadlines on September 15th: All extended corporate returns are due 3rd quarter estimated tax payments are due As I mentioned in a previous article, the penalty for late filing of corporate returns is steep. While you have to act quickly, there is still plenty of time […]

This weekend – August 1-3, 2014 – is a Virginia sales tax “holiday” for a long list of “back to school” type items. This applies whether a person is in school or not. The official bulletin states that“items need not be intended for use in school or in connection with a school activity to be eligible for […]

A couple of years back I stumbled on an interesting song called “Mademoiselle Noir.” The whole premise is the same as Rapunzel, except instead of being viewed as virtuous and lovely, the townspeople think she is evil and fear her. This isn’t the first time a classic story has been retold with a drastically different […]

A little bit past tax season, but just got the audio from my second appearance on Cultivate Your Financial Health with Wayne Firebaugh! On the episode we talk about personal taxes. Discussion of extensions, Schedules A, B, C, D, and E, and other personal tax matters. Check it out! Any accounting, business, or tax advice contained in […]

“No need to worry, my accountant handles that” – The Notorious B.I.G Since I’ve been in practice I have found that a lot of people have the Biggie Smalls viewpoint on money management. This sounds reasonable in theory. Accountants are financial professionals. The clients have confidence in their accountants’ expertise and trust what is being […]

Just a quick reminder that tomorrow (May 31st) is the last day of the Virginia Sales Tax Holiday for “Hurricane and Emergency Preparedness Equipment.” These can include: Ice packs Batteries Flashlights Two-way radios Waterproof sheeting Rope Duct tape Bottled water First aid kits Cell phone chargers Portable generators Chain saws Gas containers Several other items […]

“Sometimes I have a difficulty talking to people who don’t race sailboats.” – Bruno Gianelli That was one of my favorite lines from The West Wing, a show where the dialogue was so good and the characters so unbelievably quick-witted that it made you feel like an idiot. In the scene, President Bartlet was upset […]

I wanted to take a moment to thank all of my clients and business associates for making this past year a great one! In the practice’s very first year in business, we received the gold award for The Roanoker  Best of Roanoke CPA Firms! Receiving this is a testament to how fantastic our clients are and […]

As I have noted several times lately (and in case you have been living in a cave and have missed this fact) the deadline for filing your federal income tax returns is Tuesday, April 15. But as has also been discussed, there can be a variety of reasons why someone – perhaps you – is […]

Important Deadline Approaching – Personal Tax Returns “It’s almost the deadline Don’t miss the deadline, darling When all your bad dreams will come true Don’t miss the deadline It’s almost the deadline, darling I wouldn’t want it to happen to you.”           —  Blue Oyster Cult – “Deadline” So once again a very short blog […]

“Something for nothing, a bargain, a steal Used cars on credit card, lost another wheel I’d like to get it for free It’s what the price should be I just wanna pay less I just have to confess Quality and value, always wanting more Tip my hat to the taxman, the revenue does pour” – […]