10 Tax Breaks Reauthorized for Tax Year 2014

In late December Congress finally took action, passing the tax extender bill, officially known as the Tax Increase Prevention Act of 2014 (H.R. 5771), which was signed into law by President Obama.

The good news is that these tax provisions are retroactive to January 1, 2014. The bad news is that they expired on December 31, 2014. Even so, you might be able to take advantage of them when you file your 2014 tax return. Let’s take a look at some of the tax provisions most likely to affect taxpayers when filing their 2014 tax returns.

1. Teachers’ Deduction for Certain Expenses
Primary and secondary school teachers buying school supplies out-of-pocket may be able to take an above-the-line deduction of up to $250 for unreimbursed expenses. An above the line deduction means that it can be taken before calculating adjusted gross income. Read more

LMGW Staff Supports our Local Community with 2nd Annual Community Service Day

November 20^th, 2014 dawned rainy and cold but that didn’t stop LMGW staff from their commitment to serving those in need in our community. For our second annual LMGW Community Volunteer Day, we chose a local nonprofit organization, The Saratoga Area Senior Coordinating Council (SASCC). (www.sascc.org)

Once again, our dedicated Senior Accountant Katie Vachon acted as coordinator, working with Partner Michael Bryant and SASCC staff to identify areas of need. Katie rallied LMGW troops into work groups prepared to provide the center and its members with some much needed attention. Read more

LMGW Named One of the “Best Accounting Firms to Work For”

LMGW Certified Public Accountants, LLP (LMGW) was recently named as one of the 2014 Best Accounting Firms to Work for. This annual list is created by Accounting Today and Best Companies Group to identify, recognize and honor the best places of employment in the accounting industry. This is the fifth time that LMGW has been included in the annual list.

The Best Accounting Firms to Work for list is made up of a total of 100 companies, split into three groups: 51 small-sized companies (15-49 employees), 43 medium-sized companies (50-249 employees) and 6 large-sized companies (more than 250 employees). LMGW has been named one of the Best Accounting Firms to Work for in the small firm category.

Read more

6th Annual DAM Cancer Golf Classic – Friday September 19th, 2014

LMGW will once again be participating in the 6th annual DAM Cancer Golf Classic put on by the David Andrew “Pooh” Maddan Foundation. The DAPM Foundation assist  young adults ages 18-35 with costs and living expenses while undergoing cancer treatment that are not covered by insurance or otherwise. Since it’s inception in late 2008 the Foundation has raised over $500,000 and has paid out over $215,000 to more than 125 recipients. To read more about the Foundation and to make a donation, please visit the Foundation’s website at www.dam-cancer.org.

LMGW Extended Family Making National Press

Justina Bryant, wife of audit partner, Michael Bryant has made national news with the expansion of her 21-Day Kindness Challenge. The program was launched last year as a local anti-bullying campaign and is now expanding to more than 50 schools across the nation. Read more in the article featured in American Profile:

http://americanprofile.com/articles/kids-battle-bullying-with-kindness-club/

“LMGW supports and serves many nonprofits in the Bay Area. We foster a culture that gives back to the community and we are very proud of the achievements that Justina is making with the 21-Day Kindness Challenge” said Matt Wheeler, Partner.

For more information on the 21-Day Kindness Challenge, visit www.21daykindnesschallenge.org.