At Michael J. Clark, CPA we believe that an informed client strengthens the accountant/client relationship. Here is a selection of articles that will provide our clients with valuable information.

Why Develop a Business Succession Plan? Like most people, business owners are usually concerned about their own financial security, providing for their loved ones, and keeping their family happy. However, closely held business owners may have the additional concern of keeping the business successful after they are no longer running it, since they (or their family members) could depend on the business to provide continuing financial resources.   Roth IRA Option for 401(k) Accounts The 2001 Tax Act contained a provision allowing elective deferrals (contributions) to Section 401(k) plans to be placed in a Roth IRA beginning in 2006. Congress felt the tax-favored savings choices that some individuals prefer, such as Roth IRAs, should be available to 401(k) participants.   New IRS Guidelines for Vehicle Deductions Following changes made by the 2004 American Jobs Creation Act (2004 Act), the allowable charitable contribution deduction for a vehicle valued at more than $500 depends on the charity's use of the vehicle