Nelson & Associates, CPA's

Audits often come with misconceptions that create unnecessary stress and confusion. Let’s set the record straight by debunking some of the most common myths: ?? Myth: Audits mean something is wrong. ? Reality: Most audits are routine and can even be triggered by random selection. They’re often a tool for verifying information, not identifying wrongdoing. ?? Myth: Only large corporations get audited. ? Reality: Audits can apply to businesses of all sizes, as well as individuals, depending on various factors like income, deductions, and filing accuracy. ?? Myth: Audits are always invasive and time-consuming. ? Reality: Many audits are straightforward, often conducted via mail and focused on clarifying specific details, not examining every aspect of your financial records. ?? Myth: If you use a tax professional, you won’t get audited. ? Reality: While a qualified CPA can help ensure accurate filings, audits can still occur. The benefit of working with a professional is knowing you’ll have expert support if one happens. Understanding the facts can make audits far less intimidating. Accurate record-keeping and proactive financial planning remain your best defense. #AuditFacts #CPAInsights #TaxAuditMyths

?? It’s WIC (Women in Construction Week?) Week! ??♀? Women in Construction Week? is all about celebrating the incredible women shaping the construction industry, and at Nelson & Associates, we’re proud to be part of NAWIC Sacramento in supporting and uplifting them. From breaking barriers to building the future, we recognize the hard work and dedication of women in construction every day. Join us in honoring their impact! Learn more about WIC Week here: https://wicweek.org #WICWeek #WomenInConstruction #NAWIC #BuildingTheFuture #NAWICSacramento #wicweek #wicweek25 #womeninconstructionweek2025

Navigating taxes can feel like tackling a giant puzzle, especially in the busy world of construction. For women in this field, understanding tax strategies can ease financial stress and pave the way for long-term success. As we start the new year,, here are some essential tips to help you plan effectively and make the most of your hard-earned income. Read more on our blog: https://lnkd.in/g66J59h7 #ConstructionTaxTips #WomenInConstruction #TaxTips #CPA

Financial literacy is a vital skill that benefits individuals throughout their lives, and teaching kids about money early can set them on a path to financial success. In 2025, with digital tools and evolving financial landscapes, there are more creative ways than ever to introduce concepts like budgeting, saving, and investing to children. Here’s a guide to making financial literacy engaging and age-appropriate for kids. Read more on our blog: https://lnkd.in/ge3-kKwi #FinancialLiteracy #KidsMoney #CPAs

It’s Random Act of Kindness Day! ?? Small acts of kindness can make a big impact—not just in our communities, but in the business world, too. Whether it’s donating, volunteering, or simply lending a hand, these gestures build trust, create goodwill, and reflect what your organization stands for. That’s why we’re so passionate about working with nonprofits. Their mission to make a difference inspires us, and we’re proud to support the incredible work they do every day. At Nelson & Associates, CPAs, we believe kindness isn’t just good for the heart—it’s good for the community. What random act of kindness will you do today? ?? #randomactofkindness #cpa #sacramento #bekind #smallbusiness #nonprofit

In the fast-paced world of business, having a mentor can be a key strategic asset. Business mentoring offers invaluable support for achieving success and driving financial growth, whether you're launching a startup, managing an established company, or advancing within your career. Read more on our blog:? https://lnkd.in/gqeufMUX #BusinessMentoring #BusinessTips #CPAs

?????? ???????? ?????? ???????????????????????? ????????: ?????????????? ?????? ?????? ????????! Tax season is approaching, and for construction professionals, staying prepared can make all the difference. These tips can help your business remain compliant and maximize savings in 2025: 1. ???????????????? ???????????? ???????????? ?????? ??????-???????? ???????????? Unexpected changes can impact project costs and timelines. Record all change orders and associated expenses in real time to avoid surprises during tax prep. 2. ???????? ?????????????????? ???? ?????????????? ?????? ???????????????????? If you’ve bought new equipment or vehicles, Section 179 allows you to deduct the full cost upfront rather than spreading it over years. Check if your purchases qualify. 3. ?????????? ?????????????????????????? ???????????????? ?????? ?????????? Make sure you’re collecting W-9 forms from all subcontractors and tracking payments over $600. This will simplify issuing 1099-NEC forms by January’s deadline. 4. ???????????? ???????????? ?????? ?????? ???????????????? Safety isn’t just good practice—it can save you money! Expenses for hard hats, gloves, masks, and other safety gear are deductible, so keep those receipts. 5. ???????? ?????????????? ???????? ?????? ?????????????? ???????????????? If you use a vehicle for business, apps like MileIQ or QuickBooks can simplify mileage tracking. Deduct either the standard rate (65.5 cents per mile for 2023) or actual expenses, whichever saves you more. 6. ???????????????? ???????????????? ???? ???????????????????????? ?????????????? New rules for bonus depreciation in 2025 may affect how you handle heavy equipment and tools. Ask your CPA how to make the most of these changes before filing. 7. ???????? ?????????? ?????? ?????????????? ?????? ?????????????? If you hire employees, explore potential credits like the Work Opportunity Tax Credit (WOTC). Credits reduce your tax bill dollar for dollar, so don’t leave money on the table! 8. ?????????????????? ?????? ?????????????? ?????????????? Avoid last-minute scrambling. Compare your estimated costs with actual expenses each month to ensure accurate financial records and projections. 9. ???????? ???????? ?? ????????????????????????-?????????? ?????? Partner with a CPA who understands construction-specific tax laws, like depreciation schedules for heavy equipment and special deductions for builders. Get proactive now for a smoother tax season and better cash flow in 2025! #ConstructionTaxTips #TaxSeasonReady #BusinessGrowth

The best part of our job is receiving great feedback from our clients. Thank you Darlene!

Nelson & Associates, CPAs is a trusted partner for not-for-profits, construction, and real estate organizations, offering a full suite of services including taxation, attestation, leadership consulting, and strategic planning. We are a diverse group of women dedicated to providing exceptional service with a fresh perspective. Our proactive advice and innovative solutions are grounded in a strong commitment to building meaningful client relationships. We believe success stems from understanding your unique needs and aligning our approach with your long-term goals, ensuring every interaction is focused on delivering outstanding value. Contact us today to learn how we can contribute to your success. ??916-299-6800 ?? Visit us at moncpas.com #Accounting #WomenInBusiness #LeadershipConsulting #CPA

The IRS has announced that the 2024 tax filing season will begin on January 27, 2025. Preparing early can streamline the process and help avoid last-minute challenges. Key steps to take now include: ** Organizing necessary documents (W-2s, 1099s, receipts, etc.). ** Reviewing any tax law changes that may impact your return. ** Verifying your withholdings to avoid surprises. ** Considering e-filing for faster processing and accuracy. Filing early can also reduce the risk of identity theft and provide additional time to plan if taxes are owed. Start preparing today for a smooth and efficient tax season. #TaxSeason #IRSUpdate #TaxPlanning #FinancialTips