About Us
We serve the tax, accounting, and retirement needs of families and small business owners with a relationship-based approach to client service. We know and understand our clients' needs and goals and assist them in reaching those goals by increasing income, decreasing taxes, and making financial tasks easier and simpler.
How We Got Started
In the 1990s, the accounting profession, like many, underwent a radical restructuring with the adoption of computers. I was caught up in that and determined the only "safe" jobs in the accounting world were on the production side of the profession, where we helped companies and families with tax and financial decisions. So, I started a firm that is now among the top 150 CPA/Financial Advisors (Accounting Today June 2022, 2023).
The products and services we offer
Recommendations Received (53)
"Great people "
"Dean really takes care of his clients, so much so, that when it is time, their children becaome..."
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"Dean really takes care of his clients, so much so, that when it is time, their children becaome his clients, too."
Products & Services
Almost all business owners are over paying their taxes, because they do not know the LEGAL loopholes available to them. Our tax code is complex, o...
Buying your first home can seem overwhelming, and information is your biggest ally. M Dean Owen CPA Firm educates aspiring home buyers in and aroun...
Recommendations Given (41)
"Excellent presenter! Wildly knowledgable about economic history."
"Chad's a great guy who gets results!"
Recent Activity
We work extensively with banks all across the region. What we find is mid-sized regional banks tend to offer all the services of the big banks, but much better service and personalization. We bank at First KY Bank and feel like they provide awesome service. We see the same from First National...
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We work extensively with banks all across the region. What we find is mid-sized regional banks tend to offer all the services of the big banks, but much better service and personalization. We bank at First KY Bank and feel like they provide awesome service. We see the same from First National and Independence banks in particular. I'm sure there are others. The national banks simply are to big to be as flexible as many would like. Credit unions are great, but generally lack the additional services businesses need.
We never closed, but traffic is way down, tax season kicked in the gut, investment revenue is off $75K YTD, new clients dried up for months, but the gridlock seems to be breaking. Things started picking up this week.
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We never closed, but traffic is way down, tax season kicked in the gut, investment revenue is off $75K YTD, new clients dried up for months, but the gridlock seems to be breaking. Things started picking up this week.
Congratulations on starting on your own, I wish you the best of luck in all future endeavors.
The risk of failure is very real for any new business, and should be honestly discussed. For me, I went through a giant down sizing in the military where special ops were no longer valued, then a...
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Congratulations on starting on your own, I wish you the best of luck in all future endeavors.
The risk of failure is very real for any new business, and should be honestly discussed. For me, I went through a giant down sizing in the military where special ops were no longer valued, then a big down sizing when Price WaterHouse and Coopers and Lybrand merged, then when Air Products moved the controller-ship functions to Allentown PA. It felt like corporate America was not a safe place to work, so I took time off and went back to grad school. During grad school I started doing CPA work on the side, and by the time grad school was over was making as much money as I was at Air Products.
I focused on a much under served niche, cutting taxes for small businesses owners and tax smart retirement planning. Those areas are horribly undeserved and I literally became a CPA because I hate paying taxes and want to pay as little as possible legally. Once I honed those skills for my own use, I started sharing those with others.
For the first 5 years I took very little money out of the business, I had "beans on the shelf" to live off of, and had paid everything way ahead, so it was not as hard as it might be for others.
I remember reading a couple places it takes about 10,000 hours experience for the average person to become an expert in something, or about 5 years of working 2000 hours a year. I figured I could compress that into 2.5 by working 4000 hours a year, and pretty much did that.
Long hours, having a product or service that the public wants and needs, being vocal and getting your business in front of a LOT of prospects, and delivering more value than expected still work. It's not easy, but worth it.
As presented, you will likely take 20% of your business income as a deduction, and pay regular tax on the remaining 80%, at what ever effective rate you are paying. This should materially lower your income tax bill. Granted, there is a lot we do not know yet, but for those of us who are up on...
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As presented, you will likely take 20% of your business income as a deduction, and pay regular tax on the remaining 80%, at what ever effective rate you are paying. This should materially lower your income tax bill. Granted, there is a lot we do not know yet, but for those of us who are up on the tax law there is a lot we DO know.
Also lower rates means more money for you. You will also have to contend with some depreciation issues, as is, there is a provision to disallow like kind exchanges for equipment. This comes into play when you buy a truck (or other equipment) fully depreciate it, then trade it in later. You will have to recapture the trade in cost as depreciation recapture, and then write off the new truck/equipment. I am not fond of this rule, but it should not be bad in most cases.
Also the law has provisions that define securities overly broadly, and require the use of FIFO accounting when selling securities. This will have to be worked around as well with investments, but we don't know how the courts will twist the overly broad definition of a security.
Over all its good news, there will be some parts you don't like, but I figure almost all business owners will find that 75% of the law benefits them, and 25% hurts them, so netting out the difference, its a good deal.
It depends, the question can't be answered without a review of what your needs are. All the mainstream software companies have strong and weak points. If you would like a more developed option feel free to contact me
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It depends, the question can't be answered without a review of what your needs are. All the mainstream software companies have strong and weak points. If you would like a more developed option feel free to contact me
Some practical advice... use credit/debit card or pay by check for ALL expenses, this makes a financial instruction your first line bookkeeper. I have yet to see an IRS or state examiner not take those as proof of payment. Yes, the law says keep all those little receipts, but being practical, I...
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Some practical advice... use credit/debit card or pay by check for ALL expenses, this makes a financial instruction your first line bookkeeper. I have yet to see an IRS or state examiner not take those as proof of payment. Yes, the law says keep all those little receipts, but being practical, I don't keep them
