Tax Help

How a CPA Can Benefit Your Company

When you own a business, it can be difficult to know every step to take that will have a positive impact on your company. Managing every aspect of your business is no easy feat, especially if you’re not as educated in some areas as you are in others. Consider consulting your CPA or other financial advisor if you have specific questions about your business. Here is a great way to become educated on your finances for your business!

  • Becoming Financially Educated – CPAs are licensed in the state they work in, so having a professional in your corner can help you become more educated about the finances regarding your business. Their expertise and education allow you to see the situation from a professional angle, while also giving you a chance to learn about the standards that each CPA must follow. A CPA will also provide you with everything you need to understand how the finances of your business are doing.

Are you looking for a CPA to help you with taxes in the Honolulu area? Check out for more information about the services. Contact, today! If you’re looking for someone to help you with the financial areas of your business, including taxes, Honolulu has no one better to offer than Michael J. Yuda, a certified public accounting firm.

Taxes Honolulu

Tax Preparation Checklist

Before preparing your income tax return, it’s important that you have everything that you need, and have any and all information ready available. Below is helpful checklist to get you ready for your income tax return preparation: Tax Preparation Checklist

  • If you’re planning to have your return electronically deposited, it’s important to know your bank account and routing number.
  • Social security numbers of your spouse, dependents, and yourself.
  • Education Payments: Forms 1098-T from educational institutions, receipts that itemize qualified educational expenses, and other documents related to student loans or tuition.
  • Employee Information: W-2 forms and other income related documents. If you are self-employed you will need forms 1099-MISC, schedules K-1, and income records to verify amounts not reported on 1099s.
  • Business Expenses: Logs showing total miles driven per year, parking tolls paid, and other expenses related to using a vehicle for business use.
  • Rental Property Income: Records of income and expenses related to rental properties.
  • Retirement Income: Pension, IRA, annuity income (1099-R), Social Security, RRB income (1099-SSA, RRB-1099).
  • Savings and Investments: Interest, dividend income forms (1099-INT, 1099-OID, 1099-DIV). Income from sales of stock (1099-B, 1099-S).
  • Other Income: Unemployment (1099-G), gambling income (W-2G), and other forms related to income or expenses.

When you’re in need of professional tax preparation, visit the premier CPA in Hawaii! Request an appointment with Michael J. Yuda, CPA, LLC in Honolulu, Hawaii today!

Tax Consulting in Honolulu

83901064_scaled_153x180Tax season is here and at Michael J. Yuda, CPA, LLC in Honolulu, Hawaii, we offer tax consulting services for personal preparation as well as business income tax returns. This includes partnership, corporation, S-corporation, and LLC returns. When you choose Michael J. Yuda, you can rest assured that you’re getting the very best tax consulting imaginable. Michael J. Yuda has an extensive tax background that dates back to the years spent working for the Internal Revenue Service.

From tax planning to tax representation, we’re equipped to handle all of your tax needs. We take pride in helping our clients secure a financially healthy future, and look forward to working with you this tax season and beyond. Your success is our success, and we are committed to not only help you reach short term financial goals, but help foster a relationship to keep you financially stable and happy for years to come.

Michael J. Yuda, CPA, LLC not only prepares federal returns, but also prepares all required state tax returns, as well as multi-state returns for those who work in several states during the year. When you’re looking for a CPA in Hawaii to help you with your taxes, there’s only one choice. Choose Michael J. Yuda, CPA, LLC today.

Contact us  today to schedule an appointment to discuss your tax situation.


Start Getting Ready for Tax Season Today

Tax Time Ahead

With Christmas comes a brand new year, and with that brand new year comes another cycle of preparing one’s taxes.  Thankfully, there are numerous steps one can take -starting today- to make the new tax year smoother than ever before. Below are a few steps you can take to make your life easier this tax season.

  • Come up with a plan! It’s not wise or recommended to wait until the very last day to do all of your taxes at once. An easy way to motivate yourself to start your taxes early is to set a calendar reminder that you’ll start them in early February, and try to stick to the reminder. This will help you plan other things around this one task.
  • Meet with a CPA. At Michael J. Yuda, CPA, LLC, we take pride in developing long-term relationships with our clients.
  • Keep your tax documents in one central location. It might be a desk drawer, or a simple folder. However, it’s important that you keep your tax documents that you’ll receive in January and February in one location to ensure they are easy to find.
  • Do a rough estimate. Of course a CPA in Hawaii can help you come up with a closer estimate, but why not do a calculation to see whether or not you’re actually going to owe taxes this year. Try and keep your estimate high, so you don’t have any big surprises when you do get your taxes done.

End of the Year Tips to Maximize your Tax Refund

iStock_000045491268_LargeIt seems that tax season ended just yesterday, but a new season is upon us. Like most Americans, we’re sure that you’re looking for ways to pay no more than what you owe, and even boost your tax refund. Below are a few tips at maximizing your taxes this upcoming season:

  • Travel for work? See the doctor often? Don’t shy away from tax deductions. Believe it or not, but a lot of things add up without you knowing it. Keep a log of tax deductible activities and see if it’s worth writing them off. The same holds true for charitable deductions, and even moving fees if you relocate to a new home.
  • You have until April 15 to open a traditional IRA for the previous tax year.  Typically, traditional IRA contributions reduce taxable income.
  • Consider scheduling health-related exams during the last quarter of the year to boost medical expense deduction potential.  It’s actually been proven that taxpayers who pay particular attention to the calendar improve their chances of receiving a larger refund than those who don’t. Paying property taxes or things like your mortgage before the end of the current year can actually yield a larger refund. Make the calendar your best friend!

Don’t forget that when you’re looking to truly maximize your tax refund to seek out the premier CPA in Hawaii! Visit Michael J. Yuda CPA, LLC today!

Benefits of Filing Taxes Early

Tax Form with Fountain PenWe know tax season just ended, but the reality of tax season being here again is right around the corner. Did you know that there are numerous benefits that come with filing your taxes early? Here are a few reasons you should considering filing early this upcoming year:

  • Taxpayers who have children in college should get tax information early as it will impact the amount of financial aid the student may receive.
  • Filing taxes early can lessen the odds of becoming a victim of identity theft. The sooner a return is filed, the less likely someone else can file a return in your name.
  • When filing early, you have plenty of time to catch potential mistakes. Early planning prevents poor performance, and when you decide to file taxes early you’re not forced to stress out over missing paperwork or trying to meet a tight deadline.
  • Filing earlier gets you your refund much earlier!
  • This one might be a no-brainer, but filing early avoids one to have to file for an extension. People who wait to the last minute often have to go through the process of filing for an extension, which can lead to unneeded and preventable stress plus additional costs.

When tax season is here, seek out the tax consulting professionals in Hawaii at Michael J. Yuda, CPA, LLC.

Summer Special

92001457_scaled_154x210Here at Michael J. Yuda, CPA, LLC, we’re extremely excited to announce our Summer Special. What exactly does it all mean? For a limited time, we will be offering a FREE 30 minute consultation for new clients. This exciting special is just another way to heat up your summer and get yourself down the path to better financial health. Michael J. Yuda is a premier CPA in Hawaii and offers a slew of services to help you make wise financial decisions. Yuda is here to help you manage your tax, accounting, QuickBooks, and other bookkeeping matters.

If you’re interested in benefiting from a free 30 minute consultation, please contact us today to schedule an appointment. Our firm can help manage your business or personal finances with the necessary technical experience and expertise to succeed. When you choose Michael J. Yuda, CPA, LLC, you’re getting personal, reliable, professional and trustworthy service–guaranteed. Take advantage of our amazing summer special today, and get 30 minutes of free consulting from the premier CPA in Hawaii. We firmly believe that your success is our success, and are committed to helping you.

To learn more about our services and to schedule your free consultation visit our website today! We’re looking forward to help you handle your finances.

Why Choose Michael J. Yuda?


Are you looking for financial stability and guidance? Michael J. Yuda, CPA, LLC in Honolulu, Hawaii can handle your personal or business day-to-day accounting! Why should you choose Michael J. Yuda to help with your finances? Consider these reasons when seeking  a CPA in Hawaii:

  • Michael J. Yuda is a Certified QuickBooks ProAdvisor.
  • Michael J. Yuda is a Certified QuickBooks Online ProAdvisor.
  • With 2 certifications in QuickBooks, Michael J. Yuda is a proven professional at bookkeeping services and can help create a personalized service that is unique to your specific and unique business.
  • Michael J. Yuda has a proven track record in accounting and taxes. He began his career working for the IRS before starting his own Accountancy Corporation in 1983.
  • Michael J. Yuda is a licensed CPA in both Hawaii and California.
  • Michael J. Yuda is a member of the Hawaii Society of Certified Public Accountants, the California Society of Certified Public Accountants, and the American Institute of Certified Public Accountants.
  • At Michael J. Yuda, CPA, LLC, we offer tax consulting services that include the preparation of all personal and business income tax returns. We also prepare all required state tax returns, as well as multi-state returns.

If you’re looking for a CPA that you can trust, choose the best CPA in Hawaii, choose Michael Yuda today!

Hawaii Tax Consulting

money-256301_640 (1)Hiring a Certified Public Accountant to help with your taxes is well worth the money spent. If you’re in need of strategic tax planning, which is important for small business owners or individuals with complex returns, someone who pays high income taxes, or have unusual circumstances that warrant the guidance of a professional, then choosing a CPA over another enrolled agent or general tax preparer is highly recommended.

CPAs help provide guidance related to the grey areas of your taxes, whereas anyone can deal with the black and white of filing tax returns. The guidance and strategies provided by a CPA in terms of tax preparation of consulting are based on their interpretation of IRS rulings and past experiences.  Michael Yuda previously worked for the IRS as a revenue agent and has unparalleled experience in handling tax preparation.

When you’re in need of tax consulting in Honolulu, Hawaii, choose Michael J. Yuda, CPA, LLC. The tax consulting services with Michael J. Yuda include the preparation of all personal and business income tax returns. This includes and is not limited to partnership, corporation, S-corporation, and limited liability company returns. We also prepare state tax returns, as well as multi-state returns, such as required for entertainment individuals and professional athletes, who work in several states during a calendar year.

Overlooked Tax Deductions

Every year, the IRS reports on the most common mistakes that taxpayers make on their returns. Everything from missing Social Security numbers to name misspellings make the list. However, there are some mistakes that people make on their taxes every year that you might not be aware of. Here are a few common overlooked tax deductions that you might miss when filing your taxes.

Stupid mistake


  • Dependent Parents: If you’re providing more than 50% of your parent’s financial support, and those expenses exceed 10% of your adjusted gross income, you may qualify for a very large deduction.
  • Sales tax on a new car: Used cars don’t count, and there are a few restrictions, but if you purchased a new car, you might be able to deduct the sales tax.
  • Continuing education deductions: If you itemize your deductions, you may be able to deduct various employee business expenses, including continuing education, professional publication subscriptions, professional association dues, and even tax preparation fees.
  • Business meals and entertainment: If you’re a small business owner or work freelance, you can write off business and entertainment expenses.
  • Home energy efficiency improvements:  If you are or have made your home more energy efficient, you may be able to deduct up to $1,500 off your tax bill.

There are many more hidden deductions that are often overlooked. If you don’t want deductions to be overlooked, consider seeking the tax consulting service of Michael J. Yuda CPA, LCC today!