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Monthly Archives: May 2012

2011 1040 Tax Return Changes…will you be lost?

Your question:

Are there changes in what is reported in the 2011 1040 tax returns or where to find the information?

Linda says:

Wouldn’t it be great if the IRS would just make up their mind and stick to it? Yes, there are changes and I am not convinced they really needed to make them. If you are looking in the same old places for cash flow from the tax returns, though, you will not be finding what you need. In fact, in the Tax Return Analysis: Essentials and 1040 Review training for lenders this year I am showing both the 2010 and the 2011 forms. Here is the rundown…

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Is your business loan client ready for the Playoffs?

This post is generalized from an agblog, Farm CPA Today, by Paul Neiffer. Paul is a CPA with an ag background and serving the agricultural community in central Washington.

While his post is titled “Are You Ready for the Super Bowl of Farming?” the suggestions he makes to farmers to be sure their businesses are play-off ready could apply to many types of businesses.

So consider this checklist of ‘best practices’ for any business and see how your business clients measure up. I have put in {brackets} the places to substitute the appropriate wording or practices for the type of business you lend to.

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