Article published in the Herald Democrat “Best of Texoma Magazine”.

CERTIFIED PUBLIC AC­COUNTANT, JOSEPH (JOE) E. MADDEN of Denison has been chosen Best Ac­countant for the 2011 Best of Texoma^TM magazine.

“My firm is a full service accounting and consulting firm, catering to a wide variety of clients ranging from individuals to medium-sized corporations. I also provide tax and accounting services, including tax planning, tax return preparation, full service payroll processing, bookkeeping, computer consulting, QuickBooks, and new business consulting,” Madden said. “I feel like we were chosen as the Best of Texoma award because we really try to help our clients take care of their tax, accounting and payroll needs in the least painful manner possible. I really enjoy helping the ‘little guy’ get ahead in the business and tax world.”

Joe noted that his business philosophy revolves around teamwork with his clients to best service their needs, with an objective view to assist them in meeting their individual goals. “Whether you need tax planning, tax return preparation, personal financial planning, ¬¬small business consulting, or a full complement of other individualized services, we will give you the full resources you would expect only from a large accounting firm while maintaining the personal touch,” Joe added.

Madden’s office is conveniently located at 609 W. Main Street, Suite 101. Joe praises his staff members Jill Wood and Pam Madden for assisting him. “I probably would never be voted “Best of Texoma” without the help of the greatest staff I could ever hope for.” Joe freely admits.

A veteran of the U.S. Navy, Joe is a native of Oklahoma City, and married his wife, Tracy, in 1994. They have two children, Rachel and Rory. Rachel, 13, is an 8th grader at B. McDaniel Middle School, and Rory, 9, is in fourth grade at Lamar Elementary School. Joe and Tracy are members of the Sherman Bible Church. Joe is on the board of directors of the Grayson County Housing Authority and the American Red Cross – Texoma Chapter. He has also served on the boards of the North Texas Youth Connection and for the Child and Family Guidance Center. His firm is a member of both the Denison and Sherman Chambers of Commerce.

For more information about Joe Madden, please call him or his staff at 903.465.1040. You can also visit his website at www.josephmadden.com, and e-mail him at joe@josephmadden.com.

The IRS has announced a new App for both the iPhone and the Android phones that will allow you to check the status of your refund.  It will also allow you to get tax updates and even Twitter feeds from the IRS.  For more information go to:

IRS.GOV

Do you WANT to get audited? Here are some tips to ensure you get audited. Seriously, if you are doing some of the things on this list documentation and support are extremely important.

http://finance.yahoo.com/taxes/article/111658/irs-audit-red-flags?mod=taxes-filing

If you are in the military or have family in the military the IRS has a page on their website with links to helpful information for military families.

The firm of Joseph E. Madden, CPA thanks all past, present, and future veterans for their service.

http://www.irs.gov/newsroom/article/0,,id=97273,00.html

With the change in the Social Security tax rate for the employee portion of FICA, I am worried that the “little guys” who still do payroll by hand might accidentally omit the reduction when they do payroll.  So if your paycheck is hand written, or you work for someone with less then 20 people you might want to double check your Social Security withholding.  It should equal 4.2% of your taxable income (gross less pre-tax items).  If yours is equals 6.2% then you need to talk to your payroll administrator and remind them of the new law.

Curious to know what the effects the expiration of the Bush tax cuts will have on you? Here is an online calculator you can use to estimate the cost to you personally. I found out for me, if the Bush tax cuts are allowed to expire I will pay over $5,000 more a year in taxes. There goes my new jetski I wanted. (sigh).

2011 Income Tax Calculator

Did you start a non-profit? Are you on the board of a non-profit? Does your church have a non-profit auxiliary? There are 1,000s of non-profits out there that will lose their exempt status on October 15, 2010. The link below will let you see the list of these charities. Please take a second and see if any of the charities you are involved in are on this list. Most of these charities can save their exempt status by filling out a quick online “postcard” with the IRS. Some will need to file a more complex form 990 and should seek advice from a CPA (that’s where I come in. hint hint).

Visit the IRS.Gov Page to view a List of Organizations At Risk of Automatic Revocation of Tax-Exempt Status.