BKMSH on How to Prepare for 2017 Ep 41

business

Subscribe to

BKMSH Accounting Firm

Or subscribe with your favorite app by using the address below

EP41: Transcription

Radio Host: Thank you Gordon 8:03 right here 620 AM KEXB your experts in business. Good morning, thanks for joining us on this Wednesday show. The debate and the conversation goes on through the breaks. Learning that owning a horse is a lot of money and we’ve got a couple of guests that we’ll introduce here in a second. one of them owns a horse the other one owns a dog and they both have amazing stories on how much money they spend on their pets. And they bring up an excellent point that there’s a lot of things that you and I might have in our life budget wise that we think we gotta have that but when you compare that trumps the expense of just a sweet little dog might be. It’s 8:03 let’s get a quick check on the weather. It is cooling down perhaps we could go out to the city of Addison at Vitruvian Lights and enjoy this holiday season with a little cooler temperatures on Friday and perhaps a little bit of rain as well.
Michael: Well Friday isn’t gonna be that much cooler than it is today. It’s not gonna be cooler at all. Actually today’s highs is gonna be 60 degrees we got the northwest winds so that windshield will feel a little bit cooler. But then first day of December we’ll start off our morning 38 degrees. Possibly stay in the low forties here in town. 64 degrees for the highs tomorrow, suddenly winds increases the temperature just a little bit, it’s gonna stay partly cloudy and then increasing clouds on Friday and Friday night we got the 50% chance as storm is moving in so I don’t know how late in the evening that storm is gonna move in but it might affect the Vitruvian fun run what’s it
called?
Radio Host: Yeah the run the lights and we talked yesterday when Robert and I met and the pure thing about running, the sport of running is outside you now tornadic activity or anything like that. You run, you run in the rain unlike a lot of sports they cancel it. It’s a very pure sport. I just don’t see myself running this thing. I’m not a runner and I don’t see myself doing that. It’s like I can’t just start running all of a sudden you know. I know you could do it. I know that you could do it.
Michael: I can probably do it. Do we need some more headphones in there?
Radio Host: I’m sorry. . .
Michael: Do we need some more headphones in there?
Radio Host: No it’s just scrambled. We’ll figure it out. But anyway go out and check thast our at the Vitruvian Park. It starts at about 7 o’clock it’s when the fun run itself starts which will be something that we can all enjoy. Okay let’s got to our Pledge of Allegiance today with our good friend Neal McCoy. Let’s do it. (Neal McCoy recites Pledge of Allegiance)
Radio Host: Amen of course you can hear Neal McCoy everyday on Facebook. Go follow, like as Neal McCoy music. What’s making headlines this morning of course we talked about oil prices in the OPEC in the meeting and the deals that hopefully will happen and maybe drive oil above the $50 mark and sustain it to kind of bring some jobs back. We got kind of brewers take on this whole OPEC situation as well to take on this whole OPEC situation as well. For me personally if I was in charge of all that I’d give a big middle finger to the Middle East and I’d say we are done, I’d take my I’d come back home. And I would set up shop here and I would not have any dependency on foreign oil but that’s just why I’m not in the White House, it’s probably a good thing. But that’s what I would do and we’ll see about that. Plus Donald Trump just said about a thousand jobs in Indiana Carrier Aircon struck a deal to keep nearly a thousand employees there in Indiana. It’s really surprising how they left comes out and becomes very critical of all of this saying that Donald Trump is stiff arming businesses and I don’t think he’s stiff arming businesses at all. I think he’s pleading a case to why leave. You know what can we do to keep the jobs and business here in the States. Now this is refreshing Stuart Varney of a Fox Business was on this morning and he cannot recall the last time that president Barack Obama
has reached out to the business world, to corporate America and said “look we want you to stay we want jobs what can I do to keep you here?” and he just disconnected from the business world. And I think it’s refreshing and I think it’s why you’ve seen the stock market and the Dow rally so much and the GDP go up so much in the last 3months. It’s because people, businesses are optimistic about the future. They are optimistic about a presidency. Joining me now is Aaron McPhie and Tony DeYoung both of BKM Sowan Horan. Good morning before we jump into everything both of you guys one owns horses, one owns dogs.
Aaron MacPhie: Yes. That’s right.
Radio Host: What do you think you spend on your horse? Or horses.
Aaron MacPhie: Oh gosh. Several thousands a year I’d say just in hay and feed and vet bills you know they have to come out at least once or twice a year to vaccinations and it’s just…
Radio Host: Now what do you do with this horse? Is it the family rides them? Breeds them?
Aaron MacPhie: Yeah my daughter she really enjoys riding horses and just kind of grew up with them and it’s ..
Radio Host: Very cool. How about you?
Tony DeYoung: On dogs?
Radio Host: On dogs. You laugh because I know your story.
Tony DeYoung: Well you know just this story of him breaking his leg when he was a puppy at four months old, it’s $1500 to do the surgery to fix his leg and you know.
Radio Host: Was that shocking to you. Was that the first time you’d ever bring an animal to a vet and you actually got a figure attached to a service?
Tony DeYoung: Oh! absolutely. Especially in the case of an emergency like that. You know he couldn’t walk on it there was nothing to do and then the surgery didn’t take so they wanted him to take him down to Texas A&M Vet School and spend $5500 dollars to get his leg fixed.
Radio Host: I know Michael is just cringing over there. Of course I am too. I don’t really know what I would do because obviously it’s a puppy it’s whining it’s in pain,
Tony DeYoung: When It’s 4 months old what are you gonna do?
Michael: Yeah I’d say it’s four months old, I just got it so let it be somebody else’s problem I’m not that sure yet.
Radio Host: So you are giving away a broken puppy? It’s what you are doing.
Michael: Somebody else want to pay that much money for it not me.
Radio Host: You are going on Craiglist and listing a dog for sale with a broken leg.
Michael: I get paid hourly I’m just saying.
Tony DeYoung: Didn’t have to pay the $5500 because the leg actually healed on its own.
Radio Host: Well it’s very interesting though when Katy Rose Watson chimed in her horse as well about $10,000 a year. Was that sound about right with you?
Aaron MacPhie: Yeah probably close yeah.
Radio Host: Okay great. With BKM Sowan Horan our official accounting experts on the show as we wrap up 2016. A lot of stuff you gotta do. You are in recaps and prepare for next year.
Aaron MacPhie: Yeah especially in the possibility of a new administration coming in and changing things next year. You know lower tax rates you gotta plan for.
Radio Host: I heard this morning they said by March this new tax plan will be in effect. I mean they are gonna roll it out quick which is good news I think to a lot of people.
Aaron MacPhie: Yeah and they can retro back to the beginning of 2017. So it’s ..
Radio Host: I like that. And of coure Obamacare same thing. Change is going on that. So what do you see in the business community? What are people coming to you and say hey I need help with what, or what are you reaching out to them and say hey this is what you need to do.
Aaron MacPhie: Yeah I think a lot of it is uncertainty now because there’s nothing concrete. You know Trump’s been sort of vague. he’s made some speeches about tax policy but he doesn’t put any firm policies out and you know I guess the overall impression is that tax rates are gonna go down.
Radio Host: Lower taxes are good right? Unless you are the government.
Aaron MacPhie: Right. And there are some things that you wanna do to lower you know when taxes are going down in the future, you know you wanna accelerate expenses as much as possible so that your taxable income this year is lower because it’s not a higher tax rate year. And we just have a couple of things that you know we walk through this morning to discuss that.
Radio Host: Absolutely and there’s a lot of optimism in the business community about this Trump presidency and what 2017 looking forward. So okay what’s some of the first steps that someone should do?
Aaron MacPhie: I think the biggest thing is accelerating expenses. And you know there are several ways businesses that can do that. There’s section 179 deductions, they can instantly deduct 500,000 right off the top of new assets.
Radio Host: Okay so go around your office, find out what you bought this past year. Is that kind of we dumming it down simple is that?
Aaron MacPhie: Yeah. Or if you are going to buy new equipment may be a new piece of machinery you know do it before year end.
Radio Host: Do it before the end of the year. You know we had the Mint Dentistry guys on and that’s what he a matter of fact I think it was Tim had a conversation in the breaks about going out and buying equipment putting it in the air because you would imagine a lot of that stuff is pretty pricey and why not take advantage of all the tax
incentives of what mind you that would be. Okay so what else?
Aaron MacPhie: Yeah the other thing is bonus depreciation. You wanna talk about that a little bit?
Tony DeYoung: Yeah on new assets it can be used so has to be new. You can take 50% deduction in the first year regardless of where it’s placed in service. So if it’s placed in service at 1231, you still get the 50% deduction right off the top.
Radio Host: What if it’s an animal bill that’s part of your business?
Aaron MacPhie: There’s some limitations on autos.
Radio Host: Range Rovers, commercial vehicles that’s 6,000 pounds?
Aaron MacPhie: You know with SUVs there’s a $25,000 limitation on section 179 so you can do 25,000 right up front but then the rest you have to stretch over the life which is 5 years.
Radio Host: Gotcha.So now you know it’s November 30th we are wrapping up. Do people have time to do all of this? I mean it’s not too late if you haven’t started?
Aaron MacPhie: Absolutely not.
Tony DeYoung: Not until the clock strikes midnight December 31st.
Radio Host: Aaron MacPhie and Tony DeYoung in the studio from BKM Sowan Horan our official accounting experts. I actually went to Kevin Rockecharlie yesterday we had a great little conversation at the great offices there. I didn’t realize you guys were right off there tollway in Addison. You ever got to Vitruvian park?
Aaron MacPhie: Yeah. Everyone .. we go over to Addison Circle, Vitruvian Park, we go to the WaterTower Theatre…
Radio Host: Yeah, yeah, yeah. The lights?
Tony DeYoung: Oh absolutely.
Radio Host: So nice. I’ve got three texts from friends of mine they’ve said hey I didn’t know about this. I’m gonna go check it out. I’m like there’s another one.
Aaron MacPhie: Vitruvian Park is where Pokemon people are going right?
Radio Host: I had heard that. Very popular among the Pokemon crowd. Alright we’ll continue this conversation on the other side of the break plus is Japan working themselves to death? You always hear like Japan the hard workers. They go to work but they might be going to work all the way to their grave. We’ll talk about that plus we have been continuous conversation and discussion on the actual cost of owning a dog or in this case horses, pets, whatever, it’s pricey. I’ve got some numbers on that as well. It’s 8:14 stick around we’ll be right back you are listening to 620 AM KEXB your experts in business.
Radio Host: Alright we are back. Hanging out with the guys from BKM Sowan Horan Aaron MacPhie and Tony DeYoung. I love the conversation about pets. I honestly do, and you are a double income no kids.
Tony DeYoung: Yes.
Radio Host: Tony and so I would imagine that you are in that tax bracket that you have none of the dependents you can… You have one. You claim your wife I guess or she claims you . You claim each other right? Is that how it works?
Tony DeYoung: Yes.
Radio Host: But you don’t get the child to earned income credit.
Tony DeYoung: Correct.
Radio Host: Wonderful. And of course you still got animals, you still got your dogs. Is your dog healthy by the way?
Tony DeYoung: He’s very healthy now.
Radio Host: Okay he’s doing fine. No more medical bills?
Tony DeYoung: Right. And he doesn’t have anything in his leg either. It’s healed completely on its own.
Radio Host: Great. Without that additional surgery. Miracle how that works. You start to think for a second that he really need that surgery for $5500? Anyway we are talking about how to get prepared for 2017 and how to wrap up this year. We are going over a couple of things. If you need equipment is there capital on that by the way?
Aaron MacPhie: Yeah so with 179 the investment limitation is at two million and ten thousand. So as long as you don’t go over that in purchasing a lot of small businesses never come close to that but it’s just …
Radio Host: Okay that’s true.
Aaron MacPhie: It’s just to keep the like the large corporate businesses from taking advantage of that. Just more of a small business incentive.
Radio Host: Oh that’s great . You know like you said a lot of small businesses I can imagine there going out and investing 2 million dollars and a new equipment so that’s actually a great plan. The second thing was the bonus was at the ..
Aaron MacPhie: The bonus depreciation.
Radio Host: Bonus depreciation. What else can we add this list of the thins to do to prepare for 2017?
Aaron MacPhie: Yeah I mean just accelerating expenses as much as possible. You know if you are using the accrual basis of accounting, you can actually accrue bonuses that you pay next year as long as you pay them within two and a half months of beginning of 2017.
Radio Host: Okay so if you got something that you are gonna spend in the first quarter in March let’s just say you can do that now as long as you do for a follow through…
Aaron MacPhie: For employee bonuses.
Radio Host: For employee bonuses. Interesting. Now with the employee necessarily want that bonus in 2016…
Aaron MacPhie: Well I mean their tax bill is probably gonna go down too so they want the income in 2017. They are in the lower tax bracket next year. So as long as they pay it pretty close to the beginning of next year you know the price saves some money on their taxes.
Radio Host: Yeah I wish we just had companies that gave bonuses. It used to be a big thing. You gotta get a bonus. Umm alright what else is on this list with things to do for 2017?
Aaron MacPhie: Uhh you know just deferring income is another area you can do that.
Radio Host: That’s a good point. Because I had a buddy that had a great year like this past year and he’s like” I don’t want anymore money. I don’t have to claim anymore income.” Can you just go to your employer and say hey I want to defer my compensation until …
Aaron MacPhie: You can try.
Radio Host: Is there any incentive for them to do that?
Aaron MacPhie: Cash flow.
Radio Host: Cash flow that’s true.
Aaron MacPhie: You know they keep the cash in their bank and they are not getting much interest on it and you know they …
Radio Host: Interesting. Okay so what else do we do?
Tony DeYoung: Uhh, so like if you are a business you know you can you know if your accrual basis again if you take advanced payments so if you get a down payment on something you are creating or you are gonna deliver next year, you don’t have to recognize that income this year. You can defer that income as long as you use that same methodology on your financial statements.
Radio Host: Okay.
Tony DeYoung: So let’s say you are building a truck like the Tesla for instance somebody puts the down payment and they are not getting the extra Tesla until next year, they don’t have to, Tesla doesn’t have to recognize that income if their accrual basis until they actually deliver the product.
Radio Host: Do you like the company by the way? Would you buy one?
Tony DeYoung: Maybe. I live too far out for .. .
Radio Host: Yeah it’s not really practical. Yeah I agree with you on that. It’s funny I’m in on the lower model they can get that price point down to 38 to 41 something that’s comparable to like the Prius or something like that domestic… I’m in. But the 70, the 80, the 100 I can’t justify that I would ever get that back in savings.
Tony DeYoung: And those are the base models too. Including the extra stuff that goes a long with it like the self driving aspect of it.
Radio Host: Yeah I agree with you on that. But other than that I’m in. I always like striking up conversations with people who have left to cars and I’m famous for doing that. If I see somebody getting a parking spot I always go up and talk to them. Do you like it? Do you feel like can you drive a alive? alright if a company takes deposits on something but you are not gonna deliver the product until 2017 you don’t have to claim that?
Tony DeYoung: Yep.
Radio Host: Pretty good job. What’s your day like now? I mean you know you look at kind of people take for granted that anybody that’s in accounting after tax season they think they are just thinking back, going on vacation but that’s not the case at all for you guys. Just get dirty looks from Tim.
Radio Host: Tim, Rick, those guys. But very busy. So if you have small business and I’m gonna make the pitch for you for a second because I know several small business owners and they try to do everything themselves and it runs them in the ground. And there’s a reason why you have grey hair because you can’t do everything yourself. You need to turn over responsibility of special accounting to professionals. Is it too late for someone to call you guys or contact you and say look you know what, I need your services.
Aaron MacPhie: Now is actually a good time of the year to do that because we kind of look at the whole year coming up and start helping them plan out everything with their business and you know stuff like that.
Tony DeYoung: Yeah and in fact I got two calls yesterday for people looking for a new CPA. You know gonna have a different tax year this year than they are used to handling it on their own so you know they reached out you know there’s still definitely time to work on that.
Aaron MacPhie: It’s a good time to start a new.
Radio Host: It is a good time to start a new. Start fresh. Because there’s a lot of stuff that they are probably are missing trying to do it you know themselves anyway. BKM Sowan Horan the website to go to find out all you need to know is http://bkmsh.com/ for all the information on the website you know look them up give them a call you guys deal with a wide range of industries too. That’s the thing your small businesses to corporate America essentially. What’s the number one concern that you are hearing from small business owners right now? I mean you’ve got your finger on the pulse there? What is it?
Aaron MacPhie: I think health care is always a big concern. Should I be providing healthcare to my employees you know these are the people that have 5 to 10 employees and they are saying if it’s feasible. You know they wanna help their employees and help retain you know good talent. . there’s just a wide open field as far as you
know all the uncertainty there.
Radio Host: Yeah I would agree with you on that. I think that healthcare is a huge concern and we’ve heard people on this show that have said hey look I’d rather pay the penalty. It’s cheaper for me to pay the penalty than actually to get health insurance to you know 1500 workers or whatever it would be and hopefully that I’ll get replaced with something I think is appointment in that president elect Donald Trump’s appointment to that particular area is a great one. The guy is an orthopedic surgeon and he has a plan. I can’t wait to see it actually. I think once it’s rolled out, you’ll probably see the business community do back flips over that finally we got something that makes sense. Almost 7 .. . I’m sorry I always say that. 8:28 we’ll continue this conversation on the other side of the break plus Japan working themselves to the grave? One report clearly states that plus we talked about it before, the Four Seasons is having their Christmas tree lighting later on tonight. We’ll have Val Torbert the PR director of the Four Seasons we’ll call in talk about that as well. 8:28 stick around we’ve got plenty ahead right here on 620 AM KEXB your experts in business.
Radio Host: Alright it’s a serious issue going on in Japan right now. Millions of Japanese people are in danger of working themselves into an early grave. A study has shown that one in five workers are at risk of actually working themselves to death. It’s a big problem that Japan has even have their own word for it. I’m probably gonna mispronounce it Karōshi which is death by overwork. It’s something that they’ve been dealing with for decades there as people quite honestly have fallen into serious depression from the social and from the stress of having to work and the harassment from their companies of not working enough drawing people literally to their graves. One of the examples here says that one individual had clocked around 105 hours of overtime in 1 month leading up to her suicide that people just I guess by being told they are not working hard enough or long enough. And also the cases of cardiovascular disease. Heart attacks,things like that, strokes, stress is up to historic highs. So that leads my question, it’s great to have a solid work ethic but my goodness if you are working yourself to the grave, I don’t see how that’s good for you. And looks like it’s a social thing there, it’s a cultural thing of this dedication to working hard. They say the average workweek for someone I don’t know if… this just can’t be true is about 80 hours a week. Can you imagine working 80? That’s almost like. . . that’s brutal.
Tony DeYoung: Yeah. But we do it sometimes during tax season but it’s short term.
Radio Host: Short term. This seems like the typical the average they said is 65 hours of overtime a month but it is quite you know frequent to see and 80 hour work week there in the Japan.
Aaron MacPhie: Well in the U.S. at least I know that it’s really important nowadays are work life balance. So people are looking for jobs one of the number things …
Radio Host: That’s the truth. Millennials have come out and said hey we wanna make sure that … can we work from home? Which you know maybe in some of these cases for technology you can work from home. Maybe that’s a part of it because when it’s all said and done I’ll be honest with you, you know we are not here at work and a lot of times I’m on this laptop right here doing work and you know you can work 2 or 3 hours at night from your laptop you know 14 hours a week or so. But anyway joining us in the studio once again Aaron MacPhie and Tony DeYoung from BKM Sowan Horan our accounting experts on the show talking about how to prepare for 2017 and how to wrap up 2016. Now let’s talk on the individual side of things, what needs to be put in place?
Tony DeYoung: Well for individuals what they need to do is start thinking about the items of income deductions that they can control. We are talking earlier about salaries and bonuses that’s something that employees really don’t have a lot of control over but something that they do is they have investment stocks, they can determine when they sell that stock so you know sell it before the end of the year or right after the end of the year depending on what their tax rate is gonna be coming up and then on the deduction side, you can choose when you pay charitable contributions. You don’t really have much say so on the mortgage interest because you know that’s something you just have to pay throughout the year but you can also do things like pay property taxes. Umm you can actually make it where you pay it twice in one year and then the next year not pay any at all and that way you get a bigger deduction in one year and hopefully have a little lower tax.
Radio Host: Yeah makes sense. It makes sense. As far as the charitable contributions you know I think it’s no having the North Texas Giving Day so late in the year kind of makes sense in a way. It kind of helps whatever funds you wanna to donate makes perfect sense for that rather. Umm, what else can we look forward to?
Aaron MacPhie: Yeah so on the charitable contribution side, you don’t have the cash to give but you plan on giving something in 2017 you can always use a credit card to give. And it’s instantly deductible. And you know I don’t recommend incurring a whole lot of debt but it’s interesting. It is a way to get a deduction in the current year.
Radio Host: Because if you had a 0% interest credit card they knew for 0% for 9 months or whatever. Donate, write that off and of course pay the bill before absolutely. Makes sense, very creative. That’s why you hire the bosses. That’s why people hire you. I wouldn’t ever thought of that.
Tony DeYoung: A lot of charities work with you too on that kind of stuff because they want to help you out as much as you wanna help them out.
Radio Host: So you could write them a check they can hold it? Say hey February 1st at that point. I don’t know. Umm good point though. What else on the individual side?
Aaron MacPhie: Yeah so if you have self employment income one of the biggest benefits is that except for IRA and you can actually deduct payments you make in 2017 as long as you put the money in the IRA account before the due date of your tax return. And if you extend your tax return you have until October 15th to deposit money into a IRA and currently the limits are up around $53,000. So that’s a big chunk of money that you get you know ordinary income deduction for and on your 16 return that you make the payments in 17. So I have some people who will save up during 17 and make the payment in October and you know they extend their tax return.
Radio Host: Smart. Michael, I love being around these guys because I feel like if I had you guys around me 24/7, you would be annoyed by me probably, you wouldn’t wanna hang out with me but I would probably have a lot more money. I would be a little bit more frugal with my cash.
Michael: I think you would turn into someone who’s more interested in asking questions about the money and financial side of things and you are about the electric cars so you would be like oh hey there’s some guys I know about finances … talk to them about that.
Radio Host: That’s true instead of talking to people about electric cars you are right. Yeah I would say let me show you how you can write that off. Write it all off! But we have talked about things that you can write off and of course equipment, investing in equipment, new equipment there’s a limit you know 2 million I think was the limit
for small businesses. That’s something you wanna do and if you think that next year you are gonna, let me give you a scenario, let’s say you have a flower shop and your strip center and there’s a location next to you that’s just opened up you are like “oh that would be a great expansion to my business.” When do you knock that wall down and assume that lease and invest in the counters, the equipment and all that stuff, refrigeration, when you do that do you do it now?
Aaron MacPhie: Yes. You wanna do that soonest possible. Because the equipment actually has to be placed in service. So you need to…
Radio Host: Can’t just be ordered…
Aaron MacPhie: It has to be in service. So it has to be up and running so I guess what you would do in the equipment is you know try to get the finish out done as quickly as possible or if you get this new refrigeration you can actually plug them in to start storing flowers in there.
Radio Host: True.
Aaron MacPhie: Even though you are doing the finish out on that.
Radio Host: Excellent point. Excellent point. So if you have a small business expansion and you are looking to grow your business jump on it. Jump on it quick and the reason I bring that up because I noticed the other day there’s a place I go to about once a week and I noticed they were expanding next door. They had you know ‘coming soon’ kind of deal and maybe think I wonder how much I can write off on this and this coming soon might wanna be coming soon before December 31st … you know do it before the end of the year to take full advantage of every tax break that you can possibly get. About hiring people, about adding employees, is there any incentive to wait 2017 to do that?
Tony DeYoung: Umm, no I don’t think so. I mean it’s more on the expense side so you know of course if you have like a … do a sign on bonus or something like that paid out this year, that way you have that expense this year and you know …
Radio Host: Mmmh, interesting stuff. If you wanna get a hold of them go to http://bkmsh.com/ is the website go to them. You can pull up all the different areas that you guys specialize in and you got a wonderful office off the tollway in Addison. There’s three little buildings, I don’t know which one you are in though.
Aaron MacPhie: Yeah we are on the one that’s closest to the hotel Intercontinental.
Radio Host: Got you. Got you. I saw that one. Umm, alright a bit of advice we have for our listeners as far as how to wrap up the year, anything they need to prepare for on the individual side, on the business side that might be helpful? Pets? Can you write off your pets? That’d be nice right? Let me ask you a question though? What if your pets are part of your business? What if it’s a part of your. . .you know it’s a . .it’s a customer service thing, it’s in your advertising, it’s there everyday, it’s security purposes . . .
Michael: Hey at King’s Chicken. What if your dog is the …
Radio Host: Which that dog died by the way.
Michael: I’m sorry.
Aaron MacPhie: They came too.
Radio Host: I don’t know if they do but with any write off on that stuff for animals?
Aaron MacPhie: I guess the marketing aspect of it would be yeah. It’s will be kind of a stretch but…
Radio Host: Don’t know if you can buy off on everything right? Interesting. Well I guess you can write off if the dog required a special housing or a house, a fixture of something you can say hey it’s for my dog.
Tony DeYoung: Security too. I guess the governments for your property.
Radio Host: That’s what I’m saying. It’s actually legitimate security with government that might be kind of cool.
Michael: And of course if your horse is doing some sort of work on the farm that’s different.
Aaron MacPhie: That is different yes.
Radio Host: If you have a horse and a buggy. Is is an ordeal. That has got that downtown McKinney has a little horse that goes around light up for Christmas or something you could write that off. Right?
Aaron MacPhie: Yeah. Absolutely.
Radio Host: So now we are talking. Writing off pets.
Aaron MacPhie: I need to write some of these down.
Radio Host: I really think the security dog would work. If dog’s is part of my security team I’m writing that bad boy off. 8:43 stick around we got more with these guys plus Val Torbert over at the Four Seasons we are gonna call in talk about this Christmas tree they have going on tonight. 8:43, see you in a few.
Radio Host: Okay I am not quite sure what to say about that song. Who was it?
Michael: That’s No Doubt.
Radio Host: Oh it’s No Doubt, great! The Christmas song?
Michael: That’s the one from MTV his first Christmas album they put out back in may be not the first one but anyway it’s one of them.
Radio Host: I’ve gotta check that out. I’d be up for listening to that. Alright tonight going on at one of my favorite places if I come up missing one day, there’s a couple of places you can check. Go down to Tupps Brewery in McKinney if I’m not there, okay go down to the Four Seasons. Chances are that I could be at the Four Seasons club at Las Colinas hanging out enjoying everything there is at the Four Seasons and of course Val Torbert is on the line talking about the annual tree lighting that takes place tonight. Good morning?
Val Torbert: Hey Brian. Good morning.
Radio Host: Good morning. First of all let me start off with this, how is your foot?
Val Torbert: It is much better. It’s a little bruised and still a little swollen but that’s what happens when you sprain your ankle and bit pain in the middle of the night.
Radio Host: Did you step on the leg or anything?
Val Torbert: I wish it was that silly but no I just tripped over my own foot out of the chair.
Radio Host: Alright so you’ll be there tonight. Starts 6 o’clock, let’s talk about the tree lighting ceremony.
Val Torbert: Yeah we are so excited to get the holidays kicked off. All of our decors up to the lobby and the hotel, we are super excited to finally like the tree today and Santa is going to be arriving to help us light the tree. So the event starts at 6 o’clock and it lasts till about 8. We are going to have cider and hot chocolate and all kinds of holiday treats for everyone to snack on. The Urban Children’s Choir is going to be there from 6:15 to 6:45 and they’ll be singing Christmas songs and carols, about 30 kids from that course there. So that should be . . . and then Santa arrives and we’ll light the tree about 6:45. After that we’ll have Christmas pictures.
Radio Host: Absolutely and if you have not been to the Four Seasons during the holidays and like you said Val, it is decorated like you cannot believe. I mean I actually walk away going back home, redoing my house because I’m like okay this didn’t look right. They know what they are doing over at the Four Seasons. You are putting on a
clinic on how to decorate your house for Christmas. So the tree will sit inside is that correct? Right there in the lobby?
Val Torbert: It is. It is in the lobby yes.
Radio Host: Okay and then there is a free admission to this right? You aren’t charging to come out for the lighting?
Val Torbert: It is complementary and then it is open to the public.
Radio Host: There you go. And of course you enjoy the hot chocolate, eggnog . coffee, .. I’m not a big fan of eggnog open to my guests here. Guys you drink eggnog?
Tony DeYoung: Yeah..
Radio Host: You like it?
Tony DeYoung: I do yeah.
Aaron MacPhie: I’ve actually never had it.
Michael: How long have you been in America?
Radio Host: Eggnog latte. I gotta try that. Anyway I’ll try it with you tonight and it all happens at 6 to 8 the tree lighting ceremony is about 6:45, that’s when the light goes on right? And it will be perfect temperatures for this by the way. Nice and cool.
Val Torbert: I know. Very cozy!
Radio Host: Alright I got one request I gotta take a picture with you me and Santa is that possible?
Val Torbert: Absolutely. I can’t wait.
Radio Host: There you go. I can’t wait either. Come on out. I’ll do some Facebook Live as I’m sitting on Santa’s lap giving him my Christmas list for this year. What is in your Christmas list by the way Val? Just curious.
Val Torbert: My Christmas list?
Radio Host: Yeah.
Val Torbert: Umm, well, this year I’ve been focused on Christmas list you kind of get low. Thats true how about a fancy pair of crunches you try to make your own.
Radio Host: That’s true.
Michael: How about a fancy pair of crutches?
Radio Host: Yeah there you go. A Louis Vuitton crutch.
Val Torbert: That would be totally great.
Radio Host: Alright go on out. For more information on the Four Seasons, got to http://www.fourseasons.com/dallas/ is a great place to start to all the information about the Four Seasons and go out play golf too. It’s a great place to play golf. I’ll talk to the guys in studio. Have you played golf there?
Tony DeYoung: I haven’t.
Aaron MacPhie: I have.
Radio Host: You love it right?
Aaron MacPhie: Oh it’s awesome. Beautiful course.
Radio Host: And I heard some feedback the other day my neighbor played golf there and he said look I am never and because I’ve played in a lot of courses. I have never seen a friendlier stuff at the Four Seasons than I did there.
Val Torbert: Awww.
Radio Host: And I’m not putting words. He’s not putting words in my mouth. That’s exactly what he said. It’s been the friendliest staff he’s ever had. So anyway go check it out the Four Seasons tonight at 6 o’clock right there in the main lobby. Val I’ll see you several hours from now. We’ll have some eggnog and take a selfie.
Val Torbert: Sounds good. See you soon.
Radio Host: See you. Val Torbert, PR, over there at the Four Seasons. I love that place. I really do. When I was with Channel 8 we did several live shots there in the morning and I’m telling you if you can get a staff to wake up at 4:45 am and meet you somewhere, they are good people. It’s hard to do that. It’s very hard. I’ve invited people
to come on the show and say sit in and co host the show you’ve got a great story to tell. . .”No. Can’t wake up.” And they tell you “I can’t get up that early.” I’m like this is not a 5:20 in the morning live hit, this is at 7:00 you should be up. “I will think by 7:00.” On the weekends I’m up by 5:30, no you are not. Come on Tony.
Aaron MacPhie: I set my alarm for 7:45.
Radio Host: How far do you live from the office?
Aaron MacPhie: About 30 minutes.
Radio Host: Okay, well there you go. Alright we are talking to Aaron MacPhie and Tony DeYoung of BKM Sowan Horan our official accounting experts on this show. And you know kind of wrapping up 2017, I will say this before we get into it. Robin, our sports angel Robin, friends of us, friends of the show .. .
Michael: Yes, Robin Valitudio.
Radio Host: Yes. Absolutely. She Facebooked me earlier and it is awesome. U.T. Arlington, the men’s basketball team beat the University of Texas for the first time ever, that’s pretty epic.
Michael: Wait UTAB beat UT?
Radio Host: Yes. Which is the first time it’s ever happened.
Michael: How often have they played each other? I didn’t even think they are in the same competition.
Radio Host: Yeah a lot of times these teams will play different leagues I mean it’s just what they do. The diversity .. but, and she had Facebooked me and said this is kind of cool because actually UTA men’s basketball you know KEXB is the official home of UTA basketball that’s why I’m kind of tying this all into this radio station. I am taking full credit for the win here because you know we’ve had some terrific luck on this station this past year and I just think it’s bleed over to the UTA Arlington basketball team and that’s why they’ve got their first victory. But good for them, that’s historic.
Michael: Absolutely.
Radio Host: I don’t know what the score is but they beat the Texas Longhorns. Here’s the stat for you. College football fans?
Aaron MacPhie: Yeah.
Radio Host: Okay there’s not one Texas team in the top 25.That is the first time I think they said since like . . .I mean a long time ago. Not one team in the top 25.
Aaron MacPhie: It’s embarrassing.
Michael: Last night’s game was 72 – 61.
Radio Host: There you go. That’s a convincing win. So I ask you, are we losing talent here in Texas? Are we not from the high school level, is it not as competitive or are those people moving out of the state to go to these other schools?
Aaron MacPhie: It’s all going to LSU.
Radio Host: Or Alabama. Right?
Tony DeYoung: He’s an LSU fan.
Radio Host: Well you might loose your coach too. I’ve heard some rumors about the coach.
Aaron MacPhie: We’ve got Coach Joel locked in.
Radio Host: Okay. And of course you know Les MIles was another one that’s been on the list for a place down in to replace down in Baylor. Some chat going on about that.
Aaron MacPhie: He’s a good coach.
Radio Host: But I think it’s kind of odd that there’s not been a team in the top 25 in the city of Texas. Houston at one point looked really good. And I think they just had a couple of key losses that pushed them back out but anyway I love college football I love talking about it. Alright so contact information for you guys one more time we
got about a minute and a half left so I’ll make sure we have all this out. Go to the website it’s right here http://bkmsh.com/ and any particular email for you or if somebody says hey I got a quick question, I wanna get hold of you what’s the best way to do that?
Aaron MacPhie: Yeah my email address is amacphie@bkmsh.com.
Radio Host: There you go. Or just give him a call. Do you have your main number there at the . . . the main is 214-545-3965. That’s 214-545-3965. Give him a call.
Michael: Or 855-545-4CPA.
Radio Host: There you go. Got that vanity number. Good stuff there. Prepare for the 2017 tax season which Donald Trump has promised to be big changes and I think everyone is pretty optimistic about that to the most part. Well thank you so much for joining us. We’ll see you back here tomorrow. 620AM KEXB. I’m trying to get some special guests in the studio but I just can’t get people to wake up in the morning. I wanna thank you guys for waking up. And once again, go spend money what did Bob Barker say? Go spade your pets in New Year? We’ll leave it on a pet note here.
Michael: Yeah. That’s right.
Radio Host: Money well spent. You don’t need 20 kitties and 20 dogs around your property. So thank you so much for joining us. Go like us on Facebook, follow us on Twitter all that good stuff and we’ll see you back here tomorrow bright and early. 620AM KEXB. See you.

Download PDF