SBG CONSULTING, INC. &

BOOKKEEPING MATTERS, LLC

Table of Contents:

Deadline Reminders…. Page 1

Welcome …. Page 2

Tax Cuts and Jobs Act… Page 3

Sara’s Corner…. Page 4

Testimonial …. Page 5

Calendars…. Page 6-7

Forms 1120, 1040, and 1041 returns

AND extensions, along with 941 EFTPS

Payments are due 4/17/18!

An extension is only additional time to file a

complete and accurate return, NOT for additional

time to pay. If you think you may owe tax, it is

better to pay the tax on or before 4/17/2018 by

mailing a certified check or online at

WWW.IRS.GOV

Reginald M. referred by Jackie M. Donna W. referred by Becky M.

Misha Y. referred by Chris G. Pam M. referred by Josh G.

Lito V. referred by Leah. Edward W. referred by Jeanne B.

Daniel & Leslie Y. referred by Sam T. Doug C. referred by Becky M.

Scott H. referred by Randy G. Ronald A. referred by Richard R.

Page 2

Please welcome Yasmil & Joyce to our team!

Many of you have already spoken to our newest additions. Here is a little more about them.

Yasmil Quintero Yasmil has more than 16 years of experience in different roles as an accountant

within a variety of industries. She started her career upon graduating with a bach-

elor’s degree of Accounting, major in Public Accounting, from the Universidad

Cooperativa de Colombia and a Specialization in Forensic from the Saint Thomas

University, Miami Gardens, Florida.

Yasmil has an extensive experience in areas such as bookkeeping, taxes, auditing,

financial analysis as well as a demonstrated track record of preparation of financial

reports to summarize and ensure compliance with financial integrity. She has de-

veloped her skills in these areas working as an accountant within private and pub-

lic firms, both in her native Colombia as well as the United States.

During her career, Yasmil has served clients in a variety of industries, including aviation, construction, phar-

maceutical, securities brokerage, manufacturing, franchises, petroleum, wholesale distribution, retail, and gov-

ernment. The clients she has served ranged in size from entrepreneurial start-ups to major corporations.

Joyce Soriano Joyce started her career with KPMG LLP and PricewaterhouseCoopers LLP

after graduating from the University of Southern California where she re-

ceived a Masters in Business Taxation as well as dual Bachelor of Science

Degrees majoring in Accounting, Finance and Information Systems. She has

worked with Fortune 500 companies, pension funds, private equity and in-

vestment management firms, financial institutions, healthcare organizations,

consumer products, manufacturing, technology, retail, transportation, phar-

maceutical, and many others.

After leaving the Big 4, she started specializing in real estate and worked for several, multi-billion commer-

cial real estate development and investment companies throughout Southern California. Her career includes

roles as CFO, Controller, Director of Information Technology, and other titles. She has over fifteen years

proven experience in analyzing results of operations for profit maximization. She is an expert in efficiently

utilizing resources in real estate and other industries, strategic planning, managing assets, evaluating multi-

billion commercial real estate transactions, increasing revenues and developing a company’s vision and di-

rection.

Currently, she is a member of the American Institute of Certified Public Accountants (AICPA) Real Estate

and Construction Steering Committee.

Page 3

Tax Cuts & Jobs Act

We want to let you in on a little secret– the people who wrote this had no idea what they were doing. We will

need to wait to see how the IRS will handle some of these issues, then we will have to wait for all those super

smart guys to figure out how to best use these new rules, and then we will have to figure out how to put our

little twist on them. Yes, there was a major tax change for 2018, and we do have some broad ideas but we

certainly do not know enough details to be making major changes. It took Obamacare several years before

anyone knew how it worked, the same will happen with this tax law change.

So far, we are not a big fan of this plan. We do not think it is good for the country. It helps Big Corporations

and people who have a lot of their net worth in real estate. It would have been much better to cut

government spending. But, hey– that’s our opinion.

Here are some of the highlights: Individual Taxes

Tax Brackets: These were changed and lowered. Overall a good thing for everyone.

Standard deduction: This doubled. Less people will need to itemize. So, will want to time or bunch

deductions, itemizing one year and taking the standard deduction the next year.

Personal exemptions : This was eliminated. Not good for people with a lot of dependents.

Child Tax Credit: This was increased to $2,000 per kid, with up to $1,400 refundable. There is

also a $500 credit for other qualifying dependents (older kids and parents).

Mortgage interest: Is now limited to the interest on the first $750,000.

Home equity interest is not deductible.

State income &

Property taxes: Capped at $10,000

Casualty losses: Can only be claimed if attributable to a presidentially declared disaster area.

Charity: Can now be deducted up to 60% of your income (vs. 50% for 2017). However it

takes away the deduction for college athletic event seating rights.

Misc. Deductions: These were eliminated—no more deductions for tax prep fees, financial advisor fees,

legal fees including trusts and unreimbursed work expenses.

Medical expense: Deductible for amounts greater than 7.5% of your income.

Alimony deduction: Is gone for any agreement executed after 12/31/2018.

Moving expenses: Eliminated—unless you’re in the military.

Page 4

It seems like 2018 is going to be the year of change.

We started with the new tax law in addition to our internal changes. For us here at SBG, 2018 will be our year of growth as

a team.

Amber has done a fabulous job of stepping into Cherie's role. We were able to see her recently, and it was so good to see

her standing of her own accord. Unfortunately, she still needs all our well wishes for her continued recovery. We have new

additions to the tax and accounting team, Yasmil, and Joyce. This phase has been a laborious one for the SBG Team. Replac-

ing team members can be challenging, and we so appreciate your patience and understanding as we work through this pro-

cess.

I am a big fan of procedures and checklists, and in some areas of the firm, they have been lacking. We have been working

diligently to implement these procedures and checklists so that my accountants, tax preparers and administrative team

have the tools to guide them and more importantly to better serve your tax and accounting needs. It takes a tremendous

amount of time and energy in training and managing the flow of work through the office. I’ll be honest, these changes keep

me up at night, as do as my concerns over meeting the needs and expectations of you, our clients. As I am sure, you have

found in your businesses or jobs, working seven days a week for multiple weeks in a row cannot long be supported, for a

person’s mental and emotional health, much less their productivity. Our team here is working together to set our proce-

dures and lists in motion, as well as improving our deadline communications, that will hopefully alleviate the stress and the

worry that is keeping me up at night and working weeks together without a break. The honest truth is there are just not

enough hours during the tax season to ensure that everyone is filed by April 15th. (see my comments below)

Some of these checklists and questionnaires have impacted you, our clients. We have always requested them, but this year

we made them mandatory. Why? It is because we cannot prepare a complete and accurate return without them. We can-

not do what is in your best interest without the knowledge you have in your heads about your accounting and taxes. These

questions, checklists, organizers and service agreements help us to assist you more efficiently. The more time we spend

requesting and extracting this information, the more it will cost you. You pay us for our knowledge and expertise which we

cannot apply effectually without your timely cooperation. Ultimately it is your business and taxes. You know your situation

best, so please share that knowledge.

I believe (ok, hope) with these new and improved procedures and checklists, 2019 will be better for both you and my team,

especially as we prepare for a unique tax filing season. I should caution you, the start of the 2019 tax season might be slow

or rough because there is a lot of work to be done by the folks who wrote the new law and they are already making chang-

es to the law. Then, the IRS will provide their interpretation and compose the instructions to the new forms and forms that

are changing. Finally, the tax software companies then have to write the software. I am saying this because it would not

surprise me if the IRS is not ready to begin tax season by the end of January 2019. To prepare you, this might mean more

people will need to extend their returns. Please do not shoot the messengers if that is the case. Work with us, as it is as

much out of our control as it is yours. We will just have to wait to see, but being that is already April 1, and they are still

writing new law… You might be asking, why don’t they move the due date back? What a novel idea! The condensed time to

receive your tax forms (that is a whole other subject, can you believe we have numerous clients still receiving 1099's and/or

corrected ones, brokerage firms have until 03/15 to file and are continuing to make changes) and the due date of returns is

too compressed. Feel free to suggest to your Congressman or Senator moving the tax deadline date for everyone!

We are grateful for your business and your trust in us. We always value your feedback. Please let us know when we do well

and let us know how we can improve your experience.

I do appreciate your patience during this transition.

March 18th, Cubs vs Indians. It would have been my dad’s 100th birthday and he loved baseball as much as Luke does!

PLAY BALL!

“I just wanted to drop you and your team a big THANK YOU for your hard work and excellent service preparing my taxes for me.

Every time I have questions or need help you are a quick email away. You get back with me in a timely manner and do an excellent job explaining matters and options to me. I very much appreciate your professional manner and your top of the line service. I am so glad you were referred to me 6 years ago.

Again, thank you and have a great day.

Kathy B.”

It is a pleasure to serve all our clients! Here is one testimonial that makes us smile.

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April 2018

SUN MON TUE WED THU FRI SAT

1

2 3 4 5 6 7

8 9 10 11 12

13 14

15 16

941 EFTPS PAY-

MENTS ARE DUE—>

17FORM 1120,

1040, & 1041

RETURNS &

EXTENSIONS ARE

18 19 20 21

22 23 24 25 26 27 28

29 30

May 2018

SUN MON TUE WED THU FRI SAT

1PAYROLL TAX

RETURNS ARE

DUE!!

2 3 4 5

6 7 8 9 10 11 12

13 14 15 16 17 18 19

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Happy Friday

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27 28

Memorial Day!!

Office is Closed

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30 31

SBG CONSULTING &

BOOKKEEPING MATTERS

7930 W Sahara Ave.

Las Vegas, NV 89117

702-320-9200

Page 7

June 2018

SUN MON TUE WED THU FRI SAT

1 2

3 4 5 6 Smiling

Wednesday

7 8 9

10 11 12 13 14 15

Voucher 2

payment due

2017 1040-ES

16

17 18 19 20 21 22

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24 25 26 27 28 29 30

Happy

Birthday,

Sara!

Summer is flying by! If you have not already provided us with your documents, the drop off dates are: Businesses: July 31st Individuals: August 31st

Avoid Rush Fees! Don’t delay!