Welcome to our website! Mosford, Barthel & Co., PLC. is a local accounting firm with offices located in Monticello and Elk River, MN. The firm was founded in 1976 by Bob Mosford, CPA/PFS, and has continued to grow along with Monticello, Elk River, and the surrounding communities.
Services
Our services encompass nearly every aspect of financial life. We are
experienced in all matters of accounting and taxation, IRS problem resolution, estates and trusts, business formation,
financial planning and investment, real estate and business sales.
What's New?
2010 Tax Planning Guide is here!
Click on the icon below to view the 2010 Tax Planning Guide
Haiti Relief Donations Qualify for Immediate Tax Relief
People who give to charities providing earthquake relief in Haiti can claim these donations on the tax return they are completing this season, according to the Internal Revenue Service.
Taxpayers who itemize deductions on their 2009 return qualify for this special tax relief provision, enacted Jan. 22. Only cash contributions made to these charities after Jan. 11, 2010 and before March 1, 2010, are eligible. This includes contributions made by text message, check, credit card or debit card.
2010 Mileage Rates
Changes in the mileage rates have been announced for 2010. Beginning January 1, 2010, the standard mileage rates will be:
50 cents per mile for business miles driven (was 55 cents per mile in 2009)
16.5 cents per mile for medical or moving (was 24 cents per mile in 2009)
14 cents per mile for in service of charitable organization (same as in 2009)
Sales and use tax rate increase
Beginning July 1, 2009, the Minnesota general sales and use tax rate will increase from 6.5% to 6.875%. Wondering how to implement this change? Give us a call and we can assist you!
American Recovery and Reinvestment Act of 2009
On February 17, President Obama signed the American Recovery and Reinvestment Act of 2009. For more information on how this is going to effect you, click on the tax legislation link below.
New I-9 form must be used beginning February 2
The new version of the form must be used by employers for all new hired and reverifications beginning February 2, 2009. The biggest difference between the Feb. 2, 2009 version of Form I-9 and the previous version is that all documents presented during the verification must be unexpired. The new I-9 form can be accessed at http://www.uscis.gov/i-9.
Required Minimum Distribution (RMD) can be waived during 2009
On December 23, 2008 the President signed into law the Worker, Retiree and Employer Recovery Act of 2008 (HR 7327). The law provides relief to individual retirement accounts (IRAs), 403(b)s, qualified plans and retirement plan beneficiaries by waiving without penalty the RMD requirements for 2009. The law does not apply to participants who were due to take an RMD in 2008 and choseto defer it to 2009. You are not required to suspend your 2009 RMD.
AMT Exemptions
Congress has passed legislation that will increase the3 AMT exemptions for 2008. The exemption amounts will be $69,950 for taxpayers who are married filing jointly, and $46,200 for single taxpayers.
Free Reports and Newsletters
Reduce your taxes... Make better business decisions... and learn how to grow your
wealth by reading our Free Reports on financial strategies for business owners, individuals, and
investors. You also get the latest breaking tax saving strategies in our monthly newsletter.
Tools and Resources
Balance your checkbook, save for college educations, check the current tax rates,
tax due dates, when you'll get your tax refund, incorporate your business, get the latest version of QuickBooks,
securely send us your accounting files, pickup a previous years tax returns, or simply pay our fees online.
Mosford, Barthel & Co., PLC.
305 Cedar Street, Suite 201
Monticello, MN 55362 Tel: (763)295-4800 Fax: (763) 295-4804 amoll@mbcocpa.com
