Skip to main content

The CPA Superhero


Jeff Haywood, CPA
The CPA Superhero
jeff.jhtaxes@gmail.com
217-923-8007

Jeff Haywood, CPA, aka The CPA Superhero, based in Central Illinois, serves clients all over the world, providing income tax preparation services, business consulting, and CFO services. 


What makes me the CPA Superhero? 

Most of my clients are very successful, creative, drivers with a need for someone to help them that provides a stable viewpoint and helps them deal with the ever increasing reporting and filing requirements that this world requires. So in a "nutshell" I provide a balancing affect for successful entrepreneurs.

While the main services I provide are preparing various income tax returns, business consulting and CFO Services, the real value I provide manifests itself in the conversations I have with my clients and the relationships that we grow. My more successful clients have frequent communication with me throughout the year. In reality, there is a connection between the frequency of our communication and success. 

So if you want help achieving success and dealing with the stresses that come from conducting business and/or investing in this crazy world today, then contact me, The CPA Superhero.

Background

As you would imagine, The CPA Superhero has an unusual background. I started out in the corporate world as a Financial Analyst helping corporations use their financial statements to manage their business, create goals, and take advantage of opportunities. I worked with company directors in various departments to help them understand their numbers, plan for the future, and develop proposals for investments that would help the corporation succeed. Unlike typical accountants, much of my work involved communicating with the officers of the companies I worked for and making quarterly presentations at a meeting of the corporate officers. 

In 2001 I switched to public accounting, preparing tax returns, but still working with clients to help them understand the numbers, plan for the future, and analyze and develop strategies to take advantage of opportunities that present themselves.

Specialty Niches

While my focus is on business owners and investors, I have a few specialty niches that I have developed and they are Agriculture, Oil and Gas, Software/App Developers/Programmers, Restaurants, and Expats. Both Farming and Oil and Gas have very unique accounting and tax requirements that require a real specialization. The same is true for Expats (U.S. persons residing in a foreign country). My wife and I lived in Mexico for six years and I developed a competency for doing returns for individuals in the same circumstances and now have clients around the world in this area. So, if you are looking to help in one of these niches, contact me today to set up an appointment to discuss your situation.

Contact The CPA Superhero 

Contact The CPA Superhero today to start a relationship that will help you achieve your business and financial goals. Feel free to email me today at jeff.jhtaxes@gmail.com to schedule an appointment to have an introductory phone conversation.



Jeff Haywood, CPA
The CPA Superhero
jeff.jhtaxes@gmail.com
217-923-8007



Popular posts from this blog

Cryptocurrency and U.S. Income Taxes

Cryptocurrency and U.S. Income Taxes The IRS issued guidance on cryptocurrency (virtual currency or digital currency) back in 2014 and this guidance has tax implications that I will address here without getting into any political issues.

My clients that have cryptocurrencies want to know what are the tax implications. To make it complicated, or seem complicated, they acquire and use cryptocurrencies through transactions for goods and services. They also acquire and use them by buying, selling, and trading (trading between different cryptocurrencies).

Tax Consequences The guidance from the IRS is that cryptocurrencies are consider property rather currency for federal tax purposes. The implications are that receipt of cryptocurrencies for exchange of goods and services are consider revenue to the seller and potentially an expense for the buyer if it is for business use. So the recipient must report the value at the time of the transaction in U.S. dollars as revenue in the case of a bus…

Qualfied Business Income Deduction

Some business owners will get a deduction based on business income from for 2018 under the new Tax Cuts and Jobs Act (TCJA). Do you qualify? For Business Owners, I will help you get a general idea about the 20% Qualified Business Income Deduction. Keep in mind several of the words and concepts mentioned have not been clearly defined, so tax experts are seeking clarifications on many of the issues and definitions of various terms used. But here is an outline of what we do know (I think. So far. Sort of.). 😶
Qualified Business Income Deduction It appears the intent with the 20% Qualified Business Income Deduction is to level the playing field for all business types. It seems that other business types were given this deduction due to the reduction in Income Tax Rates given to C Corporations. I will address some of the business types that could benefit from this deduction, including sole proprietors, partnerships, and S Corporations. The deduction is to give the owners, partners, and sh…

The Dreaded IRS Audit...The Reality

Updated May 31, 2018

There is a fear of an IRS audit.  People have heard all kinds of stories and have many ideas about what will cause an audit and how to avoid it.  For example some fear that taking a deduction that they are entitled to will make them the target of an IRS audit.  I have also heard clients say both that filing on time will prevent an audit and also that filing an extension will avoid an audit.  So what is the reality of IRS audits.  

Who gets audited and why
The IRS audits aroud 1% of tax returns they receive.  That sounds like random selection but there are things that increase your chances of selection.  Ordinary taxpayers with ordinary income and deductions if audited are usually just a random and very unlikely selection.  In fact none of my cleints that can be described this way have ever been randomly selected for an audit.  Most audits are triggered by the unusual or areas of suspect by the IRS.  The IRS itself indicates there are randomly selected audits but m…