Recent Articles

5 Small-Business Finance Mistakes to Avoid in 2016

| January 12, 2016
5 Small-Business Finance Mistakes to Avoid in 2016

By Steve Nicastro Don’t become a small-business statistic. Nearly half of small businesses don’t make it past the first five years, according to the U.S. Small Business Administration. Optimistic owners may underestimate the costs of starting a business, run up too much debt or have bad personal credit that keeps them from getting a business loan. Then it’s [...]

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Year End Income Tax Strategy for 2015

| November 24, 2015
Year End Income Tax Strategy for 2015

Make These Moves by Year-End to Lessen Your Tax Burden By Craig Smalley Each year in December, Congress meets and decides whether to extend certain tax provisions, but only for one year. They make the changes retroactive, and they expire at the end of the year that they are made. This process can make tax [...]

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Welcome to M J Mortensen Associates LTD

| August 25, 2015
Welcome to M J Mortensen Associates LTD

Hello and Welcome. MJ Mortensen Associates is a full service accounting firm located in Fairfax, Virginia  and serving Tysons, Vienna, McLean, Falls Church and the greater D.C. Metro areas.  We have over 40 years of experience in solving small business and individual accounting and tax problems. We are known for providing high quality work and excellent [...]

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Credit Card Processing Deadline Looms for Small Businesses

| August 4, 2015
Credit Card Processing Deadline Looms for Small Businesses

Swiping a credit card—and potentially its information—will soon become more difficult. Come October  2015, there will be a shift in which party will be held liable for credit card fraud. After that date, merchants who have not upgraded their systems to so-called “chip and signature” technology will be on the hook for any credit or [...]

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3 Biggest Small Business Challenges for the rest of 2015

| June 23, 2015
3 Biggest Small Business Challenges for the rest of 2015

Overall, only 57 percent of businesses expect revenue growth for 2015. Many challenges facing businesses over the years remain fundamentally the same. Recently, Wasp Barcode Technologies conducted a small-business survey with 1,000 participants, ranging from small-business owners, C-level executives, and senior management from most business segments, including government. The survey gives insight into small-businesses perceptions [...]

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Italian Store Opens Second Store in Westover

| June 23, 2015
Italian Store Opens Second Store in Westover

A cult favorite in Arlington readies 2nd location. Mamma mia!  One of our best friends and a client since 1980, Italian Store opened a second store in June 2015. The following article is from Rebecca Cooper, WBJ With its second location in Arlington, The Italian Store isn’t making the transition to “restaurant” just yet, but [...]

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How Affordable Care Act Rules Affect Your Taxes

| January 16, 2015
How Affordable Care Act Rules Affect Your Taxes

If you are one of the millions of people who bought health care through a health insurance exchange, filing your tax return may require more effort this year: This is the first time taxpayers will have to report their health care status on their tax returns. The vast majority of taxpayers will simply have to [...]

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ObamaCare for Small Businesses: What You NEED to Know for 2015

| December 2, 2014
ObamaCare for Small Businesses: What You NEED to Know for 2015

Prepping for 2015? Here’s How to Navigate the Changes in Health Insurance for Small Businesses In 2014, the health insurance industry in America fundamentally changed, affecting businesses and employees nationwide. From rates to premiums to newly imposed penalties, the shockwaves were felt across the board—and for many small businesses, too much confusion and uncertainty left [...]

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Top 10 Things to Know About the Silver Line

| July 28, 2014
Top 10 Things to Know About the Silver Line

The Silver Line is a new 23-mile Metrorail extension connecting the Tysons, Reston, Herndon, and Dulles Airport areas of Fairfax County to the regional Metrorail system. Phase 1, which opened for business on July 26, includes these stations: McLean Station Tysons          Corner Station Greensboro          Station Spring          Hill Station Wiehle-Reston          East Station Phase 2, which is tentatively scheduled to open in  2018, will extend [...]

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Outwitting The NIIT: 12 Ways To Avoid The New Net Investment Income Tax

| June 26, 2014
Outwitting The NIIT: 12 Ways To Avoid The New Net Investment Income Tax

For some high-income taxpayers writing a check to Uncle Sam was particularly painful this past tax season, and not for the most obvious reason–the 2013 increase in the top income tax rates. Instead these folks were bitten by the new Net Investment Income Tax (NIIT), a maddeningly complicated extra 3.8% levy on certain investment income. [...]

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