McCullough & Associates Blog

Jan 16, 2017

Terry McCullough Earns Accredited Investment Fiduciary (AIF®) Designation

Congratulations to Terry McCullough on earning his Accredited Investment Fiduciary (AIF®) designation from the Center for Fiduciary Studies™, the standards-setting body for fi360. The AIF® designation signifies specialized knowledge of fiduciary responsibility and the ability to implement policies and procedures that meet a defined standard of care. The designation is the culmination of a…

Jan 10, 2017

Missouri Minimum Wage Increase for 2017

Missouri's minimum wage increased to $7.70 per hour, effective January 1, 2017.  All businesses are required to pay at minimum, the $7.70 per hour rate, except retail and service businesses whose annual gross sales are less than $500,000.  In addition, overtime compensation must also be paid at a rate not less than one and one-half times a covered employee's regular rate for all hours works…

Dec 28, 2016

New Filing Deadline for W-2s and 1099-MISC

New regulations now require the e-filing of all 2016 W-2s and 1099-MISC on or before January 31, 2017.

Therefore, it is important that we receive your year-end earnings information early in order to e-file these forms in a timely manner and help you to avoid possible penalties.…

Nov 29, 2016


After Black Friday, Small Business Saturday, and Cyber Monday comes a day know as #GivingTuesday. Established five years ago as a global day a giving fueled by the power of social media and collaboration, it kicks off the charitable season, when many people are focusing on their holiday…

Aug 09, 2016

Terry McCullough Recognized as a Member of Executive Council for 2016 at Cetera® Financial Specialists’ Connect Conference

Terry McCulloughTerry L. McCullough, CPA, Financial Advisor and Managing Partner of McCullough and Associates, LLC, was recently recognized among conference attendees as a member of Cetera Financial Specialists’ Executive Council for 2016. The Executive Council solidifies McCullough…

Jan 28, 2016

IRS Provides Tax Relief to Missouri Storm Victims

Due to the flooding that occurred the last week of December 2015, the Internal Revenue Service recently announced that Missouri storm victims will have until May 16, 2016 to file their tax returns and pay any taxes due. All workers assisting the relief activities who are affiliated with a recognized government or philanthropic organization also qualify for relief.


Jan 05, 2016

2016 Standard Mileage Rates

The Internal Revenue Service has issued the 2016 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.

Beginning on January 1, 2016, the standard mileage rates for the use of a car, van, pickup or panel truck will be:

  • 54 cents per mile for business miles driven, down from 57.5…

Sep 02, 2015

Delinquent Missouri Taxpayers Granted Amnesty

Amnesty | am-nes-ty /ˈam-nə-stē/ : a decision that a group of people will not be punished

This week began a 3 month tax amnesty program in the State of Missouri as authorized by House Bill 384 and signed into law by Governor Jay Nixon.  From September 1, 2015 through November 30, 2015 Missouri taxpayers with qualifying delinquencies can pay the amount of taxes…

Sep 01, 2015

Review Your Taxes Now to Prevent a Surprise Next Spring

Each year, many people get a larger refund than they expected. Some find they owe a lot more tax than they thought they would. If this happened to you, review your situation to prevent another tax surprise. Did you marry? Have a child? Have a change in income? Some life events can have a major effect on your taxes. You can bring the tax you pay closer to the amount you owe. Here are some key tips…

Aug 25, 2015

Tax Tips for Starting a Business

When you start a business, a key to your success is to know your tax obligations. You may not only need to know about income tax rules, but also about payroll tax rules. It is always a good idea to meet with your accountant prior to starting a business to make sure your business is off to a good start.  Here are some topics that we can discuss with you:

1. Business…