About Us
Professional accountants/tax prep and business services specialists with a combined 45 years of experience serving individuals and small businesses. Bonded, insured, certified.
The products and services we offer
Products & Services
Planning, development and placement of small business accounting software, filing systems, budgets, and costing. Creating specialized templates for...
Accounts Payable, Receivable, Bank and Credit Card reconciliations, Cost Analysis, Budget planning, Forecasting, balance sheets and P/L reports.
Tax planning and preparation for individuals and small businesses. Small business tax and deduction system creation (includes templates for on goin...
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Recent Activity
The main reason that a single member LLC would buy a vehicle through their company would be depreciation and company deductions for mileage, insurance, etc. that you might not be able to take as an individual tax filer. One precaution though - don't buy an expensive car hoping to deduct a lot....
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The main reason that a single member LLC would buy a vehicle through their company would be depreciation and company deductions for mileage, insurance, etc. that you might not be able to take as an individual tax filer. One precaution though - don't buy an expensive car hoping to deduct a lot. For 2018, you can only write off up to 10K in depreciation, and up to 8K more in bonus depreciation. But that is the cap. You may also consider writing off the depreciation over a series of years (over the life of the vehicle), giving you a smaller write off initially, but a consistent one each year. Its a decision you and your Tax Specialist should discuss. Hope this sheds some light.
Extensions do not actually need to be paid at the time of filing. However, Brett Sloan is correct in that you must make either estimated tax payments based upon what is owed and/or the projected income and taxes for the next year. Making payment arrangements at the time of filing gives you a...
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Extensions do not actually need to be paid at the time of filing. However, Brett Sloan is correct in that you must make either estimated tax payments based upon what is owed and/or the projected income and taxes for the next year. Making payment arrangements at the time of filing gives you a figure to work with. You may decide upon making arrangements with the IRS that paying up front instead of extending with the late payment penalty worth filing and paying now. For those waiting for forms, file now, save the penalties and fees and file a 1040X to include the late form later.
Hopefully, the extension isn't due to procrastination. Taxes aren't fun to file, but are a necessity to keep straight with your Federal and State obligations. Generally, I suggest that you don't default to extension automatically, because it can cost you.
CONS: Couple of reasons you should avoid...
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Hopefully, the extension isn't due to procrastination. Taxes aren't fun to file, but are a necessity to keep straight with your Federal and State obligations. Generally, I suggest that you don't default to extension automatically, because it can cost you.
CONS: Couple of reasons you should avoid filing for an extension:
If you owe taxes, you will accrue interest and fees.
If you have a refund, it takes longer to receive.
Having to file doesn't go away. Eventually it has to be done and it can cost more the longer you wait if you owe.
PROS: A few reasons that it may be worth it to extend:
Pressure relief: Giving yourself extra time to get documents you need together to file could be worth the wait.
Fewer errors are found in returns that are extended (this may be due to taking that extra step to double check every line item filed)
If you've waited for all documents and you're missing a document that needs to be filed, instead of filing, you won't have to complete a 1040X to add the income or expense of that last form.
Hope this was helpful!
It depends on your status, and how you track your expenses and income. If you have an accounting system, create a year end statement for your business and get all the forms from 2017 together(W-2's, W-9's, 1099 forms, anything that was sent to you during the prior year that is tax related.) If...
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It depends on your status, and how you track your expenses and income. If you have an accounting system, create a year end statement for your business and get all the forms from 2017 together(W-2's, W-9's, 1099 forms, anything that was sent to you during the prior year that is tax related.) If you don't have an accounting program, gather all your bank statements from Jan. 1st through Dec. 31st for 2017 along with your tax forms. Make an appointment with a tax professional and they will produce your taxes. There will be penalties for filing this late, but payment can be negotiated with the IRS and state agencies.
If you need media marketing and assistance for your customer base, I recommend Socialista Marketing and Strategies as well - they are here on Alignable to meet. Excellent resource, engaged and professional.
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If you need media marketing and assistance for your customer base, I recommend Socialista Marketing and Strategies as well - they are here on Alignable to meet. Excellent resource, engaged and professional.
Advertise getting a jump on credentials early, avoid the hassle of last minute filing. Use tax professional forums online, lots around to choose from, and FB, Twitter Tax and EA groups.
(more)
Advertise getting a jump on credentials early, avoid the hassle of last minute filing. Use tax professional forums online, lots around to choose from, and FB, Twitter Tax and EA groups.
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