Tax Changes: Start Up Expenses

Thinking about starting a new business?  Changes in the tax law allow you to write off more of the start up expenses. Boosted deduction for start-up expenditures. The Small Business Jobs Act allows taxpayers to deduct up to $10,000 in trade or business start-up expenditures for 2010. The amount that a business...

Tax Changes: Extension of 50% Bonus First Year Depreciation

The “Small Business Jobs Act of 2010”  includes a number of important tax provisions for business. If you are planning on making capital expenditures, be sure to talk to your accountant about the following: Extension of 50% bonus first-year depreciation. Before the Small Business Jobs Act, Congress already allowed businesses...

Tax Changes Regarding : Enhanced small business expensing

On September 27, President Obama signed into law the “Small Business Jobs Act of 2010” (P.L. 111-240) which includes a number of important tax provisions for business. As we talk to our small business clients about their tax planning, we are helping them take advantage of these changes. The first...

Why do I need a compiled financial statement?

Complied financial statements are a powerful tool for effective tax planning. Provided on a quarterly basis, these account recordings allow us to provide 1) precise income tax liability calculations, 2) accurate long-term tax planning, and 3) priority handling of your tax return. By placing your quarterly financial picture into our professional format, you will eliminate mad scrambles for end-of-year accounting information, and reduce the need to file an income tax extension. Also, compiling your financials after end-of-year does not allow us to influence your tax picture to ensure that you minimize your liabilities and eliminate surprises.