Click here for some useful tax tips and information.

  Only death and taxes are inevitable. As accountants, it is our function to deal with that second inevitability, taxes.

  Individual Taxes – Proper tax management involves more than seeing you once a year to prepare your tax returns. We strive also to take our involvement to a higher level by helping you prepare for the future.

  We can advise you on planning for your current tax situation (a process that should encompass at least two consecutive years). We can help you with planning for events such as retirement, education, managing finances during a recessive economy and the changing tax laws, to name a few.

  We can work closely with your investment advisors to coordinate your financial plans with your tax situation. Although we concentrate our efforts on tax and business management, we have working relationships with several firms who provide expert estate and trust management services.

  In short, we offer you a full range of accounting, tax and business advisory services in a professional atmosphere that treats each client as an individual entity with specific and unique needs, problems and goals. We strive in every way to be your personal professional.

  Business Taxes – Business taxes are complicated and require the services of an accounting firm that has consciously chosen to concentrate its services on providing an array of business tax services.

  Among the most important of these services is planning, which begins with a thorough understanding of the business client’s objectives and goals. From this basis, we determine the most advantageous business entity for our clients, assist in establishing proper accounting functions, and formulate and assist in monitoring a course designed to maximize profits while minimizing taxes. We can help you develop business opportunities, plan for business growth, and stay alive during harder times.  Then finally, we prepare the tax returns.

  This philosophy and process allows us to assist corporations, partnerships, LLCs and sole proprietors from one-man operations to large corporations with over 100 employees in all aspects of business taxes and planning.

  Payroll Taxes – The mere fact of having employees opens the door to confusing tax requirements – and the most imposing penalties.

  To make the process as painless as possible, we prepare the initial payroll tax registration forms and the quarterly and annual tax returns, assist in properly calculating payroll, and plan and account for employee benefits. Where employers do not wish to deal with payroll in any way, we even process the paychecks

  We make payroll simple and non-disruptive to our clients who desire any or all of these services.

Tax Tips and Facts

The following statistics were reported for 2007, according to The Kiplinger Tax Letter::

-The top 1% of tax filers, paid 40.4% of total federal income taxes, up from 39.9% in 2006.  But they made just 22.8% of total reported adjusted gross income (AGI).

-The top 5% of taxpayers with adjusted gross incomes of at least $160,000, paid 60.6% of total income tax, while having 37.4% of AGI.

-The top 10% of all filers, those with AGIs of at least $113,000, bore 71.2% of the income tax burden while making slightly more than 48% of all adjusted gross income.

-The bottom 50 percent of filers still paid just 2.9% of total income tax. 

Deductible Unreimbursed Employee Business Expenses

  Here is a list of possible deductions on your Federal, State and Local income tax returns:
     1)  Certain business meals and entertainment
     2)  Business related travel expenses
     3)  Automobile expenses, either mileage or actual expenses but not both
     4)  Union dues
     5)  Professional subscriptions
     6)  Business gifts up to $25 to any individual per tax year
     7)  Depreciation of certain assets used for business activities
     8)  Uniforms and certain work clothes not adaptable to everyday wear
     9)  Conventions and seminars