Monthly, quarterly and year-end Balance Sheets and Profit & Loss Statements are prepared accurately and timely for a broad range of small business clients.

Financial Statement preparation for small business clients is a long-standing service of this firm. Depending on the client's needs, monthly, quarterly and year-end balance sheets and detailed profit & loss statements can be prepared and analyzed on a timely basis. These statements, along with our helpful, knowledgeable staff, can provide helpful comparisons and calculations for effective, practical business analysis.

Tax Tips Small Business

  • Electing to Expense the Cost of Your Business Assets

    Section 179 deduction limits increase

    The IRS allows taxpayers the option of either depreciating some assets over a specified number of years or deducting all or a portion of the cost in one year. The expense election, commonly referred to as the Section 179 deduction, is made in the year the asset is placed in service. The benefit is a large deduction in the current year that is not reduced even if the asset is placed in service late in the tax year.

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Small Business Quick Tip

  • Business Mileage Rate 2

    The optional standard mileage rate for the business use of an automobile is 54 cents per mile in 2016.
Monday, 18th March 2019
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Tax Tips Personal

  • IRAs and Charitable Contributions

    New option for charitable giving

    If you are age 70 1/2 or older, there is another option for you to consider when making charitable contributions. Beginning after December 31, 2005, you may be allowed to make a charitable contribution of up to $100,000 of distributions from your IRA. Although there is no charitable contribution deduction allowed,

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Personal Quick Tip

  • HSA Contributions

    Contributions to a health savings account (HSA) must be made by the due date of your tax return excluding extensions.