Services
If you're looking for excellent service and a people-friendly approach, then you've come to the right place. At Don Brooks & Associates Inc, our ultimate goal is to serve you and make your experience a pleasant one, and our team will stop at nothing to ensure that you come away more than satisfied.
Financial Statements
Monthly, quarterly and year-end Balance Sheets and Profit & Loss Statements are prepared accurately and timely for a broad range of small business clients.
Payroll Services
Life Insurance & Annuities
We offer several types of Life Insurance products and Annuities.
Individual Tax Returns
Tax returns and filing instructions have been prepared for 1000's of individual clients each year.
Business Tax Returns
A variety of small business tax returns are prepared each year.
Tax Planning
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Tax Tips Small Business
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Employee Meals: When Does the 50-Percent Limit Apply?
Don't reduce your deduction if you aren't required to
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In most cases, an employer is only allowed to deduct one-half of the expense that is paid to employees for meals. However, in some instances, the full amount is allowed.
Small Business Quick Tip
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Self Employed Health Insurance
If you are a self-employed taxpayer, you may deduct 100 percent of your health insurance premiums from your income. The deduction for health insurance premiums does not reduce your self-employment tax, however.
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Tax Tips Personal
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Take Advantage of Tax Savings in a Down Market
Know when you have a deductible loss
Just because the stock market lost money, doesn't mean you have a deductible loss. As long as you hold on to an investment, you only have a loss on paper. It's only when you actually sell the investment that you have a transaction to report on your tax return.
Fortunately, the tax law allows you to offset your capital gains by your capital losses. You can avoid or minimize taxable gain by selling two investments, one at a gain and the other at a loss.
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Personal Quick Tip
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Summer Day Camp
Along with the lazy, hazy days of summer come some extra expenses, including summer day camp. But, the IRS has some good news for parents: those added expenses may help you qualify for a tax credit.
Many parents who work or are looking for work must arrange for care of their children under 13 years of age during the school vacation. The Child and Dependent Care Credit is available for expenses incurred during the summer and throughout the rest of the year.