For many years, Mark S. Topol & Company has served as a trusted business partner to clients throughout the area. Established in 1987 by Mark Topol, we've been providing services to individuals and to businesses of all sizes. Over the years, we've grown to a firm consisting of 5 accounting professionals and support staff, all ready to serve you and help you fulfill your plans, goals and dreams.
Your success is our success, and all of us here at Mark S. Topol & Company look forward to working with you to achieve the bright financial future you deserve! We have a strong commitment to our clients, and feel a vested interest in their success. We are known for our responsiveness, friendliness and knowledge. Our strength is our people, whose skill, knowledge and integrity keep us in the forefront of our industry.
We are committed to supporting each member of our firm and our clients in an atmosphere of respect and trust. We value community and the opportunity to improve individual lives. Our mission is to help clients maintain financial viability in the present, while taking a proactive approach to achieve future goals.
Your success is our success, and all of us here at Mark S. Topol & Company look forward to working with you to achieve the bright financial future you deserve! We have a strong commitment to our clients, and feel a vested interest in their success. We are known for our responsiveness, friendliness and knowledge. Our strength is our people, whose skill, knowledge and integrity keep us in the forefront of our industry.
We are committed to supporting each member of our firm and our clients in an atmosphere of respect and trust. We value community and the opportunity to improve individual lives. Our mission is to help clients maintain financial viability in the present, while taking a proactive approach to achieve future goals.
Services
Mark S. Topol & Co., P.A., CPA's is a full-service accounting firm serving clients throughout the area, dedicated to providing our clients with professional, personalized services and guidance in a wide range of financial and business needs.
On this website, you will find information about Mark S. Topol & Co., P.A., CPA's, including our list of services.
We have also provided you with online resources to assist in the tax process and financial decision-making.
These tools include downloadable tax forms and publications, financial calculators, news and links to other useful sites.
On this website, you will find information about Mark S. Topol & Co., P.A., CPA's, including our list of services.
We have also provided you with online resources to assist in the tax process and financial decision-making.
These tools include downloadable tax forms and publications, financial calculators, news and links to other useful sites.
Have you just started a new business?
Did you know expenses incurred before a business begins operations are not allowed as current deductions?
Generally, these start up costs must be amortized over a period of 180 months beginning in the month in which the business begins.
However, based on the current tax provisions, you may elect to deduct up to $5,000 of business start-up and $5,000 of organizational costs paid or incurred.
The $5,000 deduction is reduced by any start-up or organizational costs which exceed $50,000.
Did you know expenses incurred before a business begins operations are not allowed as current deductions?
Generally, these start up costs must be amortized over a period of 180 months beginning in the month in which the business begins.
However, based on the current tax provisions, you may elect to deduct up to $5,000 of business start-up and $5,000 of organizational costs paid or incurred.
The $5,000 deduction is reduced by any start-up or organizational costs which exceed $50,000.
Following are some generally recognized financial planning tools that may help you reduce your tax bill.
Charitable Giving - Instead of selling your appreciated long-term securities, donate the stock instead and avoid paying tax on the unrealized gain while still getting a charitable tax deduction for the full fair market value.
Health Savings Accounts (HSAs) - If you have a high deductible medical plan you can open an HSA and make tax deductible contributions to your account to pay for medical expenses.
Charitable Giving - Instead of selling your appreciated long-term securities, donate the stock instead and avoid paying tax on the unrealized gain while still getting a charitable tax deduction for the full fair market value.
Health Savings Accounts (HSAs) - If you have a high deductible medical plan you can open an HSA and make tax deductible contributions to your account to pay for medical expenses.
It's possible there could be additional extensions, so check with your tax advisor for the latest information.
Individuals must pay the third installment of 2021 estimated taxes, if not paying income tax through withholding (Form 1040-ES).
Calendar-year corporations need to pay the third installment of 2021 estimated income taxes.
Calendar-year S corporations must file a 2020 income tax return (Form 1120S) and pay any tax, interest and penalties due, if an automatic six-month extension was filed.
Individuals must pay the third installment of 2021 estimated taxes, if not paying income tax through withholding (Form 1040-ES).
Calendar-year corporations need to pay the third installment of 2021 estimated income taxes.
Calendar-year S corporations must file a 2020 income tax return (Form 1120S) and pay any tax, interest and penalties due, if an automatic six-month extension was filed.
These calculators have been provided as a resource for you to help plan your financial matters.
Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice, or supplement the advice of a professional advisor.
There is not and can not be a guarantee of their applicability or accuracy in regards to your individual circumstances.
All examples are hypothetical and are for illustrative purposes.
You are encouraged to seek personalized advice from qualified professionals regarding all personal finance issues.
Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice, or supplement the advice of a professional advisor.
There is not and can not be a guarantee of their applicability or accuracy in regards to your individual circumstances.
All examples are hypothetical and are for illustrative purposes.
You are encouraged to seek personalized advice from qualified professionals regarding all personal finance issues.
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