Francis E. Higgins, CPA is located in Park City's Prospector Square District and has been providing public accounting services for over 30 years. Francis "Chip" Higgins began his career at Deloitte, a "Big Four" international CPA firm, prior to opening his first CPA office in Newport Beach, California, followed by a second office in Park City, Utah in 1993.
Chip, as the founder and Partner, has instilled a culture in the firm that stresses client service and unwavering integrity. He is committed to keeping current with developments in the critical area of taxation. Accordingly, in addition to all professional staff completing continuing education courses of at least eighty hours every two years as required by the American Institute of Certified Public Accountants, many additional hours of specialized, complex tax instruction are completed throughout the year.
At Francis E. Higgins, CPA, we strive to utilize the most innovative technology in our profession that we deem effective for providing quality service to our clients, while continuing to maintaining a personal touch.
Chip, as the founder and Partner, has instilled a culture in the firm that stresses client service and unwavering integrity. He is committed to keeping current with developments in the critical area of taxation. Accordingly, in addition to all professional staff completing continuing education courses of at least eighty hours every two years as required by the American Institute of Certified Public Accountants, many additional hours of specialized, complex tax instruction are completed throughout the year.
At Francis E. Higgins, CPA, we strive to utilize the most innovative technology in our profession that we deem effective for providing quality service to our clients, while continuing to maintaining a personal touch.
Services
Our tax clients range from the exceptionally entrepreneurial and sophisticated high-net-worth individuals and businesses, to savvy retired executives and teachers.
Our tax professionals have varied expertise allowing us to provide services that effectively meet individual client needs.
Within the services we provide, we strive to exceed expectations and take a personal approach, which translates into satisfied clients.
We serve as trusted advisors and are adept at coordinating with the activities of other advisors, ensuring that we all work toward our clients' common goals.
Our tax professionals have varied expertise allowing us to provide services that effectively meet individual client needs.
Within the services we provide, we strive to exceed expectations and take a personal approach, which translates into satisfied clients.
We serve as trusted advisors and are adept at coordinating with the activities of other advisors, ensuring that we all work toward our clients' common goals.
Francis E. Higgins, CPA, P.C. is a professional accounting firm serving clients throughout the Park City 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 Francis E. Higgins, CPA, P.C., 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 Francis E. Higgins, CPA, P.C., 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.
Employers need to report income tax withholding and FICA taxes for third quarter 2021 (Form 941) and pay any tax due.
Employers need to report income tax withholding and FICA taxes for third quarter 2021 (Form 941), if you deposited on time and in full all of the associated taxes due.
Exempt organizations must file a 2020 calendar-year information return (Form 990, Form 990-EZ or Form 990-PF) and pay any tax, interest and penalties due, if a six-month extension was previously filed.
Employers need to report income tax withholding and FICA taxes for third quarter 2021 (Form 941) and pay any tax due.
Employers need to report income tax withholding and FICA taxes for third quarter 2021 (Form 941), if you deposited on time and in full all of the associated taxes due.
Exempt organizations must file a 2020 calendar-year information return (Form 990, Form 990-EZ or Form 990-PF) and pay any tax, interest and penalties due, if a six-month extension was previously filed.
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