Frierson, Sol, Simonton & Kutac, PLLC is a full-service accounting firm based in Houston, Texas, dedicated to providing our clients with professional, personalized services and guidance in a wide range of financial and business needs. NTA Blog: Lifecycle of a Tax Return: Correspondence Audits: Increased Communication Alternatives Are in Progress. NTA Blog: Lifecycle of a Tax Return: Correspondence Audits: Increased Communication Alternatives Are in Progress In my 2020 Annual Report to.
The post NTA Blog: Lifecycle of a Tax R. TAS Tax Tip: Additional help is now available for visually impaired and other taxpayers with disabilities. The Internal Revenue Service (IRS) Policy Statement 1-47, Reasonable Accommodations for People with Disabilities (see IRM 1.2.1.2.12), requires the IRS. The post TAS Tax Tip: Additional he. Earlier this year, the IRS issued Notice 2021-31, Premium Assistance for COBRA Benefits, outlining the temporary premium assistance included in.
The post TAS Tax Tip: Answers to your quest.
The post NTA Blog: Lifecycle of a Tax R. TAS Tax Tip: Additional help is now available for visually impaired and other taxpayers with disabilities. The Internal Revenue Service (IRS) Policy Statement 1-47, Reasonable Accommodations for People with Disabilities (see IRM 1.2.1.2.12), requires the IRS. The post TAS Tax Tip: Additional he. Earlier this year, the IRS issued Notice 2021-31, Premium Assistance for COBRA Benefits, outlining the temporary premium assistance included in.
The post TAS Tax Tip: Answers to your quest.
Services
For years, Frierson, Sol, Simonton & Kutac, PLLC has been providing quality, personalized financial guidance to local individuals and businesses.
Frierson, Sol, Simonton & Kutac, PLLC's expertise ranges from basic tax management and accounting services to more in-depth services such as audits, financial statements, and financial planning.
Frierson, Sol, Simonton & Kutac, PLLC is one of the leading firms in and throughout Houston.
By combining our expertise, experience and the team mentality of our staff, we assure that every client receives the close analysis and attention they deserve.
Frierson, Sol, Simonton & Kutac, PLLC's expertise ranges from basic tax management and accounting services to more in-depth services such as audits, financial statements, and financial planning.
Frierson, Sol, Simonton & Kutac, PLLC is one of the leading firms in and throughout Houston.
By combining our expertise, experience and the team mentality of our staff, we assure that every client receives the close analysis and attention they deserve.
We guide our clients through a full range of tax planning and preparation decisions with strategies that minimize your tax liabilities, maximize your cash flow and keep you on track to your financial goals.
Our thorough research allows us to optimize financial opportunities to be found in existing as well as recently enacted tax laws.
Our accounting services focus on your goals with accurate record-keeping and reporting as well as support on financial issues such as initial accounting system setup and cost-containment.
Our thorough research allows us to optimize financial opportunities to be found in existing as well as recently enacted tax laws.
Our accounting services focus on your goals with accurate record-keeping and reporting as well as support on financial issues such as initial accounting system setup and cost-containment.
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.
Reviews
Be the first to review Frierson, Sola, Simonton & Kutac.
Write a Review
