Welcome and thank you for visiting the Website of SKIPWORTH & ASSOCIATES LLC. In addition to providing you with a profile of our firm and the services we provide, this Website has been designed to become a helpful resource tool to you, our valued clients and visitors. Our dedication to superior client service has brought us to the Internet as we endeavor to continue to provide the highest quality professional service and guidance.
As you browse through our Website, you will see that we have highlighted background information on our firm and the services we provide. We have also included useful resources such as informative articles (in our Newsletter section) and interactive financial calculators (in our Financial Tools section). In addition, we have taken the time to gather many links to external Websites that we think would be of interest to our clients and visitors (in our Internet Links section).
Please feel free to contact us with any questions or comments you may have - we'd love to hear from you.
As you browse through our Website, you will see that we have highlighted background information on our firm and the services we provide. We have also included useful resources such as informative articles (in our Newsletter section) and interactive financial calculators (in our Financial Tools section). In addition, we have taken the time to gather many links to external Websites that we think would be of interest to our clients and visitors (in our Internet Links section).
Please feel free to contact us with any questions or comments you may have - we'd love to hear from you.
Services
For years, Skipworth & Associates, LLC has been providing quality, personalized financial guidance to local individuals and businesses.
Skipworth & Associates, LLC's expertise ranges from basic tax management and accounting services to more in-depth services such as business valuation, litigation support, forensic accounting, and financial planning.
Skipworth & Associates, LLC is one of the leading firms in and throughout Anchorage.
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.
Skipworth & Associates, LLC's expertise ranges from basic tax management and accounting services to more in-depth services such as business valuation, litigation support, forensic accounting, and financial planning.
Skipworth & Associates, LLC is one of the leading firms in and throughout Anchorage.
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.
Skipworth & Associates, LLC provides a wide range of services to individuals and businesses in a variety of industries.
At Skipworth & Associates, LLC, we strive to meet each client's specific needs in planning for the future and achieving their goals in an ever-changing financial and regulatory environment.
At Skipworth & Associates, LLC, 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.
At Skipworth & Associates, LLC, we strive to meet each client's specific needs in planning for the future and achieving their goals in an ever-changing financial and regulatory environment.
At Skipworth & Associates, LLC, 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.
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.
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