We are a Certified Public Accounting Firm emphasizing high quality tax planning and return preparation, business and individual advisory services and guidance in a range of financial and business needs for our clients in and around Boulder Colorado. On this Website we are pleased to provide you with information about our Firm, including a detailed list of the services we offer.
To assist you with tax and financial decisions, we have included numerous online resources, including downloadable tax forms and IRS publications, tools we hope you will find useful with a number of financial calculations, updated tax and financial news and links to many other useful sites.
To assist you with tax and financial decisions, we have included numerous online resources, including downloadable tax forms and IRS publications, tools we hope you will find useful with a number of financial calculations, updated tax and financial news and links to many other useful sites.
Services
We have chosen to limit our practice to tax preparation and advisory services and business and individual planning and consulting.
Consequently, we do not provide many of the more traditional services expected of a Certified Public Accounting Firm such as bookkeeping services, payroll processing, audited, reviewed or compiled financial statement preparation, investment management or detailed personal financial planning.
However, through our extensive network of firms with which we have long-standing relationships, we are able to coordinate and oversee the delivery of these services to our clients.
Consequently, we do not provide many of the more traditional services expected of a Certified Public Accounting Firm such as bookkeeping services, payroll processing, audited, reviewed or compiled financial statement preparation, investment management or detailed personal financial planning.
However, through our extensive network of firms with which we have long-standing relationships, we are able to coordinate and oversee the delivery of these services to our clients.
Weatherwax & Associates, PC provides a wide range of services to individuals and businesses in a variety of industries and professions.
At Weatherwax & Associates, PC, we strive to meet each client's specific needs in planning and achieving their financial goals in an ever-changing tax, financial and regulatory world.
At Weatherwax & Associates, PC, our philosophy is to assist our clients in maximizing their after-tax income.
This can be accomplished by minimizing their tax liability; but a better way is by assisting our clients in maximizing their total income.
At Weatherwax & Associates, PC, we strive to meet each client's specific needs in planning and achieving their financial goals in an ever-changing tax, financial and regulatory world.
At Weatherwax & Associates, PC, our philosophy is to assist our clients in maximizing their after-tax income.
This can be accomplished by minimizing their tax liability; but a better way is by assisting our clients in maximizing their total income.
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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