Your satisfaction and success are our highest priorities at Leake CPA, PC. Our public accounting firm has been family owned and community focused for over forty years. We provide professional accounting and tax services to clients in the Dallas area from our three convenient locations in Mesquite, Richardson, and McKinney. As a valued client, you will receive personalized services performed in a timely manner with considerate and professional courtesy.
Our projects are carefully completed using the latest technologies in accounting and tax preparation. We are committed to providing our clients with knowledge and guidance in a wide range of financial and business needs. To schedule a free, zero obligation consultation and discover how we can deliver absolute value with the services we provide, please contact us today and be welcomed into our client family.
Our projects are carefully completed using the latest technologies in accounting and tax preparation. We are committed to providing our clients with knowledge and guidance in a wide range of financial and business needs. To schedule a free, zero obligation consultation and discover how we can deliver absolute value with the services we provide, please contact us today and be welcomed into our client family.
Services
Steve built a practice based on solid relationships and the principle of "Do unto others as you would have them do unto you, " also known as "The Golden Rule."
Steve made and maintained strong relationships with his clients based on mutual trust and understanding.
In 2002, Steve discussed the issue of continuance of his firm with his son, Andy, and asked if he would be interested in teaming up to carry on the family business.
Andy began taking business classes at UNT, graduated with a degree in accounting, and began working for Steve in his original firm.
Steve made and maintained strong relationships with his clients based on mutual trust and understanding.
In 2002, Steve discussed the issue of continuance of his firm with his son, Andy, and asked if he would be interested in teaming up to carry on the family business.
Andy began taking business classes at UNT, graduated with a degree in accounting, and began working for Steve in his original firm.
We provide a wide range of services to individuals and businesses in a variety of industries.
From brand new startups still in the brainstorming phase, to established entities that may require fine-tuning of business processes, we strive to meet each client's specific needs in planning for the future and achieving their goals.
We focus on building close client relationships that add long-term value.
This includes assuring the solidity of financial records, evaluating financial procedures and working to produce strategies that help our clients face the myriad challenges of business planning and execution.
From brand new startups still in the brainstorming phase, to established entities that may require fine-tuning of business processes, we strive to meet each client's specific needs in planning for the future and achieving their goals.
We focus on building close client relationships that add long-term value.
This includes assuring the solidity of financial records, evaluating financial procedures and working to produce strategies that help our clients face the myriad challenges of business planning and execution.
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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