On this website, you will find information about WB CPA GROUP, 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. Whether you are an individual or business in or around Traverse City, WB CPA GROUP, P.C. has years of valuable experience assisting professionals with their accounting needs.
WB CPA GROUP, P.C. provides a wide range of services to individuals and businesses in a variety of industries. Our firm strives to meet each client's specific needs in planning for the future and achieving their goals in an ever-changing financial and regulatory environment. By combining our experience and expertise with commitment to client service, WB CPA GROUP, P.C. assures that every client receives the close analysis and attention they deserve.
Our calculators have been provided as a resource for you to help plan your financial matters.
WB CPA GROUP, P.C. provides a wide range of services to individuals and businesses in a variety of industries. Our firm strives to meet each client's specific needs in planning for the future and achieving their goals in an ever-changing financial and regulatory environment. By combining our experience and expertise with commitment to client service, WB CPA GROUP, P.C. assures that every client receives the close analysis and attention they deserve.
Our calculators have been provided as a resource for you to help plan your financial matters.
Services
The three CPA's in our office have a combined total of over 112 years of experience in public accounting.
With our firm, you will work directly with a CPA that is a shareholder of the firm and has at least 33 years of experience.
We've learned a lot since we began in this business, and our dedicated, responsive staff is ready to apply that knowledge to help you prosper.
Our firm is licensed by the State of Michigan Board Of Accountancy.
We are a member of the Private Companies Practice Section of the American Institute of Certified Public Accountants.
With our firm, you will work directly with a CPA that is a shareholder of the firm and has at least 33 years of experience.
We've learned a lot since we began in this business, and our dedicated, responsive staff is ready to apply that knowledge to help you prosper.
Our firm is licensed by the State of Michigan Board Of Accountancy.
We are a member of the Private Companies Practice Section of the American Institute of Certified Public Accountants.
WB CPA GROUP, P.C. provides a wide range of services to individuals and businesses in a variety of industries.
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 WB CPA GROUP, P.C., 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 expertise, experience, analysis and thorough research allow us to optimize financial opportunities to be found in existing as well as recently altered tax laws.
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 WB CPA GROUP, P.C., 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 expertise, experience, analysis and thorough research allow us to optimize financial opportunities to be found in existing as well as recently altered tax laws.
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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