Here at Bowen & Bowen, we know you want a firm that takes enough time to provide the quality work and personal service you deserve, with CPA's and accountants who prioritize your needs. Since 1950, we have developed support for our clients - from electronic filing of tax returns, in-house payroll, tax & business advice. We hope you'll take some time to browse through our site.
You'll find a lot of useful information here: contact information, financial calculators, specially-selected newsletter articles and much more. Give us a call at (201) 487-3937 (which will be answered by a member of our firm, no additional numbers to input) or drop us an email for more information about our firm and the services we offer, or to make suggestions for what you'd like to see on our website.
We look forward to talking with you soon! Bowen & Bowen is one of the leading firms in and throughout Hackensack, NJ. 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.
You'll find a lot of useful information here: contact information, financial calculators, specially-selected newsletter articles and much more. Give us a call at (201) 487-3937 (which will be answered by a member of our firm, no additional numbers to input) or drop us an email for more information about our firm and the services we offer, or to make suggestions for what you'd like to see on our website.
We look forward to talking with you soon! Bowen & Bowen is one of the leading firms in and throughout Hackensack, NJ. 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.
Services
For more than 50 years, Bowen & Bowen has served as a trusted business partner to clients throughout the metropolitan area.
We have been providing accounting services to individuals and businesses.
We have expanded our in-house payroll service which has given comfort to our clients in knowing their accountant controls this important aspect of their business.
We service doctors, professionals, small to medium businesses, prepare estate returns, individual tax returns, and estate plans.
Your success is important to us, and all of us at Bowen & Bowen look forward to working together with you.
We have been providing accounting services to individuals and businesses.
We have expanded our in-house payroll service which has given comfort to our clients in knowing their accountant controls this important aspect of their business.
We service doctors, professionals, small to medium businesses, prepare estate returns, individual tax returns, and estate plans.
Your success is important to us, and all of us at Bowen & Bowen look forward to working together with you.
Bowen & Bowen provides a wide range of services to individuals and businesses in a variety of industries.
At Bowen & Bowen, 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.
From start-ups to established enterprises, businesses rely on accurate and insightful financial information in order to maintain profitability and capitalize on new opportunities.
Bowen & Bowen's accounting services steer you closer to these goals with accurate record-keeping and reporting as well as support on financial issues such as initial accounting system setup, cost-containment, tax planning, investments, and employee benefit and profit-sharing plans.
At Bowen & Bowen, 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.
From start-ups to established enterprises, businesses rely on accurate and insightful financial information in order to maintain profitability and capitalize on new opportunities.
Bowen & Bowen's accounting services steer you closer to these goals with accurate record-keeping and reporting as well as support on financial issues such as initial accounting system setup, cost-containment, tax planning, investments, and employee benefit and profit-sharing plans.
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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