On this website, you will find information about Jim Kelly, 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. Let us focus on your accounting, tax and litigation support services so you can focus on your business.
Services
Jim Kelly operates his own CPA Practice in Tustin California serving the needs of individuals and private business owners, with special emphasis on supporting clients and their families going through a significant change in circumstances.
This may include the birth of a child, illness or death of a family member, divorce, selling a business or property, or retirement.
Services provided range from maintaining personal and business financial records to tax planning and tax return preparation.
Our expertise ranges from basic tax management and accounting services to more in-depth services such as financial planning, business valuation, and litigation support.
This may include the birth of a child, illness or death of a family member, divorce, selling a business or property, or retirement.
Services provided range from maintaining personal and business financial records to tax planning and tax return preparation.
Our expertise ranges from basic tax management and accounting services to more in-depth services such as financial planning, business valuation, and litigation support.
We can assist you with a broad range of Tax, Accounting, and Litigation Support services to assist you in managing your personal and business financial affairs.
Our objective is to help you streamline the process as you deal with day to day financial issues, as well as guide you through the broader challenge of planning your financial future, including your children's education, your retirement, and tax and estate planning.
These can be complex issues to deal with.
Often one's business and personal financial affairs are intertwined adding to this complexity.
Our objective is to help you streamline the process as you deal with day to day financial issues, as well as guide you through the broader challenge of planning your financial future, including your children's education, your retirement, and tax and estate planning.
These can be complex issues to deal with.
Often one's business and personal financial affairs are intertwined adding to this complexity.
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.
Although the process is complex and frustrating, raising capital is the most basic of all business activities.
When looking for financing, there are various sources to consider.
For most new businesses, the main source of capital comes from savings and other forms of personal resources.
There are better options available than credit cards that are often used for financing, even a small business loan.
When beginning, entrepreneurs usually look to private sources like friends and family.
Generally, the money is loaned at a low interest rate or interest free, which is very beneficial at the beginning.
When looking for financing, there are various sources to consider.
For most new businesses, the main source of capital comes from savings and other forms of personal resources.
There are better options available than credit cards that are often used for financing, even a small business loan.
When beginning, entrepreneurs usually look to private sources like friends and family.
Generally, the money is loaned at a low interest rate or interest free, which is very beneficial at the beginning.
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