We are a small, friendly firm that believes in customer service. Our primary goal is to produce technically correct, helpful products for our clients in a timely manner. Each of our clients is important to us. We respond to telephone calls and emails promptly. We serve many individuals as well as small businesses and non-profit organizations in Central Virginia and gladly serve those living farther away.
Whether you are a student, worker, retiree, or a business owner, we will work hard to give you the best service possible. We hope to serve you as your needs change. In addition to individual and business taxation, we provide accounting and payroll services. For non-profits and small businesses, we provide audit and review services. Alan Hostetler, CPA, graduated in 2001 with a Bachelor of Arts in Accounting and Business Administration and moved to Charlottesville where he began practicing accounting.
In 2003 he was hired by Thomas C. Stott, CPA and has worked extensively with individual and business taxation as well as auditing.
Whether you are a student, worker, retiree, or a business owner, we will work hard to give you the best service possible. We hope to serve you as your needs change. In addition to individual and business taxation, we provide accounting and payroll services. For non-profits and small businesses, we provide audit and review services. Alan Hostetler, CPA, graduated in 2001 with a Bachelor of Arts in Accounting and Business Administration and moved to Charlottesville where he began practicing accounting.
In 2003 he was hired by Thomas C. Stott, CPA and has worked extensively with individual and business taxation as well as auditing.
Services
Hostetler Stott CPA provides a wide range of services to individuals and businesses in a variety of industries.
At Hostetler Stott CPA, 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.
We view our relationships with our clients as ongoing partnerships, and we pledge to provide you with quality, up-to-date tax return preparation and advice, whatever your tax planning and preparation needs-whether you're an individual, couple, sole-proprietor business or operate a multi-tiered corporation or partnership.
At Hostetler Stott CPA, 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.
We view our relationships with our clients as ongoing partnerships, and we pledge to provide you with quality, up-to-date tax return preparation and advice, whatever your tax planning and preparation needs-whether you're an individual, couple, sole-proprietor business or operate a multi-tiered corporation or partnership.
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Simply click "Buy Now, " log in to your Pay Pal account, and enter in the amount on your invoice.
If you do not have a PayPal account, you can still pay by using your credit card: click "Buy Now, " enter amount, then select "PayPal Guest Checkout."
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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