Elsa G. Johnson, PA is a tax practice located in Boca Raton, Florida dedicated to providing professional, personalized tax planning and compliance services to high net worth individuals and families in South Florida and many other states throughout the country. On this website, you will find information about Elsa G. Johnson, PA, 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. Our personal client service and support has created lasting relationships that are the foundation of our practice.
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. Our personal client service and support has created lasting relationships that are the foundation of our practice.
Services
Elsa G. Johnson, PA prides itself on providing quality, personalized income and estate tax planning services to our clients.
We believe in the value of establishing long term relationships that span several generations by providing close, personal attention to all of our clients.
For families with substantial assets, we perform many functions of a family office and provide the "hand holding" services those clients may need in addition to more traditional services.
We also believe in working closely as a team with our clients' legal counsel, investment advisors and other advisors to insure that our client's needs are met.
We believe in the value of establishing long term relationships that span several generations by providing close, personal attention to all of our clients.
For families with substantial assets, we perform many functions of a family office and provide the "hand holding" services those clients may need in addition to more traditional services.
We also believe in working closely as a team with our clients' legal counsel, investment advisors and other advisors to insure that our client's needs are met.
Elsa G. Johnson, PA offers a wide range of services to our clients.
Because our firm is relatively small, our clients benefit by getting personalized, quality service that is beyond comparison.
Below we have listed the services that we offer to our clients along with a brief description.
As the list below is by no means all-inclusive, please feel free to inquire about a service if you do not see it listed.
We prefer to take a proactive vs. reactive approach to tax services.
By keeping current on new tax laws and legislation, we are in a position to identify key tax planning opportunities that minimize both your current and future tax liabilities.
Because our firm is relatively small, our clients benefit by getting personalized, quality service that is beyond comparison.
Below we have listed the services that we offer to our clients along with a brief description.
As the list below is by no means all-inclusive, please feel free to inquire about a service if you do not see it listed.
We prefer to take a proactive vs. reactive approach to tax services.
By keeping current on new tax laws and legislation, we are in a position to identify key tax planning opportunities that minimize both your current and future tax liabilities.
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.
Employers need to report income tax withholding and FICA taxes for third quarter 2021 (Form 941) and pay any tax due.
Employers need to report income tax withholding and FICA taxes for third quarter 2021 (Form 941), if you deposited on time and in full all of the associated taxes due.
Exempt organizations must file a 2020 calendar-year information return (Form 990, Form 990-EZ or Form 990-PF) and pay any tax, interest and penalties due, if a six-month extension was previously filed.
Employers need to report income tax withholding and FICA taxes for third quarter 2021 (Form 941) and pay any tax due.
Employers need to report income tax withholding and FICA taxes for third quarter 2021 (Form 941), if you deposited on time and in full all of the associated taxes due.
Exempt organizations must file a 2020 calendar-year information return (Form 990, Form 990-EZ or Form 990-PF) and pay any tax, interest and penalties due, if a six-month extension was previously filed.
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