My certified public accounting practice is located in Charlottesville, VA. My goal is to provide my clients with professional, personalized services and guidance related to their financial and business needs. Although I am not accepting new clients at this time, the website is designed to provide helpful information to anyone. There is information available about me as well as downloadable tax forms and publications, financial calculators, news and links to other useful sites.
I can't verify the authenticity or accuracy of the information provided by the links since these are not on my website. Please use extra caution when going to the miscellaneous sites. I am dedicated to providing my clients with professional, personalized services and guidance in a wide range of financial and business needs. I have served the Charlottesville, Virginia area for decades and thank all those who have entrusted me with their tax needs.
I can't verify the authenticity or accuracy of the information provided by the links since these are not on my website. Please use extra caution when going to the miscellaneous sites. I am dedicated to providing my clients with professional, personalized services and guidance in a wide range of financial and business needs. I have served the Charlottesville, Virginia area for decades and thank all those who have entrusted me with their tax needs.
Services
I have practiced public accounting in Charlottesville for over forty years.
For over thirty years I have worked as a sole practitioner.
I have worked with wonderful people during my career.
My focus is to continue to provide quality personalized tax assistance to the individuals and businesses I serve.
My mission is to help my clients comply with federal and state tax laws as painlessly as possible and to assist with tax planning to achieve their financial goals.
For over thirty years I have worked as a sole practitioner.
I have worked with wonderful people during my career.
My focus is to continue to provide quality personalized tax assistance to the individuals and businesses I serve.
My mission is to help my clients comply with federal and state tax laws as painlessly as possible and to assist with tax planning to achieve their financial goals.
Janet M. Shumaker, CPA provides a wide range of services to individuals and businesses in a variety of industries.
At Janet M. Shumaker, 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.
At Janet M. Shumaker, CPA, 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.
At Janet M. Shumaker, 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.
At Janet M. Shumaker, CPA, 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.
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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