Mountain Tax, Inc. is a highly regarded family owned tax preparation practice located in Park City, Utah, owned by Bonnie and Bill Daniloff. The couple began preparing taxes in the mid 1970s in northern California, moving to Phoenix, Arizona in 1984 and building the business there until moving to Park City, Utah in 1994. Mountain Tax currently services clients all over the United States of America.
Mountain Tax is fully staffed with Bonnie Daniloff and her daughter Bailee Daniloff both Tax Experts who are both certified as EAs, Don Brown who is our Senor Tax Preparer, Angela Laros who is Mountain Tax's Team Mom and can do it all, Rebecca Payne the Quickbooks consultant and bookkeeper and then last but not least Brody, our Bermese Mountain Dog Client Greeter.
Our dedication to hard work and responsiveness has earned the respect of individual and business community tax filers and is the reason our client base returns year after year. Our Mission is to help our clients navigate the highly complex tax code to best represent their personal, family and business financial situations by offering prompt, professional and courteous service.
Mountain Tax is fully staffed with Bonnie Daniloff and her daughter Bailee Daniloff both Tax Experts who are both certified as EAs, Don Brown who is our Senor Tax Preparer, Angela Laros who is Mountain Tax's Team Mom and can do it all, Rebecca Payne the Quickbooks consultant and bookkeeper and then last but not least Brody, our Bermese Mountain Dog Client Greeter.
Our dedication to hard work and responsiveness has earned the respect of individual and business community tax filers and is the reason our client base returns year after year. Our Mission is to help our clients navigate the highly complex tax code to best represent their personal, family and business financial situations by offering prompt, professional and courteous service.
Services
Our professional services include: Preparation and filing of Personal, Corporate, Non-profit and Estate Taxes, IRS Representation, Small Business Bookkeeping/Write-up, QuickBooks Assistance and Payroll Services.
At Mountain Tax, Inc., 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 towards your financial goals.
Our expertise, experience, analysis and thorough research allow us to help you optimize financial opportunities to be found in existing as well as recently altered tax laws.
At Mountain Tax, Inc., 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 towards your financial goals.
Our expertise, experience, analysis and thorough research allow us to help you optimize financial opportunities to be found in existing as well as recently altered tax laws.
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.
These calculators have been provided as a resource for you to help plan your financial matters.
Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice, or supplement the advice of a professional advisor.
There is not and can not be a guarantee of their applicability or accuracy in regards to your individual circumstances.
All examples are hypothetical and are for illustrative purposes.
You are encouraged to seek personalized advice from qualified professionals regarding all personal finance issues.
Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice, or supplement the advice of a professional advisor.
There is not and can not be a guarantee of their applicability or accuracy in regards to your individual circumstances.
All examples are hypothetical and are for illustrative purposes.
You are encouraged to seek personalized advice from qualified professionals regarding all personal finance issues.
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