At Oliver & Spencer, PC, those words represent our promise to our clients. We're committed to providing valuable advice, quality work and compliance with today's challenging business environments. We specialize in serving the small and medium-sized business and its owner. We provide the services that help an entrepreneur focus on their business, not their back office.
Our payroll, bookkeeping and tax services offer peace of mind, accurate & timely information and a relationship with a trusted advisor. Our individual tax and financial services help individuals navigate the ever expanding world of taxes and tax planning. We show you what is possible, not just what's required.
Our payroll, bookkeeping and tax services offer peace of mind, accurate & timely information and a relationship with a trusted advisor. Our individual tax and financial services help individuals navigate the ever expanding world of taxes and tax planning. We show you what is possible, not just what's required.
Services
Oliver & Spencer, PC provides a wide range of services to individuals and businesses in a variety of industries.
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.
It is impossible to effectively manage a business, comply with tax and regulatory requirements and have peace of mind without timely and accurate financial information.
Our bookkeeping services provide you with up to date information necessary for you to make good business decisions.
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.
It is impossible to effectively manage a business, comply with tax and regulatory requirements and have peace of mind without timely and accurate financial information.
Our bookkeeping services provide you with up to date information necessary for you to make good business decisions.
All the advice in the world doesn't mean anything if you don't trust the person giving the advice or understand what he/she is telling you.
Our office is casually-themed and we speak in English, not tax code.
Relationship is the key.
Meet our professionals.
After six years with PricewaterhouseCoopers and almost thirty years of accounting experience, Mark uses his public and private accounting background to serve the business, tax and financial issues of business owners and individuals.
Mark is the sole shareholder of Oliver & Spencer, PC and is its managing partner.
Our office is casually-themed and we speak in English, not tax code.
Relationship is the key.
Meet our professionals.
After six years with PricewaterhouseCoopers and almost thirty years of accounting experience, Mark uses his public and private accounting background to serve the business, tax and financial issues of business owners and individuals.
Mark is the sole shareholder of Oliver & Spencer, PC and is its managing partner.
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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