James A. Dugan, CPA, PS is an accounting firm specializing in providing personalized and professional income tax services to clients in the "Eastside" of Seattle, WA, (Bellevue, Bothell, Issaquah, Kenmore, Kirkland, Redmond, Woodinville) and surrounding areas. On this website, you will find information about Jim, along with online resources to assist you with your taxes as well as other financial decision-making.
These tools include downloadable tax forms and publications, financial calculators, news and links to other useful sites. Whether you are an individual or business in or around Kirkland, James A. Dugan, CPA, PS has years of valuable experience assisting professionals with their accounting needs.
These tools include downloadable tax forms and publications, financial calculators, news and links to other useful sites. Whether you are an individual or business in or around Kirkland, James A. Dugan, CPA, PS has years of valuable experience assisting professionals with their accounting needs.
Services
Since 1994 James A. Dugan, CPA, PS has been provided income tax and accounting services in Redmond and Kirkland, Washington.
Since 2012, the firm has focused on providing income tax services entirely.
Jim is a 1973 graduate of Louisiana State University where he received a BS degree in accounting.
Upon graduation, he left Louisiana to work at Cru (formerly Campus Crusade for Christ) in San Bernardino, California, where he met his wife, Wanda, and remained there for five years.
Jim began his public accounting career in 1978 and became a certified public accountant after passing all parts of the CPA exam on his first attempt in 1979.
Since 2012, the firm has focused on providing income tax services entirely.
Jim is a 1973 graduate of Louisiana State University where he received a BS degree in accounting.
Upon graduation, he left Louisiana to work at Cru (formerly Campus Crusade for Christ) in San Bernardino, California, where he met his wife, Wanda, and remained there for five years.
Jim began his public accounting career in 1978 and became a certified public accountant after passing all parts of the CPA exam on his first attempt in 1979.
James A. Dugan, CPA, PS provides a wide range of services to individuals and businesses in a variety of industries.
At James A. Dugan, CPA, PS, 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 James A. Dugan, CPA, PS, 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 James A. Dugan, CPA, PS, 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 James A. Dugan, CPA, PS, 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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