Do you desire personalized professional services? Are you looking for a CPA firm that cares more about your financial well being than their own? Do you want an accounting firm that treats your business as if they owned it? We are a boutique accounting firm that offers a full complement of accounting, tax planning, including individual, business and estate and trust, personal financial planning, business services and an array of individualized consulting services.
We focus on successful individuals and their business pursuits. For expert, affordable, service from accountants that care about you, choose Jim McHale, CPA, CFP(R).
We focus on successful individuals and their business pursuits. For expert, affordable, service from accountants that care about you, choose Jim McHale, CPA, CFP(R).
Services
We are a family owned accounting firm established for the sole purpose of providing the highest level of personalized client service possible.
We care about each of our clients as individuals.
You will always have access to me and never have to worry whether a new staff accountant has the proper experience to address your issues.
We take a holistic approach to our clients combining financial planning with accounting and tax services.
We work to insure protection of clients' assets while maximizing their net worth.
We care about each of our clients as individuals.
You will always have access to me and never have to worry whether a new staff accountant has the proper experience to address your issues.
We take a holistic approach to our clients combining financial planning with accounting and tax services.
We work to insure protection of clients' assets while maximizing their net worth.
McHale Financial provides a wide range of services to individuals and businesses in a variety of industries.
At McHale Financial, 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 McHale Financial, 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 McHale Financial, 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 McHale Financial, 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.
Trusts and estates need to file an income tax return for the 2020 calendar year (Form 1041) and pay any tax, interest and penalties due, if an automatic five-and-a-half month extension was filed.
Employers must establish a SIMPLE or a Safe-Harbor 401(k) plan for 2020 by this date, except in certain circumstances.
Individuals must file a 2020 income tax return (Form 1040 or Form 1040-SR) and pay any tax, interest and penalties due, if an automatic extension was filed.
Trusts and estates need to file an income tax return for the 2020 calendar year (Form 1041) and pay any tax, interest and penalties due, if an automatic five-and-a-half month extension was filed.
Employers must establish a SIMPLE or a Safe-Harbor 401(k) plan for 2020 by this date, except in certain circumstances.
Individuals must file a 2020 income tax return (Form 1040 or Form 1040-SR) and pay any tax, interest and penalties due, if an automatic extension was filed.
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