Our accounting firm operates in Bossier City, Louisiana; Athens, Texas and the surrounding areas. We offer tax preparation services, management consulting, compilation and review engagements, and litigation support. Please feel free to contact us with any questions or comments you may have - we'd love to hear from you. We pride ourselves on being proactive and responsive to our clients' inquiries and suggestions.
Please get us information as soon as possible so these forms may be sent in timely.
Please get us information as soon as possible so these forms may be sent in timely.
Services
Rachel & Kostelka, LLC, CPA's 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.
From start-ups to established enterprises, businesses rely on accurate and insightful financial information in order to maintain profitability and capitalize on new opportunities.
Rachel & Kostelka, LLC, CPA's's accounting services steer you closer to these goals with accurate record-keeping and reporting as well as support on financial issues such as initial accounting system setup, cost-containment, tax planning, investments, and employee benefit and profit-sharing plans.
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.
From start-ups to established enterprises, businesses rely on accurate and insightful financial information in order to maintain profitability and capitalize on new opportunities.
Rachel & Kostelka, LLC, CPA's's accounting services steer you closer to these goals with accurate record-keeping and reporting as well as support on financial issues such as initial accounting system setup, cost-containment, tax planning, investments, and employee benefit and profit-sharing plans.
James N. Rachel is a native of Texarkana, Texas.
He is a graduate of the University of Texas where he earned a Bachelor of Business Administration degree with majors in accounting and military science.
Mr. Rachel was the distinguished military graduate from the University of Texas in 1968 and was commissioned as a regular Army officer upon graduation.
He served in the United States Army from 1968 to 1971, which included one year of combat duty in the Republic of Vietnam with the 101st Airborne Division.
He is a graduate of the University of Texas where he earned a Bachelor of Business Administration degree with majors in accounting and military science.
Mr. Rachel was the distinguished military graduate from the University of Texas in 1968 and was commissioned as a regular Army officer upon graduation.
He served in the United States Army from 1968 to 1971, which included one year of combat duty in the Republic of Vietnam with the 101st Airborne Division.
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.
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.
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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