For over 50 years Wood and Wood, Ltd. has been helping small businesses and individuals achieve their accounting and financial goals. We were established in Magnolia, Arkansas as a small local firm. Since that time we have grown to serve the areas of South Arkansas, East Texas, North Louisiana, and more. In 1961 K. Dale Wood, a graduate of Southern State College (now Southern Arkansas University), established K. Dale Wood, CPA.
In 1980 Wally became the second CPA and Wood and Wood, Ltd. was formed. In 1985 Wally became managing shareholder and also the company President. In 2014 Wally's son William E. "Will" Wood became the firm's third CPA. Wood and Wood, Ltd. has always been at the head of the pack when it comes to technological innovation. Now more so than ever.
We offer online data storage for businesses that don't want to deal with the hassle of big and bulky paper filing as well as accounting software, for businesses, that can be accessed anywhere with an internet connection.Magnolia-Columbia County Chamber of Commerce, Private Companies Practice Section of the AICPA, and the Employee Benefit Plan Audit Quality Center.
In 1980 Wally became the second CPA and Wood and Wood, Ltd. was formed. In 1985 Wally became managing shareholder and also the company President. In 2014 Wally's son William E. "Will" Wood became the firm's third CPA. Wood and Wood, Ltd. has always been at the head of the pack when it comes to technological innovation. Now more so than ever.
We offer online data storage for businesses that don't want to deal with the hassle of big and bulky paper filing as well as accounting software, for businesses, that can be accessed anywhere with an internet connection.Magnolia-Columbia County Chamber of Commerce, Private Companies Practice Section of the AICPA, and the Employee Benefit Plan Audit Quality Center.
Services
Wood and Wood, Ltd provides a wide range of services to individuals and businesses in a variety of industries.
At Wood and Wood, Ltd, 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.
Providing financial information to our clients in a timely and accurate manner is a commitment that we feel cannot be compromised.
Meaningful, well-organized financial records ensure that your business operations will run more efficiently on a daily basis.
At Wood and Wood, Ltd, 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.
Providing financial information to our clients in a timely and accurate manner is a commitment that we feel cannot be compromised.
Meaningful, well-organized financial records ensure that your business operations will run more efficiently on a daily basis.
We're more than your local business.
Wood and Wood Ltd is moving into a new era of accounting.
Using the latest software we help you achieve your accounting goals, efficiently, effectively, and ethically.
Whether it's bookkeeping, auditing, payroll, tax services or more, we help you achieve your goals.
If you need an accountant, we provide many key services that are crucial to a small business and an individual.
Our web services offer instant access to electronic document storage, online bookkeeping, and more.
Wood and Wood Ltd is moving into a new era of accounting.
Using the latest software we help you achieve your accounting goals, efficiently, effectively, and ethically.
Whether it's bookkeeping, auditing, payroll, tax services or more, we help you achieve your goals.
If you need an accountant, we provide many key services that are crucial to a small business and an individual.
Our web services offer instant access to electronic document storage, online bookkeeping, and more.
Walt graduated from the Arkansas School for Mathematics and Science in Hot Springs and from Southern Arkansas University in Magnolia.
Walt has been with Wood and Wood, Ltd. for several years and has been a great addition to the audit side of the firm.
Jacque attended Magnolia High School and Southern Arkansas University and has been a part of our staff for over 25 years.
She meets out clients at the door with a friendly smile and a warm welcome.
Walt has been with Wood and Wood, Ltd. for several years and has been a great addition to the audit side of the firm.
Jacque attended Magnolia High School and Southern Arkansas University and has been a part of our staff for over 25 years.
She meets out clients at the door with a friendly smile and a warm welcome.
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.
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