Lessel & Company, PC is a full-service accounting firm serving clients throughout Berks and Lehigh counties and beyond, dedicated to providing our clients with professional, personalized services and guidance in a wide range of financial and business needs. On this website, you will find information about Lessel & Company, PC, including our list of services.
We have also provided you with online resources to assist in the tax process and 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 Berks County, Lessel & Company, PC has years of valuable experience assisting small businesses and individuals with their accounting and tax preparation needs.
We have also provided you with online resources to assist in the tax process and 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 Berks County, Lessel & Company, PC has years of valuable experience assisting small businesses and individuals with their accounting and tax preparation needs.
Services
Lessel & Company, PC is an accounting and bookkeeping firm specializing in the restaurant and hospitality industry - that has provided quality service for small businesses and individuals for over twenty-five years.
Our experienced staff includes Thomas F. Lessel, CPA, Pamela J. Weiss, CPA, William T. Consugar, CPA and accounting and bookkeeping support of three people.
Our goal is to help make your business profitable.
Our contribution to your success includes providing full-service bookkeeping, monthly flnancial statements and operational analysis, monthly consulting, as well as on-going business and individual income tax planning and preparation.
Our experienced staff includes Thomas F. Lessel, CPA, Pamela J. Weiss, CPA, William T. Consugar, CPA and accounting and bookkeeping support of three people.
Our goal is to help make your business profitable.
Our contribution to your success includes providing full-service bookkeeping, monthly flnancial statements and operational analysis, monthly consulting, as well as on-going business and individual income tax planning and preparation.
Lessel & Company, PC provides a wide range of services to individuals and businesses in a variety of industries.
At Lessel & Company, PC, 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.
Our bookkeeping system is designed to relieve you of the time consuming routines of paying bills, recording transactions, balancing your checkbook and dealing with vendors, which will allow you to spend more time concentrating on increasing sales and decreasing costs.
At Lessel & Company, PC, 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.
Our bookkeeping system is designed to relieve you of the time consuming routines of paying bills, recording transactions, balancing your checkbook and dealing with vendors, which will allow you to spend more time concentrating on increasing sales and decreasing costs.
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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