We are a CPA firm that has been serving the greater Philadelphia area since 1997. We provide full service accounting; tax and payroll needs to small businesses as well as individual and business income tax return preparation. We offer business accounting packages that can help you eliminate the late night accounting paperwork and anxiety as tax time approaches.
We provide the tools and guidance to make those business decisions swiftly and confidently by providing you with monthly financial statements and are always available to answer those questions that arise randomly. Our individual and business tax services will also alleviate the stress that always accompanies tax time whether it be how to handle a changing situation or a changing tax law.
We make it easy and stress free for you from the time you drop off your information until your return is filed. Please explore our website to see what best fits your needs and schedule an appointment with us today. Check out "Tony's Thoughts About Random Things" below if you want a good laugh or insights on business topics from a seasoned professional.
We provide the tools and guidance to make those business decisions swiftly and confidently by providing you with monthly financial statements and are always available to answer those questions that arise randomly. Our individual and business tax services will also alleviate the stress that always accompanies tax time whether it be how to handle a changing situation or a changing tax law.
We make it easy and stress free for you from the time you drop off your information until your return is filed. Please explore our website to see what best fits your needs and schedule an appointment with us today. Check out "Tony's Thoughts About Random Things" below if you want a good laugh or insights on business topics from a seasoned professional.
Services
Coladonato, CPA has been assisting businesses throughout the greater Philadelphia area since 1997.
Our primary focus is helping business owners improve profits and cash flow, decrease taxes and simply saving time with their accounting and bookkeeping so they use their time more wisely to run their business and enjoy doing things they love to do!
You need to surround yourself with the right team of trusted advisors.
We will be on your team providing timely financial information, business advice and guidance.
Our primary focus is helping business owners improve profits and cash flow, decrease taxes and simply saving time with their accounting and bookkeeping so they use their time more wisely to run their business and enjoy doing things they love to do!
You need to surround yourself with the right team of trusted advisors.
We will be on your team providing timely financial information, business advice and guidance.
Coladonato, CPA provides services that allow individuals and business owners to know that their accounting needs are being handled timely and professionally.
Our four specialty services that we offer are monthly business accounting service, tax planning and preparation, strategic planning and consulting and payroll services.
No matter which service you choose we guarantee reliable professional service.
We provide financial statements on a timely basis so you can make intelligent business decisions.
Our four specialty services that we offer are monthly business accounting service, tax planning and preparation, strategic planning and consulting and payroll services.
No matter which service you choose we guarantee reliable professional service.
We provide financial statements on a timely basis so you can make intelligent business decisions.
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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