The only constant in today's high-tech, high-priority world is change. Everyone and everything is evolving-including your business and personal accounting needs. Abacus Corporation is committed to providing you with efficient, personal service; relevant, reliable information; and effective, innovative solutions that keep pace with your changing needs.
We are here to help you manage financial priorities, make the most of new opportunities, and maximize your growth potential. We encourage you to review our services and the resources we have available to you here, on our website. If you have any questions or would like more information about Abacus Corporation, please contact us via email or telephone.
We look forward to helping you navigate the state of change. Abacus Corporation is one of the leading firms in and throughout Mountlake Terrace, WA. By combining our expertise, experience and the team mentality of our staff, we assure that every client receives the close analysis and attention they deserve.
We are here to help you manage financial priorities, make the most of new opportunities, and maximize your growth potential. We encourage you to review our services and the resources we have available to you here, on our website. If you have any questions or would like more information about Abacus Corporation, please contact us via email or telephone.
We look forward to helping you navigate the state of change. Abacus Corporation is one of the leading firms in and throughout Mountlake Terrace, WA. By combining our expertise, experience and the team mentality of our staff, we assure that every client receives the close analysis and attention they deserve.
Services
For years, Abacus Corporation has been providing quality, personalized financial guidance to local individuals and businesses.
Our expertise ranges from basic tax management and accounting services to more in-depth services such as audits, financial statements, and financial planning.
Abacus Corporation is one of the leading firms in and throughout the area.
By combining our expertise, experience and the team mentality of our staff, we assure that every client receives the close analysis and attention they deserve.
Our expertise ranges from basic tax management and accounting services to more in-depth services such as audits, financial statements, and financial planning.
Abacus Corporation is one of the leading firms in and throughout the area.
By combining our expertise, experience and the team mentality of our staff, we assure that every client receives the close analysis and attention they deserve.
Abacus Corporation provides a wide range of services to individuals and businesses in a variety of industries.
At Abacus Corporation, 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 Abacus Corporation, 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 Abacus Corporation, 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 Abacus Corporation, 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.
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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