At John L. Tilley, CPA we are committed to providing quality service to our clients. With over twenty five years experience, our firm has seen the dramatic changes that have affected both businesses and individuals. Our motto "Helping Businesses and Individuals Navigate Through a Complex Environment" speaks to our ongoing commitment to our clients, helping them adapt to an ever changing environment.
Our size allows us to develop a close working relationship with our clients, taking time to learn the intricate details of the operations of each of our clients. This knowledge is essential to providing quality services. Whether you are just starting a business or contemplating the future of your business, we can help. Our services are as diverse as our client base.
Continue with a tour of our website to learn more about the service we provide. We look forward to working with you.
Our size allows us to develop a close working relationship with our clients, taking time to learn the intricate details of the operations of each of our clients. This knowledge is essential to providing quality services. Whether you are just starting a business or contemplating the future of your business, we can help. Our services are as diverse as our client base.
Continue with a tour of our website to learn more about the service we provide. We look forward to working with you.
Services
Whether you are new to our site, or returning for a visit, we hope to provide you with timely and valuable information.
As your business partner, we understand your need to save time and will work with you to find effective solutions for your business needs.
We strive to build and maintain long-lasting business relationships, and this website is an extension of our commitment to you.
Our clients' satisfaction and success are our priorities.
We know that each of you has different goals and changing needs, so we'll meet with you as often as you'd like to discuss your plans.
As your business partner, we understand your need to save time and will work with you to find effective solutions for your business needs.
We strive to build and maintain long-lasting business relationships, and this website is an extension of our commitment to you.
Our clients' satisfaction and success are our priorities.
We know that each of you has different goals and changing needs, so we'll meet with you as often as you'd like to discuss your plans.
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.
These calculators have been provided as a resource for you to help plan your financial matters.
Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice, or supplement the advice of a professional advisor.
There is not and can not be a guarantee of their applicability or accuracy in regards to your individual circumstances.
All examples are hypothetical and are for illustrative purposes.
You are encouraged to seek personalized advice from qualified professionals regarding all personal finance issues.
Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice, or supplement the advice of a professional advisor.
There is not and can not be a guarantee of their applicability or accuracy in regards to your individual circumstances.
All examples are hypothetical and are for illustrative purposes.
You are encouraged to seek personalized advice from qualified professionals regarding all personal finance issues.
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