Owen & Company, P. S. is a Seattle CPA firm located near the Seattle Center across from the restaurant, Buckley's on First Avenue. Owen has a unique blend of skills, He has held finance and accounting positions as well as sales and marketing positions in industry for close to two decades. He has a BA and an MBA from the University of Washington in accounting and computer systems respectively.
He founded his CPA firm in 1986 and has been providing accounting, tax and business consulting services since then to small businesses in the Northwest. Owen is an experienced real estate and operating business investor with his own money and has advised his clients regarding their business and real estate matters for 30 years. Importantly, Owen and Eric have experience accounting for BIZX transactions; both from a purchaser's as well as seller's perspective.
Both Owen and Eric understand how businesses can turn their BIZX dollars into cash by using BIZX dollars to pay for expenditures previously being made with cash.
He founded his CPA firm in 1986 and has been providing accounting, tax and business consulting services since then to small businesses in the Northwest. Owen is an experienced real estate and operating business investor with his own money and has advised his clients regarding their business and real estate matters for 30 years. Importantly, Owen and Eric have experience accounting for BIZX transactions; both from a purchaser's as well as seller's perspective.
Both Owen and Eric understand how businesses can turn their BIZX dollars into cash by using BIZX dollars to pay for expenditures previously being made with cash.
Services
At Owen & Company, P.S., 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.
Our expertise, experience, analysis and thorough research allow us to optimize financial opportunities to be found in existing as well as recently altered tax laws.
We are knowledgeable and up to date on the tax laws and can make sense of your receipts, bills and notices.
Our expertise, experience, analysis and thorough research allow us to optimize financial opportunities to be found in existing as well as recently altered tax laws.
We are knowledgeable and up to date on the tax laws and can make sense of your receipts, bills and notices.
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.
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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