Thomas P. Gogarty Jr. is a full-service CPA and accounting firm serving Delaware, the Eastern Shore and Washington, DC regions. Our mission is to empower small to medium-sized privately held companies to grow their business, achieve maximum profitability and retain as much of their revenues as possible.
Services
Tom Gogarty is a respected Certified Public Accountant serving the Delaware, Eastern Shore, and Washington, DC regions for more than 15 years.
Prior to starting his practice in 1999, Tom worked for a DC-based accounting firm for 11 years, gaining extensive experience in auditing and accounting, including tax & litigation support and business consulting experience.
Business served include retail & wholesale, service, health care, professional services, non-profit, venture capital, construction and real estate, with a strong focus on government contractors providing these services.
Prior to starting his practice in 1999, Tom worked for a DC-based accounting firm for 11 years, gaining extensive experience in auditing and accounting, including tax & litigation support and business consulting experience.
Business served include retail & wholesale, service, health care, professional services, non-profit, venture capital, construction and real estate, with a strong focus on government contractors providing these services.
Tom provides a wide range of services to individuals, and businesses, in an array of industries.
Each client's specific needs are built in to a unique plan tailored to help plan for the future, while achieving targeted goals in an ever-changing financial environment.
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.
Each client's specific needs are built in to a unique plan tailored to help plan for the future, while achieving targeted goals in an ever-changing financial environment.
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.
I've worked with Tom for over 5 years now.
He's fabulous!
Whenever I have a question, he's there with the answers or researching to get the right answers.
His professional advise over the years has helped me save money, reduce my risks, avoid penalties and increase business and personal assets.
He always makes sure that I understand the issue at hand.
He brings the complicated issue of taxes, accounting and Quick Books processes down to my level of understanding.
I look forward to many more years of working together with Tom.
He's fabulous!
Whenever I have a question, he's there with the answers or researching to get the right answers.
His professional advise over the years has helped me save money, reduce my risks, avoid penalties and increase business and personal assets.
He always makes sure that I understand the issue at hand.
He brings the complicated issue of taxes, accounting and Quick Books processes down to my level of understanding.
I look forward to many more years of working together with Tom.
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.
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