White, Withers, Masincup & Cannaday, P.C. is the combination of three Staunton accounting firms with long and distinguished histories. Ritchie, Withers & Masincup, P.C. was established in the 1960's. Anderson, White & Company, P.C. was established in the 1950's. Douglas L. Hawpe Associates, P.C. was established in 1993. We are now one firm consisting of 10 CPAs and 18 total employees.
We are very excited about our merger and our future. White, Withers, Masincup & Cannaday, P.C.is a full-service accounting firm serving clients throughout the area, dedicated to providing our clients with professional, personalized services and guidance in a wide range of financial and business needs. On this website, you will find information about White, Withers, Masincup & Cannaday, P.C., including our list of services.
We have also provided you with online resources to assist in the tax process and financial decision-making. These tools include downloadable tax forms and publications, financial calculators, news, and links to other useful sites.
We are very excited about our merger and our future. White, Withers, Masincup & Cannaday, P.C.is a full-service accounting firm serving clients throughout the area, dedicated to providing our clients with professional, personalized services and guidance in a wide range of financial and business needs. On this website, you will find information about White, Withers, Masincup & Cannaday, P.C., including our list of services.
We have also provided you with online resources to assist in the tax process and financial decision-making. These tools include downloadable tax forms and publications, financial calculators, news, and links to other useful sites.
Services
White, Withers, Masincup & Cannaday, PC is committed to your success.
We make it our business to know your business well enough to improve your tax position, capital position, business structure and benefits packages, acquisition potential, and much more.
We earn our fees by adding value to your company and to your asset base.
We have learned a great deal since we began in this business, and we are ready to apply this knowledge to enhance your company's growth and success.
Together we can conquer all of the intricacies of doing business in today's fast-paced economy.
We make it our business to know your business well enough to improve your tax position, capital position, business structure and benefits packages, acquisition potential, and much more.
We earn our fees by adding value to your company and to your asset base.
We have learned a great deal since we began in this business, and we are ready to apply this knowledge to enhance your company's growth and success.
Together we can conquer all of the intricacies of doing business in today's fast-paced economy.
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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