The Associates of Carroll & Johnston, CPAs, LLC are committed to your success. As we strive to learn your business, we work with you to create the best opportunity for you to be successful. It is our goal to improve your tax and capital position as well as your business structure, benefit packages, acquisition potential and much much more. Put our professional, dedicated and qualified staff to work for you.
John S. Carroll holds a Bachelor of Science Degree in Accounting from Louisiana College and a Masters of Business Administration from the University of Chicago. John's work experience began with small CPA firm during his undergraduate college years. John has nine years of international accounting experience with the firms of Deloitte and Touche, and BDO Seidman.
In February of 1997, after purchasing a CPA firm, he moved back to his home state of Louisiana to operate his own firm, John S. Carroll, CPA, LLC. John specializes in Oil and Gas/Consulting & Logging industries, but is capable of working with any accounting needs.
John S. Carroll holds a Bachelor of Science Degree in Accounting from Louisiana College and a Masters of Business Administration from the University of Chicago. John's work experience began with small CPA firm during his undergraduate college years. John has nine years of international accounting experience with the firms of Deloitte and Touche, and BDO Seidman.
In February of 1997, after purchasing a CPA firm, he moved back to his home state of Louisiana to operate his own firm, John S. Carroll, CPA, LLC. John specializes in Oil and Gas/Consulting & Logging industries, but is capable of working with any accounting needs.
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Please feel free to contact us for additional information about our firm and the services we offer, or to make suggestions regarding our website.
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.
Please feel free to contact us for additional information about our firm and the services we offer, or to make suggestions regarding our website.
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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