Professional Management Advantage LLC provides quality, personalized financial guidance to local individuals and businesses. Our expertise ranges from basic tax management and accounting services to more in-depth services such as financial statements and financial planning. As members of the National Society of Certified Healthcare Business Consultants, we specialize in assisting businesses in the healthcare industry to elevate their practice to be more effective and efficient.
Professional Management Advantage LLC assures that every client receives the close analysis and attention they deserve. Our dedication to high standards and work ethic are the reasons our client base returns year after year. Our mission is to help clients maintain financial viability in the present, while taking a proactive approach to achieve future goals.
This requires open communication to reach an understanding of our clients' needs through research and sound analysis. Professional Management Advantage LLC is dedicated to meeting these goals with high standards of excellence and professionalism.
Professional Management Advantage LLC assures that every client receives the close analysis and attention they deserve. Our dedication to high standards and work ethic are the reasons our client base returns year after year. Our mission is to help clients maintain financial viability in the present, while taking a proactive approach to achieve future goals.
This requires open communication to reach an understanding of our clients' needs through research and sound analysis. Professional Management Advantage LLC is dedicated to meeting these goals with high standards of excellence and professionalism.
Services
Professional Management Advantage LLC provides a wide range of services to individuals and businesses in the healthcare industry.
At Professional Management Advantage LLC, we strive to meet each client's specific needs in planning for the future and achieving their goals in an ever-changing financial and regulatory environment.
At Professional Management Advantage LLC, 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.
At Professional Management Advantage LLC, we strive to meet each client's specific needs in planning for the future and achieving their goals in an ever-changing financial and regulatory environment.
At Professional Management Advantage LLC, 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.
Professional Management Advantage LLC is a full-service accounting firm serving the medical and dental profession throughout the Midwest.
We are 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 Professional Management Advantage LLC, including our list of services.
We have also provided you with online resources to assist in the tax process and financial decision-making.
We are 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 Professional Management Advantage LLC, including our list of services.
We have also provided you with online resources to assist in the tax process and financial decision-making.
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.
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