Thomas W. Daniels & Co., P.C. is a full service accounting firm located in Schererville, Indiana serving Northwest Indiana and Chicago. Our professional staff each incorporate over 30 years of industry experience, earning us a reputation for delivering outstanding, professional services with unparalleled integrity. We provide our clients with effective and efficient accounting solutions to their challenges, while maintaining the client's vision and goals.
Our goal is to provide an environment of long-term partnership with our clients, earning their trust with consistent efficiency, continuity of staff, and personal attention. Our diverse client base consists of corporations involved in the manufacturing and service industries as well as individuals. We provide expertise in accounting, tax, and financial planning matters.
Our goal is to provide an environment of long-term partnership with our clients, earning their trust with consistent efficiency, continuity of staff, and personal attention. Our diverse client base consists of corporations involved in the manufacturing and service industries as well as individuals. We provide expertise in accounting, tax, and financial planning matters.
Services
Thomas W. Daniels & Co., P.C. is a service organization dedicated to providing quality accounting, tax and consulting services that consistently exceed client expectations.
We continually seek new areas of expertise to be developed within our organization to help our clients achieve their personal and organizational goals.
We strive to attract and retain the best staff available by providing a work environment that fosters personal and professional growth.
At Deloitte, Brian worked with public and private clients in Indianapolis, London, and Chicago.
We continually seek new areas of expertise to be developed within our organization to help our clients achieve their personal and organizational goals.
We strive to attract and retain the best staff available by providing a work environment that fosters personal and professional growth.
At Deloitte, Brian worked with public and private clients in Indianapolis, London, and Chicago.
Thomas W. Daniels & Co., P.C. provides a wide range of services to individuals and businesses in a variety of industries.
At Thomas W. Daniels & Co., P.C., 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.
From start-ups to established enterprises, businesses rely on accurate and insightful financial information in order to maintain profitability and capitalize on new opportunities.
Thomas W. Daniels & Co., P.C.'s accounting services steer you closer to these goals with accurate record-keeping and reporting as well as support on financial issues such as initial accounting system setup, cost-containment, tax planning, investments, and employee benefit and profit-sharing plans.
At Thomas W. Daniels & Co., P.C., 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.
From start-ups to established enterprises, businesses rely on accurate and insightful financial information in order to maintain profitability and capitalize on new opportunities.
Thomas W. Daniels & Co., P.C.'s accounting services steer you closer to these goals with accurate record-keeping and reporting as well as support on financial issues such as initial accounting system setup, cost-containment, tax planning, investments, and employee benefit and profit-sharing plans.
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.
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