Michael C. Berry, CPA, CFP is a tax and small business oriented accounting firm serving clients throughout the United States, and more frequently Bainbridge Island, Kitsap County, the Olympic Peninsula, Greater Seattle area, Oregon, California, and some clients living in foreign countries. He has provided his clients with professional, personalized services and guidance in a wide range of financial and business needs.
Additionally, Michael C. Berry has an expertise in real estate transactions, particularly commercial, and has been a licensed real estate broker since 1980 in Oklahoma and since 1988 in Washington. Further, Michael C. Berry, CPA, CFP is a member in good standing with the American Institute of Certified Public Accountants, a member of the AICPA Tax Section, the Washington Society of Certified Public Accountants, the Bainbridge Island Chamber of Commerce.
Michael C. Berry, CPA, CFP has extensive experience dealing with tax matters, including preparation of all kinds of federal and state tax returns, IRS audits, State tax audits, estate planning, tax planning, and retirement planning.
Additionally, Michael C. Berry has an expertise in real estate transactions, particularly commercial, and has been a licensed real estate broker since 1980 in Oklahoma and since 1988 in Washington. Further, Michael C. Berry, CPA, CFP is a member in good standing with the American Institute of Certified Public Accountants, a member of the AICPA Tax Section, the Washington Society of Certified Public Accountants, the Bainbridge Island Chamber of Commerce.
Michael C. Berry, CPA, CFP has extensive experience dealing with tax matters, including preparation of all kinds of federal and state tax returns, IRS audits, State tax audits, estate planning, tax planning, and retirement planning.
Services
Since 1988, Michael C. Berry, CPA, has been providing tax and accounting services to clients in Bainbridge Island, Kitsap County, Washington, to various clients across the United States and to US citizens living abroad.
Services range from accounting assistance and bookkeeping, payroll and tax return preparation, representation in Internal Revenue Service matters and State tax matters, litigation support, accounting software especially QuickBooks, and financial planning.
His background in real estate, as a licensed real estate broker in Oklahoma and Washington, has added to his expertise in structuring real estate transactions for both income tax and estate planning purposes.
Services range from accounting assistance and bookkeeping, payroll and tax return preparation, representation in Internal Revenue Service matters and State tax matters, litigation support, accounting software especially QuickBooks, and financial planning.
His background in real estate, as a licensed real estate broker in Oklahoma and Washington, has added to his expertise in structuring real estate transactions for both income tax and estate planning purposes.
Michael C. Berry, CPA, CFP provides a wide range of services to individuals and businesses in a variety of industries.
At Michael C. Berry, CPA, CFP, 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 Michael C. Berry, CPA, CFP, 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 Michael C. Berry, CPA, CFP, 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 Michael C. Berry, CPA, CFP, 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.
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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