We provide income tax preparation and planning for over six hundred individuals and we prepare approximately two hundred other income tax returns for corporations, partnerships, exempt organizations, trusts and estates. We have various small to medium sized clients that include machine shops with large inventories, retail companies and contractors that we provide with various accounting services.
These services include quarterly and annual financial statements, payroll and sales tax returns, business property statements and other financial, tax and informational returns as requested. We also prepare compiled, reviewed and audited financial statements for over 20 churches and schools. 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. McKinney & Company is dedicated to meeting these goals with high standards of excellence and professionalism.
These services include quarterly and annual financial statements, payroll and sales tax returns, business property statements and other financial, tax and informational returns as requested. We also prepare compiled, reviewed and audited financial statements for over 20 churches and schools. 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. McKinney & Company is dedicated to meeting these goals with high standards of excellence and professionalism.
Services
McKinney & Company provides a wide range of services to individuals and businesses in a variety of industries.
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 McKinney & Company, 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.
Our expertise, experience, analysis and thorough research allow us to optimize financial opportunities to be found in existing as well as recently altered tax laws.
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 McKinney & Company, 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.
Our expertise, experience, analysis and thorough research allow us to optimize financial opportunities to be found in existing as well as recently altered tax laws.
McKinney & Company is a full-service accounting firm serving clients throughout the Bay Area, dedicated to providing our clients with professional, personalized services and guidance in a wide range of financial and business needs.
We specialize in income tax preparation and accounting for small businesses.
On this website, you will find information about McKinney & Company, including our list of services.
We have also provided you with online resources to assist in the tax process and financial decision-making.
We specialize in income tax preparation and accounting for small businesses.
On this website, you will find information about McKinney & Company, 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.
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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