Butala, Simmons, Camilleri & Baranski, PC is an established multi-specialty accounting and consulting firm which supports a broad range of accounting, taxation and consulting services. The Firm has the breadth and depth of expertise to represent clients in sophisticated business transactions and their tax ramifications. Our advisors are accessible, responsive and sensitive to the needs of our clients.
Emphasis is placed on close client relationships, minimizing taxes, and resolving problems. Butala, Simmons, Camilleri & Baranski, PC represents a diverse client base which includes manufacturing, real estate, construction, recreation, non-profit, professional and personal service concerns. Butala, Simmons, Camilleri & Baranski, PC combines the best qualities of large and small accounting and consulting firms.
The Firm has the sophisticated specialization which clients seek from large firms; yet members of the Firm provide the prompt personal attention, as well as the service found in small firms.
Emphasis is placed on close client relationships, minimizing taxes, and resolving problems. Butala, Simmons, Camilleri & Baranski, PC represents a diverse client base which includes manufacturing, real estate, construction, recreation, non-profit, professional and personal service concerns. Butala, Simmons, Camilleri & Baranski, PC combines the best qualities of large and small accounting and consulting firms.
The Firm has the sophisticated specialization which clients seek from large firms; yet members of the Firm provide the prompt personal attention, as well as the service found in small firms.
Services
For years, Butala, Simmons, Camilleri & Baranski, PC has been providing quality, personalized financial guidance to individuals and businesses.
Our expertise ranges from basic accounting and tax preparation services to more in-depth services such as audited, reviewed or compiled financial statements, federal, state or local representation and consulting on succession planning, business acquisitions or dispositions, financing alternatives.
Butala, Simmons, Camilleri & Baranski, PC is one of the leading firms in and throughout the area.
Our expertise ranges from basic accounting and tax preparation services to more in-depth services such as audited, reviewed or compiled financial statements, federal, state or local representation and consulting on succession planning, business acquisitions or dispositions, financing alternatives.
Butala, Simmons, Camilleri & Baranski, PC is one of the leading firms in and throughout the area.
Butala, Simmons, Camilleri & Baranski, PC provides a wide range of services to individuals and businesses in a variety of industries.
At Butala, Simmons, Camilleri & Baranski, PC, 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 Butala, Simmons, Camilleri & Baranski, PC, 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 Butala, Simmons, Camilleri & Baranski, PC, 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 Butala, Simmons, Camilleri & Baranski, PC, 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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