Desert Accounting Service is a full-service tax preparation and bookkeeping firm, serving individuals and large and small business clients in the High Desert, Inland Empire, and throughout the United States. We are dedicated to providing our clients with the highest quality personalized services and guidance in a wide range of business needs.
As you browse through our Website, you will see that not only have we highlighted background information on our firm and the professional services we provide such as Tax Preparation, Accounting, Bookkeeping, and Payroll Services, as well as QuickBooks set-up and training, but have also included useful resources such as informative articles (in our Newsletter section) and interactive financial calculators (in our Financial Tools section).
In addition, we have taken the time to gather many links to external Websites that we felt would be of interest to our clients and visitors (in our Internet Links section).While browsing through our Website, please feel free to contact us with any questions or comments you may have - we'd love to hear from you.
As you browse through our Website, you will see that not only have we highlighted background information on our firm and the professional services we provide such as Tax Preparation, Accounting, Bookkeeping, and Payroll Services, as well as QuickBooks set-up and training, but have also included useful resources such as informative articles (in our Newsletter section) and interactive financial calculators (in our Financial Tools section).
In addition, we have taken the time to gather many links to external Websites that we felt would be of interest to our clients and visitors (in our Internet Links section).While browsing through our Website, please feel free to contact us with any questions or comments you may have - we'd love to hear from you.
Services
For over 15 years, Desert Accounting Service has been providing quality, personalized financial guidance to local individuals and businesses.
Desert Accounting Service's expertise ranges from basic tax preparation and accounting services to more in-depth services such as tax audits, tax projections/planning, financial statements, offer in compromises, cash management, and budgeting.
Desert Accounting Service is one of the leading firms in and throughout the High Desert and Inland Empire.
By combining our expertise and experience, we assure that every client receives the close analysis and attention they deserve.
Desert Accounting Service's expertise ranges from basic tax preparation and accounting services to more in-depth services such as tax audits, tax projections/planning, financial statements, offer in compromises, cash management, and budgeting.
Desert Accounting Service is one of the leading firms in and throughout the High Desert and Inland Empire.
By combining our expertise and experience, we assure that every client receives the close analysis and attention they deserve.
Desert Accounting Service provides a wide range of services to individuals and businesses in a variety of industries.
At Desert Accounting Service, 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 Desert Accounting Service, 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 Desert Accounting Service, 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 Desert Accounting Service, 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.
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.
But what should be done with those documents after your check or refund request is in the mail?
Federal law requires you to maintain copies of your tax returns and supporting documents for three years.
This is called the "three-year law" and leads many people to believe they're safe provided they retain their documents for this period of time.
However, if the IRS believes you have significantly underreported your income (by 25 percent or more), it may go back six years in an audit.
If there is any indication of fraud, or you do not file a return, no period of limitation exists.
Federal law requires you to maintain copies of your tax returns and supporting documents for three years.
This is called the "three-year law" and leads many people to believe they're safe provided they retain their documents for this period of time.
However, if the IRS believes you have significantly underreported your income (by 25 percent or more), it may go back six years in an audit.
If there is any indication of fraud, or you do not file a return, no period of limitation exists.
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.
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