Patrick J. McCarty, CPA PLLC, is a full-service CPA firm serving clients throughout the Clarkston, Michigan area, dedicated to providing clients with professional, personalized services and guidance in a wide range of financial and business needs. On this website, you will find information about Patrick J. McCarty, CPA PLLC, including my list of services.
I have also provided you with online resources to assist in the tax process and financial decision-making. These tools include downloadable tax forms and publications, financial calculators, news and links to other useful sites. Whether you are an individual or business in or around Clarkston, Patrick J. McCarty, CPA PLLC, has over 24 years of valuable experience assisting professionals with their accounting needs.
I have also provided you with online resources to assist in the tax process and financial decision-making. These tools include downloadable tax forms and publications, financial calculators, news and links to other useful sites. Whether you are an individual or business in or around Clarkston, Patrick J. McCarty, CPA PLLC, has over 24 years of valuable experience assisting professionals with their accounting needs.
Services
Since 1991, Patrick J. McCarty, CPA PLLC, has been providing quality, personalized financial guidance to local individuals and businesses.
Patrick J. McCarty, expertise ranges from basic tax management and accounting services to more in-depth services such as controller services, financial statements, and financial planning.
Patrick J. McCarty, CPA PLLC is one of the leading firms in and throughout Clarkston.
By combining my expertise and experience, I assure that every client receives the close analysis and attention they deserve.
Patrick J. McCarty, expertise ranges from basic tax management and accounting services to more in-depth services such as controller services, financial statements, and financial planning.
Patrick J. McCarty, CPA PLLC is one of the leading firms in and throughout Clarkston.
By combining my expertise and experience, I assure that every client receives the close analysis and attention they deserve.
Patrick J. McCarty, CPA provides a wide range of services to individuals and businesses in a variety of industries.
I 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 Patrick J. McCarty, CPA I guide my 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.
I 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 Patrick J. McCarty, CPA I guide my 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.
Employers need to report income tax withholding and FICA taxes for third quarter 2021 (Form 941) and pay any tax due.
Employers need to report income tax withholding and FICA taxes for third quarter 2021 (Form 941), if you deposited on time and in full all of the associated taxes due.
Exempt organizations must file a 2020 calendar-year information return (Form 990, Form 990-EZ or Form 990-PF) and pay any tax, interest and penalties due, if a six-month extension was previously filed.
Employers need to report income tax withholding and FICA taxes for third quarter 2021 (Form 941) and pay any tax due.
Employers need to report income tax withholding and FICA taxes for third quarter 2021 (Form 941), if you deposited on time and in full all of the associated taxes due.
Exempt organizations must file a 2020 calendar-year information return (Form 990, Form 990-EZ or Form 990-PF) and pay any tax, interest and penalties due, if a six-month extension was previously filed.
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