The Entrepreneur's Advisor and CPA
Tax, Accounting and Consulting
TO OUR CLIENTS: THE INDIVIDUAL AND SMALL BUSINESS TAX STRATEGIES ARE IN YOUR VAULT ACCOUNT
We are licensed multi-state CPAs (NY, FL, AL) and successful entrepreneurs who serve local, national and international entrepreneurs and business owners as trusted advisors. We are specialists in individual and business multi-state taxation and inbound USA international filings. Average CPA preparer of partnership returns, S Corp returns, Individual returns and C Corp returns is 25 years. We also speak Mandarin.
Accounting Services by Accountants and CPAs
Our CPAs and accountants stay current on the latest changes to accounting rules, including Generally Accepted Accounting Principles and International Accounting Standards. We are a QuickBooks ProAdvisor offering Compilation and write-up services. Several companies in the USA and abroad outsource their full-service accounting function to our CPA and accounting degree professionals in our main office. We serve as virtual Controllers for certain clients with regard to general ledger accounting, bill pay, payroll and reporting by accountants with a degree and/or CPA certification.
Advisory and Consulting
With over 100 years collective experience in-house we offer valuable advice pertaining to financial statement presentation, taxation compliance, tax planning worldwide, raising capital, evaluating a franchise, medical practice structure, real estate investing, credit line applications, buying/selling a business, cost benefit analysis and general business decisions impacting debt, taxes, investors and prospective buyers of your business. We also have an international practice serving USA inbound investors in Asia, Europe, Canada and Australia.
2020 FEDERAL INCOME TAX DEADLINES FOR CALENDAR YEAR 2019
- January 15th, 2020 - Individual estimated tax payments Q4 2019 to reduce risk of interest and penalties.
- January 31, 2020 - Last day to postmark and send all 1099s to vendors on time.
- March 16th, 2020 - S Corporation and Partnership tax filing return deadline unless extensions filed. Extend till Sept 15th.
- April 1 Tangible tax returns deadline state of FL.
- April 15th, 2020 - Individual and C Corporation tax filing deadline unless extensions filed. Extend till Oct 15th. Individual IRA deadline. Q1 2020 estimated tax payments due.
- Looking ahead: Sept 15th 2020 extension deadline for S Corps and LLCs, October 15th for individuals and C Corps.
Certain Reminders for 2019 Year End Taxes
- Fines for not carrying full ACA Compliant health insurance no longer apply. TIP: Consider high deductible plans and HSA's.
- Threshold for itemizing and deducting medical expenses rises to 10% of Adjusted Gross Income in 2019.
- Maximum 2019 401K contribution raised to $19,000 (plus 6K if born before 1970). Traditional IRA is now $6,000.
- Standard business mileage rate for 2019 is now 58 cents per mile. Charitable remains at 14 cents per mile.
- First $1,100 of UNEARNED income of a child age 19 or younger tax free (24 if FT student).
- Standard deduction increases to $12,200 for singles and $24,400 for couples.
- HSA single max contribution is now $3,500 and family plans $7,000.